Bempedoic Acid API Market Report Overview
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The global bempedoic acid API market size was USD 58 Million in 2022 and market is projected to touch USD 351.82 Million by 2031, at a CAGR of 22.2% from 2022 to 2031.
For the treatment of people with heterozygous familial hypercholesterolemia or established atherosclerotic cardiovascular disease who need further lowering of LDL-C, bempedoic acid is advised as an adjuvant to diet and maximally tolerated statin medication. The compound finds application in several industrial use-cases, including pharmaceutical manufacturing and scientific research.
The demand for the product is increasing due to the increasing occurrence of various chronic and life-threatening diseases across the world. Due to the widespread prevalence of cardiovascular and other diseases, the demand for scientific innovation in healthcare as well as pharmaceutical products is increasing. These factors will augment the bempedoic acid API market growth in the coming years.
COVID-19 Impact: Increased R&D Created New Opportunities Amid Pandemic
The ongoing global health issue, which affects every industry, has a big impact on the expansion of the global market. The coronavirus pandemic has caused numerous problems for the entire business, including a fatal decline in supply, demand analysis, and sales revenue, all of which have had an effect on the expansion of the global bempedoic acid API market. However, growing research and development in the pharmaceutical sector created positive opportunities for the market during the COVID-19 pandemic.
Latest Trends
"New Product Launches to Augment Market Growth"
Major players in the market are introducing new drugs based on bempedoic acid. For instance, in 2022, Zydus Lifesciences said that it has begun selling Bemdac, a medication containing bempedoic acid, in India to treat high levels of bad cholesterol.
In addition to lifestyle changes and the use of maximum tolerated doses of statins, which serve as the cornerstone of the management of dyslipidemia, Bemdac (bempedoic acid) is a new class of medication that is administered orally and provides a new line of treatment for patients with uncontrolled levels of LDL-Cholesterol (LDL-c). Such product launches will benefit the market outlook.
Bempedoic Acid API Market Segmentation
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- By Type Purity
According to type, the market can be segmented into 0.98, 0.99 and others. 0.98 is expected to be the leading segment.
- By Application Analysis
Based on application, the market can be divided into segment 1, segment 2, etc. [mention dominating segment from the link provided]. Note: don’t disclose the % share of the segment.
Driving Factors
"Increasing Occurrence of Liver Problems to Boost Growth"
Adenosine triphosphate-citrate lyase (ACL) inhibitor bempedoic acid reduces low-density lipoprotein cholesterol (LDL-C) by preventing the liver from producing new cholesterol. ACL is an enzyme in the cholesterol biosynthesis pathway that comes before 3-hydroxy-3-methylglutaryl-coenzyme A (HMG-CoA) reductase. Coenzyme A (CoA) must be activated by the enzyme very long-chain acyl-CoA synthetase 1 (ACSVL1) in order for bempedoic acid and its active metabolite, ESP15228, to become ETC-1002-CoA and ESP15228-CoA, respectively. The liver is where ACSVL1 is mainly expressed. Through the activation of low-density lipoprotein receptors, ETC-1002-CoA's inhibition of ACL lowers LDL-C in blood and reduces hepatic cholesterol production. Increasing use in drugs for liver conditions will drive the bempedoic acid API market share.
"Regulatory Approvals to Boost Growth of the Market "
Regulatory approvals will play a key role in boosting market share during the projected period. In 2022, Sun Pharma announced that it would soon be releasing a drug to lower LDL cholesterol. The Mumbai-based pharmaceutical giant announced that one of its wholly-owned subsidiaries intends to introduce Bempedoic Acid, a first-in-class oral cholesterol-lowering medication, in India. The company will market the medication as Brillo.
According to a recent announcement from Cadila Pharmaceuticals, the business has introduced a medication for the treatment of high LDL cholesterol called Belmore (bempedoic acid). A first-of-its-kind medication, bempedoic acid, is used to treat high levels of LDL (low-density lipoprotein) cholesterol, generally known as "bad cholesterol," which can cause significant, life-threatening conditions.
Restraining Factors
"High Cost to Challenge Market Growth During Pandemic"
Since a large portion of the population comes from low- and middle-income nations, the high cost of bempedoic acid presents a barrier to the market for bempedoic acid API. Insulin is essential for the survival of persons with type 1 diabetes, but according to the WHO, low- and middle-income nations do not have access to it because of its high cost and supply problems. The primary issue with insulin pricing is that a small number of companies hold 96% of the global market, setting prices that are unaffordable for many nations and limiting the expansion of the market in the upcoming years.
Bempedoic Acid API Market Regional Insights
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"North America to Dominate Market Share During 2031"
North America is expected to dominate the market share during the forecast period owing to growing pharmaceutical R&D and increasing investments in biopharmaceutical sector. Growing number of biotechnology and biopharmaceutical companies in the region will also boost the regional market share. On the other hand, Asia Pacific will record significant growth in the market. The regional trends can be attributed to the heavy burden of chronic diseases among the population and presence of a large elderly population base.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Esperion
- Metrochem API Pvt Ltd
- Lee Pharma
- Conscientia Industrial Co., Ltd
- Sun Pharmaceutical
- China Fortune Way Company
- Shanghai Yingrui Biopharma Co., Ltd.
- Viruj Pharma
- Henan Dongyao Medical Technology Co., Ltd.
- Speranza Chemical Co., Ltd.
- Rui Laboratories
- Optimus Drugs Pvt LTD
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 58 Million in 2022 |
Market Size Value By |
US$ 351.82 Million by 2031 |
Growth Rate |
CAGR of 22.2% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the global Bempedoic Acid API Market expected to touch by 2031?
The global bempedoic acid API market is expected to touch USD 351.82 million by 2031.
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What CAGR is the Bempedoic Acid API Market expected to exhibit during 2031?
The Bempedoic Acid API Market is expected to exhibit a CAGR of 22.2% over 2031.
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Which are the driving factors of the Bempedoic Acid API Market?
The advancement of technology has provided modern businesses with a number of advantages that are driving daily economic shifts.
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Which are the top companies operating in the Bempedoic Acid API Market?
Esperion, Metrochem API Pvt Ltd, Lee Pharma, Conscientia Industrial Co., Ltd, Sun Pharmaceutical, China Fortune Way Company, Shanghai Yingrui Biopharma Co., Ltd., and Viruj Pharma are the top players in the Bempedoic Acid API Market .