The rising prevalence of obesity and associated cardiovascular diseases, the demand for antihyperlipidemic drugs to lower blood lipids and reduce health risks is increasing significantly. Antihyperlipidemic drugs, also known as lipid-lowering agents, help to lower lipids like cholesterol and triglycerides in the blood. They are widely prescribed medications for hyperlipidemia or high cholesterol conditions.
The global Antihyperlipidemic Drugs Market is estimated to be valued at US$ 15.67 Bn in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing obesity crisis: The increasing trend of obesity worldwide is a major factor augmenting the growth of the antihyperlipidemic drugs market. According to the World Health Organization, as of 2016, more than 1.9 billion adults aged 18 years and older were overweight and out of these over 650 million adults were obese. Obesity increases the risk of cardiovascular and heart diseases which require lipid-lowering medication. Hence, the growing obesity rates across the globe are expected to drive the demand for antihyperlipidemic drugs during the forecast period.
SWOT Analysis
Strength: Antihyperlipidemic Drugs helps in lowering high levels of lipids like cholesterol and triglycerides in the blood. This helps reducing the risk of heart attacks and strokes.
Weakness: Side effects of antihyperlipidemic drugs like muscle pain, weakness, digestive issues etc limits their use in some patients. Long term intake may also cause liver damage in few cases.
Opportunity: Growing prevalence of lifestyle diseases like obesity, diabetes which raises the risk of high cholesterol provides growth opportunities. Increasing health awareness also drives the demand.
Threats: Availability of alternative treatment options like nutraceuticals, dietary changes pose competition. Patent expiries of major drugs allow entry of generic versions.
Key Takeaways
The Global Antihyperlipidemic Drugs Market Size is expected to witness high growth.
Regional analysis: North America currently dominates the market owing to high awareness levels and developed healthcare infrastructure in countries like US and Canada. The Asia Pacific region is expected to register fastest growth due to growing medical needs of expanding geriatric population in China and India.
Key players operating in the Antihyperlipidemic Drugs market are Medtronic PLC, Sleepace, Evermind Inc., Awair Inc., and Eight Sleep. Medtronic PLC leads the market with wide treatment offerings. Sleepace and Evermind are startups focusing on digital solutions for sleep issues including those arising due to high cholesterol levels. Awair and Eight Sleep provide advanced sleep tracking devices assisting in lipid management.
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