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Cholesterol is a fat-like substance found in the blood which helps in the formation of hormones, vitamin D and other substances that help in digestion of the food. Liver and intestine helps in cholesterol formation in the body which can also obtained from food being consumed like eggs, fish, meat, and others. There are 2 types of cholesterol named low-density lipoprotein called as bad cholesterol which makes most of the body cholesterol and other called high-density lipoprotein sometimes also known as good cholesterol which helps in absorption of cholesterol and carrying it back to the liver. Moreover, an increase in high cholesterol leads to heart risks by developing fatty deposits in blood vessels. Although, cholesterol is required by the body, more than 240mg/dl is considered as the high cholesterol that affects the normal functioning of the body. High cholesterol may be due to unhealthy diet, genetic disease, type 2 diabetic, kidney disease, and others.
Key Market Driver -
Prevalence of high cholesterol
Key Market Restraint -
Increase in the geriatric population, increase in demand for cholesterol-lowering drugs, increase in the prevalence of high cholesterol, treatment, and management of cholesterol, and others are influencing the growth of the market. Furthermore, lack of exercise, changing lifestyle, consumption of trans and saturated fat, smoking, and others are the major factors driving the growth of the market during the forecast period. According to WHO, the global prevalence of high cholesterol was 39% amongst which 37% consisted of males and 40% female. Furthermore, the research and development activities by manufacturers for product pipelining and market expansion is triggering the growth of the market in the near future. For instance, FDA approved cholesterol drugs are alirocumab and evolocumab both of these medications are self-administrated which can be given through injections once or twice a month. In addition to this, these medications belong to a new category of medications named PCSK9 inhibitors which are expected to emerge as potential opportunities for the growth of the market during the forecast period.
However, stringent regulations, delay in FDA approval, medications recall, and others are hampering the growth of the market during the forecast period.
Globally, the cholesterol lowering drugs market is segmented on basis of drug classes, disease type, and distribution channels. Based on the drug class, the market is segmented into statins, bile acid sequestrants, nicotinic acid, PCSK9 inhibitors, and others. Based on the disease type hypercholesterolemia, cardiovascular, hyperlipidemia, and others. Based on the distribution channels, the market is classified into hospitals pharmacies, Retail pharmacies, online pharmacies, and others.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The major companies in the global cholesterol lowering drugs market include market include AstraZeneca, Pfizer Inc., Novartis AG, AbbVie Inc., Sun Pharmaceutical Industries Ltd, Sanofi, Merck & Co., Inc., Amgen Inc., Dr. Reddy's and others.
Geographically, the cholesterol lowering drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is the largest contributor to the market owing to rise in prevalence of high cholesterol in major European countries such as Germany, France, Italy, Spain, U.K, increased capita income expenditure, increased healthcare infrastructure. North America is dominating the market owing to the changes in lifestyle, huge investment in the healthcare industry, and rise in heart diseases.
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For instance, according to Centers for Disease Control and Prevention, 610,000 people die due to heart disease in the U.S. every year. Asia Pacific is anticipated to experience vast growth in the market owing to an increase in healthcare awareness, and an increase in government initiatives towards the healthcare sector, and an increase in the number of research activities. Latin America and Middle East are also anticipated to experience lucrative growth in the market.
By Drugs Class
By Disease Type
By Distribution Channel
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