The Omega 3 Prescription Drugs Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Omega 3 Prescription Drugs Global Market Report 2024, The omega 3 prescription drugs market size has grown strongly in recent years. It will grow from $1.49 billion in 2023 to $1.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to health awareness, clinical research, cardiovascular health emphasis, medical recommendations, chronic diseases management.
The omega 3 prescription drugs market size is expected to see strong growth in the next few years. It will grow to $2.37 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to expanded indications, evolving consumer preferences, targeted health solutions, personalized medicine, clinical evidence expansion. Major trends in the forecast period include personalized health solutions, expanded health conditions, innovative formulations, health supplement popularity, health apps and wearables.
Rising cases of cardiovascular diseases (CVDs) are expected to contribute to the growth of the omega-3 prescription drug market. Increased blood triglyceride levels (a fatty-like substance) are linked to a higher risk of cardiovascular disorders, and omega-3 supplements aid in regulating and lowering triglyceride levels. For instance, according to the 2021 World Health Organization (WHO) report, an estimated 17.9 million people died from CVDs, accounting for 32% of global deaths. The causes of 85% of these fatalities were heart attacks and strokes. Therefore, rising cases of cardiovascular diseases (CVDs) drive the growth of the omega-3 prescription drug market.
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The Omega 3 prescription drugs market covered in this report is segmented –
1) By Drug Type: Vascepa, Lovaza, Other Type
2) By Application Type: Hypertriglyceridemia, Other Application Type
3) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
Top Major Players
Pfizer Inc.
BASF SE
Merck & Co Inc.
Novartis International AG
Sanofi S.A.
Major companies operating in the omega-3 prescription drug market are focusing on product launches, such as capsules, to work by decreasing the number of triglycerides made by the body. Capsules are pharmaceutical or dietary supplement dosage forms consisting of a shell typically made of gelatin or a similar substance enclosing a specific quantity of medication, nutrients, or other active ingredients in a convenient and easily ingestible form. For instance, in March 2023, Hikma Pharmaceuticals, an England-based multinational pharmaceutical company that manufactures generic and in-licensed pharmaceutical products, launched Icosapent Ethyl Capsules, 0.5g, in the US. This is indicated for reducing triglyceride levels in adults with severe hypertriglyceridemia, containing eicosatetraenoic acid (EPA) known for its triglyceride-lowering effects. This launch innovates the market by addressing severe hypertriglyceridemia, meeting the rising demand for pharmaceutical-grade omega-3 products, and aligning with the market's focus on effective therapies for conditions like high triglyceride levels.
The omega 3 prescription drugs market report table of contents includes:
1. Executive Summary
2. Omega 3 Prescription Drugs Market Characteristics
3. Omega 3 Prescription Drugs Market Trends And Strategies
4. Omega 3 Prescription Drugs Market - Macro Economic Scenario
5. Global Omega 3 Prescription Drugs Market Size and Growth
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32. Global Omega 3 Prescription Drugs Market Competitive Benchmarking
33. Global Omega 3 Prescription Drugs Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Omega 3 Prescription Drugs Market
35. Omega 3 Prescription Drugs Market Future Outlook and Potential Analysis
36. Appendix
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