Dublin, May 30, 2023 (GLOBE NEWSWIRE) -- The "Omega 3 Prescription Drugs Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global omega 3 prescription drugs market is expected to grow from $1.37 billion in 2022 to $1.49 billion in 2023 at a compound annual growth rate (CAGR) of 8.74%. The omega 3 prescription drugs market is expected to reach $2.09 billion in 2027 at a CAGR of 8.84%.
Major players in the omega 3 prescription drugs market are Abbott Laboratories, Amarin Pharmaceuticals Ireland Ltd., GSK PLC., Natrapharm Inc., Viatris Inc., Grupo Ferrer Internacional SA, Camber Pharmaceuticals Inc., Dr Reddy's Laboratories Ltd., Zydus Group, Hikma Pharmaceuticals PLC., KD Pharma Group, and Woodward Pharma Services.
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The omega-3 prescription drug lowers the number of triglycerides (a fat-like substance) in the blood and raises the levels of good cholesterol (HDL) in the body. Omega-3 drugs or fatty acids are nutrients obtained from food (or supplements) that assist in developing and maintaining a healthy body and are critical in constructing every cell wall.
The main drug types of omega-3 prescription drugs include vascepa, lovaza, and other types. The vascepa drug is used in adults to reduce the risk of heart attack, stroke, and certain types of heart problems that necessitate hospitalization.
Vascepa is an FDA-approved medication used to reduce the risk of certain cardiovascular problems in adults who have high triglyceride levels and two or more additional risk factors for cardiovascular diseases, such as high blood pressure, high cholesterol, or obesity. The application of omega-3 prescription drugs includes hypertriglyceridemia and other application types. The drugs are distributed through hospital pharmacies, retail pharmacies, and online pharmacies.
New product innovations have emerged as a key trend gaining popularity in the omega-3 prescription drug market. Major companies operating in the manufacturing of omega-3 drugs are focused on developing new product innovations to strengthen their position in the market.
For instance, in October 2022, the European Commission gave the green light to plant-based omega-3 products from DSM for fish and animal substitutes throughout the EU. DSM claims that the product enhances plant-based foods' nutritional profile and enables the development of fish products based on animals that will be similar to current fish products. This omega 3 supplement can be used to enhance the nutritional content of goods without having an adverse effect on the marine ecosystem.
In August 2021, Woodward Pharma Services, a US-based pharmaceutical company, acquired Lovaza (omega-3-acid ethyl esters) capsules from GlaxoSmithKline for an undisclosed amount. With this acquisition, Woodward Pharma will now have the license/authority to use Lovaza capsules in adult patients with severe hypertriglyceridemia (a high level of a certain type of fat (triglycerides) in the blood). Lovaza is a prescription omega-3 product approved by the FDA and is a medical-grade supplement for high triglyceride management. GlaxoSmithKline is a UK-based pharmaceutical and biotechnology company.
North America was the largest region in the omega 3 prescription drugs market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the omega 3 prescription drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the Omega 3 Prescription Drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Rising cases of cardiovascular diseases (CVDs) are expected to contribute to the growth of the omega-3 prescription drug market. Increased blood triglyceride levels (a fatty-like substance) are linked to a higher risk of cardiovascular disorders, and omega-3 supplements aid in regulating and lowering triglyceride levels.
For instance, according to the 2021 World Health Organization (WHO) report, an estimated 17.9 million people died from CVDs, accounting for 32% of global deaths. The causes of 85% of these fatalities were heart attacks and strokes. Therefore, rising cases of cardiovascular diseases (CVDs) drive the growth of the omega-3 prescription drug market.
The omega 3 prescription drugs market consists of sales of EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $1.49 billion |
| Forecasted Market Value (USD) by 2027 | $2.09 billion |
| Compound Annual Growth Rate | 8.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Omega 3 Prescription Drugs Market Characteristics
3. Omega 3 Prescription Drugs Market Trends And Strategies
4. Omega 3 Prescription Drugs Market - Macro Economic Scenario
4.1. COVID-19 Impact On Omega 3 Prescription Drugs Market
4.2. Ukraine-Russia War Impact On Omega 3 Prescription Drugs Market
4.3. Impact Of High Inflation On Omega 3 Prescription Drugs Market
5. Omega 3 Prescription Drugs Market Size And Growth
5.1. Global Omega 3 Prescription Drugs Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Omega 3 Prescription Drugs Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Omega 3 Prescription Drugs Market Segmentation
6.1. Global Omega 3 Prescription Drugs Market, Segmentation By Drug Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Vascepa
- Lovaza
- Other Type
6.2. Global Omega 3 Prescription Drugs Market, Segmentation By Application Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Hypertriglyceridemia
- Other Application Type
6.3. Global Omega 3 Prescription Drugs Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
7. Omega 3 Prescription Drugs Market Regional And Country Analysis
7.1. Global Omega 3 Prescription Drugs Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Omega 3 Prescription Drugs Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/z8nreu
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