How Has The Omega 3 Prescription Drugs Market Size Evolved In Recent Years?
The omega 3 prescription drugs market has seen considerable growth due to a variety of factors.
• In recent times, there has been a significant expansion in the market size of Omega 3 prescription drugs. The market is projected to escalate from a worth of $1.61 billion in 2024 to $1.76 billion in 2025, with a compound annual growth rate of 9.5%.
This progress in the historic period is a result of heightened health consciousness, scientific exploration, focus on cardiovascular health, medical advices, and control of chronic diseases.
What Are the Future Growth Projections for the Omega 3 Prescription Drugs Market?
The omega 3 prescription drugs market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the omega 3 prescription drugs market is projected to witness accelerated growth, expanding to a value of $2.61 billion by 2029 with a compound annual growth rate (CAGR) of 10.3%.
The surge anticipated during the forecast period is attributable to broadened indications, changing consumer tendencies, targeted health approaches, individualized medical treatment, and an increase in clinical evidence. The forecast period will also observe major trends such as customized health strategies, diversified health conditions, pioneering formulations, the rising fame of health supplements, and the prevalence of health applications and wearable technology.
What Are The Primary Growth Drivers In The Omega 3 Prescription Drugs Market?
The escalation in instances of cardiovascular diseases (CVDs) is predicted to stimulate the expansion of the omega-3 prescription drug market. The correlation between elevated blood triglyceride levels, a fat-like compound, and greater cardiovascular disease risk suggests omega-3 supplements' role in moderating and reducing triglyceride levels. For instance, the World Health Organization's (WHO) 2022 report indicates that cardiovascular diseases (CVDs) amounted to the primary cause of death globally, leading to nearly 20.5 million deaths, approximately a third of all worldwide fatalities. This signifies a surge when compared to the former estimate of 121 million deaths linked to CVD. Consequently, the increase in cardiovascular disease (CVDs) cases propels the omega-3 prescription drug market's expansion.
What Are The Major Segments Within The Omega 3 Prescription Drugs Market?
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
Subsegments:
1) By Vascepa: Pure EPA (Eicosapentaenoic Acid) Formulation, Indications For Cardiovascular Risk Reduction
2) By Lovaza: Combination Of EPA And DHA (Docosahexaenoic Acid), Indications For Hypertriglyceridemia Management
3) By Other Types: Epanova (Omega-3 Carboxylic Acids), Omega-3 Formulations In Clinical Trials, Other Prescription Omega-3 Products
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Which Trends Are Expected To Transform The Omega 3 Prescription Drugs
The emergence of new product innovations is a significant trend gaining traction in the omega-3 prescription drug market. The primary focus of major companies involved in omega-3 drug manufacturing is to create groundbreaking product innovations to reinforce their market standing. For instance, in October 2022, DSM received approval from the European Commission to deliver plant-based omega-3 products as fish and animal substitutes throughout the EU. According to DSM, this product boosts the nutritional value of plant-based foods and facilitates the creation of fish products modeled on animals, mimicking existing fish products. This omega 3 supplement can enhance the nutritional benefits of products without negatively affecting the marine ecosystem.
Who Are the Key Players in the Omega 3 Prescription Drugs Market?
Major companies operating in the omega 3 prescription drugs market include:
• Ionis Pharmaceuticals
• Sarepta Therapeutics
• Alnylam Pharmaceuticals
• Wave Life Sciences
• Dyno Therapeutics
• BioNTech SE
• Moderna Therapeutics
• Silence Therapeutics
• Arrowhead Pharmaceuticals
• ProQR Therapeutics
• Regulus Therapeutics
• Stoke Therapeutics
• Editas Medicine
• Beam Therapeutics
• Miragen Therapeutics
• Biogen Inc.
• Pfizer Inc.
• GlaxoSmithKline plc
• Arbutus Biopharma
• Sanofi S.A.
• Benitec Biopharma
• CRISPR Therapeutics
• Dicerna Pharmaceuticals
• Translate Bio
• PepGen Inc.
• Sirnaomics Inc.
• Sterna Biologicals
• Genevant Sciences
• Genzyme Corporation.
What Is The Most Dominant Region In The Omega 3 Prescription Drugs Market?
North America was the largest region in the omega 3 prescription drugs market in 2024. 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.
