UAE Cholesterol Therapeutics Market Analysis

UAE Cholesterol Therapeutics Market Analysis Executive Summary

The UAE Cholesterol Therapeutics Market is anticipated to experience a growth from $122 Mn in 2022 to $161 Mn by 2030, with a CAGR of 3.6% during the forecast period of 2022-2030.

Cholesterol is a fatty, waxy molecule that helps create cell membranes, produce hormones, and aid in the digestion of fat-soluble vitamins. It circulates in the blood and is divided into two types: LDL and HDL. LDL, sometimes known as "bad" cholesterol, can cause plaque buildup in arteries, resulting in atherosclerosis and an increased risk of heart disease and stroke. On the other hand, HDL, sometimes known as "good" cholesterol, helps eliminate LDL from the bloodstream, lowering the risk of cardiovascular disease. Elevated LDL cholesterol levels are linked to a variety of disorders, most notably cardiovascular disease, which includes coronary artery disease and peripheral artery disease. These disorders are caused by plaque formation in the arteries, which reduces blood flow and increases the risk of blockages. Traditional therapy methods for high cholesterol include lifestyle changes such as diet, exercise, and smoking cessation. Statins, which suppress cholesterol formation, have been routinely prescribed. Newer therapeutic possibilities include PCSK9 inhibitors, which improve LDL elimination, as well as developing medications that target particular cholesterol metabolic pathways. These innovative therapies provide choices for people who have not responded well to standard approaches or are suffering pharmaceutical side effects, giving a holistic strategy for regulating cholesterol levels and preventing related disorders.

The Arabian Gulf area has a threefold higher frequency of familial hypercholesterolemia (FH) than the rest of the globe. Cardiovascular disease accounts for more than a quarter of all fatalities in the UAE. Hypercholesterolemia is prevalent in the UAE, with rates ranging from 47.2% to 53% among the Arab population.

The key factors propelling the market growth in the UAE include the rising prevalence of dyslipidemia due to factors like urbanization, western dietary patterns, and obesity, increased awareness about the health risks associated with high cholesterol, and significant government investments and initiatives aimed at improving healthcare facilities.

Pfizer has the greatest market share, most likely due to its established presence and popular cholesterol-lowering medications. AstraZeneca is also a big participant, with a strong market share due to well-known medications such as Crestor and Brilinta. Numerous smaller local Gulf enterprises contribute to the lower market share. They mostly supply generic pharmaceuticals or serve as distributors for major brands.

Market Dynamics

Market Growth Drivers

Rising Prevalence of Dyslipidemia: Dyslipidemia, particularly excessive cholesterol, is becoming increasingly common in the UAE population. Contributing factors include increased urbanization, the adoption of Western diets heavy in saturated fats and processed sweets, and a lack of physical activity all contribute to increased cholesterol. Additionally, rising obesity rates in the UAE compound the cholesterol problem. As the population ages, the likelihood of acquiring high cholesterol naturally rises.

Increased Awareness about the Diseases: High cholesterol has been linked to health issues such as heart disease, stroke, and peripheral artery disease, leading to increased awareness and concern in the UAE. This awareness increases demand for preventative measures and treatment choices, hence increasing the market for cholesterol-lowering pharmaceuticals.

Government Investments and Initiatives: The UAE government is investing in enhancing healthcare facilities and ensuring pharmaceutical access. Increased insurance coverage makes cholesterol-lowering drugs more affordable to a larger population. Government measures promote routine health checks and the early detection of dyslipidemia, resulting in prompt treatment and market growth. Investing in local production of generic cholesterol medicines may increase affordability and market accessibility.

Market Restraints

Competitive Market Landscape: The presence of a highly competitive market with several pharmaceutical companies producing cholesterol-lowering drugs might result in pricing pressures. Intense competition may lead to price wars and lower profit margins for businesses, reducing their motivation to spend in R&D for new and novel cholesterol-lowering medications.

Cultural and Lifestyle Factors: Cultural preferences and lifestyle choices can both impact the incidence of high cholesterol in a group. Saturated fat diets and sedentary lifestyles have been linked to elevated cholesterol levels. If there is a lack of attention on healthy living and eating habits, it can lead to an increased prevalence of high cholesterol, making it difficult to regulate and manage with therapeutic measures.

High cost and low adherence: The high cost of pharmaceuticals is another barrier to market expansion in the UAE cholesterol-lowering therapeutics industry. Cholesterol-lowering medicines can be costly, limiting therapy options for certain patients, particularly those without insurance or with limited financial means. This might have an influence on market growth by diminishing the overall demand for cholesterol-lowering therapies in the UAE. Furthermore, the high cost of drugs can have an influence on treatment adherence, limiting the efficacy of cholesterol-lowering therapy and potentially affecting patient outcomes.

Healthcare Policies and Regulatory Landscape

Healthcare policies in the UAE are predominantly guided by an array of laws, standards, regulations, and policies at both the federal and emirate levels. Overseeing the healthcare industry, including the oversight of drugs and medicines, is the responsibility of the UAE's drug regulatory authority, the Ministry of Health (MOH). Collaborating with entities like the Health Authority-Abu Dhabi (HAAD), the Dubai Health Authority (DHA), and the newly established Emirates Health Authority (EHA), the MOH plays a crucial role in monitoring and regulating the UAE's healthcare sector. Notably, the UAE has witnessed substantial growth and advancements in its healthcare sector, driven by efforts to diversify the economy and enhance public health. Significant investments in healthcare infrastructure, with over two-thirds of overall healthcare expenditure coming from public spending, underscore the government's commitment. Specialized healthcare zones, including Dubai Healthcare City and Dubai Biotechnology and Research Park, feature their regulatory bodies. The National Drug Policy focuses on governing the manufacturing, selling, and use of drugs and medicines for specific medical purposes, ensuring their safe and effective utilization in the UAE. This policy framework contributes to the overall enhancement of the country's healthcare system.

Competitive Landscape

Key Players:

• Amgen
• Pfizer
• Merck
• AstraZeneca
• Johnson & Johnson
• Julphar
• Cadila
• Sinopharm
• Sanofi
• AbbVie