Omega 3 Prescription Drugs Market Size, Share & Trends Analysis Report By Distribution Channel (Hospital, Online Pharmacy), By Application (Hypertriglyceridemia), By Drug (Vascepa, Lovaza), By Region- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2024-2033

The global omega 3 prescription drugs market size was estimated at USD 1.25 billion in 2023, is expected to surpass around USD 2.77 billion by 2033, and is poised to grow at a compound annual growth rate (CAGR) of 8.29% during the forecast period of 2024 to 2033.

Omega 3 Prescription Drugs Market Size 2024 To 2033

Key Takeaways:

  • North America dominated the global industry in 2023 and accounted for the maximum share of more than 45.0% of the global revenue.
  • The Vascepa drug segment dominated the global industry in 2023 and accounted for the largest share of more than 45.60% of the overall revenue
  • The hypertriglyceridemia application segment dominated the industry in 2023 and accounted for the largest revenue share of more than 85.45%.
  • The retail pharmacy distribution channel segment dominated the industry in 2023 and accounted for the largest share of more than 55.0% of the overall revenue.

Omega 3 Prescription Drugs Market Report Scope

 Report Coverage  Details
Market Size in 2024 USD 1.25 Billion
Market Size by 2033 USD 2.77 Billion
Growth Rate From 2024 to 2033 CAGR of 8.29%
Base Year 2023
Forecast Period 2024-2033
Segments Covered Drug, Application, Distribution Channel, Region
Market Analysis (Terms Used) Value (US$ Million/Billion) or (Volume/Units)
Regional Scope North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa
Key Companies Profiled 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.

 

The key factors boosting industry growth are increasing cases of cardiovascular diseases (CVDs), obesity, and hypertriglyceridemia, and the geographical expansion of omega 3 prescription drug companies. The rising concerns related to the maintenance of cholesterol levels are also expected to drive the industry. According to an article published by the Journal of the American Heart Association in 2023, obesity is one of the major driving factors contributing to diabetes.

Obesity is linked to 30-53% of new diabetes cases in the U.S. The high triglyceride levels amongst this population are projected to drive the demand for omega 3 prescription drugs. Altered dietary practices aided with growing awareness about the importance of the management of triglycerides are expected to drive the industry. Companies are entering into partnerships to facilitate faster product availability. For instance, in February 2023, Edding, the commercialization partner of Amarin, for Vascepa in China, announced the acceptance of a new drug application by NMPA. The industry is facing a threat with the entry of generic drugs in the U.S., which is adversely influencing the sales of prescription products, such as Vascepa.

For instance, in May 2023, Amarin reported a plunge in sales by 33%, owing to the slashed prices by the company to compete with the generics. Moreover, industry players are focusing on developing novel drugs for the treatment of related disease conditions. For instance, Alfa, which is being developed jointly by KD Biopharma and SLA Pharma AG, which specializes in the development of new medications for the treatment of gastrointestinal disorders is currently in phase III trials. It has received orphan drug designation in both Europe and the U.S. Furthermore, players are adding omega 3 prescription drugs to their portfolio.

For instance, in 2019, Camber Pharmaceuticals announced the launch of Omega- 3 Acid Ethyl Esters Capsules i.e. generic Lovaza. This is projected to intensify the market competition. Although the adoption and use of omega 3 drugs are increasing, the biggest setback for the industry is the cost associated with these drugs. For instance, the cost of treatment using Vacepa is USD 15 per day i.e., USD 5,504 per year, which limits the overall access to the drugs that are not covered under insurance. However, this demonstrates an unmet need in the sector, which is being fulfilled by new generic product manufacturers that are entering the industry.

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 2023 and accounted for the largest share of more than 45.60% 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 triglyceride 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 2023 and accounted for the largest revenue share of more than 85.45%. 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 2023 and accounted for the largest share of more than 55.0% 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.

Omega 3 Prescription Drugs Market Share, By End-use, 2023 (%)

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 2023 and accounted for the maximum share of more than 45.0% of the global revenue. The region is anticipated to grow at a significant CAGR over the forecast period. As per the CDC in 2023, 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%.

Omega 3 Prescription Drugs Market Share, By Region 2023 (%)

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.

Some of the prominent players in the Omega 3 prescription drugs market include:

  • 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

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2023 to 2033. For this study, Nova one advisor, Inc. has segmented the global omega 3 prescription drugs market.

Drug

  • Vascepa
  • Lovaza
  • Others

Application Type

  • Hypertriglyceridemia
  • Others

Distribution Channel

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Pharmacy

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Frequently Asked Questions

The global omega 3 prescription drugs market size was estimated at USD 1.25 billion in 2023, is expected to surpass around USD 2.77 billion by 2033.

The global omega 3 prescription drugs market is expected to grow at a compound annual growth rate of 8.29% from 2024 to 2033 to reach USD 2.77 billion by 2033.

