Market Challenges And Opportunities

Global Antihyperlipidemic Drugs Market Drivers:

Rise in prevalence of hyperlipidemia to augment market growth

One of the key factors expected to augment growth of the global antihyperlipidemic drugs market during the forecast period is the rise in prevalence of hyperlipidemia across the world. For instance, hyperlipidemia defines an elevated level of lipids, like cholesterol and triglycerides, in the blood, which in turn increases the risk of heart disease and stroke, the leading cause of death worldwide. According to the World Heart Federation, high cholesterol causes 5 Billion deaths each year across the globe. It is a major a risk factor for heart disease and stroke in low- and high- income countries. A healthy diet, regular exercise, and medication can help reduce high cholesterol.

Surge in sedentary lifestyle to underpin market growth

Another factor driving the growth of the global antihyperlipidemic drugs market is the increase in sedentary lifestyle. For instance, drinking a lot of alcohol, smoking, eating foods that have a lot of saturated or trans fats, and being overweight may increase the cholesterol level (hyperlipidemia). The Centers for Disease Control and Prevention (CDC) found that 25.3% of all American adults are physically inactive. Moreover, around 1 to 2 Billion deaths per year are attributed to physical inactivity, prompt World Health Organization (WHO) to issue a warning that a sedentary lifestyle could very well be among the leading causes of death and disability in the world.

Global Antihyperlipidemic Drugs Market Opportunities:

Increasing demand for antihyperlipidemic drugs across the globe is expected to provide significant growth opportunities for players in the antihyperlipidemic drugs market. For instance, with the rise in burden of hyperlipidemia and cardiovascular disease, the demand for antihyperlipidemic drugs is also increasing. They are also known as lipid-lowering agents; provide safe/effective treatment for hyperlipidemia (increase in lipid level in the blood). In December 2021, the U.S. Food & Drug Administration (FDA) approved Novartis’s Leqvio (inclisiran), the first and only small interfering RNA (siRNA) therapy to lower low-density lipoprotein cholesterol.

Growing geriatric population is expected to offer lucrative growth opportunities for players in the antihyperlipidemic drugs market. For instance, total and LDL (low-density lipoprotein) cholesterol levels increase with age, as does the incidence of cardiovascular disease. Aging can cause changes in the heart and blood vessels that may increase the risk of cardiovascular disease. People age 65 and older are more likely than younger people to suffer from cardiovascular disease. According to the WHO, by 2030, 1 in 6 people in the world will be aged 60 years or over, by 2050, the world’s population of people aged 60 years and older will double (2.1 billion).

Global Antihyperlipidemic Drugs Market Restraints:

High cost of treatment to hinder growth of the market

One of the key factors expected to hamper growth of the global antihyperlipidemic drugs market is the high cost of treatment. For instance, statins are a type of medication prescribed to treat high cholesterol by lowering cholesterol production in the liver. The average retail cost of statins used to treat moderate cases of high cholesterol is US$ 139.29 for generic medications and US$ 360.43 for brand-name statins. Without insurance and discount codes, statins can vary from about US$ 33 per month to US$ 600 per month. These drugs will probably cost more if a person needs a higher dosage, restraining the growth of the market.

Lack of awareness to hamper the growth of the market

Another factor which is hampering the growth of the antihyperlipidemic drugs market is the lack of awareness about the risk of hyperlipidemia and cardiovascular diseases. Hyperlipidemia is one of the important modifiable risk factors for cardiovascular diseases (CVDs), and increasing public awareness of CVD risks is an important step in reducing CVD burdens. Lack of awareness among people hampers the use or the adoption of antihyperlipidemic drugs. However, with the increasing awareness among people about the risk of hyperlipidemia and cardiovascular disease, the demand for antihyperlipidemic drugs is also increasing.