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Fibrate Drugs Market - By Drug Type (Clofibrate, Gemfibrozil, Fenofibrate), By Product Type (Branded, Generic), By Indication (Hypercholesterolemia, Heart attacks), By Route of Administration, By Distribution Channel, By End-use & Forecast 2024 – 2032

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

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

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.
 

Fibrate Drugs Market Trends

High investment in research and development (R&D) within the fibrate drugs industry signifies a commitment to advancing therapeutic options for managing lipid disorders and reducing cardiovascular risk. This investment drives innovation, leading to the development of novel fibrate formulations with improved efficacy and safety profiles.
 

  • Pharmaceutical companies allocate substantial resources to R&D activities, conducting extensive preclinical and clinical trials to ensure the effectiveness and regulatory compliance of new medications.
     
  • Further, R&D investment leads to advancements in fibrate drug therapies, resulting in improved treatment outcomes for patients with lipid, which estimated to reach 23.8 billion by 2032, disorders such as hypertriglyceridemia and mixed dyslipidemia.
     
  • Moreover, by leveraging cutting-edge technologies and scientific insights, R&D efforts aim to address unmet medical needs, expand treatment options, and enhance patient outcomes in the ongoing battle against cardiovascular diseases.
     
  • Thus, such aforementioned factors are projected to boost the growth of the market.
     

Fibrate Drugs Market Analysis

Fibrate Drugs Market, By Drug Type, 2021 – 2032 (USD Billion)

Based on drug type, the market is segmented into clofibrate, gemfibrozil, fenofibrate, and other drug types. The clofibrate segment is estimated to account for USD 2.1 billion by 2032.
 

  • Clofibrate plays a vital role in the management of lipid disorders and reducing the risk of cardiovascular events. As a fibrate medication, clofibrate works by activating peroxisome proliferator-activated receptors (PPARs), specifically PPAR-alpha, which regulates lipid metabolism in the body.
     
  • Further, clofibrate effectively lowers triglyceride levels and increases high-density lipoprotein (HDL) cholesterol, improving overall lipid profiles. This action is crucial in treating conditions such as hypertriglyceridemia and mixed dyslipidemia, which are significant risk factors for cardiovascular diseases like heart attacks and strokes.
     
  • Moreover, clofibrate serves as an important therapeutic option, often used in conjunction with lifestyle modifications and other lipid-lowering medications, to help patients achieve optimal lipid control and reduce their cardiovascular risk, thereby propelling the segmental growth.
     
Fibrate Drugs Market, By Product Type (2023)

Based on product type, the global market is segmented into branded and generic. The branded segment accounted for USD 2 billion in 2023.
 

  • Branded fibrate drugs often come with patented formulations, which may offer unique features such as improved efficacy, better bioavailability, or extended-release mechanisms.
     
  • Furthermore, they capitalize on the established brand recognition and trust developed over time through marketing initiatives, clinical studies, and endorsements from healthcare professionals.
     
  • Additionally, pharmaceutical companies invest significantly in the research and development of branded generic fibrate drugs, leading to innovations in novel drug delivery systems, dosage forms, and therapeutic approaches, thereby augmenting the segmental growth of the market.
     

Based on indication, the market is segmented into hypercholesterolemia, heart attacks, hypertriglyceridemia, and other indications. The hypercholesterolemia segment is estimated to account for USD 2 billion revenue size by 2032.
 

  • Hypercholesterolemia is a condition characterized by elevated levels of cholesterol in the blood. Fibrates, a class of medications used to manage lipid disorders, offer effective treatment options for individuals with hypercholesterolemia by targeting multiple aspects of lipid metabolism.
     
  • They work by activating peroxisome proliferator-activated receptors (PPARs), particularly PPAR-alpha, which regulate lipid synthesis and metabolism.
     
  • Moreover, fibrates help lower triglyceride levels and increase high-density lipoprotein (HDL) cholesterol, thereby improving overall lipid profiles and reducing the risk of cardiovascular events such as heart attacks and strokes. Thus, all these factors are escalating the segmental growth.
     

Based on route of administration, the market is segmented into oral and injectable. The oral segment accounted for USD 2.2 billion in 2023.
 

  • The oral route of administration plays a vital role in delivering medications to patients with lipid disorders such as hypertriglyceridemia and mixed dyslipidemia.
     
  • Further, it is convenient for patients, as it does not require specialized medical training or equipment. Patients can take their medication at home without the need for injections or visits to healthcare facilities, promoting treatment adherence.
     
  • Moreover, oral fibrate drugs are crucial for effectively managing lipid disorders and reducing cardiovascular risk, as they are formulated to ensure optimal absorption and bioavailability, enabling their lipid-lowering effects. Thus, these factors collectively contribute to the growth of this segment.
     

