Albany, NY -- (SBWIRE) -- 05/09/2019 -- The global dyslipidemia market is anticipated to witness a decline of -10.3%. CAGR between 2015 and 2023. The negative growth rate is a result of the expiration of blockbuster drugs that have allowed the introduction of several generic drugs, available at cheaper prices than branded drugs. Owing to this reason, the global market is expected to reach a valuation of US$6.88 bn by 2023 as compared to US$17.85 bn in 2014. However, the market also has several opportunities to gain from and reach a positive growth rate in the near future. For instance, the high prevalence of obesity due to poor dietary habits, lack of exercise, and changing lifestyles are expected to present a wide range growth opportunities for the overall market in the near future.
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Diabetes and Obesity Give a New Lease of Life to Dyslipidemia Drugs Market
The rising cases of diabetes, especially the growing number of type 2 diabetics, have presented the global dyslipidemia market with a lucrative opportunity. Research indicates that diabetics are likely to suffer from lipid abnormalities that will lead to a higher uptake of dyslipidemia drugs in the near future. In a bid to solve the health issues of an exponentially growing patient pool, several companies are investing in intensive research and development in strengthening their pipelines and discovering newer treatment options. Furthermore, commercialization of new classes of drugs will also provide this market a push in the upward direction.
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Fibric Acid and Omega-3 Fatty Acid Derivatives Segment Leads Overall Market
Amongst the various type of drug classes, the fibric acid and omega-3 fatty acid derivatives segment will witness the least decline at a -1.6% CAGR between 2015 and 2023. A growing number of prescriptions for drugs such as Epanova, Vascespa, and Lovaza will be the primary reason why this segment will be able to mitigate its loss. The government approvals for fibric acid and omega-3 fatty acid derivatives class of drugs have also bolstered the demand for dyslipidemia drugs in recent years. The report suggests that Fenofibrate drugs are the popularly prescribed fibric acid and omega-3 fatty acid derived drugs to patients with dyslipidemia.
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However, the future of this segment is on unsteady ground as these major drugs are expected to lose their patents. For instance, fenofibrate-containing drugs such as Trilipix, Antara, Tricor, and others will gradually lose importance to generic drugs.
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