Global Fibrate Drugs Market 2024 : Trends, Business Growth And Major Driving Factors | Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co Inc., AbbVie Inc., Bayer AG

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Fibrate 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 $4.45 billion In 2028 At A CAGR Of 6.0%.

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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Fibrate Drugs Market Major Segments
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

Key Driver - Rising Incidence Of Cardiac Diseases Fuels Growth In Fibrate Drug Market

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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Prominent Trend - Innovations Propel Growth In Fibrates Drugs Market

Product innovations are a key trend gaining popularity in the fibrate drugs market. Major companies operating in the fibrate drugs market are focused on developing innovative solutions to sustain their position in the market. For instance, in November 2021, Lupin Limited, an India-based innovation-led transnational pharmaceutical company, launched an authorized generic version of Antara (Fenofibrate) Capsules, 30 mg, and 90 mg. In adult patients with primary hypercholesterolemia, fenofibrate capsules are recommended as an adjunctive therapy to diet to lower elevated levels of low-density lipoprotein cholesterol (LDL-C), total cholesterol (total-c), triglycerides (TG), and apolipoprotein B (Apo B), and to raise levels of high-density lipoprotein cholesterol (HDL-C).

Fibrate Drugs 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

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Largest And Fastest Growing Region In The Market
North America was the largest region in the fibrate drugs market in 2023. The regions covered in the fibrate 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. Fibrate Drugs Market Report Structure
3. Fibrate Drugs Market Trends And Strategies
4. Fibrate Drugs Market - Macro Economic Scenario
5. Fibrate Drugs Market Size And Growth
…..
27. Fibrate Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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