Fibrate Drugs Market Size, Share and Trends Analysis Report Forecast 2024-2031
Fibrate Drugs Market Size, Share and Trends Analysis Report Forecast 2024-2031
Blog Article
The global fibrate drugs market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Fibrate drugs are the therapeutics that belong to the class of amphipathic carboxylic acids that lower triglyceride levels in the blood by inhibiting hepatic extraction of free fatty acids which results in increased activity of the endothelial lipoprotein lipase. The major factors that are driving the growth of the fibrate drugs market include the increased rate of cardiovascular diseases across the globe. Additionally, the overweight or obese population in developed countries and sedentary lifestyles leads to cardiovascular disorders which are some other key factors for the growth of the market. Various clinical trials have demonstrated that fenofibrate triggers elevated levels of cholesterol and apolipoprotein. According to the study published by the National Institute of Health, in 2020, adults aged 65 and older are more likely than younger people to suffer from CVD.
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Some of the major players in the market include copyright Inc, Mylan NV, Sanofi SA, Aurobindo Pharma, and Abbott Laboratories. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in November 2021, Lupin launched generic Fenofibrate capsules, which is used for the treatment of high cholesterol and triglyceride levels in the blood in the US. It works by increasing the natural substances (enzymes) that break down fats in the blood. The company launched the generic version in the strength of 30 mg and 90 mg in the US. Additionally, in April 2020, Dr. Reddy’s Laboratories Ltd announced the launch of fenofibrate tablets in the US.
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Further, in September 2021 Aurobindo Pharma Ltd. has received final approval from US Food and drug administration for its abbreviated new drug application Fenofibrate capsules USP 67mg,134, mg and 200 mg. These capsules are an AB-rated generic equivalent to the reference listed drug, Tricor Capsules of AbbVie Inc.
Competitive Landscape- copyright Inc, Mylan NV, Sanofi SA, Aurobindo Pharma, and Abbott Laboratories.
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
Global Fibrate Drugs Market Report by Segment
By Drug Type
Clofibrate
Gemfibrozil
Fenofibrate
Others
By Product Type
Branded
Generics
By Distribution Channel
Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
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