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Fibrate Drugs Market 2024 New Trends, Share, Size, Growth Analysis and Forecast 2033
Fibrate Drugs Market
The Business Research Company presents an extensive market research report on the Fibrate Drugs Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The fibrate drugs market size has grown steadily in recent years. It will grow from $3.36 billion in 2023 to $3.53 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to emergence of lipid management, cholesterol management focus, clinical research and trials, cardiovascular risk reduction, combination therapies.
The fibrate drugs market size is expected to see strong growth in the next few years. It will grow to $4.45 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to evolving treatment guidelines, focus on residual risk, precision medicine advancements, innovation in drug delivery. Major trends in the forecast period include alternative formulations, telemedicine integration, fibrates in high-risk groups, targeting triglyceride levels, focus on hdl raising .
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Key Market Players:
Major companies operating in the fibrate drugs market report are Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi SA, Kowa Company Ltd., Bristol-Myers Squibb Co, Abbott Laboratories, AstraZeneca plc, GlaxoSmithKline Plc, Takeda Pharmaceutical Company, Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Mylan N.V., Daiichi Sankyo Co Ltd., Fresenius Kabi AG, Macleods Pharmaceuticals Ltd., Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Aurobindo Pharma Limited, Cipla Inc., Zydus Lifesciences Ltd, Lupin Limited, Glenmark Pharmaceuticals, Torrent Pharmaceuticals Ltd., Natco Pharma, Hetero Drugs Ltd
Market Drivers:
The increased incidence of cardiac diseases is expected to propel the growth of the fibrate drug market going forward. Cardiac diseases encompass a range of conditions affecting both the heart and the blood vessels. It includes coronary heart disease, congenital heart disease, and others. Fibrates are used as a treatment to prevent further heart attacks and strokes in people who already have the condition of their circulatory system, resulting in driving the fibrate drug market. For instance, in May 2023, according to the Centers for Disease Control and Prevention Highlights, a US-based intergovernmental organization, coronary heart disease was estimated to kill 375,476 people in 2021. Furthermore, in December 2022, according to data published by New York government, in the United States, heart disease claims the lives of about 697,000 people annually, or 1 in every 5 fatalities where around 805,000 Americans experience a heart attack each year among which 605,000 of these result in a first-time heart attack, while 200,000 are caused by previous heart attacks. Therefore, the increased incidence of cardiac diseases is driving the growth of the fibrate drug market.
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https://www.thebusinessresearchcompany.com/report/fibrate-drugs-global-market-report
The fibrate drugs market covered in this report is segmented -
1) By Drug Type: Clofibrate, Fenofibrates, Fenofibric Acids, Gemfibrozil, Other Drugs
2) By Indication: Hypercholesterolemia, Heart Attacks, Other Indications
3) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy
4) By End User: Hospitals, Homecare, Specialty Clinics, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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