Some key players operating in the omega 3 prescription drugs market are Abbott, Amarin Pharmaceuticals Ireland Limited., 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.

Chapter 1 Omega 3 Prescription Drugs Market: Methodology and Scope

1.1 Research Methodology

1.2 Research Assumptions

1.2.1 Estimates and forecast timeline

1.3 Information Procurement

1.3.1 Purchased database

1.3.2 internal database

1.3.3 Secondary sources

1.3.4 Primary research

1.3.5 Details of primary research

1.4 Information or Data Analysis

1.4.1 Data analysis models

1.5 Market Formulation & Validation

1.6 Model Details

1.6.1 Commodity flow analysis

1.6.1.1 Approach 1: Commodity flow approach

1.6.2 Volume price analysis (model 2)

1.6.2.1 Approach 2: Volume price analysis

1.6.2.2 Revenue modeling

1.7 List of Secondary Sources

1.8 List of Primary Sources

Chapter 2 Omega 3 Prescription Drugs Market: Executive Summary

2.1 Market summary

Chapter 3 Omega 3 Prescription Drugs Market: Industry Outlook

3.1 Market Lineage Outlook

3.1.1 Parent Market Outlook

3.2 Penetration & Growth Prospect Mapping

3.3 Market Dynamics

3.3.1 Market Driver Analysis

3.3.1.1 Increasing prevalence of cardiovascular diseases, obesity and hypertriglyceridemia

3.3.1.2 Development of novel drugs for treatment of related disease condition

3.3.1.3 Rising concerns related to immunity supplements

3.3.1.4 Sedentary lifestyles, the trend toward working from home, and a lack of physical activity

3.3.2 Market Restraint Analysis

3.3.2.1 High cost associated with omega 3 prescription drugs

3.4 Porter’s Five Forces Analysis

3.5 SWOT Analysis, by Factor (Political & Legal, Economic, and Technological)

3.6 Regulatory Framework

3.7 User Perspective Analysis

Chapter 4 Omega 3 Prescription Drugs Market: Competitive Landscape

4.1 Recent developments & impact analysis, by key market participants

4.1.1 Ansoff Matrix

4.2 Major deals & strategic alliances analysis

4.2.1 Joint Ventures

4.2.2 Licensing and Partnerships

4.2.3 Technological Collaborations

4.3 Company/Competition Categorization

4.4 Vendor Landscape

4.4.1 List Of Key Distributors and Channel Partners

4.4.2 Key Customers

4.5 Public Companies

4.5.1 Company Market Position Analysis

4.6 Private Companies

4.6.1 List Of Key Emerging Companies

4.6.2 Regional Network Map

Chapter 5 Omega 3 Prescription Drugs Market: Drug Business Analysis

5.1 Definition and Scope

5.2 Type Market Share Analysis, 2024 & 2033

5.3 Global Omega 3 Prescription Drugs Market, By Drugs, 2024 to 2033

5.4 Market Size & Forecasts and Trend Analyses, 2024 to 2033

5.4.1 Vascepa

5.4.1.1 Vascepa Market 2021 - 2033

5.4.2 Lovaza

5.4.2.1 Lovaza Market, 2021 - 2033

5.4.3 Others

5.4.2.3 Others Market, 2021 - 2033

Chapter 6 Omega 3 Prescription Drugs Market: Application Business Analysis

6.1 Definition and Scope

6.2 Application Market Share Analysis, 2024 & 2033

6.3 Global Omega 3 Prescription Drugs Market, By Application, 2024 to 2033

6.4 Market Size & Forecasts and Trend Analyses, 2024 to 2033

6.4.1 Hypertriglyceridemia

6.4.1.1 Hypertriglyceridemia Market 2021 - 2033

6.4.2 Others

6.4.2.1 Others Market, 2021 - 2033

Chapter 7 Omega 3 Prescription Drugs Market: Distribution Channel Business Analysis

