The global fibrate drugs market size was estimated to be USD 2.95 billion in 2023 and is expected to reach USD 5.14 billion by 2034 with a CAGR of 5.16% during the forecast period 2024-2034. The rising burden of cardiovascular diseases, increasing awareness of the benefits of fibrates, development of new and improved fibrates, government initiatives for cardiovascular health, and strategic collaborations and partnerships will drive market growth.
Since fibrate medications are frequently given to treat cardiovascular disorders including hyperlipidemia and atherosclerosis, their increasing prevalence may be the primary driver of the market for fibrate pharmaceuticals. The demand for fibrate medications may rise as a result of government health programs designed to lessen the burden of cardiovascular illnesses by raising awareness of and treating problems like dyslipidemia. For instance, AbbVie Inc. reported encouraging Phase 3 findings in October 2023 for their experimental fibrate medication, which included a reduction in triglycerides and an increase in HDL cholesterol.
By drug type, the fenofibrate segment accounted for the highest revenue-grossing segment in the global fibrate drugs market in 2023 owing to the compound's well-established efficacy in lowering triglycerides and increasing high-density lipoprotein (HDL) cholesterol levels, coupled with its widespread prescription for the management of dyslipidemia and cardiovascular risk factors. For instance, AstraZeneca PLC launched a new awareness campaign in September 2023 to inform patients and healthcare providers about the advantages of fibrates in the management of mixed dyslipidemia. Additionally, the fenofibric acid derivatives segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing recognition of these derivatives for their enhanced bioavailability and improved pharmacokinetic profiles compared to traditional fenofibrate formulations.
By product type, the generics segment accounted for the highest revenue-grossing segment in the global fibrate drugs market in 2023 owing to the expiration of key patents for several branded fibrate medications, leading to an influx of cost-effective generic alternatives into the market. For instance, Mylan N.V. received FDA clearance in December 2023 for its new generic fenofibrate extended-release tablets, providing patients with an affordable option. Additionally, the branded fibrates segment is predicted to grow at the fastest CAGR during the forecast period owing to the continuous innovation and introduction of novel formulations by pharmaceutical companies, aimed at addressing specific patient needs and improving treatment outcomes.
By distribution channel, the retail pharmacies segment accounted for the highest revenue-grossing segment in the global fibrate drugs market in 2023 owing to the widespread accessibility and convenience offered to patients for obtaining prescription medications. For instance, Teva Pharmaceutical Industries Ltd. introduced a new combination medication including fenofibrate and ezetimibe in July 2023 to treat patients with excessive triglycerides and cholesterol, broadening its selection of generic fibrates. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing trend of digital healthcare adoption, the convenience of online prescription orders, and the expanding e-commerce landscape.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, high prevalence of cardiovascular diseases, and the widespread adoption of fibrate drugs in the management of lipid disorders. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of cardiovascular diseases, a rising geriatric population, and the ongoing efforts to improve healthcare infrastructure. For instance, Novartis AG completed the acquisition of a smaller pharmaceutical business in May 2023 that had a strong pipeline of candidates for next-generation fibrates.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Since fibrate medications are frequently given to treat cardiovascular disorders including hyperlipidemia and atherosclerosis, their increasing prevalence may be the primary driver of the market for fibrate pharmaceuticals. The demand for fibrate medications may rise as a result of government health programs designed to lessen the burden of cardiovascular illnesses by raising awareness of and treating problems like dyslipidemia. For instance, AbbVie Inc. reported encouraging Phase 3 findings in October 2023 for their experimental fibrate medication, which included a reduction in triglycerides and an increase in HDL cholesterol.
By drug type, the fenofibrate segment accounted for the highest revenue-grossing segment in the global fibrate drugs market in 2023 owing to the compound's well-established efficacy in lowering triglycerides and increasing high-density lipoprotein (HDL) cholesterol levels, coupled with its widespread prescription for the management of dyslipidemia and cardiovascular risk factors. For instance, AstraZeneca PLC launched a new awareness campaign in September 2023 to inform patients and healthcare providers about the advantages of fibrates in the management of mixed dyslipidemia. Additionally, the fenofibric acid derivatives segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing recognition of these derivatives for their enhanced bioavailability and improved pharmacokinetic profiles compared to traditional fenofibrate formulations.
By product type, the generics segment accounted for the highest revenue-grossing segment in the global fibrate drugs market in 2023 owing to the expiration of key patents for several branded fibrate medications, leading to an influx of cost-effective generic alternatives into the market. For instance, Mylan N.V. received FDA clearance in December 2023 for its new generic fenofibrate extended-release tablets, providing patients with an affordable option. Additionally, the branded fibrates segment is predicted to grow at the fastest CAGR during the forecast period owing to the continuous innovation and introduction of novel formulations by pharmaceutical companies, aimed at addressing specific patient needs and improving treatment outcomes.
By distribution channel, the retail pharmacies segment accounted for the highest revenue-grossing segment in the global fibrate drugs market in 2023 owing to the widespread accessibility and convenience offered to patients for obtaining prescription medications. For instance, Teva Pharmaceutical Industries Ltd. introduced a new combination medication including fenofibrate and ezetimibe in July 2023 to treat patients with excessive triglycerides and cholesterol, broadening its selection of generic fibrates. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing trend of digital healthcare adoption, the convenience of online prescription orders, and the expanding e-commerce landscape.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, high prevalence of cardiovascular diseases, and the widespread adoption of fibrate drugs in the management of lipid disorders. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of cardiovascular diseases, a rising geriatric population, and the ongoing efforts to improve healthcare infrastructure. For instance, Novartis AG completed the acquisition of a smaller pharmaceutical business in May 2023 that had a strong pipeline of candidates for next-generation fibrates.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Drug Type, Product Type, and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Fibrate Drugs Market Report 2023 - 2034
Fibrate Drugs Market Analysis & Forecast by Drug Type 2023 - 2034 (Revenue USD Bn)
- Clofibrate
- Gemfibrozil
- Fenofibrate
- Others
Fibrate Drugs Market Analysis & Forecast by Product Type 2023 - 2034 (Revenue USD Bn)
- Branded
- Generics
Fibrate Drugs Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Fibrate Drugs Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Fibrate Drugs Market: Drug Type Estimates & Trend Analysis
8. Fibrate Drugs Market: Product Type Estimates & Trend Analysis
9. Fibrate Drugs Market: Distribution Channel Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Fibrate Drugs Market
12. Europe Global Fibrate Drugs Market
13. Asia Pacific Global Fibrate Drugs Market
14. Latin America Global Fibrate Drugs Market
15. MEA Global Fibrate Drugs Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Pfizer Inc.
- AbbVie Inc.
- AstraZeneca PLC
- Mylan N.V.
- Teva Pharmaceutical Industries Ltd.
- Novartis AG
- Sanofi S.A.
- GlaxoSmithKline plc
- Sun Pharmaceutical Industries Ltd.
- F. Hoffmann-La Roche Ltd.
- Bristol Myers Squibb Company
- Merck & Co. Inc.
- Abbott Laboratories
- Daiichi Sankyo Company
- Limited
- Lupin Limited.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 2.95 Billion |
| Forecasted Market Value ( USD | $ 5.14 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
