Healthcare

Global Omega 3 Market – Industry Share & Forecast

The Omega 3 Prescription Drugs Global Market Report 2023 by The Business Research Company, provides omega 3 prescription drugs market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Omega 3 Prescription Drugs Global Market Report 2023, the global omega 3 prescription drugs market size is expected to grow from $1.37 billion in 2022 to $1.49 billion in 2023 at a compound annual growth rate (CAGR) of 8.74%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the omega 3 prescription drugs market is expected to reach $2.09 billion in 2027 at a CAGR of 8.84%.

Rising cases of cardiovascular diseases (CVDs) are expected to contribute to the growth of the omega-3 prescription drug market. Increased blood triglyceride levels (a fatty-like substance) are linked to a higher risk of cardiovascular disorders, and omega-3 supplements aid in regulating and lowering triglyceride levels.

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The omega 3 prescription drugs market 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

New product innovations have emerged as a key trend gaining popularity in the omega-3 prescription drug market. Major companies operating in the manufacturing of omega-3 drugs are focused on developing new product innovations to strengthen their position in the market. For instance, in October 2022, the European Commission gave the green light to plant-based omega-3 products from DSM for fish and animal substitutes throughout the EU. DSM claims that the product enhances plant-based foods’ nutritional profile and enables the development of fish products based on animals that will be similar to current fish products. This omega 3 supplement can be used to enhance the nutritional content of goods without having an adverse effect on the marine ecosystem.

The omega 3 prescription drugs market report table of contents includes: