The global market for fish-oil based drugs is witnessing significant growth, with sales projected to rise from USD 4,520.1 million in 2023 to USD 8,277.7 million by 2034, at a Compound Annual Growth Rate (CAGR) of 6.2%. The market is expected to be worth USD 4,800.3 million in 2024, continuing its upward trajectory due to increasing consumer awareness and the growing prevalence of chronic health conditions.
Fish-oil based drugs, known for their rich omega-3 fatty acid content, have gained substantial popularity in recent years, thanks to their scientifically supported benefits for heart health, cognitive performance, and joint function. These drugs have become a cornerstone in preventative healthcare, with more people seeking solutions for maintaining long-term wellness and preventing chronic conditions like cardiovascular diseases and inflammatory disorders.
The surge in demand is also driven by innovations in product formulations, making these treatments more accessible and effective for a wider range of health issues. As awareness about the role of omega-3 fatty acids in overall health continues to grow, consumers are turning to fish-oil based drugs to address not only existing health concerns but also to boost general well-being.
“The fish-oil based drug market’s growth is a testament to the increasing recognition of the therapeutic benefits of omega-3 fatty acids. With more people focusing on prevention and the management of chronic diseases, the demand for these drugs is expected to continue to rise in the coming years,” said FMI.
As consumers seek natural and effective ways to support their health, fish-oil based drugs are positioned to play an increasingly important role in global wellness strategies. With robust evidence supporting their efficacy, these drugs are helping people achieve better heart health, enhance cognitive functions, and improve joint mobility, fueling the market’s promising outlook.
Key Takeaways:
- The global market for fish-oil based drugs is projected to grow from USD 4,520.1 million in 2023 to USD 8,277.7 million by 2034, reflecting a Compound Annual Growth Rate (CAGR) of 6.2% from 2024 to 2034.
- The estimated value of global fish-oil based drug sales in 2024 is USD 4,800.3 million.
- Regional Growth Trends:
- The USA is expected to experience a modest CAGR of 1.5% between 2024 and 2034.
- Germany’s market is projected to grow at a CAGR of 1.6% during the same period.
- France is anticipated to see a slightly higher growth rate with a 2.3% CAGR.
- The UK is expected to exhibit a 1.8% CAGR.
- China’s market will likely see a significant growth rate of 5.8% CAGR.
- India is forecasted to show the strongest growth with a 6.1% CAGR.
- South Korea is expected to grow at a CAGR of 4.7%.
- The global fish-oil based drug market is poised for steady expansion, driven by growing demand across regions, with particularly strong growth expected in emerging markets such as India and China.
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Competitive Landscape:
The fish-oil-based drugs market is highly competitive, with a diverse mix of manufacturers and suppliers focused on developing innovative products to meet evolving consumer needs. Key players are increasingly engaging in strategic partnerships, mergers, and acquisitions to expand their reach, enhance their product portfolios, and strengthen production capabilities in new markets. Rising consumer awareness about the health benefits of omega-3 fatty acids is further intensifying competition, driving the demand for premium-quality fish oil-based drugs globally.
Recent Industry Developments in the Fish-Oil Based Drugs Market
- In June 2024, BASF SE formed a strategic partnership with leading nutraceutical company DSM to co-develop and market a new range of high-purity omega-3 fatty acid supplements. This collaboration leverages BASF’s manufacturing expertise and DSM’s extensive distribution network to strengthen their presence in the North American and European markets.
- In April 2024, Aker BioMarine launched a sustainable krill oil product tailored for pharmaceutical applications. The new product line responds to the growing demand for eco-friendly and sustainably sourced omega-3 supplements, aligning with Aker BioMarine’s focus on sustainability and innovation to capture a larger share of the market.
Key Players of Fish-Oil Based Drugs Industry:
- Solutex GC
- Aker Biomarine
- Croda International PLC
- Stepan Company
- Pharma Marine
- GC Rieber Oil
- Clover Corporation
- BASF SE
- Cellana
- Omega Protein Corporation
- United Laboratories
Key Segments of Fish-Oil Based Drugs Industry:
By Source:
In terms of source, the industry is divided into mackerel, tuna, herring, salmon, and others.
By Form:
In terms of form, the industry is divided into eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA).
By Indication:
In terms of indication, the industry is segregated into coronary heart disease (CHD), rheumatoid arthritis, stroke, Raynaud’s syndrome, dysmenorrhea, and others.
By Distribution Channel:
In terms of distribution channels, the industry is segregated into OTC (supermarkets/, hypermarkets/food stores, drug stores & pharmacies, online retailers, and others), prescribed.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East and Africa (MEA) have been covered in the report.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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