Fibrate Drugs Market Size, Share & Trends Analysis Report By Product Type (Branded And Generic), Drug Type (Clofibrate, Gemfibrozil, Fenofibrate), And Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030

Fibrate Drugs Market Size & Trends

The global fibrate drugs market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.1% from 2023 to 2030. The global increase in the prevalence and incidence rate of cardiovascular disorders is anticipated to fuel the market for fibrate drugs. According to information provided by the British Heart Foundation (BHF) in January 2022, the most prevalent heart conditions worldwide in 2021 were atrial fibrillation (60 million cases), peripheral arterial (vascular) disease (110 million cases), stroke (100 million cases), and coronary (ischemic) heart disease (200 million cases).

DNA must be constantly synthesized and repaired by cancer cells, contributing to the spread and growth of cancer throughout the body. Therefore, the use of global fibrate drugs is crucial for cancer patients to inhibit the creation and repair of DNA in their cells. The adoption of global fibrate drugs is primarily driven by the increasing incidence of cancer, including breast cancer, lung cancer, and other types, as well as the growing need for research and development (R&D) for cancer treatment. For instance, the World Health Organization estimates that cancer was one of the leading causes of death worldwide in 2022, accounting for 9.6 million fatalities. Additionally, 627,000 women died from breast cancer globally, constituting approximately 15% of all female cancer mortality.

Fenofibrate has been shown in numerous studies to cause higher levels of apolipoprotein and cholesterol. For example, according to the United States Cardiody Review research published in May 2021, fenofibrate significantly reduced cardiovascular disease events in individuals with low HDL cholesterol or hypertension. It also lowered the risk of cardiovascular disease by 27%. The study highlighted that fenofibrate decreases fibrinogen and serum uric acid levels while reducing plasma levels of lipoproteins by 7% to 23%. Due to its safety and effectiveness, fenofibrate is in high demand, driven by the increasing prevalence of cardiovascular disorders, which is expected to fuel the market's growth in this segment.

Product Type Insights

Based on the product type, the global fibrate drugs market is segmented into branded and geriatric. The branded segment held the largest market share in 2023. The rising prevalence of hyperlipidemia and related cardiovascular diseases increases the demand for effective lipid-lowering medications like fibrates is expected to rise.

Drug Type Insights

Based on drug type the market is segmented into clofibrate, gemfibrozil, fenofibrate, and other drugs. The clofibrate segment dominated the market in 2023 and is anticipated to retain its dominance during the forecast period. The clofibrate has largely fallen out of favor due to safety concerns, especially its association with increased cancer risk. Therefore, its resurgence in the global fibrate drugs market would require substantial scientific evidence, regularity support, and a compelling clinical need.

Distribution Channel Insights

Based on distribution channels, the global fibrate drugs market is segmented into hospital and retail pharmacy, and online pharmacy. A higher number of patients with cardiovascular and lipid-related conditions may lead to increased hospital admissions driving the demand for fibrate drugs in hospital settings. Also, hospitals may collaborate with pharmaceutical companies to ensure a steady supply of fibrate drugs and access to clinical trials or special formulations.

Regional Insights

North America dominated the largest market share in 2023. The growing aging population and the high prevalence of cardiovascular disease in North America. The market in this area is anticipated to increase because of the rising major market players' presence and the rising number of product developments in North American nations. For instance, the 2022 Heart Disease and Stroke Statistics Update Fact Sheet estimates that a myocardial infarction will occur in the United States almost every 40 seconds.

Competitive Insights

Key players operating in the market are Macleods Pharmaceuticals Ltd, Sun Pharmaceutical Industries Ltd, Mylan Inc., Aurobindo Pharma USA, Sanofi, Zydus Cadila, Lupin, Abbott, Unnati Pharmaceuticals Pvt Ltd, Cipla Inc., Socosur Chem, IOL Chemicals and Pharmaceuticals. The market participants are constantly working towards new product development, M&A activities, and other strategic alliances to gain new market avenues. The following are some instances of such initiatives:

• In December 2022, Esperion announced that the groundbreaking cholesterol lowering via fibrate medications, NEXLETOL Bempedoic acid, and an ACL-inhibiting Regimen outcomes experiment has been approved as a late-breaking clinical trial at ACC.23/WCC.

• In October 2022, United Therapeutics Corporation announced the EXPEDITE study of Remodulin induction prior to Orenitram therapy's top line. Teprostinil exposure is increased when orenitram and the CYP2C8 enzyme inhibitor gemfibrozil are taken together.