The Global Cholesterol-Lowering Biologic Drugs Market size is expected to grow from USD 2.0 billion in 2021 to USD 3.7 billion by 2028, at a CAGR of 7.2% during the forecast period (2021-2028). The growing geriatric population coupled with increasing awareness among individuals about the benefits of pharmacological management and its superiority over other modes of therapy are some factors that will drive growth in the coming years. On the other hand, limitations such as the high cost of treatment and lack of adequate reimbursement policies restrict the growth potential for these drugs globally.
Cholesterol-Lowering Biologic Drugs is a medication that helps to reduce blood cholesterol levels. Cholesterol-Lowering Biologics are used in the treatment of high cholesterol and other conditions which contribute to increased risk or progression of atherosclerosis, such as Diabetes Mellitus Type II, Familial Hypercholesterolemia (FH), or Heart Attack predisposed condition for a patient who cannot tolerate Statins due to side effects.
On the basis of Type, the market is segmented into Oral Administration and Injectable Drugs.
Oral Administration means the method of taking a medication that is in pill form by mouth. The use of this type of administration can be either swallowing the medication with water or using it to coat an area on your tongue, for example, if you need to dissolve a tablet before it enters your stomach. Oral tablets are most often used when someone needs their blood sugar levels checked and oral liquid medications may also be prescribed.
Injectable drugs are a type of medication that enters the body through injection. Injections can be given intravenously, intramuscularly, or subcutaneously. Painless and simple to administer, injections offer precise dosing with few side effects. The main advantages of injectables include convenience for patients who do not wish to take oral medications because they cannot swallow them as well as ease and speed in which a patient may receive treatment during an emergency situation where it is difficult to give someone medicine orally. Examples of some common types of injectable medications are insulin shots, antibiotics administered via IVs to fight infection more quickly in hospital settings, and vaccines delivered by immunization nurses at doctors' offices or schools.
On the basis of Application, the market is segmented into Hospital Pharmacies, Retail Pharmacies, Drug Stores and Online. The segment of Retail Pharmacy accounted for the largest share in 2018 due to the high adoption rate of pharmacy services by consumers globally.
The usage of cholesterol-lowering biologic drugs in drug stores is relatively low due to the high cost. However, manufacturers are trying hard to make them affordable for different segments of society and increase their use in retail pharmacies. For instance, a 50mg tablet from Biogen's Tecfidera costs about $600 USD (or Rs 32000 INR).
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Europe is anticipated to grow at a fast pace owing to the rising prevalence of cardiovascular diseases and increasing demand for cholesterol-lowering biologics drugs. The Asia Pacific, on the other hand, is projected to exhibit a high growth rate by 2028 as developing economies are expected to emerge with increased economic activities leading towards higher consumption of pharmaceutical products.
The Middle East & Africa region is also estimated to experience rapid growth during the forecast period due to North African countries such as Egypt which have seen an increase in population aged more than 65 years from 2010-2015 coupled with an aging population.
The global cholesterol-lowering biologic drugs market is expected to show a significant growth rate during the forecast period. In recent years, there has been an increased awareness about cardiovascular disease and its risk factors such as high blood pressure and diabetes which will boost the demand for the cholesterol-lowering biologic drug in various markets across the globe. Another factor driving this market is rising incidences of lifestyle diseases including obesity, heart disease, stroke, etc., due to unhealthy habits like smoking or excessive intake of alcohol which has pushed up the need for these treatments.
Up Market Research published a new report titled “Cholesterol Lowering Biologic Drugs Market research report which is segmented by Types (For Oral Administration, Injectable Drugs), By Applications (Hospital Pharmacies, Retail Pharmacies, Drug Stores, Online Sales), By Players/Companies Amgen, Regeneron Pharmaceuticals, Alnylam Pharmaceuticals”.
|Report Attributes||Report Details|
|Report Title||Cholesterol Lowering Biologic Drugs Market Research Report|
|By Type||For Oral Administration, Injectable Drugs|
|By Application||Hospital Pharmacies, Retail Pharmacies, Drug Stores, Online Sales|
|By Companies||Amgen, Regeneron Pharmaceuticals, Alnylam Pharmaceuticals|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||231|
|Number of Tables & Figures||162|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type For Oral Administration, Injectable Drugs and By Application Hospital Pharmacies, Retail Pharmacies, Drug Stores, Online Sales.
Some of the companies that are profiled in this report are:
Cholesterol Lowering Biologic Drugs Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Cholesterol Lowering Biologic Drugs Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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