by Companies Harness Benefits of Bempedoic Acid to Gain FDA Approval for NDAs
Manufacturers in the cholesterol lowering drugs market are increasing research activities to include bempedoic acid for the development of new drugs. For instance, in May 2019, Esperion – a U.S. pharmaceutical company, announced the FDA approval for new drug applications (NDAs) involving the bempedoic acid.
Companies are harnessing the advantages of bempedoic acid to treat a host of health conditions such as hypercholesterolemia and to treat patients with high cardiovascular risks. As such, the hypercholesterolemia indication segment of the cholesterol lowering drugs market is projected to reach a value of ~US$ 19.6 Bn by 2027. Hence, healthcare providers in the market for cholesterol lowering drugs are recommending the intake of bempedoic acid with statins to lower complications of LDL (Low-density Lipoproteins) associated with hypercholesterolemia.
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Growing awareness about bad cholesterol is one of the key drivers that is triggering the growth of the cholesterol lowering drugs market. Companies are referring investigational studies to understand which drugs are well-tolerated in patients and make improvements according to the results.
Precision Medicines Encourage Decline of LDL-C Levels in Hyperchoesterolaemia Patients
In order to improve cardiovascular risk assessment, companies are increasingly adopting the ‘personalized’ approach to achieve better outcomes in patients. This trend has led to the concept of precision medicine in the market for cholesterol lowering drugs. The coronary artery disease indication segment of the cholesterol lowering drugs market is estimated to reach a value of ~US$ 14.9 Bn by 2027. Hence, manufacturers are increasing clinical trials that show promising outcomes of PCSK9 inhibitor monoclonal antibodies for the treatment of coronary artery diseases.
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Companies in the cholesterol lowering drugs market are increasing their production capacities to manufacture Evolocumab used by high-risk patients. They are also tapping into opportunities to manufacture Canakinumbab, an effective antibody that leads to significant decline in cardiovascular events. Manufacturers are developing improved PCSK9 inhibitors to treat hyperchoesterolaemia. They are focusing on secondary prevention statins to lower LDL-C in patients. Improved outcomes associated with CPSK9 inhibitors are translating into revenue sources for companies in the market for cholesterol lowering drugs.
Strategic Licensing Agreements Help Manufacturers Market Cholesterol Lowering Drugs in Europe
Various clinical trials have concluded that bile acid biosynthesis helps in reverse cholesterol transport (RCT). In a research published in MDPI, an open access publishing platform for scholarly research studies, reveals that RCT helps in reducing cholesterol via its conversion into bile acids in patients. On the other hand, companies are entering into licensing agreements to bolster their credibility credentials in the global cholesterol lowering drugs market. For instance, in January 2019, global pharmaceutical company Daiichi Sankyo Europe announced its European licensing agreement with Esperion, to market bempedoic acid and Ezetimibe combination tablet for cholesterol patients.
Strategic agreements are helping manufacturers to expand their cardiovascular portfolio, since cholesterol increases risks of coronary heart diseases. Companies are eyeing business expansions in the U.K. and Switzerland. Patients are increasingly benefitting from the advantages of bempedoic-induced drugs, as novel drug help to reduce fatty acid synthesis in liver.
Bempedoic-induced Drugs Reduce Incidence of Side Effects of Statins
Statins & combination drug class segment of the cholesterol lowering drugs market is expected to reach a value of ~US$ 19.8 Bn by 2021. However, side effects associated with statins, such as muscle pain and undesired reactions with other medicines, act as a barrier for its adoption by patients. Hence, manufacturers are introducing new class of oral cholesterol lowering drugs that are well tolerated in patients.
Improved drug formulations in new oral drugs are being used as an alternative to statins. Manufacturers in the cholesterol lowering drugs market are increasing production capabilities to include bempedoic acid in new drug formulations. They are increasing efforts to obtain approvals for bempedoic-induced drugs in Europe.
Moreover, companies in the market for cholesterol lowering drugs are increasing research activities to develop drugs using bempedoic acid to reduce incidences of heart attack and stroke in patients. High prevalence of LDL cholesterol is another driver fueling the demand for cholesterol lowering drugs.
Analysts’ Viewpoint
Top medical innovations in the cholesterol lowering drugs market primarily involve bempedoic acid in drug formulations. Apart from North America and Europe, manufacturers are leveraging opportunities in Asia Pacific, since governments of rapidly developing countries are increasingly investing toward the strengthening of their healthcare infrastructure.
