Presence of guidelines recommending the use of statins, rise in prevalence of hyperlipidemia across world & surge in healthcare expenditure are boost the market

PORTLAND, OR, UNITED STATES, October 14, 2020 /EINPresswire.com/ -- According to the report, the global antihyperlipidemic drug industry was pegged at $9.46 billion in 2019 and is projected to reach $16.86 billion by 2026, registering a CAGR of 7.5% from 2019 to 2026.

Incentives for market growth

Presence of guidelines recommending the use of statins, rise in prevalence of hyperlipidemia across the globe, and surge in healthcare expenditure have boosted the global antihyperlipidemic drug market. However, upcoming patent expiration of drugs hampers the market growth. On the contrary, high growth potential in developing economies is expected to create lucrative opportunities in the near future.

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Statins segment dominated the market

The statins segment held the largest share in 2018, contributing to nearly two-fifths of the market, owing to surge in the incidence of cardiovascular disorders and its ability to reduce the risk associated with heart attacks. However, the PCSK9 inhibitors segment is projected to register the fastest CAGR of 9.7% during the forecast period, owing to benefits offered such as drastic reduction of LDL levels in the blood.

North America region held the largest share

The market across North America held the largest share in 2018, accounted for nearly one-third of the market, owing easy availability of the antihyperlipidemic drugs and sedentary lifestyle in the region. On the contrary, Asia-Pacific region is expected to register the fastest CAGR of 8.6% from 2019 to 2026, owing to surge in awareness related to the use of antihyperlipidemic drugs and surge in the healthcare expenditure.

Major market player

Boehringer Ingelheim GmbH
Merck KGaA
Johnson and Johnson
Bayer AG
Pfizer, Inc.
Takeda Pharmaceutical Co., Ltd.
AstraZeneca plc
Daiichi Sankyo Company
Sanofi S.A.
Novartis International AG

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Allied Analytics LLP
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