Press release
Omega 3 Prescription Drugs Global Market Types and Applications, Drivers, Ongoing Trends, Future Demand, Challenges, Top Companies And Forecast 2024-2033
Omega 3 Prescription Drugs Market Size
Omega 3 Prescription Drugs Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $2.37 billion In 2028 At A CAGR Of 9.8% :
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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Omega 3 Prescription Drugs Market Major Segments
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
Key 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.
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Prominent Trend - European Commission Approval For Plant-Based Omega-3 Products
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 like 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.
Omega 3 Prescription Drugs Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the omega 3 prescription drugs market in 2023. 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, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Omega 3 Prescription Drugs Market Report Structure
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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