Omega 3 Prescription Drugs Market Size, Growth, Trends | Report 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
Report Highlights
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
Market Segmentation
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
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers