Press release
Omega 3 Prescription Drugs Market worth $2.37 billion by 2028 at a CAGR of 9.8% within Forecast Period 2024-2033
Omega 3 Prescription Drugs Market Report
The Business Research Company offers in-depth market insights through Omega 3 Prescription Drugs Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The omega 3 prescription drugs market size has grown strongly in recent years. It will grow from $1.49 billion in 2023 to $1.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to health awareness, clinical research, cardiovascular health emphasis, medical recommendations, chronic diseases management.
The omega 3 prescription drugs market size is expected to see strong growth in the next few years. It will grow to $2.37 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to expanded indications, evolving consumer preferences, targeted health solutions, personalized medicine, clinical evidence expansion. Major trends in the forecast period include personalized health solutions, expanded health conditions, innovative formulations, health supplement popularity, health apps and wearables.
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Market Segmentation:
The Omega 3 prescription drugs market covered in this report is segmented -
1) By Drug Type: Vascepa, Lovaza, Other Type
2) By Application Type: Hypertriglyceridemia, Other Application Type
3) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
Major Driver - Omega-3 Prescription Drug Market Growth Tied To Cardiovascular Disease Surge
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.
Competitive Landscape:
Major companies operating in the omega 3 prescription drugs market report are Pfizer Inc., BASF SE, Merck & Co Inc., Novartis International AG, Sanofi S.A., AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Viatris Inc., AbbVie Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Eisai Co Ltd., Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Cipla Limited, Hikma Pharmaceuticals plc, Intas Pharmaceuticals Ltd., Recordati S.p.A., Vifor Pharma Management Ltd., Lupin Limited, Glenmark Pharmaceuticals Ltd., Alkem Laboratories Ltd., Sunovion Pharmaceuticals Inc., Cadila Healthcare Ltd., Torrent Pharmaceuticals Ltd., Wockhardt Ltd., Amarin Pharmaceuticals Ireland Ltd., Natrapharm Inc.
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Top Trend - Innovation In Omega-3 Prescription Drugs With Icosapent Ethyl Capsules Drives Market Growth
Major companies operating in the omega-3 prescription drug market are focusing on product launches, such as capsules, to work by decreasing the number of triglycerides made by the body. Capsules are pharmaceutical dosage forms consisting of a shell typically made of gelatin or a similar substance enclosing a specific quantity of medication, nutrients, or other active ingredients in a convenient and easily ingestible form. For instance, in March 2023, Hikma Pharmaceuticals, an England-based multinational pharmaceutical company that manufactures generic and in-licensed pharmaceutical products, launched Icosapent Ethyl Capsules, 0.5g, in the US. This is indicated for reducing triglyceride levels in adults with severe hypertriglyceridemia, containing eicosatetraenoic acid (EPA) known for its triglyceride-lowering effects. This launch innovates the market by addressing severe hypertriglyceridemia, meeting the rising demand for pharmaceutical-grade omega-3 products, and aligning with the market's focus on effective therapies for conditions like high triglyceride levels.
The Table Of Content For The Market Report Include:
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
5. Omega 3 Prescription Drugs Market Size And Growth
…..
27. Omega 3 Prescription Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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