03 December 2020
Visiongain has published a new report on Cholesterol Lowering Drugs Market Report 2021-2031: Forecasts by Drug Class (Statins and Fixed-Dose Combinations, Cholesterol Absorption Inhibitors, Ion Exchange Resins, Fibrates, PCSK9 Inhibitors, Novel Cholesterol-Lowering Drugs, Bile Acid Sequestrants and others), by Indication (Hypercholesterolemia, Coronary Artery Disease, Higher Triglycerides), by Drug Type (Generic drugs and Branded drugs), by Route of Administration (Oral, Parenteral and Others), by End-User (Hospitals, Homecare, Specialty Clinics and Others), by Distribution Channel (Hospital Pharmacy, Retail pharmacy, Ecommerce and Others) PLUS Profiles of Leading Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Cholesterol Lowering Drugs market was valued at US$ xx Million in 2020 and is projected to reach at a market value of US$ xx Million by 2031. North America dominated the global Cholesterol Lowering Drugs market and is projected to witness CAGR of XX% during the first half of the forecast period i.e. 2021 to 2031.
COVID-19 Impact on Cholesterol Lowering Drugs Market
COVID-19 impact through different recovery models such as V-shaped, U-shaped, W-shaped, and L-shaped; has been taken into consideration while estimating and forecasting the Cholesterol Lowering Drugs market. Different recovery scenarios are also included in the report for all the segments and regions/nation. The recovery scenarios based on which market has been forecasted and analysed herein the report are mentioned below:
Increasing research and development in Cholesterol Lowering Drugs
Increasing risk of high cholesterol and associated diseases has lead various leading drug manufactures to increase their research and development activities for cholesterol lowering drugs. Research and development activities for cholesterol lowering drugs are helping manufactures to increase demand of cholesterol lowering drugs for the treatment of cholesterol and associated diseases. Currently, many of the manufacturers have launched their product portfolios in cholesterol lowering drugs arena which have helped to fulfil demand and to work as driver for the market.
Increasing geriatric population around the world
Over the last few years, number of geriatric population has increased very fast around the world. All the regions are facing rapid increase in the geriatric population. For instance: According to United Nations, Department of Economic and Social Affairs, Population Division geriatric population (persons aged 65 or over) was 702.9 million in 2019. Geriatric population are at high risk of developing high cholesterol and cholesterol associated diseases and requires treatment for cholesterol lowering. Continuous increase in number of the geriatric population is increasing demand for cholesterol lowering drugs around the world.
Increasing Strategic Agreements in Cholesterol Lowering Drugs market
Manufactures present in the market are acquiring various agreements or license in order to expand their product portfolio with most credible credentials in the market focus segment. These strategic agreements are expected to create various opportunities in cholesterol lowering drugs market.
Top companies (Pfizer, Daiichi Sankyo, AbbVie, Novartis and Sanofi) constitute more than XX% share of the global Cholesterol Lowering Drugs market. Other companies profiled in the report include: AstraZeneca, Merck & Co, Kowa Company, Amgen and Bristol-Myers Squibb (BMS) among others Some of the key developments are listed below:
• In February 2020, Esperion has received U.S. Food and Drug Administration (FDA) approval for NEXLETOL (bempedoic acid) which is available in a tablet, for oral administration for non-statin LDL-Cholesterol (LDL-C) lowering. NEXLETOL is a first-in-class ATP Citrate Lyase (ACL) inhibitor which helps to lowers LDL-Cholesterol (LDL-C) by administration of cholesterol synthesis in the liver. The approval will help company to increase its presence in the market.
• In 2017, Dr Reddy's Laboratories Ltd. has launched generic Ezetimibe and Simvastatin tablets administration for lowering cholesterol. Through this development company will widened their market focused product portfolio.
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