Dyslipidemia Drugs Market to Decline at 10.30% CAGR between 2015 and 2023, Impending Patent Expiry to Decrease Profit Margins of Drugmakers
The research report, titled “Dyslipidemia Drugs Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” states that the impending patent expiry of blockbuster dyslipidemia drugs is likely to dilute profit margins of drugmakers in this market. This factor is expected to influence the global dyslipidemia drugs market negatively over the forecast period, resulting in a decline in its market valuation.
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Transparency Market Research (TMR) has recently published a market study on the global market for dyslipidemia drugs and projected that this market will decline at a CAGR of 10.30% during the period from 2015 to 2023. The worldwide dyslipidemia drugs market stood at US$17.9 bn in 2014. Analysts at TMR estimate the overall value of the market to reach US$6.9 bn by the end of the forecast period.
The delay in the approval of new dyslipidemia drugs is also projected to hamper the growth of this market significantly in the coming years. However, the increasing patient pool, suffering from an excess of cholesterol and other defects caused by triglyceride, is likely to drive the demand for dyslipidemia drugs in the near future, states the study.
Bile acid resins, statins, niacins, omega-3 fatty acid derivatives, fibric acid, cholesterol absorption inhibitors, and combination drugs are the major therapeutics available in the global dyslipidemia drugs market. As per the report, the statins segment led the overall market in 2014 and is projected to retain its position during the forecast period.
The report segments the global market for dyslipidemia drugs into Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. North America among all, dominated the worldwide dyslipidemia drugs market in 2014. Favorable government policies for drug approval in this region, together with the continual rise in the prevalence of dyslipidemia, have substantially propelled the North America market for dyslipidemia drugs.
The same year, Europe occupied the second position in the worldwide dyslipidemia drugs market with a share of around 25%. The higher disposable income of consumers in the region allows them to afford branded formulation. This in turn provides favorable growth opportunities to drug manufacturers, in this regional market, states the report.
In Europe, Germany was the biggest domestic dyslipidemia drugs market in 2014. It is likely to maintain its dominance over the forecast period, owing to the increasing incidence of dyslipidemia, resulting in the high demand for dyslipidemia drugs.
Abbott Laboratories, Amgen Inc., AstraZeneca Plc, Bayer AG, Mylan N.V., Bristol-Myers Squibb Co., Novartis AG, Pfizer Inc., Merck & Co. Inc., Shionogi & Co. Ltd., Teva Pharmaceutical Industries Ltd., and Takeda Pharmaceutical Co. Ltd. are some of the major participants in the global dyslipidemia drugs market, mentioned in this report.
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