Severe Hypertriglyceridemia Market
Number of pages: 100 | Report Format: PDF | Published date: April 20, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 2.88 Billion |
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Revenue Forecast in 2031 |
US$ 3.68 Billion |
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CAGR |
8.26% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Drug Class, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global severe hypertriglyceridemia market was valued at US$ 2.88 billion in 2022 and is expected to register a revenue CAGR of 8.26% to reach US$ 3.68 billion by 2031.
Severe Hypertriglyceridemia Market Fundamentals
Hypertriglyceridemia is a medical condition in which a person has high levels of triglycerides in their blood, usually defined as levels above 150 mg/dL. Severe hypertriglyceridemia is a more severe form of this condition, in which a person has very high levels of triglycerides in their blood, typically over 500 mg/dL. Severe hypertriglyceridemia can increase the risk of heart disease, pancreatitis, and other health problems. It may be caused by various factors, including genetic predisposition, certain medications, poorly controlled diabetes, excessive alcohol consumption, and a diet high in simple sugars and fats. Treatment for severe hypertriglyceridemia typically involves lifestyle changes, medications, and sometimes, surgery. The most commonly used medications for severe hypertriglyceridemia are fibrates and omega-3 fatty acid supplements. Fibrates work by reducing the production of triglycerides in the liver, while omega-3 fatty acids can reduce the levels of triglycerides in the blood. Doctors can prescribe statins, commonly used to lower cholesterol levels, as they may also help lower triglyceride levels. The goal of treatment is to reduce the levels of triglycerides in the blood and lower the risk of associated health complications. Treatment may vary depending on the individual's specific situation, such as the severity of their hypertriglyceridemia, underlying medical conditions, and other factors.
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Severe Hypertriglyceridemia Market Dynamics
The incidence and prevalence of severe hypertriglyceridemia are increasing worldwide due to changes in lifestyle, such as unhealthy diets, lack of exercise, and obesity. There is a growing focus on the development of new therapies for the treatment of severe hypertriglyceridemia. Pharmaceutical companies are investing in research and development to bring novel therapies to the market. Combination therapies that target multiple pathways involved in regulating lipid metabolism are gaining popularity in treating severe hypertriglyceridemia. This approach has the potential to provide better efficacy and reduce side effects. The demand for lipid-lowering drugs such as omega-3 fatty acid supplements, fibrates, and statins is increasing due to the rising prevalence of severe hypertriglyceridemia and related conditions such as cardiovascular disease. Technological advancements, such as developing new diagnostic tools, are enabling early detection and diagnosis of severe hypertriglyceridemia. This is expected to increase the demand for treatments and improve patient outcomes. Increasing healthcare expenditure by governments and private organizations is driving the revenue growth of the severe hypertriglyceridemia treatment market. This is expected to result in the development of more effective therapies and better patient care.
However, the severe hypertriglyceridemia treatment market is highly competitive, with numerous established and emerging players offering a range of treatments. Market players must comply with strict regulatory requirements to develop and approve new treatments for severe hypertriglyceridemia. This can be a lengthy and costly process. The mechanisms that lead to severe hypertriglyceridemia are not fully understood, making the development of effective treatments challenging. Some lipid-lowering medications used to treat severe hypertriglyceridemia may cause side effects, limiting patient compliance and affecting the market uptake of new treatments. The cost of treating severe hypertriglyceridemia can be high, limiting patient access to treatments and affecting the market uptake of new therapies. The lack of accurate and reliable diagnostic tools for severe hypertriglyceridemia can make identifying and treating patients with the condition challenging.
Severe Hypertriglyceridemia Market Ecosystem
The global severe hypertriglyceridemia market is analyzed from three perspectives: drug class, distribution channel, and region.
Severe Hypertriglyceridemia Market by Drug Class
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Based on treatment, the global severe hypertriglyceridemia market is segmented into fibrates, statins, niacin, omega-3 fatty acids, and others.
