April 20, 2024

Antihyperlipidemic Drugs Market Growth Accelerated by Emerging Markets

Antihyperlipidemic drugs are used for reducing high cholesterol and triglyceride levels in the blood. These drugs help reduce the risk of heart attacks and strokes by lowering blood lipids and help in maintaining overall heart health.

The global Antihyperlipidemic Drugs Market is estimated to be valued at US$ 15.67 Bn in 2023 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:
Factors such as rising healthcare expenditure, increasing focus on management of non-communicable diseases, and growing awareness about cardiovascular conditions are fueling the growth of antihyperlipidemic drugs in developing regions. Additionally, key drug manufacturers are expanding their presence in developing economies to tap into high growth opportunities. This has accelerated the demand for high quality yet cost effective lipid-lowering medications in Asia Pacific, Latin America, Middle East, and Africa. Growing healthcare infrastructure and increasing penetration of health insurance in emerging nations will promote the regular use of antihyperlipidemic therapy and aid the market growth over the coming years.

Segment Analysis
The global antihyperlipidemic drugs market is segmented into statins, bile acid sequestrants, cholesterol absorption inhibitors, fibrates, PCSK9 inhibitors, and combination drugs. Statins dominate the market with around 50% share as they are effective in reducing cardiovascular risks and are available in generic forms. They lower LDL or “bad cholesterol” and triglyceride levels and increase HDL or “good cholesterol” levels. Their widespread use and affordability make statins the preferred pharmacological treatment for high cholesterol.

Key Takeaways
The Global Antihyperlipidemic Drugs Market Size  is expected to witness high growth during the forecast period of 2024 to 2031.

Regional analysis North America currently dominates the antihyperlipidemic drugs market owing to the rising obesity rates, unhealthy lifestyles, and increasing incidence of cardiovascular diseases in the region.

Key players operating in the antihyperlipidemic drugs market are Medtronic PLC, Sleepace, Evermind Inc., Awair Inc., and Eight Sleep. The market is expected to grow at a CAGR of 24% during the forecast period with the market size reaching US$ 15.67 Billion by 2024 from US$ 11.23 Billion in 2023.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it