IMARC Group's report titled "Hyperlipidemia Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The global hyperlipidemia drugs market size reached US$ 22.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.2 Billion by 2028, exhibiting a growth rate (CAGR) of 1.8% during 2023-2028.
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Factors Affecting the Growth of the Hyperlipidemia Drugs Industry:
- Prevalence of Hyperlipidemia:
The increasing prevalence of hyperlipidemia among individuals around the world is contributing to the growth of the market. Apart from this, hyperlipidemia is a common medical condition characterized by elevated levels of lipids, such as cholesterol and triglycerides, in the bloodstream. Moreover, people are increasingly facing hyperlipidemia due to unhealthy dietary habits, sedentary lifestyles, and genetic predispositions. Furthermore, the rising demand for effective drugs to manage and control lipid levels is impelling the market growth. In line with this, there is an increase in the need for hyperlipidemia drugs, including statins, fibrates, and PCSK9 inhibitors.
- Rising Geriatric Population:
The escalating demand for hyperlipidemia drugs due to the rising geriatric population is supporting the growth of the market. In addition, older adults are more susceptible to lipid disorders. Apart from this, pharmaceutical companies are targeting the geriatric population with specialized medications tailored as per their unique needs. Additionally, the increasing focus on preventive measures and drug therapies to manage hyperlipidemia is bolstering the growth of the market. Furthermore, there is a rise in the need to reduce the risk of cardiovascular diseases, as they are closely associated with elevated lipid levels.
- Unhealthy Lifestyles:
The increasing prevalence of hyperlipidemia due to unhealthy lifestyles, including poor dietary choices, sedentary behaviors, and high-stress levels, is impelling the market growth. Besides this, diets rich in saturated fats, processed foods, and sugars contribute to elevated lipid levels in the blood. Furthermore, pharmaceutical companies are recognizing the impact of lifestyle factors on hyperlipidemia and are engaging in research and development (R&D) activities to create drugs that can effectively address these underlying causes. Additionally, healthcare professionals are focusing on drug therapy to manage hyperlipidemia.
Leading Companies Operating in the Global Hyperlipidemia Drugs Industry:
- Amgen Inc.
- AstraZeneca PLC
- Daiichi Sankyo Company Limited
- Eli Lilly and Company
- Esperion Therapeutics Inc.
- GlaxoSmithKline Pharmaceuticals Limited (GlaxoSmithKline Plc)
- Immuron Limited
- Ionis Pharmaceuticals Inc.
- Merck & Co. Inc.
- Pfizer Inc.
- Sanofi S.A.
Hyperlipidemia Drugs Market Report Segmentation:
By Drug Type:
- Statins
- Bile Acid Sequestrants
- Cholesterol Absorption Inhibitors
- PCSK9 Inhibitors
- Others
On the basis of the drug type, the market has been divided into statins, bile acid sequestrants, cholesterol absorption inhibitors, PCSK9 inhibitors, and others.
By End User:
- Hospitals
- Clinics
- Others
Based on the end user, the market has been classified into hospitals, clinics, and others.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Region-wise, the hyperlipidemia drugs market is segmented into North America (United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
Global Hyperlipidemia Drugs Market Trends:
Advancements in diagnostic technologies and medical devices, such as lipid profile tests and imaging techniques, are propelling the market growth. In addition, they aid in the early detection and monitoring of hyperlipidemia, which is impelling the market growth.
The growing demand for hyperlipidemia drugs on account of the rising prevalence of obesity among the masses across the globe is offering a positive market outlook. There is an increase in the demand for drugs that can effectively address higher levels of cholesterol and triglycerides in the bloodstream.
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