Heterozygous Familial Hypercholesterolemia (HEFH) Management Market value is expected to reach US$ 58.54 Billion by 2033
The market for managing heterozygous familial hypercholesterolemia (HEFH) management is expected to reach a value of US$ 15.11 billion in fiscal year 2023, up from US$ 13.2 billion in 2022. The market is predicted to grow at a steady CAGR of 14.5% from 2023 to 2033, with an estimated value of US$ 58.54 billion by the end of that year. Heterozygous familial hypercholesterolemia is caused by high levels of cholesterol in the blood, which can lead to restricted blood flow and increase the risk of heart attack or stroke. Various disorders such as diabetes, hypothyroidism, polycystic ovarian syndrome, and renal disease can contribute to hypercholesterolemia.
The growth of the hypercholesterolemia market is driven by several factors, including an increase in the number of people with unhealthy lifestyles leading to hypercholesterolemia, as well as the prevalence of chronic conditions such as cardiovascular disease, diabetes, and thyroid issues that increase the risk of hypercholesterolemia. The introduction of new drugs, advancements in research, and technological improvements in the treatment of hypercholesterolemia also contribute to the market’s growth.
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However, the market faces several challenges, such as the high cost of existing treatments, risk concerns associated with medications used to treat hypercholesterolemia, and a lack of diagnostic tools for the condition. Despite these obstacles, various government initiatives to raise awareness about hypercholesterolemia, advancements in healthcare facilities and drug development, and increased healthcare investments are expected to create profitable growth opportunities for the market during the forecast period. Overall, these developments are expected to drive growth in the hypercholesterolemia market.
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 Available
North America and Europe are expected to maintain their dominance in the Heterozygous Familial Hypercholesterolemia market due to their high healthcare spending and the availability of advanced healthcare infrastructure. However, Asia-Pacific is expected to witness the highest growth rate due to the rising prevalence of hypercholesterolemia, increasing disposable income, and the availability of advanced diagnostic and treatment options.
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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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