Rising Cases of Cardiovascular Diseases Fuelling Demand for Familial Hypercholesterolemia Treatment: Fact.MR
Increasing use of combination therapy such as ezetimibe and fibrates therapy is likely to boost the growth of the hypercholesterolemia treatment market.
The global familial hypercholesterolemia treatment market is exhibiting steady growth and the trend is expected to continue over the forecast period between 2021 and 2031. According to a study by Fact.MR, rising incidence of cardiovascular diseases such as atherosclerosis and stroke has increased the demand for familial hypercholesterolemia treatment.
According to the National Institutes of Health, for every 100 people, there is a 0.3% prevalence of a heterozygous form of familial hypercholesterolemia and homozygous form of familial hypercholesterolemia occurs in 1 in million population.
North America has emerged as the leading market for familial hypercholesterolemia treatment due to increasing incidence of heart diseases and related disorders in the region. Asia, followed by Europe is predicted to witness a high growth rate in coming years in the hypercholesterolemia market.
“Leading biopharmaceutical players are focusing on expanding their portfolio with increasing adoption rate for familial hypercholesterolemia treatment. This is likely to encourage growth in the market,” says the Fact.MR analyst.
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- North America dominates the familial hypercholesterolemia treatment market owing to its modern medical infrastructure and appreciative reimbursement policy system.
- The U.K. is anticipated to lead the familial hypercholesterolemia market in Europe on the back of surging incidence of cardiovascular diseases.
- The presence of a large patient pool and increasing government initiatives in developing countries like China and India are providing lucrative opportunity for market growth.
- Rising prevalence of familial hypercholesterolemia diseases has pushed the adoption of statin therapy.
Familial Hypercholesterolemia Treatment Market – Key Driving Factors
- Increase in technological advancements in healthcare infrastructure, government initiatives, and raising awareness regarding cardiovascular diseases are encouraging growth of the intraoperative sensors market.
- Increasing spending on biological drugs like Fibrates, Niacin, and Ezetimibe is improving the growth familial hypercholesterolemia treatment market.
Familial Hypercholesterolemia Treatment Market – Key Restraints
- Stringent regulatory requirements for drug manufacturing and commercialization process will pose a challenge for market players.
- High cost of the diagnosis is a key restrain to the familial hypercholesterolemia treatment market.
- The side effects associated with prescribed drugs are expected to hamper the market demand.
- Less diagnosis rate in the region like the Middle East & Africa and Latin America acts as a restraining factor for the market growth.
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Key players operating in the familial hypercholesterolemia treatment market profiled by Fact.MR includes Hypercholesterolemia market AstraZeneca Plc., Amgen, Inc., CJ Healthcare, Aegerion Pharmaceuticals, Merck & Co., Esperion Therapeutics, Novartis AG and Pfizer, Eli Lilly and Company, Tekmira Pharmaceuticals Corporation, AbbVie, Inc. New drug launches along with strategic mergers & acquisition remains the core strategy for maintaining their lead in the market.
- Synta Pharmaceutical Corporation and Madrigal Pharmaceuticals entered into a collaboration for developing drugs for familial hypercholesterolemia, cardiovascular, and other diseases.
- Novartis AG announced its acquisition of The Medicines Company through Medusa Merger Corporation.
- In February 2020 Esperion Therapeutics Inc. announced the approval of its NEXLIZET, a therapy for heterozygous familial hypercholesterolemia treatment by the U.S. Food and Drug Administration (FDA) presenting a novel opportunity for increasing the demand in the market.
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More Insights on the Familial Hypercholesterolemia Treatment market:
In its latest report, Fact.MR offers an unbiased analysis of the familial hypercholesterolemia treatment market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of indication type (heterozygous familial hypercholesterolemia, homozygous familial hypercholesterolemia), route of administration (oral, injectable), distribution channel (institutional sales, hospitals, speciality clinics, research institutes)
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