Based on distribution channel, the fibrate drugs market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy held the market size of 1.2 billion in 2023.
 

  • Hospital pharmacies play a vital role in overseeing the management of fibrate drugs within the hospital setting. They provide essential support by ensuring the safe procurement, storage, dispensing, and administration of fibrate medications to patients.
     
  • This includes maintaining formularies, offering clinical expertise, conducting quality assurance measures, providing patient education, facilitating interdisciplinary collaboration, and offering emergency care capabilities when needed.
     
  • Further, hospital pharmacies serve as integral components of healthcare teams, ensuring the effective utilization of fibrate drugs for patients with lipid disorders and cardiovascular risk factors during their hospital stay.
     

Based on end-use, the fibrate drugs industry is segmented into hospitals, homecare settings, specialty clinics, and other end-users. The hospitals segment estimated to account for USD 2.2 billion revenue size by 2032.
 

  • Hospitals provide comprehensive care to patients, including medication management. Healthcare teams collaborate to assess patient’s lipid profiles, develop individualized treatment plans, and monitor their response to fibrate drugs to optimize therapeutic outcomes.
     
  • Further, hospitals employ healthcare professionals with specialized training and expertise in managing lipid disorders, including the appropriate use of fibrate drugs. This expertise ensures accurate diagnosis, proper prescription, and effective monitoring of patients receiving fibrate therapy.
     
  • Moreover, hospitals adhere to stringent quality assurance standards to ensure the safety, efficacy, and proper storage of medications, including fibrate drugs, thereby contributing to the growth of the market.
     
North America Fibrate Drugs Market, 2020 – 2032 (USD Billion)

In 2023, North America held a significant revenue size of 1.2 billion in the global fibrate drugs market and is predicted to witness substantial CAGR over the analysis timeline.
 

  • The region has robust investment in drug research and development, catering to the needs of its elderly population. Furthermore, the growing awareness and implementation of screening programs within the region complement this landscape, fostering early detection and management of conditions.
     
  • The rising mortality rates associated with cardiovascular diseases will contribute to an increased utilization of fibrate medications. According to historical data from 2021 provided by the Centers for Disease Control and Prevention (CDC), approximately 695,000 individuals in the U.S. succumbed to heart disease.
     
  • Additionally, North America boasts a sophisticated healthcare infrastructure, including well-equipped hospitals, research institutions, and a highly skilled workforce. This facilitates efficient distribution, prescription, and monitoring of fibrate drugs.
     
  • Thus, such aforementioned factors are projected to increase the growth of the market.
     

Fibrate Drugs Market Share

The fibrate drugs industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced devices based on different technologies is among a key market strategy. Some of the leading industry players have a notable presence in the market.
 

Fibrate Drugs Market Companies

Some of the eminent market participants operating in the fibrate drugs industry include:

  • Aurobindo Pharma Limited    
  • Abbott Laboratories        
  • Cipla Inc.        
  • IOL Chemicals and Pharmaceuticals     Limited    
  • Lupin Limited
  • Mylan N.V.        
  • Pfizer Inc.        
  • Sanofi        
  • Sun Pharmaceutical Industries Ltd.        
  • Unnati Pharmaceuticals Pvt Ltd.        
  • Zydus Lifeciences Limited
     

Fibrate Drugs Industry News:

  • In September 2021, Aurobindo Pharma Limited received FDA approval for its Fenofibrate capsules USP in strengths of 67 mg, 134 mg, and 200 mg, serving as generic equivalents to AbbVie Inc.'s Tricor Capsules. This approval enabled the company to introduce cost-effective alternatives to the market, enhancing its competitive position in the lipid-lowering drug segment.
     
  • In November 2021, Lupin launched generic fenofibrate capsules, utilized for treating elevated cholesterol and triglyceride levels in the bloodstream, in the U.S. The company introduced the generic version in dosages of 30 mg and 90 mg. This move benefited the company by expanding its product portfolio, offering cost-effective alternatives to consumers.
     

The fibrate drugs market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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Market, By Drug Type

  • Clofibrate
  • Gemfibrozil
  • Fenofibrate
  • Other drug types

Market, By Product Type

  • Branded
  • Generic

Market, By Indication

  • Hypercholesterolemia        
  • Heart attacks
  • Hypertriglyceridemia
  • Other indications

Market, By Route of Administration

  • Oral
  • Injectable

Market, By Distribution Channel

  • Hospital pharmacy
  • Retail pharmacy
  • Online pharmacy

Market, By End-Use

  • Hospitals
  • Home care settings
  • Specialty clinics
  • Other end-users

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • UAE
    • Rest of Middle East and Africa

 

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.

Fibrate Drugs Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 11
  • Tables & Figures: 374
  • Countries covered: 22
  • Pages: 210
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