Fibrate Drugs Market is anticipated to grow at a significant CAGR during the forecast period. 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.
Some of the major players in the market include Pfizer 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.
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.
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Market Coverage
- The market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
Segment Covered-
- By Drug Type
- By Product Type
- By Distribution
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Pfizer Inc, Mylan NV, Sanofi SA, Aurobindo Pharma, and Abbott Laboratories.
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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Fibrate Drugs Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
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