Hypertriglyceridemia Therapeutics Market Value to Worth Over US$ 12 Billion at 4.09% CAGR Growth Rate by 2027
SEATTLE, April 29, 2021, (PHARMIWEB) — Overview
Triglyceride levels in the blood are elevated in hypertriglyceridemia, a common disease or illness. Increased triglyceride levels are primarily linked to atherosclerosis and cardiovascular disorders (CVDs). Pancreatitis, atherosclerosis, and other CVDs are also caused by this disease. The global hypertriglyceridemia therapeutics market is expected to witness growth due to new advances in the diagnosis and treatment of hypertriglyceridemia for rapidly restoring triglyceride levels in the human body.
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The main players are investing in R&D and commercialization of new drugs for the treatment of hypertriglyceridemia, which is expected to pose demand growth over the forecast period. Moreover, the increasing incidences of cardiovascular diseases and the rise in sedentary behavior, are also expected to drive growth of the global hypertriglyceridemia therapeutics market. For instance, according to the World Health Organization (WHO), over 17.9 million deaths were registered in 2016 as a result of cardiovascular diseases, which are the leading cause of death worldwide.
Impact of Coronavirus (Covid-19) Pandemic
The global epidemic of COVID-19 has had a major effect on the expansion of the hypertriglyceridemia therapeutics market. COVID-19 patients are more likely to experience hypertriglyceridemia, according to the EMCrit Project, owing to systemic inflammation. Although, maintaining propofol dosages is optimal for maintaining sedation and avoiding disorders like hypertriglyceridemia. Clinical studies are becoming extremely difficult for academics and key market actors to undertake during this pandemic crisis. Many market players, such as Eli Lilly and Company and Pfizer Inc., are investing in hypertriglyceridemia drug research and development.
The report’s comprehensive edition would include the effects of COVID-19 as well as possible improvements in the industry’s future outlook, taking into account technical, societal, political, and economic factors.
The hypertriglyceridemia therapeutics market is expected to be accounted over US$ 9,716.6 million in 2020 and is estimated to exhibit a CAGR around 4.09% over the forecast period (2020-2027).
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Rising initiatives towards research & development of drugs are expected to drive the global hypertriglyceridemia therapeutics market growth over the forecast period.
Key players are investing in the production of new drugs and releasing them to the consumer, which is expected to drive growth of the global hypertriglyceridemia therapeutics market and generate attractive growth prospects in the global hypertriglyceridemia therapeutics market over the forecast period. For instance, in July 2019, Sun Pharma launched ‘Ezallor Sprinkle’ (Rosuvastatin) in the U.S. for the people having difficulty swallowing. Ezallor Sprinkle capsules are indicated as an adjunct to the diet for the hypertriglyceridemia adult patient’s treatment. It’s also used as a supplement to diet and other lipid-lowering medications for adult patients with type III hyperlipoproteinemia.
Furthermore, the increasing number of drug approvals are expected to help companies strengthen their market position. For instance, in December 2019, Amarin received FDA approval for VASCEPA (icosapent ethyl) indicated for reducing cardiovascular risk. The novel indication for VASCEPA is that it is an adjunct to diet to reduce triglyceride levels in older patients with severe hypertriglyceridemia.
Hypertriglyceridemia Therapeutics Market – Regional Analysis
North America was held a significant position the global hypertriglyceridemia therapeutics market in 2019, and this domination is expected to continue over the forecast period. The rising healthcare spending, FDA approvals, and product releases in the hypertriglyceridemia therapeutics market are expected to drive growth of the global hypertriglyceridemia therapeutics market. For instance, in July 2016, Mylan launched Rosuvastatin Calcium Tablets in the U.S., which are the generic version of Crestor (AstraZeneca’s tablet). The company’s ANDA (Abbreviated New Drug Application) was approved by the US Food and Drug Administration (FDA). Crestor tablets are used to treat hypertriglyceridemia in adults in conjunction with a healthy diet.
Furthermore, the increasing incidences of obesity in the U.S. is expected to drive growth in this region hypertriglyceridemia therapeutics market over the projected period. For instance, Obesity prevalence in the U.S. was around 42.4 percent in 2017, according to the Centers for Disease Control and Prevention (CDC), and the figure is rapidly growing.
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Moreover, Asia Pacific is expected to witness a significant growth over the forecast period in the global hypertriglyceridemia therapeutics market due to drug approvals and an increase in the prevalence of cardiovascular diseases in the region. For instance, according to the Department of Nutrition and Health Sciences, cardiac problems account for seven out of every 10 deaths in Asian countries.
- By Type: Primary, Secondary.
- By Drug Class: Statins, Fibrates, Niacin, Omega-3 Fatty Acids, HMG-CoA Reductase inhibitors.
- By Distribution Channel: Online Pharmacy, Retail Pharmacy, Hospital Pharmacy, Others.
Major players are dominating in the global hypertriglyceridemia therapeutics market such as Novo Nordisk A/S, Sanofi, Biocon, GlaxoSmithKline Plc, Oramed Pharmaceuticals, Inc., Merck & Co., Inc., Tonghua Dongbao Pharmaceutical Co., Ltd., Julphar, Eli Lilly and Company, Aurobindo Pharma, Adocia, Bristol-Myers Squibb Company, Pfizer Inc., AbbVie Inc., Hikma Pharmaceutical PLC, Lupin Ltd., Accord Healthcare, Wockhardt, Glenmark, Zydus Pharmaceuticals Inc. and Amneal pharmaceutical LLC.About Us:
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