Pune, India, Aug. 18, 2021 (GLOBE NEWSWIRE) -- The global Cholesterol Lowering Drugs Market size is expected to gain momentum owing to the increasing geriatric population during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Cholesterol Lowering Drugs Market, 2021-2028.” The advent of new medicine classes, changes in lifestyles, a lack of exercise, and an increase in saturated and trans-fat intake are expected to fuel the rise of the cholesterol-lowering drug industry. Furthermore, an increase in smoking and alcohol intake raises the risk of elevated cholesterol, fueling market expansion. For instance, in June 2021, Dr. Reddy's Laboratories is recalled 2,980 bottles of Atorvastatin Calcium pills in the United States. Adults and children over the age of ten are prescribed atorvastatin to decrease cholesterol levels in the blood.
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Drivers & Restraints-
Increasing Demand for Statin Drugs to Stimulate Growth
The increasing demand for statin drugs is expected to boost the global Cholesterol Lowering Drugs Market growth during the forecast period. The cholesterol-lowering pharmaceuticals market has been divided into statins and combinations, and others, based on medication class. This segment is expected to dominate during the forecast period due to the improved effectiveness and cost savings of this pharmaceutical class. The PCSK9 inhibitor segment is predicted to grow due to improved resistance, drug approval in this class, and price modifications by companies.
COVID-19 Impact-
COVID-19 is an unprecedented global public health crisis that has impacted practically every business, with long-term consequences expected to stifle cholesterol-lowering drugs during the forecast period. The report examines COVID-19 by looking at consumer behavior and demand changes, purchasing patterns, supply chain re-routing, market dynamics, and government action.
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Segments-
By drug class, the market is segmented into statins, bile acid sequestrants, nicotin acids, PCSK9 Inhibitors, and others. On the basis of disease type, the market is categorized into hypercholesterolemia, cardiovascular diseases, hyperlipidaemia, and others. On the basis of distribution channels, the market is segregated into hospital pharmacies, online pharmacies, retail pharmacies, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
The report for cholesterol-lowering drugs examines market analysis and presentation of the market's drivers, restraints, opportunities, demand factors, market size, forecasts, and trends. In addition, the paper provides a synthesis of main and secondary research findings. Primary research entails in-depth interviews and examination of the primary respondents' viewpoints. Secondary research entails a thorough examination of secondary data sources available in both the public and private sectors.
REGIONAL INSIGHTS
Rising Prevalence of High Cholesterol to Promote Growth in Europe
Europe is expected to hold the largest global Cholesterol Lowering Drugs Market share during the forecast period. This is due to increasing expenditure and healthcare infrastructure in countries such as Germany, Italy, and Spain, which are the largest contributors to the growth in the region.
Asia Pacific is anticipated to hold a significant position in the market. This is due to increasing healthcare awareness, research activities, and government initiatives in the healthcare sector to provide opportunities in the region.
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Competitive Landscape-
Manufacturers to Focus on R&D Investments to Offer Advanced Products
Some of the key strategies implemented by prominent firms competing in the Cholesterol Lowering Drugs Market include new product registrations for early diagnosis, strategic partnerships for mergers, acquisitions, marketing, a broad distribution channel, and substantial R&D spending. The major participants in the cholesterol-lowering medicine market have been identified, and each has been profiled for its unique business characteristics.
Industry Development-
- October 2018: Repatha, a biological therapy that aids in reducing cholesterol levels, was made available in the United States by Amgen.
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List of Key Players Profiled in the Global Market for Cholesterol-Lowering Drugs:
- AstraZeneca
- Pfizer Inc.
- Novartis AG
- AbbVie Inc.
- Sun Pharmaceuticals Industries Ltd.
- Sanofi
- Merck & Co.
- Amgen Inc.
- Dr. Reddy’s
Global Cholesterol Lowering Drugs Market Segmentation
By Drugs Class
• Statins
• Bile Acid Sequestrants
• Nicotinic Acid
• PCSK9 Inhibitors
• Others
By Disease Type
• Hypercholesterolemia
• Cardiovascular Diseases
• Hyperlipidaemia
• Others
By Distribution Channel
• Hospital Pharmacies
• Online Pharmacies
• Retail Pharmacies
• Others
By Geography
• North America (USA, Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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