Omega 3 Prescription Drugs Market Insights, Share, and Demand Analysis 2023-2032

Global omega 3 prescription drugs market size is expected to reach $2.37 Bn by 2028 at a rate of 9.8%, segmented as by drug type, vascepa, lovaza, other type

Jul 24, 2024 - 12:05

Omega 3 Prescription Drugs Market Insights, Share, and Demand Analysis 2023-2032

Overview and Scope

The omega-3 prescription drug lowers the number of triglycerides (a fat-like substance) in the blood and raises the levels of good cholesterol (HDL) in the body. Omega-3 drugs or fatty acids are nutrients obtained from food (or supplements) that assist in developing and maintaining a healthy body and are critical in constructing every cell wall.

Sizing and Forecast

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.

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Segmentation & Regional Insights

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

North America was the largest region in the omega 3 prescription drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the omega 3 prescription drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

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.

Key Industry Players

Major companies operating in the omega 3 prescription drugs market report are Pfizer Inc., BASF SE, Merck & Co Inc., Novartis International AG, Sanofi S.A., AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Viatris Inc., AbbVie Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Eisai Co Ltd., Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Cipla Limited, Hikma Pharmaceuticals plc, Intas Pharmaceuticals Ltd., Recordati S.p.A., Vifor Pharma Management Ltd., Lupin Limited, Glenmark Pharmaceuticals Ltd., Alkem Laboratories Ltd., Sunovion Pharmaceuticals Inc., Cadila Healthcare Ltd., Torrent Pharmaceuticals Ltd., Wockhardt Ltd., Amarin Pharmaceuticals Ireland Ltd., Natrapharm Inc.

The omega 3 prescription drugs market report table of contents includes: