Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Hypertriglyceridemia is a common disorder or condition in which the triglyceride levels in the blood are elevated. The increasing levels of triglyceride are mainly related to atherosclerosis and cardiovascular diseases (CVDs). This condition also causes pancreatitis, atherosclerosis, and other CVDs. New advancements in terms of diagnosis and treatment of hypertriglyceridemia for rapidly recovering the triglyceride levels in the human body are expected to boost the global hypertriglyceridemia therapeutics market growth.
The key players are investing in research & development and commercialization of novel drugs for the treatment of hypertriglyceridemia, which is expected to boost the market growth during the forecast period. Moreover, the growing prevalence of cardiovascular diseases and increasing sedentary habits are other factors propelling the market growth. For instance, according to the World Health Organization (WHO), around 17.9 million deaths reported in 2016 were due to cardiovascular diseases which are the leading cause of death across the globe.
Global Hypertriglyceridemia Therapeutics Market - Impact of Coronavirus (Covid-19) Pandemic
The hypertriglyceridemia therapeutics market growth has been impacted significantly due to the outbreak of COVID-19 across the world. As per the EMCrit Project, COVID-19 affected patients are more prone to developing hypertriglyceridemia, mainly due to systemic inflammation. Thus, ideally keeping the propofol dosages can help to maintain sedation and prevent conditions such as hypertriglyceridemia. It is becoming difficult for researchers and key industry players to perform clinical trials during this pandemic crisis. However, many market players such as Eli Lilly and Company, and Pfizer Inc. are investing in research and development of novel hypertriglyceridemia drugs.
The all-inclusive version of the report will include the impact of COVID-19 and the probable changes in the future outlook of the industry, by taking into account the technological, social, political, and economical parameters.
The hypertriglyceridemia therapeutics market is estimated to be valued at US$ 9,716.6 million in 2020 and is expected to register a CAGR of 4.09% during the forecast period (2020-2027).
Figure 1. Global Hypertriglyceridemia Therapeutics Market Share (%) Analysis, By Type, 2020
The increasing research & development of drugs are expected to propel the global hypertriglyc eridemia therapeutics market growth during the forecast period
Key players are investing to in development of novel drugs and launching these products in the market which in turn, is estimated to significantly boost the market growth and create lucrative growth opportunities in the global hypertriglyceridemia therapeutics market during 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 is also indicated as an adjunct to diet for the treatment of adult patients with type III hyperlipoproteinemi and to other lipid-lowering treatments.
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 Report Coverage
||Market Size in 2019:
||US$ 9,716.6 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 12,863.1 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, Rest of Middle east
- Africa: South Africa, North Africa, and Central Africa
- 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.
Sanofi, GlaxoSmithKline Plc, Biocon, Novo Nordisk A/S, Tonghua Dongbao Pharmaceutical Co., Ltd., Oramed Pharmaceuticals, Inc, Merck & Co., Inc., Julphar, Eli Lilly and Company, Bristol-Myers Squibb Company, Pfizer Inc., Adocia, Hikma Pharmaceutical PLC, Lupin Ltd., AbbVie Inc., Wockhardt, Zydus Pharmaceuticals Inc., Glenmark, Amneal pharmaceutical LLC, Aurobindo Pharma, and Accord Healthcare.
- Growing prevalence of cardiovascular diseases
- Sedentary lifestyle
|Restraints & Challenges:
- High cost of the treatment
- Lack of medical care
Hypertriglyceridemia Therapeutics Market – Regional Analysis
North America accounted for majority of the share in the global hypertriglyceridemia therapeutics market in 2019 and is expected to retain its dominance during the forecast period. This is majorly attributed to the growing healthcare expenditure, FDA approvals, and product launches in the 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 received the U.S. Food and Drug Administration (FDA) approval for their ANDA (Abbreviated New Drug Application). Crestor tablets are used in combination with diet for treating hypertriglyceridemia in adults.
Moreover, the growing prevalence of obesity in the U.S. is projected to boost the growth of the regional market during the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC), the prevalence of obesity in the U.S. was 42.4% in 2017 and the rate is increasing at a rapid pace.
Furthermore, the market in Asia Pacific is expected to witness significant growth during the forecast period owing to drug approvals and surge in prevalence of cardiovascular diseases in the region. As per the Department of Nutrition and Health Sciences, cardiac problems account for seven out of every 10 deaths in Asian countries.
Figure 2. Global Hypertriglyceridemia Therapeutics Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027
Global Hypertriglyceridemia Therapeutics Market - Competitive Landscape
Key players operating in the global hypertriglyceridemia therapeutics market are Sanofi, GlaxoSmithKline Plc, Biocon, Novo Nordisk A/S, Tonghua Dongbao Pharmaceutical Co., Ltd., Oramed Pharmaceuticals, Inc, Merck & Co., Inc., Julphar, Eli Lilly and Company, Bristol-Myers Squibb Company, Pfizer Inc., Adocia, Hikma Pharmaceutical plc, Lupin Ltd., AbbVie Inc., Wockhardt Ltd., Zydus Pharmaceuticals, Glenmark Pharmaceuticals, Amneal pharmaceutical LLC, Aurobindo Pharma, and Accord Healthcare.