Hypercholesterolemia Treatment Market Outlook (2022-2032)
The global hypercholesterolemia treatment market is anticipated to grow from a valuation of US$ 27 Bn in 2022 to US$ 34 Bn by the end of 2032, progressing at a CAGR of 2.3% through 2032.
Market Analysis
Hypercholesterolemia is a genetic disorder characterized by very high levels of cholesterol in the blood. Hypercholesterolemia, also termed dyslipidemia, is a form of hyperlipidemia and hyperlipoproteinemia in the body. The presence of low-density Lipoprotein Cholesterol (LDL-C) or bad cholesterol in the blood, may lead to cardiovascular diseases.
Hypercholesterolemia is caused due to a combination of genetic and environmental factors. Environmental factors include excessive diet intake and obesity. In the case of genetic factors, the number of copies of the gene determines the severity of the disease.
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People with the homozygous form (two copies of the gene) generally suffer from severe cardiovascular diseases during childhood, while those with the heterozygous form (with a single copy of the gene) suffer from heart diseases in their 30s or 40s.
Growing demographic economies in developing countries such as India and China are expected to offer good opportunities for the global hypercholesterolemia treatment market. Innovation of some new products with better efficiency is also expected to create good opportunities for the market.
What are the Growth Opportunities in the Hypercholesterolemia Treatment Market?
“Technological Advancements in Hypercholesterolemia Treatment Solutions”
At present, various technological advancements in the field of hypercholesterolemia treatment options are taking place around the world. These advanced facilities ensure the effective treatment of patients and thus stimulate the adoption of market services across the globe.
Rising awareness related to many cardiovascular diseases along with the availability of their respective treatment solutions is also likely to fuel growth avenues in the global hypercholesterolemia treatment market.
“Increased Cases of Distributed Cholesterol Levels in Blood”
One of the noticeable factors that are creating novel growth opportunities in the hypercholesterolemia treatment market is a rapid increase in the healthcare issues about disturbed cholesterol levels in human blood. Moreover, government initiatives, rising healthcare awareness, and improvement in reimbursement policies are serving as pivotal factors to bolster novel growth avenues in the global market in the coming years.
“High Cost of Treatment and Dearth of Skilled Personnel”
The amount invested by the global population to avail the solutions from the hypercholesterolemia treatment market is comparatively higher which is likely to limit the adoption of these services. Limited adoption of market services is expected to curtail expansion opportunities in the global market.
There is a lack of experienced professionals who are capable to diagnose the related disease and thus restrict growth opportunities in the market. In addition, a comparatively lesser rate of adoption of industry services by the global population is also estimated to restrict growth impetuses in the market.
Which Region Holds a Dominating Position in the Global Market?
“Increased Prevalence of Heart Diseases Driving North American Market”
The research report on the hypercholesterolemia treatment market has included six major regional areas, out of which North America is leading in the global industry. The dominance of the region is owing to the growing prevalence of heart diseases along with some related complications. In addition, technological advancements that are taking place in the field of hypercholesterolemia treatment are also driving growth avenues in the regional market.
East Asia and South Asia & Pacific regions are also predicted to grow at a significant speed in the global market in the coming years. India and China are likely to serve as the fastest-growing countries in these regional markets. The presence of a larger patient pool and increasing government initiatives in the form of strict laws and funding are estimated to contribute to growth opportunities in the market.
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Recent Industry Development
- Novartis AG, in January 2020, acquired Medicines Company from Medusa Merger Corporation to expand its product portfolio across the globe.
Market Strategies and Key Players
Rising number of mergers and acquisitions, new product launches, and increasing number of collaborations and partnerships are some of the latest trends that have been observed in the global hypercholesterolemia treatment market. Side effects associated with the intake of statins are a challenge for the market.
Some of the major companies operating in the hypercholesterolemia treatment market include
- AbbVie, Inc.
- Bristol-Myers Squibb Company
- Alnylam Pharmaceuticals Inc.
- Astrazeneca Plc
- Merck & Co., Inc.
- Pfizer, Inc.
- Amgen, Inc.
- Eli Lilly and Company
- GlaxoSmithKline plc
- Novartis AG
- Regeneron Pharmaceuticals Inc.
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