Brazil Lipid Disorder Therapeutics Market Analysis

Brazil Lipid Disorder Therapeutics Market Executive Summary

Brazil's Lipid Disorder Therapeutics Market is at around $627.8 Mn in 2023 and is projected to reach $1,488.9 Mn in 2030, exhibiting a CAGR of 13.13% during the forecast period.

The several kinds of fats found in blood are called lipids, or lipoproteins. Lipid diseases are a broad category of metabolic ailments that affect blood lipid levels. The heightened blood levels of lipoproteins, triglycerides, and/or cholesterol that they share are associated with an increased risk of cardiovascular disease, if it occurs at all. Low-density lipoproteins (LDLs) can be lowered by following several easy steps, including cutting back on foods high in saturated fat, cholesterol, and calories; exercising; maintaining a healthy weight; and quitting smoking. Statins are the drugs that are most frequently prescribed to address lipids.

Prevalence of lipid alterations was 20.3%, reaching 42.9% in those who were obese. Demographic factors such as an aging population and urbanization contribute significantly to this increase. Healthcare expenditure is growing, with Brazil spending around 9.1% of its GDP on healthcare in 2022. This investment supports better access to treatments and diagnostic tools for lipid disorders​. The market therefore is driven by significant factors like the Rising Prevalence of Cardiovascular Diseases, the ageing population, and Advancements in Therapeutics and Technologies. However, Preventative Healthcare, Side effects, and High cost of drugs restrict the growth and potential of the market.

In March 2023, the US Food and Drug Administration (FDA) authorized the extended use of Regeneron Pharmaceuticals, Inc.'s Evkeeza medication in children aged 5 to 11 years to treat an extremely rare condition that raises cholesterol levels.

Market Dynamics

Market Growth Drivers

Rising Prevalence of Cardiovascular Diseases:  Dyslipidemia is a major risk factor for cardiovascular diseases (CVDs), which continue to be the leading cause of mortality. The need for cholesterol-lowering treatments is fueled by the rising prevalence of CVDs since controlling lipid levels is essential for preventing heart attacks and strokes. The need for efficient therapies for lipid disorders is heightened by the fact that about one-third of adults have excessive cholesterol, according to the Centers for Disease Control and Prevention (CDC).​

Ageing Population: The elderly population is particularly vulnerable to lipid abnormalities and related cardiovascular problems. The prevalence of diseases like hypercholesterolemia and hypertriglyceridemia rises with the number of senior people, which raises the need for lipid disorder therapies to successfully treat these ailments.

Advancements in Therapeutics and Technologies: The development of new lipid-lowering drugs and improved diagnostic tools, such as advanced lipid panel testing kits and analyzers, have enhanced the capability to effectively manage and treat lipid disorders. Pharmaceutical companies' focus on research and development in this area is driving market expansion​.

Market Restraints

Preventative Healthcare: Brazil healthcare emphasizes preventative measures to manage dyslipidemia. This includes dietary changes, exercise promotion, and weight management. While these approaches can be highly effective, behaviour modification can be challenging for some patients, potentially limiting the sole reliance on medication for managing lipid disorders.

Side effects: The side effects of cholesterol-lowering drugs are one of the main obstacles facing the lipid disease therapeutics market. Common medications like statins can cause side effects like elevated blood sugar, liver damage, and muscle soreness, which can discourage patients and restrict market growth. Because of these side effects, patients must be closely monitored and managed, which raises healthcare expenses and complicates treatment regimens.​

High cost of drugs: Since lipid synthesis is complicated and requires high-quality raw materials, developing and producing lipid-based medications comes at a significant financial expense. Because customers frequently pay for these expenses, fewer people can afford these therapies. Generally, the market expansion might be restricted by the high cost, which can be a major obstacle, particularly for patients who lack sufficient insurance coverage.

Regulatory Landscape and Reimbursement Scenario

The Brazilian Health Regulatory Agency (ANVISA), which oversees healthcare goods and services from clinical trial authorization to post-marketing surveillance, is responsible for granting marketing authorization (MA) in Brazil. The 10-year MA by Anvisa certifies that medications are high-quality, safe, and effective. Companies must also apply for maximum pricing clearance from the Drug Market Regulatory Chamber (CMED) in order to be permitted to enter the Brazil market.

All citizens and visitors, including those without legal status, have free and full access to a range of services, including hospital, mental health, outpatient speciality, primary, and prescription drug coverage. There is no need for an application procedure. When it comes to medical treatments, there is no cost-sharing. Approximately 25% of Brazilians, primarily those from middle-class and upper-class backgrounds, possess private health insurance in order to avoid obstacles when seeking medical attention. Costs associated with purchasing health-related items and private health insurance are deductible from taxes.

Competitive Landscape

Key Players

Here are some of the major key players in the Brazil Lipid Disorder Therapeutics Market:

• Sanofi
• Sun Pharmaceutical Industries Ltd.
• Pfizer, Inc.
• GlaxoSmithKline plc
• Novartis AG
• Merck & Co., Inc.
• Amgen Inc.
• Takeda Pharmaceutical Company Limited
• AbbVie, Inc.
• Viatris
• AstraZeneca PLC
• Dr. Reddy’s Laboratories Ltd.