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Omega-3 Prescription Drug Market Growth Tied To Cardiovascular Disease Surge: Powering Innovation and Expansion in the Omega 3 Prescription Drugs Market by 2025
Omega 3 Prescription Drugs Market
What Is the Expected CAGR for the Omega 3 Prescription Drugs Market Through 2025?
The market for omega 3 prescription drugs has seen significant growth recently. Projected growth is from $1.61 billion in 2024 to $1.75 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. The expansion in the previous period is linked to factors like health consciousness, clinical studies, focus on cardiovascular health, medical advice, and management of chronic illnesses.
What's the Projected Size of the Global Omega 3 Prescription Drugs Market by 2029?
The market size for prescription drugs containing omega 3 is predicted to witness significant expansion in the coming years, reaching a value of "$2.55 billion by 2029 with an impressive compound annual growth rate (CAGR) of 9.9%. This anticipated surge in the forecast period is linked to factors including broader usage indications, changing consumer preferences, bespoke health solutions, personalized medicinal treatments, and growth in clinical proof. Key trends projected for the forecast period encompass personalized health solutions, broadened health conditions, inventive pharmaceutical formulations, the rising popularity of health supplements, and the advent of health applications and wearable devices.
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Top Growth Drivers in the Omega 3 Prescription Drugs Industry: What's Accelerating the Market?
The escalating incidences of cardiovascular diseases (CVDs) are anticipated to fuel the expansion of the omega-3 prescription drug market. Elevated levels of blood triglycerides, which resemble a fat-like compound, are connected to an amplified risk of cardiovascular conditions, with omega-3 supplements serving to control and decrease these triglyceride levels. For instance, the World Health Organization's 2022 report indicates that cardiovascular diseases consistently topped the list as the primary global cause of death, accounting for nearly a third of worldwide fatalities with approximately 20.5 million deaths. This figure is a marked increase from the prior estimate of 121 million deaths due to CVDs. As a result, the surge in cardiovascular disease cases propels the expansion of the omega-3 prescription drug market.
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What Are the Key Trends Driving Omega 3 Prescription Drugs Market Growth?
The advent of novel product innovations is a notable trend witnessing significant traction in the omega-3 prescription drug industry. Predominant firms in the omega-3 drug production sector are honing their focus on pioneering product innovations to bolster their market stance. To illustrate, the European Commission granted approval to DSM's plant-based omega-3 offerings for fish and animal substitutes across the EU in October 2022. DSM vouches that their product amplifies the nutritional aspects of plant-based food while fostering the growth of animal-based fish products akin to existing fish products. Such omega-3 supplement can augment the nutritional value of products without imposing detriment on the marine ecosystem.
What Are the Main Segments in the Omega 3 Prescription Drugs Market?
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
Subsegments:
1) By Vascepa: Pure EPA (Eicosapentaenoic Acid) Formulation, Indications For Cardiovascular Risk Reduction
2) By Lovaza: Combination Of EPA And DHA (Docosahexaenoic Acid), Indications For Hypertriglyceridemia Management
3) By Other Types: Epanova (Omega-3 Carboxylic Acids), Omega-3 Formulations In Clinical Trials, Other Prescription Omega-3 Products
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Which Top Companies are Driving Growth in the Omega 3 Prescription Drugs Market?
Major companies operating in the omega 3 prescription drugs market include Ionis Pharmaceuticals, Sarepta Therapeutics, Alnylam Pharmaceuticals, Wave Life Sciences, Dyno Therapeutics, BioNTech SE, Moderna Therapeutics, Silence Therapeutics, Arrowhead Pharmaceuticals, ProQR Therapeutics, Regulus Therapeutics, Stoke Therapeutics, Editas Medicine, Beam Therapeutics, Miragen Therapeutics, Biogen Inc., Pfizer Inc., GlaxoSmithKline plc, Arbutus Biopharma, Sanofi S.A., Benitec Biopharma, CRISPR Therapeutics, Dicerna Pharmaceuticals, Translate Bio, PepGen Inc., Sirnaomics Inc., Sterna Biologicals, Genevant Sciences, Genzyme Corporation.
Which Regions Will Dominate the Omega 3 Prescription Drugs Market Through 2029?
North America was the largest region in the omega 3 prescription drugs market in 2024. 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.
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