Hypercholesterolemia drugs: key market research findings
- The Americas dominate the market geographically
- Statins account for a majority share of the market’s revenue
- Key vendors – AstraZeneca, Merck, Pfizer, Aegerion Pharmaceuticals, AbbVie, and Sanofi
Technavio’s market research analysts predict the global hypercholesterolemia drugs market to grow at a CAGR of around 7% between 2016 and 2020. The growth of this market can be accredited to the change in ATP guidelines for the management of hypercholesterolemia. As per these guidelines, statin therapy can be prescribed to people with a 7.5% or higher risk of developing CVD. Furthermore, the National Institute for Health and Care Excellence (NICE) has recommended that the National Health Service (NHS) should broaden the statin eligible pool by including people with a 10% risk of developing CVD. In 2015, the global market for hypercholesterolemia was dominated by the Americas with a market share of around 57%. However, the hypercholesterolemia drugs market in the Americas is expected to decline over the forecast period owing to competition from the generic versions of branded drugs.
The new market research report from Technavio presents a breakdown and analysis of the hypercholesterolemia drugs segments based on the drug class.
“The market is now expecting the entry of cost-effective OTC versions of branded drugs. Branded drugs are typically patented, which accounts for their high prices. OTC medications, on the other hand, are not patented, and the manufacturing costs are low as these drugs are not strictly regulated. As a result, the market price of OTC drugs is less, making it easier for patients to afford such drugs. This also triggers a rise in the consumption of these medicines and lowers the chances of treatment withdrawal,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
During 2015, the statin segment accounted for around 80% of the overall market revenue to become the key revenue generating segment of the hypercholesterolemia drugs market across the globe. Statins, or HMG-CoA reductase inhibitors, are structural analogs of the HMG-CoA enzyme. They block HMG-CoA reductase enzyme activity, which catalyzes the rate-limiting step in new cholesterol synthesis. By lowering blood cholesterol levels, statins bring down the danger of chest pain (angina), heart attack, and stroke caused by a blocked blood vessel. They have a beneficial effect on cardiovascular morbidity and mortality.
The key vendors in the global hypercholesterolemia drugs market include AstraZeneca, Merck, Pfizer, Aegerion Pharmaceuticals, AbbVie, and Sanofi. The global hypercholesterolemia drugs market is highly competitive due to the presence of well-established global and regional providers. New players are also entering the market as they have tremendous growth opportunities. Also, large vendors are engaged in strategic alliances to market and manufacture drug effectively.
A more detailed analysis is available in the Technavio report, Global Hypercholesterolemia Drugs Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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