In a remarkable achievement, the Global Heterozygous Familial Hypercholesterolemia (HEFH) Management Industry is poised to reach new heights, projecting a valuation of US$ 15.11 billion in fiscal year 2023, a significant increase from US$ 13.2 billion in fiscal year 2022.
The market’s upward trajectory is further substantiated by a forecasted consistent compound annual growth rate (CAGR) of 14.5% from 2023 to 2033. Industry analysts predict that this robust growth will propel the market to an impressive US$ 58.54 billion by the end of 2033.
Heterozygous Familial Hypercholesterolemia, a condition characterized by elevated levels of cholesterol in the blood, poses a significant health risk by impeding blood flow and increasing the likelihood of heart attacks or strokes. The pressing need for effective management of this condition has fueled the surge in the global HEFH Management Market.
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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 Global Heterozygous Familial Hypercholesterolemia (HEFH) Management Industry 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 1/5thof all HEFH management procedures as of 2023
- North America is expected to exhibit a CAGR of 15.3% from 2023 to 2033, about 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 anacetrapib 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 anacetrapib 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 Global Heterozygous Familial Hypercholesterolemia (HEFH) Management Industry Report
By Product Type:
- Gemcabene Calcium
- MGL-3196
- ST-103
- Others
By Application:
- Hospitals
- Medical Centers
- Clinics
- Others
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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