Familial hypercholesterolemia is a hereditary disease caused because of increased levels of low-density lipoprotein (LDL) in the blood vessels. People suffering from familial hypercholesterolemia, are anticipated to be at a greater risk of developing cardiac disorders.
It is expected to expand the familial hypercholesterolemia treatment market in the coming years due to increase in diagnosis and treatment adoption rate. Hypercholesterolemia usually emerges from the grouping of environmental and genetic jeopardy factors. The genetic disorder leads to heterozygous familial hypercholesterolemia due to the presence of the mutated copy of the LDL receptor gene. The rise in adoption of combination therapy with the availability of high-level manufacturing technology has expanded the familial hypercholesterolemia treatment market.
COVID-19 Impact analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome corona virus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the familial hypercholesterolemia treatment market.
Top Impacting Factors
- Increase in utility of combination therapy with the availability of high-level manufacturing, government initiatives, lifestyle changes, and surge in number of drugs in the pipeline, are the factors that drive the growth of the familial hypercholesterolemia market.
- In addition, increase in healthcare expenditure; collaborations & partnerships between key players to facilitate drug development; rise in R&D activities to improve quality of drugs; launch of the novel developed drug in market; and technologically advanced diagnosis, are some factors, which boost the market growth for familial hypercholesterolemia.
- However, the high cost involved in the diagnosis, lack of experts for proper diagnosis of the disease, side effects associated with currently prescribed drugs, and strict regulatory requirements for drug manufacturing and commercialization process, hinder the market growth.
- Contrarily, favorable reimbursement and the evolution of online pharmacies and the rise in adoption of e-commerce activities in the familial hypercholesterolemia treatment market present new pathways in the industry.
Market Trends
New product launches to flourish the market
In February 2020, Esperion Therapeutics Inc. declared that NEXLIZET, statin therapy received the U.S Food and Drug Administration (FDA) approval for heterozygous familial hypercholesterolemia treatment.
In January 2020, Novartis AG declared its acquisition of The Medicines Company through Medusa Merger Corporation. The objective of this acquisition was to expand the product portfolio in the familial hypercholesterolemia therapeutic drugs segment.
In October 2020, Novartis International AG received approval from the European Medicines Agency (EMA) for the marketing of the drug Leqvio (inclisiran). It is a potential drug that is used in the treatment of adults suffering from hypercholesterolemia or mixed dyslipidemia.
Key Benefits of the Report
- This study presents the analytical depiction of the familial hypercholesterolemia treatment industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the familial hypercholesterolemia treatment market share.
- The current market is quantitatively analyzed to highlight the familial hypercholesterolemia treatment market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed familial hypercholesterolemia treatment market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the familial hypercholesterolemia treatment Report
- Which are the leading players active in the familial hypercholesterolemia treatment market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "Familial hypercholesterolemia treatment"?
- What is "Familial hypercholesterolemia treatment" Market prediction in the future?
- Who are the leading global players in the "Familial hypercholesterolemia treatment" Market?
- What are the current trends and predicted trends?
- What are the key benefits of the "Familial hypercholesterolemia treatment" Market report?
Familial Hypercholesterolemia Treatment Market Report Highlights
| Aspects | Details |
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 Key Market Players | Amgen Inc., Daiichi Sankyo Company Limited, AbbVie Inc., Novartis AG, Aegerion Pharmaceuticals, AstraZeneca Plc., Pfizer Inc., Sanofi S.A., Esperion Therapeutics, Merck Company |
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