Though statins are projected for widespread adoption in the coming years, its side effects are a major concern for healthcare companies. Hence, companies in the cholesterol lowering drugs market should increase awareness about the intake of statins with Ezetimibe or PCSK9 inhibitors to reduce LDL-C and boost drug tolerance in patients. They should increase production of PCSK9 inhibitors, since these drugs are anticipated to witness high adoption during the forecast period.
Cholesterol Lowering Drugs: Overview
High cholesterol level increases the risk of heart diseases and heart attacks. Medications can help improve and maintain proper cholesterol levels in the human body.
Cholesterol lowering medication includes statins, PCSK9 inhibitors, and cholesterol absorption inhibitors
Statins are widely used cholesterol drugs and play an important role in treating elevated cholesterol level and atherosclerosis.
Proprotein convertase subtilisin/kexin type 9 (PCSK9) is a new medication that decreases the low density lipoprotein cholesterol. It is approved for the treatment of atherosclerotic cardiovascular disease in patients who require reduction of LCL-C.
Cholesterol Lowering Drugs Market: Key Drivers
Increase in prevalence of coronary artery disease due to the formation of bad cholesterol is a major factor responsible for the global market growth
Prevalence of atherosclerosis, which is one of the main causes of coronary artery disease, is expected to increase in the near future, due to the rise in bad cholesterol. This is expected to boost the market growth.
According to the CDC database, 2017, over 365,914 people died in the U.S. due to coronary artery disease. About 18.2 million adults aged 20 years and older have coronary artery disease (about 6.7%).
Moreover, development of drug formulation for cholesterol lowering, new therapies such as emergence of PCSK9 inhibitors, and growing awareness about cardiovascular diseases are some of the major factors responsible for the growth of the cholesterol lowering drugs market
Cholesterol Lowering Drugs Market: Segmentation
Based on drug class, the cholesterol lowering drugs market has been segmented into statins and combination, PCSK9 inhibitors, bile acid sequestrants, fibrates, cholesterol absorption inhibitors, and others
In terms of indication, the cholesterol lowering drugs market has been divided into hypercholesterolemia, coronary artery disease, and higher triglycerides
In terms of distribution channel, the cholesterol lowering drugs market has been classified into hospital pharmacies, retail pharmacies, and online pharmacies
Each of the segments has been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights
The report provides current and future revenue (US$ Mn) for each of these segments for the period from 2017 to 2027, considering 2018 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2019 to 2027 along with market size estimations.
Cholesterol Lowering Drugs Market: Regional Overview
In terms of region, the global cholesterol lowering drugs market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been further divided into major countries and sub-regions.
The current and future market sizes, in terms of revenue (US$ Mn) of these regional markets and their major countries have been provided in the report for the period from 2017 to 2027, with their CAGRs for the period from 2019 to 2027
The study also offers a list of recommendations, highlights, and useful insights of the market, which would help new companies willing to enter the market and the existing companies to increase their market shares, and help in their decision-making process
Major Players in Cholesterol Lowering Drugs Market
The report concludes with the company profiles section that includes key information about major players in the market
Key players analyzed in this report include
- Sanofi
- Pfizer, Inc.
- GlaxoSmithKline plc
- Novartis AG
- Merck & Co., Inc.
- Amgen Inc.
- Takeda Pharmaceutical Company Limited
- Sun Pharmaceutical Industries Ltd.
- AbbVie, Inc.
Each of these players has been profiled in the report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments
Key Questions Answered in This Report on Cholesterol Lowering Drugs Market Report
- What is the sales/revenue generated by each drug class segment of the cholesterol lowering drugs market across all regions during the forecast period?
- What are the opportunities in the cholesterol lowering drugs market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which region is likely to expand at the fastest CAGR during the forecast period?
- Which cholesterol lowering drugs class, indication, and distribution channel segments are expected to generate maximum revenue globally in 2027? Which segment is projected to expand at the highest CAGR during the forecast period?
- What was the market share or position of different companies operating in the global market in 2018?
Cholesterol Lowering Drugs Market – Segmentation
Drug Class
- Statins & Combination
- PCSK9 Inhibitors
- Bile Acid Sequestrants
- Fibrates
- Cholesterol Absorption Inhibitors
- Others
Indication
- Hypercholesterolemia
- Coronary Artery Disease
- Higher Triglycerides
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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