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Fibrate Drugs Market Size

Report ID: GMI8450
Published Date: Mar 2024
Report Format: PDF

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Fibrate Drugs Market Size

Fibrate Drugs Market was valued at around USD 3.1 billion in 2023 and is estimated to register a CAGR of over 5.2% between 2024 & 2032. Fibrate drugs are a class of medications primarily used to treat lipid disorders, particularly hypertriglyceridemia and mixed dyslipidemia. They work by activating peroxisome proliferator-activated receptors (PPARs), specifically PPAR-alpha, which regulate lipid metabolism in the body. These medications help to lower triglyceride levels and increase high-density lipoprotein (HDL) cholesterol levels, in which fibrates help to reduce the risk of cardiovascular events such as heart attacks and strokes. The increasing prevalence of cardiovascular disease has emerged as a significant driver for the market.

Fibrate Drugs Market

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For instance, according to the World Heart Federation (WHF) in 2021 an estimated 20.5 million people lost their lives due to cardiovascular diseases (CVDs). Therefore, fibrate drugs offer a variety of therapeutic benefits in the context of CVDs, addressing key aspects of lipid disorders such as hypertriglyceridemia and mixed dyslipidemia.

Fibrate Drugs Market Report Attributes
Report Attribute	Details
Base Year:	2023
Fibrate Drugs Market Size in 2023:	USD 3.1 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5.2%
2032 Value Projection:	USD 4.8 Billion
Historical Data for:	2019 to 2023
No. of Pages:	210
Tables, Charts & Figures:	374
Segments covered:	Drug Type, Product Type, Indication, Route of Administration, Distribution Channel, End-use, and Region
Growth Drivers:	Increasing prevalence of cardiovascular diseases High investment in the research and development of drugs Increase in elderly population Growing awareness and screening programs
Pitfalls & Challenges:	Frequent product recalls/discontinuation Stringent regulatory framework

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Furthermore, the increase in the elderly population, coupled with high investment in research and development of drugs, alongside growing awareness and screening programs which stimulates the demand for market.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global market for fibrate drugs was valued at around USD 3.1 billion in 2023 and is estimated to reach over USD 4.8 billion by 2032, driven by the increasing prevalence of cardiovascular disease.

Clofibrate segment generated a decent revenue in 2023 and is estimated to account for USD 2.1 billion by 2032 as they help in the management of lipid disorders and reducing the risk of cardiovascular events.

North America market was worth USD 1.2 billion in 2023 and is predicted to witness substantial growth through 2032, driven by a robust investment in drug R&D, catering to the needs of elderly population.

Aurobindo Pharma Limited, Abbott Laboratories, Cipla Inc., IOL Chemicals and Pharmaceuticals Limited, Lupin Limited, Mylan N.V., Pfizer Inc., Sanofi, Sun Pharmaceutical Industries Ltd. are some of the major industry contenders.