The pandemic witnessed higher demand for lipid-based supplements owing to their health-beneficial properties. For instance, as per an NCBI study published in October 2021, COVID-19 infection influences the lipid profile, leading to dyslipidemia, which might require appropriate treatment. Owing to its antiviral, anti-inflammatory, immunomodulatory, and cardioprotective activities, statin therapy is considered a valuable tool for improving COVID-19 outcomes. As a result, the consumption of lipid nutritional products increased during the pandemic and positively impacted the market. The market is expected to continue the upward trend over the forecast period as the incidence of cardiovascular diseases has increased owing to the outbreak of the pandemic.
The increasing prevalence of diabetes and cardiac diseases and the growing geriatric population are major drivers for the market. For instance, according to the 2022 American Heart Association (AHA) report, approximately 244.1 million people were living with ischemic heart disease (IHD) around the world, and North Africa and the Middle East, Central and South Asia, and Eastern Europe had the highest prevalence rates of IHD in the world in 2021. This burden of cardiovascular diseases is further expected to increase due to the high prevalence of associated risk factors such as hypertension, obesity, smoking, diabetes, and sedentary lifestyles. Lipids are vital biomolecules in the proper functioning of the metabolism and lipid-altering medication has been proven to reduce cardiovascular risk.
Moreover, with the increase in the elderly age group, the lipid regulators market is expected to surge as this age group is prone to various chronic diseases such as cardiovascular diseases. As per the World Aging Report 2022, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. By 2050, the number of people aged 65 years or over worldwide is projected to be more than twice the number of children under age 5 and about the same as the number of children under age 12.
On the other hand, low awareness of lipid regulators and the introduction of low cost generics are likely to hinder the market growth over the forecast period.
Lipid Regulators Market Trends
The Branded Statins Segment is Expected to Witness Considerable Growth Over the Forecast PeriodBranded statins are more effective than other lipid-regulating drugs at lowering LDL-cholesterol concentrations. Some of the statins available in the market include atorvastatin, fluvastatin, pravastatin, rosuvastatin, and simvastatin. These branded statins are majorly used for treating dyslipidemia. Dyslipidemia, defined as elevated total or low-density lipoprotein (LDL) cholesterol levels or low levels of high-density lipoprotein (HDL) cholesterol, is an important risk factor for coronary heart disease (CHD) and stroke.
The increasing diabetic population is expected to propel the segment growth as the diabetic population is prone to a higher incidence of dyslipidemia. For instance, as per the World Health Organization, there are over 400.0 million people with diabetes across the world, and its treatment constitutes around 12.0% of the total healthcare expenditure on a global scale. It has emerged as a global epidemic and affected millions worldwide. Currently, about 10% of all diabetes cases are type 1, and the remaining are type 2. The statins competitively inhibit HMG-CoA reductase and lower lipid levels in diseased populations.
North America is Expected to Witness Significant Growth Over the Forecast PeriodNorth America is expected to witness significant growth over the forecast period. The growth is due to factors such as increasing obesity, diabetes, and product launches by the key players. For instance, according to OECD data published in May 2021, the North American countries of the United States and Mexico have one of the highest prevalences of obesity and diabetes in the world. Moreover, being overweight or obese increases the chances of developing the common type of diabetes, type 2 diabetes. As the presence of diabetes increases the risk of dyslipidemia, the demand for lipid regulators is expected to increase over the forecast period. For instance, as per the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) data updated in December 2021, more than 34.2 million people had diabetes (or 10.5% of the United States population). The same source also stated that an estimated 26.9 million people of all ages had been diagnosed with diabetes (8.2% of the United States population). Of the people diagnosed with diabetes, 210,000 are children and adolescents younger than 20, including 187,000 with type 1 diabetes.
Key product launches, high concentration of market players or manufacturers' presence, acquisitions and partnerships among major players, and increasing cases of obesity in the United States are some of the factors driving the growth of the lipid regulators market in the country. For instance, according to CDC data updated in May 2022, more than 41.9% of Americans were obese. The prevalence of obesity in the United States increased from 30.5 to 41.9%. The prevalence of severe obesity rose from 4.7% to 9.2% during the same period. The CDC has identified obesity as the leading cause of preventable death in the United States, and it is one of the leading causes of chronic diseases both worldwide and in the United States. Obesity-related disorders, known as comorbidities, include cardiovascular diseases and some cancers. Increasing obesity requires cholesterol control, wherein lipid regulators come into play, which is expected to boost market growth over the forecast period in the United States.
Lipid Regulators Industry OverviewThe lipid regulators market is highly competitive and fragmented as the global key players manufacture the majority of the lipid regulators. Market leaders with more funds for research and better distribution systems have established their position in the market. Some market players are AstraZeneca, AbbVie Inc., Amgen, Pfizer, and Teva Pharmaceuticals, among others.
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Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing Prevalence of Diabetes and Cardiac Diseases
4.2.2 Growing Geriatric Population
4.3 Market Restraints
4.3.1 Low Awareness of Lipid Regulators
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
188.8.131.52 Branded statins
184.108.40.206 Statin combinations
220.127.116.11 Generic statins
18.104.22.168 Fibric-acid derivatives
22.214.171.124 Bile-acid sequestrants
126.96.36.199 Nicotinic acid derivatives
188.8.131.52 Other New Products
5.2.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.2.4 Middle East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East and Africa
5.2.5 South America
220.127.116.11 Rest of South America
6.1.1 AbbVie Inc
6.1.3 Andrx Corporation
6.1.5 Bristol-Myers Squibb
6.1.6 Merck KGaA
6.1.9 Teva Pharmaceuticals
A selection of companies mentioned in this report includes:
- AbbVie Inc
- Andrx Corporation
- Bristol-Myers Squibb
- Merck KGaA
- Teva Pharmaceuticals