Omega 3 Prescription Drugs Market (By Distribution Channel: Hospital, Online Pharmacy; By Application: Hypertriglyceridemia; By Drug: Vascepa, Lovaza) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

The global omega 3 prescription drugs market was valued at USD 1.3 billion in 2021 and it is predicted to surpass around USD 2.77 billion by 2030 with a CAGR of 8.77% from 2022 to 2030

Omega-3 Prescription Drugs Market Size 2021 to 2030

Report Highlights

  • The Vascepa drug segment dominated the global industry in 2021 and accounted for the largest share of more than 45.7% of the overall revenue. 
  • The hypertriglyceridemia application segment dominated the industry in 2021 and accounted for the largest revenue share of more than 85.5%. 
  • The retail pharmacy distribution channel segment dominated the industry in 2021 and accounted for the largest share of more than 53.67% of the overall revenue. 
  • The hospital pharmacy segment is expected to register the fastest growth rate over the forecast period. 
  • North America dominated the global industry in 2021 and accounted for the maximum share of more than 43.94% of the global revenue. 
  • Asia Pacific, on the other hand, is estimated to register the fastest growth rate during the forecast period. 

The growth of the industry is attributed to the rising cases of Cardiovascular Diseases (CVDs) and altered dietary practices. An elevated level of triglycerides in the blood is now known to be associated with an increased risk of cardiovascular disease. According to the European Society of Cardiology in 2021, 17.9 million people die from CVDs each year, making it the leading cause of death worldwide. Furthermore, due to the expanding product application potential in medicines, omega 3-based pharmaceutical product launches by industry participants are anticipated to boost its growth.

For instance, in 2020, the U.S. FDA authorized a new cardiovascular indication and label expansion for the omega-3 medication VASCEPA, manufactured by U.S.-based Amarin Corporation. An increase in triglycerides can cause artery narrowing, which raises the risk of heart attack and stroke. Pancreatitis, an inflammation of the pancreas, can result from extremely high levels as well. Triglyceride levels rise as a result of diabetes and obesity, which is a widespread issue. An average of 25% of American adults have high borderline blood alcohol concentrations. The omega-3 fatty acid medications are prescribed only for triglycerides levels above 500 mg/dl as approved by the U.S. FDA. The omega 3 prescription drugs demonstrated a significant market movement during the COVID-19 pandemic.

This is owing to their significant role in the management of CVD patients. For instance, in August 2021, Woodward Pharma Services LLC announced the acquisition of LOVAZA from GlaxoSmithKline. The company further aims to educate consumers and providers to facilitate higher adoption of the product. Moreover, multiple R&D studies are being conducted for lowering triglycerides; combined and analyzed findings from 17 organized and randomized clinical trials on elevated triglyceride levels, suggest that prescription omega-3 fatty acid medication can reduce levels by 20-30%. This is expected to create high product demand. 

Scope of The Report

Report Coverage Details
Market Size in 2021 USD 1.3 billion
Revenue Forecast by 2030 USD 2.77 billion
Growth rate from 2022 to 2030 CAGR of 8.77%
Base Year 2021
Forecast Period 2022 to 2030
Segmentation Drug, application, distribution channel, region
Companies Covered Abbott; Amarin Pharmaceuticals Ireland Ltd.; GSK plc; Natrapharm, Inc. (Patriot Pharmaceutical Corp.); Viatris Inc.; Grupo Ferrer Internacional, S.A.; Camber Pharmaceuticals, Inc.; Dr. Reddy’s Laboratories Ltd.; Zydus Group; Hikma Pharmaceuticals PLC

 

Drug Insights

On the basis of drugs, the global industry has been further categorized into Vascepa, Lovaza, and others. The Vascepa drug segment dominated the global industry in 2021 and accounted for the largest share of more than 45.7% of the overall revenue. The growth of this segment can be attributed to the high adoption of Vascepa. It is an FDA-approved therapy for patients with high levels of triglycerides. In December 2019, the FDA approved Vascepa as a complement to statins for people suffering from heart disease, diabetes, and two or more additional risk factors for heart disease and having triglycerides levels over 150 mg/dL.

On the other hand, the other drugs segment is anticipated to expand at the fastest CAGR during the forecast period. The Lovaza drug segment is also projected to expand at a significant CAGR over the forecast period. Lovaza is the first FDA-approved omega 3 prescription drug, which is highly effective and a medical-grade supplement for the management of high triglycerides. The segment growth is driven by the wide availability of generics and the adoption of Lovaza within the target population.

Application Insights

On the basis of applications, the global industry has been further segmented into hypertriglyceridemia and other applications. The hypertriglyceridemia application segment dominated the industry in 2021 and accounted for the largest revenue share of more than 85.5%. A number of omega-3 fatty acid prescription products are approved by the FDA to be used with the diet for the reduction of triglycerides in patients with severe hypertriglyceridemia. These include products containing both EPA and DHA Lovaza, Omtryg, and Epanova. The easy availability of products to be used for the treatment of hypertriglyceridemia is further boosting the growth of this segment.

However, the others application segment is expected to register the fastest growth rate over the forecast period. Omega 3 prescription drugs have promising results in lowering triglyceride levels; studies have shown that these drugs have a wide range of applications in cardiovascular risks and reduction of cholesterol levels. With a rise in the awareness level among the population regarding healthy living, the adoption of omega 3 prescription drugs is expected to increase. This, in turn, will boost the segment’s growth.

Distribution Channel Insights

On the basis of distribution channels, the global industry has been further divided into hospital pharmacy, online pharmacy, and retail pharmacy. The retail pharmacy distribution channel segment dominated the industry in 2021 and accounted for the largest share of more than 53.67% of the overall revenue. The high share of this segment can be attributed to the presence of skilled and certified pharmacists, which offer a better experience and attention to patients than online pharmacies. Increasing awareness among the population about the product and easy access to Rx products from the retail pharmacy is expected to propel the segment growth over the forecast years.

