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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.
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.
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.
Why is the demand for clofibrate drug expanding?
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.
What factors are pushing the growth of North America fibrate drugs market?
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.
Which companies define the competitive landscape of global fibrate drugs industry?
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.
How big is the global fibrate drugs market?
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.