Omega-3 Prescription Drugs Market Market Share

North America Market Analysis

North America is anticipated to lead the omega-3 prescription drugs market, holding a share of 45.6% during the forecast period. Some of the major factors driving the growth of the market include the increasing incidence of cardiovascular diseases and the strong presence of leading pharmaceutical companies. Besides this, rising consumer awareness related to heart health is one of the key factors highly influencing the demand for omega-3 prescription drugs in the region.

The U.S. dominates the market in North America due to its modern healthcare infrastructure and significant research and development related to omega-3 drugs. In March 2023, Hikma Pharmaceuticals launched Icosapent Ethyl Capsules in the U.S., further strengthening the favorable growth trends of the market. The higher the number of adoptions of omega-3 prescription drugs for cardiovascular risk reduction, the better the opportunity becomes for manufacturers in the sector.

Prescription omega-3 drugs are also finding increased demand in Canada in a national healthcare effort to combat heart disease. Increasing healthcare spending and a favorable government outlook toward parity in prevention are brightening the prospects for the omega-3 prescription drugs market. The various health programs of the government identify the key role omega-3 supplements play in maintaining long-term heart health.

Asia Pacific Market Analysis

Asia Pacific in omega-3 prescription drugs market is estimated to capture over 25% revenue share by 2037, driven by growing awareness among consumers and rising incidences of heart diseases. Moreover, attractive government policies toward preventive healthcare in the region is creating avenues for omega-3 drug producers. The growth in the middle-class population and increase in disposable income also surged demand for high-quality health supplements, including omega-3 products. In addition, stronger local pharmaceutical manufacturing is expected to improve the prospects of growth of both domestic and international participants in Asia Pacific.

India has emerged as a key omega-3 prescription drugs market in the Asia Pacific, fueled by growing awareness of preventive health. Various governmental healthcare-related initiatives have also stimulated the consumption of omega-3 supplements. Coromega launched its Pup Packets for pets in India in July 2021, whereby the innovation continued to meet not only human but also animal health care. This, along with the increasing demand for omega-3 supplements in various clinical applications for the management of heart diseases, has positioned India as one of the leading countries in the Asia Pacific.

The omega-3 prescription drugs market in China is expanding rapidly, fueled by growing awareness with respect to cardiovascular health and huge government support for improvement in healthcare. In February 2023, NMPA approved Vascepa from Amarin for a new drug application and opened the route for the launch of the drug in China. The approval is thus likely to have a big impetus on market growth during the forecast years.