On the other hand, the hospital pharmacy segment is expected to register the fastest growth rate over the forecast period. The growth of the segment is attributed to the presence of experienced physicians who aim at reducing errors while prescribing drugs and providing immediate access to medications. The treatment of cardiovascular diseases is much easier with medications from hospital pharmacies as they cover in-patient and out-patient services. Moreover, targeting generics proves to be an effective strategy for the overall growth of the industry.

Regional Insights

North America dominated the global industry in 2021 and accounted for the maximum share of more than 43.94% of the global revenue. The region is anticipated to grow at a significant CAGR over the forecast period. As per the CDC in 2022, in the U.S., heart-related diseases are the leading cause of death for both sexes and members of the majority of racial and ethnic groups. In the U.S., one person dies every 36 seconds from CVD. The region’s rising concern over heart-related disorders is driving up the product demand. Moreover, high triglyceride level is associated with obesity, and two out of three adults in the U.S. are obese or overweight, which accounts for 69%, and one out of three is obese accounting for 36%.

Asia Pacific, on the other hand, is estimated to register the fastest growth rate during the forecast period. Diabetes mellitus is on the rise and has emerged as a serious health issue in the Asian population in recent years. One of the most significant side effects and the leading causes of death in diabetic patients is CVD. Elevated low-density lipoprotein cholesterol has been a major concern when it comes to CVD risk factors. Rising concerns related to lowering triglyceride levels among the population are boosting the industry growth in this region.

Key Players

  • Abbott
  • Amarin Pharmaceuticals Ireland Ltd.
  • GSK plc (GlaxoSmithKline plc)
  • Natrapharm, Inc. (Patriot Pharmaceutical Corp.)
  • Viatris, Inc.
  • Grupo Ferrer Internacional, S.A.
  • Camber Pharmaceuticals, Inc.
  • Dr. Reddy’s Laboratories Ltd.
  • Zydus Group
  • Hikma Pharmaceuticals PLC

Market Segmentation

  • By Drug Outlook
    • Vascepa
    • Lovaza
    • Others
  • By Application Type Outlook
    • Hypertriglyceridemia
    • Others
  • By Distribution Channel Outlook
    • Hospital Pharmacy
    • Retail Pharmacy
    • Online Pharmacy
  • By Regional Outlook
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
    • Asia Pacific
      • Japan
      • China
      • India
      • Australia
      • South Korea
    • Latin America
      • Brazil
      • Mexico
      • Argentina
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Omega 3 Prescription Drugs Market 

5.1. COVID-19 Landscape: Omega 3 Prescription Drugs Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Omega 3 Prescription Drugs Market, By Drug

8.1. Omega 3 Prescription Drugs Market, by Drug, 2022-2030

8.1.1 Vascepa

8.1.1.1. Market Revenue and Forecast (2017-2030)

8.1.2. Lovaza

8.1.2.1. Market Revenue and Forecast (2017-2030)

8.1.3. Others

8.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Omega 3 Prescription Drugs Market, By Application Type

9.1. Omega 3 Prescription Drugs Market, by Application Type, 2022-2030

9.1.1. Hypertriglyceridemia

9.1.1.1. Market Revenue and Forecast (2017-2030)

9.1.2. Others

9.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 10. Global Omega 3 Prescription Drugs Market, By Distribution Channel 

10.1. Omega 3 Prescription Drugs Market, by Distribution Channel, 2022-2030

10.1.1. Hospital Pharmacy

10.1.1.1. Market Revenue and Forecast (2017-2030)

10.1.2. Retail Pharmacy

10.1.2.1. Market Revenue and Forecast (2017-2030)

10.1.3. Online Pharmacy

10.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 11. Global Omega 3 Prescription Drugs Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Drug (2017-2030)

11.1.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.1.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Drug (2017-2030)

11.1.4.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.1.4.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Drug (2017-2030)

11.1.5.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.1.5.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Drug (2017-2030)

11.2.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.2.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Drug (2017-2030)

11.2.4.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.2.4.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Drug (2017-2030)

11.2.5.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.2.5.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Drug (2017-2030)

11.2.6.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.2.6.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Drug (2017-2030)

11.2.7.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.2.7.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Drug (2017-2030)

11.3.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.3.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Drug (2017-2030)

11.3.4.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.3.4.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Drug (2017-2030)

11.3.5.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.3.5.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Drug (2017-2030)

11.3.6.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.3.6.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Drug (2017-2030)

11.3.7.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.3.7.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Drug (2017-2030)

11.4.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.4.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Drug (2017-2030)

11.4.4.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.4.4.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Drug (2017-2030)

11.4.5.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.4.5.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Drug (2017-2030)

11.4.6.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.4.6.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Drug (2017-2030)

11.4.7.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.4.7.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Drug (2017-2030)

11.5.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.5.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Drug (2017-2030)

11.5.4.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.5.4.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Drug (2017-2030)

11.5.5.2. Market Revenue and Forecast, by Application Type (2017-2030)

11.5.5.3. Market Revenue and Forecast, by Distribution Channel (2017-2030)

Chapter 12. Company Profiles

12.1. Abbott

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Amarin Pharmaceuticals Ireland Ltd.

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. GSK plc (GlaxoSmithKline plc)

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Natrapharm, Inc. (Patriot Pharmaceutical Corp.)

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Viatris, Inc.

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Grupo Ferrer Internacional, S.A.

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Camber Pharmaceuticals, Inc.

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Dr. Reddy’s Laboratories Ltd.

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Zydus Group

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Hikma Pharmaceuticals PLC

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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