Fibrate Drugs Market Size Worth $5.04 Billion By 2032 | CAGR: 5.3%

The global fibrate drugs market size is expected to reach USD 5.04 billion by 2032, according to a new study by Polaris Market Research. The report “Fibrate Drugs Market Share, Size, Trends, Industry Analysis Report, By Drug (Clofibrate, Gemfibrozil, Fenofibrate, Others); By Product Type; By Form; By Distribution Channel; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Factors such as lack of physical exercise, lifestyle changes, and rising consumption of tobacco & alcohol are increasing the risks of cholesterol abnormalities among the adult population. For instance, according to the World Health Organization (WHO), in July 2023, tobacco kills more than 8 million people each year. This increases the risk of heart disease. Moreover, an increasing number of patients suffering from cardiovascular diseases such as coronary artery diseases, heart attacks, and peripheral artery diseases is driving the demand for fibrate drugs.

Dyslipidemia leading to the imbalance of lipids such as triglycerides, low-density lipoprotein (LDL) cholesterol, and high-density lipoprotein (HDL) cholesterol will increase the need for fibrate drugs over the forecast period. For instance, in September 2022, 6 in 10 Indians have abnormal levels of cholesterol. Such abnormalities associated with the levels of cholesterol will increase the demand for fibrate drugs over the forecast period.

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The link between diabetes and changes in the amount of lipids such as LDL, HDL, and triglycerides in the body is contributing to the market growth. Thus, with the increasing number of patients who have diabetes, the demand for fibrate drugs will also augment over the forecast timeframe. For instance, according to the International Diabetes Federation (IDF), in India, adults who have diabetes were 774.2 Mn in 2021, with a prevalence rate of 8.3%. Furthermore, the constant focus of the market players on the development and launch of new and effective treatment options for cholesterol abnormalities will drive the growth of the fibrate drugs market in the upcoming years.

Fibrate Drugs Market Report Highlights

• The fenofibrate segment is expected to witness significant growth, owing to the high efficacy of the drug in reducing triglyceride levels and LDL cholesterol.
• The branded segment dominated the market, owing to the strong patent portfolio owned by various companies in the market.
• The tablets segment accounted for the largest market share, owing to its longer shelf life and ability to accommodate higher active ingredient doses.
• Hospital & retail pharmacy segment held the largest market share, owing to the increasing number of hospital admissions.
• North America dominated the market, owing to the high burden of coronary heart disease and rising incidence of cholesterol abnormalities.
• The market players include Viatris Inc., Aurobindo Pharma, Lupin Pharmaceuticals, Inc., AbbVie Inc., Sun Pharmaceutical Industries Ltd., ANI Pharmaceuticals, Inc.

Polaris Market Research has segmented the fibrate drugs market report based on drug, product type, form, distribution channel, and region:

Fibrate Drugs, Drug Outlook (Revenue - USD Billion, 2019 - 2032)

• Clofibrate
• Gemfibrozil
• Fenofibrate
• Others

Fibrate Drugs, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Branded
• Generic

Fibrate Drugs, Form Outlook (Revenue - USD Billion, 2019 - 2032)

• Capsule
• Tablet

Fibrate Drugs, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

• Hospital & Retail Pharmacy
• Online Pharmacy

Fibrate Drugs, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Fibrate Drugs Market Report Scope