In fiscal year 2023, the managing heterozygous familial hypercholesterolemia (HEFH) management market is anticipated to be valued US$ 15.11 Billion, up from US$ 13.2 billion in fiscal year 2022. The worldwide market is anticipated to expand at a constant 14.5% CAGR from 2023 to 2033, reaching a value of US$ 58.54 Billion by the end of that year. High levels of cholesterol in the blood, which restrict blood flow and raise the risk of heart attack or stroke, leads on to a condition known as heterozygous familial hypercholesterolemia. Diabetes, polycystic ovarian syndrome, hypothyroidism, and renal disease are a few of the prevalent disorders that can cause hypercholesterolemia.
One of the main reasons influencing the growth of such a kind of hypercholesterolemia market’s revenue is the rise in the frequency of hypercholesterolemia brought on by an increase in the number of people living unhealthy lifestyles, which causes obesity. The aging population, the prevalence of cardiovascular disease, and several other chronic conditions including diabetes, renal troubles, and thyroid issues all enhance the risk of hypercholesterolemia, which boosts the market’s revenue in turn. The introduction of new drugs, increased research, and technological developments in the treatment of hypercholesterolemia all contribute to the market’s revenue expansion.
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However, the high cost of existing treatments, a variety of risk concerns related to the medications used to treat hypercholesterolemia, and a lack of diagnostic tools for the condition are the main issues limiting the market’s ability to grow in terms of revenue. Various government initiatives to raise awareness about the symptoms, cause, and available treatments for hypercholesterolemia, technological developments in the treatment of hypercholesterolemia, enhanced healthcare facilities, rising research and drug development for the treatment, and higher healthcare investments are expected to create profitable growth opportunities during the forecast period. Such developments are expected to spur growth.
Key Takeaways from the Market Study
- The global HEFH management market is currently worth more than US$ 13 Billion.
- In 2023, the ST-103 segment by product type is expected to take the dominant market share of 32%.
- Hospitals to account for over 1/5th of all HEFH management procedures as of 2023
- North America is expected to exhibit CAGR of 15.3% from 2023 to 2033, with regard to HEFH management
- The European market for HEFH management is expected to grow with a steady CAGR of 14% from 2023 to 2033
“The improvement of healthcare infrastructure, government initiatives to raise public awareness of the causes, symptoms, and treatments for hypercholesterolemia, improved research and drug development for the treatment, as well as increased healthcare investments will all contribute to the growth of the heterozygous familial hypercholesterolemia management market during the forecast period.” comments a Future Market Insights analyst.
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Competitive Landscape
Some of the top players in the global market are Sanofi SA, Amgen Inc., Novartis International AG, AdooQ Bioscience, Thermo Fisher Scientific, Universal Biologicals, Selleck Chemicals, Madrigal Pharmaceuticals, ShangHai Caerulum Pharma Discovery Co., Ltd. and Wuhan Biocar Pharmacy. Some recent developments in this domain are:
- NewAmsterdam Pharma, a clinical-stage business focusing on the discovery and development of transformational oral treatments for metabolic illnesses, said today that it has begun a Phase 2 dose-finding trial of obicetrapib as an addition to stable statin therapy among Japanese patients with dyslipidemia with BROOKLYN in 2022. In addition to maximally tolerated lipid-lowering treatment, the BROOKLYN Phase 3 study examines the impact of obicetrapib on LDL-C levels in individuals with heterozygous familial hypercholesterolemia.
More Insights:
North America is the largest familial hypercholesterolemia management market due to the high prevalence of the disorder in the region. The United States dominates the market in North America, with a large patient population and well-established healthcare infrastructure. The country has also approved several drugs for the treatment of FH, such as statins, bile acid sequestrants, and PCSK9 inhibitors.
Key Segments Covered in the Heterozygous Familial Hypercholesterolemia (HEFH) Management Market Report
By Product Type:
- Gemcabene Calcium
- MGL-3196
- ST-103
- Others
By Application:
- Hospitals
- Medical Centers
- Clinics
- Others
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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