DUBLIN--(BUSINESS WIRE)--The "Fibrate Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The fibrate drugs market is projected to experience a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period, according to a new report by ResearchAndMarkets.com.
The sudden outbreak of COVID-19 had a notable impact on the fibrate drug market during the pandemic period, as the infection increased the risk of developing cardiovascular diseases, driving the demand for fibrate drugs to treat them.
The rise in the prevalence and increased incidence rate of cardiovascular diseases worldwide is expected to drive the growth of the fibrate drugs market. In 2021, coronary (ischemic) heart disease, peripheral arterial (vascular) disease, stroke, and atrial fibrillation were the most common heart conditions affecting the global population.
The high incidence of cardiovascular diseases globally is anticipated to fuel the demand for fibrate drugs, contributing to market growth.
The market is also witnessing the launch of various effective fibrate drugs by key market players. For instance, in November 2021, Drug Firm Lupin launched generic fenofibrate capsules in the United States, used to treat high cholesterol and triglyceride levels in the blood.
However, the market growth may face hindrances due to frequent product recalls/discontinuation and stringent regulatory frameworks.
Fibrate Drugs Market Trends
The fenofibrate segment is expected to hold a major market share over the forecast period due to the rising prevalence of cardiovascular diseases and the high efficacy of fenofibrate drugs. Research studies have demonstrated that fenofibrate triggers elevated cholesterol and apolipoprotein levels, resulting in a reduction of cardiovascular disease events and risk.
North America is expected to hold a significant market share in the global fibrate drugs market due to the high prevalence of the cardiovascular population and a rapidly aging population. The presence of key market players and increasing product developments in North American countries are also contributing factors to market growth.
Fibrate Drugs Industry Overview
The fibrate drugs market is fragmented and competitive, with several major players dominating the market. MacleodsPharmaceuticals Ltd, Sun Pharmaceutical Industries Ltd, Aurobindo Pharma USA, Sanofi, Zydus Cadila, Lupin, Abbott, Unnati Pharmaceuticals Ltd, Mylan Inc., Cipla Inc., and Socosurchem are some of the companies currently leading the market.
A selection of companies mentioned in this report includes
- Macleods Pharmaceuticals Ltd
- Sun Pharmaceutical Industries Ltd
- Mylan Inc.
- Aurobindo Pharma USA
- Sanofi
- Zydus Cadila
- Lupin
- Abbott
- Unnati Pharmaceuticals Pvt Ltd
- Cipla Inc.
- Socosur Chem
- IOL Chemicals and Pharmaceuticals
For more information about this report visit https://www.researchandmarkets.com/r/vrc60k
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