7.1 Definition and Scope

7.2 Application Market Share Analysis, 2024 & 2033

7.3 Global Omega 3 Prescription Drugs Market, By Distribution Channel, 2024 to 2033

7.4 Market Size & Forecasts and Trend Analyses, 2024 to 2033

7.4.1 Hospital Pharmacy

7.4.1.1 Hospital Pharmacy Market 2021 - 2033

7.4.2 Retail Pharmacy

7.4.2.1 Retail Pharmacy Market, 2021 - 2033

7.4.2 Online Pharmacy

7.4.2.1 Online Pharmacy Market, 2021 - 2033

Chapter 8 Omega 3 Prescription Drugs Market: Regional Business Analysis

8.1 Definition & Scope

8.2 Regional Market Share Analysis, 2024 & 2033

8.3 Regional Market Dashboard

8.4 Regional Market Snapshot

8.5 SWOT Analysis, By Factor (Political & Legal, Economic and Technological)

8.5.1 North America

8.5.2 Europe

8.5.3 Asia Pacific

8.5.4 Latin America

8.5.5 MEA

8.6 Market Size, & Forecasts, Trend Analysis, 2021 to 2030

8.7 North America

8.7.1 North America Omega 3 Prescription Drugs Market, 2021 - 2033

8.7.2 U.S.

8.7.2.1 U.S. Omega 3 Prescription Drugs Market, 2021 - 2033

8.7.3 Canada

8.7.3.1 Canada Omega 3 Prescription Drugs Market, 2021 - 2033

8.8 Europe

8.8.1 Europe Omega 3 Prescription Drugs Market, 2021 - 2033

8.8.2 U.K.

8.8.2.1 U.K. Omega 3 Prescription Drugs Market, 2021 - 2033

8.8.3 Germany

8.8.3.1 Germany Omega 3 Prescription Drugs Market, 2021 - 2033

8.8.4 France

8.8.4.1 France Omega 3 Prescription Drugs Market, 2021 - 2033

8.8.5 Italy

8.8.5.1 Italy Omega 3 Prescription Drugs Market, 2021 - 2033

8.8.6 Spain

8.8.6.1 Spain Omega 3 Prescription Drugs Market, 2021 - 2033

8.9 Asia Pacific

8.9.1 Asia-Pacific Omega 3 Prescription Drugs Market, 2021 - 2033

8.9.2 Japan

8.9.2.1 Japan Omega 3 Prescription Drugs Market, 2021 - 2033

8.9.3 China

8.9.3.1 China Omega 3 Prescription Drugs Market, 2021 - 2033

8.9.4 India

8.9.4.1 India Omega 3 Prescription Drugs Market, 2021 - 2033

8.9.5 Australia

8.9.5.1 Australia Omega 3 Prescription Drugs Market, 2021 - 2033

8.9.6 South Korea

8.9.6.1 South Korea Omega 3 Prescription Drugs Market, 2021 - 2033

8.10 Latin America

8.10.1 Latin America Omega 3 Prescription Drugs Market, 2021 - 2033

8.10.2 Brazil

8.10.2.1 Brazil Omega 3 Prescription Drugs Market, 2021 - 2033

8.10.3 Mexico

8.10.3.1 Mexico Omega 3 Prescription Drugs Market, 2021 - 2033

8.10.4 Argentina

8.10.4.1 Argentina Omega 3 Prescription Drugs Market, 2021 - 2033

8.11 MEA

8.11.1 MEA Omega 3 Prescription Drugs Market, 2021 - 2033

8.11.2 South Africa

8.11.2.1 South Africa Omega 3 Prescription Drugs Market, 2021 - 2033

8.11.3 Saudi Arabia

8.11.3.1 Saudi Arabia Omega 3 Prescription Drugs Market, 2021 - 2033

8.11.4 UAE

8.11.4.1 UAE Omega 3 Prescription Drugs Market, 2021 - 2033

Chapter 9 Omega 3 Prescription Drugs Market: Company Profiling

9.1 Company Profiles

9.1.1. Abbott

9.1.1.1 Company overview

9.1.1.2 Financial performance

9.1.1.3 Product benchmarking

9.1.1.4 Strategic Initiatives

9.1.2. Amarin Pharmaceuticals Ireland Limited

9.1.2.1 Company overview

9.1.2.2 Financial performance

9.1.2.3 Product benchmarking

9.1.2.4 Strategic Initiatives

9.1.3. GSK plc (GlaxoSmithKline Plc)

9.1.3.1 Company overview

9.1.3.2 Financial performance

9.1.3.3 Product benchmarking

9.1.3.4 Strategic Initiatives

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

9.1.4.1 Company overview

9.1.4.2 Financial performance

9.1.4.3 Product benchmarking

9.1.4.4 Strategic Initiatives

9.1.5. Viatris Inc.

9.1.5.1 Company overview

9.1.5.2 Financial performance

9.1.5.3 Product benchmarking

9.1.5.4 Strategic Initiatives

9.1.6. Grupo Ferrer Internacional, S.A.

9.1.6.1 Company overview

9.1.6.2 Financial performance

9.1.6.3 Product benchmarking

9.1.6.4 Strategic Initiatives

9.1.7. Camber Pharmaceuticals, Inc.

9.1.7.1 Company overview

9.1.7.2 Financial performance

9.1.7.3 Product benchmarking

9.1.7.4 Strategic Initiatives

9.1.8 Dr. Reddy’s Laboratories Ltd.

9.1.8.1 Company overview

9.1.8.2 Financial performance

9.1.8.3 Product benchmarking

9.1.8.4 Strategic Initiatives

9.1.9 Zydus Group

9.1.9.1 Company overview

9.1.9.2 Financial performance

9.1.9.3 Product benchmarking

9.1.9.4 Strategic Initiatives

9.1.10 Hikma Pharmaceuticals PLC

9.1.10.1 Company overview

9.1.10.2 Financial performance

9.1.10.3 Product benchmarking

 

9.1.10.4 Strategic Initiatives

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