Fibrates dominate the severe hypertriglyceridemia treatment market in terms of large revenue share for several reasons. These are highly effective at lowering triglyceride levels in the blood, which is the primary goal of treatment for severe hypertriglyceridemia. Fibrates work by activating PPAR-alpha in the liver, which leads to increased breakdown and clearance of triglycerides from the blood. Fibrates have been used for many years to treat severe hypertriglyceridemia and have a well-established safety profile. These fibrates are available in generic formulations, which makes them more affordable than newer, brand-name drugs that may be used to treat severe hypertriglyceridemia. Several drugs from the fibrate class are used for treating severe hypertriglyceridemia. Some of the commonly used fibrates for this purpose include Fenofibrate (brand names include Tricor, Lipofen, and Fenoglide), Gemfibrozil (brand name Lopid), and Bezafibrate (brand names include Bezalip and Cedur). These drugs work by activating peroxisome proliferator-activated receptor alpha (PPAR-alpha) in the liver, which leads to increased breakdown and clearance of triglycerides from the blood. They can be used alone or with other lipid-lowering drugs such as statins or omega-3 fatty acids. However, the fibrates can have side effects, such as gastrointestinal upset, liver function abnormalities, and muscle pain or weakness, and they can interact with other medications.
Statins are a class of drugs primarily used to lower cholesterol levels in the blood. These drugs have also been shown to have a beneficial effect on reducing triglyceride levels, particularly in patients with severe hypertriglyceridemia. This has made statins an important treatment option for this condition, and as a result, they account for a significant revenue share in the severe hypertriglyceridemia treatment market. Statins work by inhibiting an enzyme called HMG-CoA reductase, which plays a key role in the production of cholesterol in the liver. By reducing cholesterol production, statins indirectly reduce the production of triglycerides, leading to a decrease in their levels in the blood. Statins are primarily used for lowering cholesterol levels in the blood, yet they can also be used to reduce triglyceride levels, particularly in patients with severe hypertriglyceridemia. Some statin drugs used to treat severe hypertriglyceridemia include Atorvastatin, Simvastatin, Rosuvastatin, Pravastatin, and Lovastatin. These drugs work by inhibiting the production of cholesterol in the liver, indirectly leading to a reduction in triglyceride levels in the blood.
Similarly, omega-3 fatty acids are estimated to show lucrative revenue growth during the predicted timeframe. Omega-3 fatty acids are a type of polyunsaturated fat that has been shown to have beneficial effects on lipid levels, including reduced triglyceride levels. Several omega-3 fatty acids, including eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), are found in fatty fish and fish oil supplements. Prescription omega-3 fatty acid medications, such as Lovaza and Vascepa, have also been developed to treat severe hypertriglyceridemia. In addition to their lipid-lowering effects, omega-3 fatty acids have also been shown to have other potential health benefits, including anti-inflammatory and anti-arrhythmic effects. This has contributed to their popularity as a treatment option for severe hypertriglyceridemia and their significant revenue share in the severe hypertriglyceridemia treatment market. Omega-3 fatty acids are primarily found in fatty fish and fish oil supplements. However, prescription omega-3 fatty acid medications have also been developed to treat severe hypertriglyceridemia. Lovaza is a prescription omega-3 fatty acid medication with a high omega-3 fatty acids EPA and DHA concentration. It is indicated for the treatment of severe hypertriglyceridemia in adults. Vascepa is another prescription omega-3 fatty acid medication with a high EPA concentration. It is also indicated for the treatment of severe hypertriglyceridemia in adults. However, these medications can have potential side effects and may interact with other medications.
Severe Hypertriglyceridemia Market by Distribution Channel
Based on the distribution channel, the global severe hypertriglyceridemia market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacies segment registered for the largest revenue shares in the global severe hypertriglyceridemia treatment market in 2022. Patients with severe hypertriglyceridemia also require urgent or emergent treatment, often in hospital settings. Hospital pharmacies are the primary medication providers in these cases and play a critical role in treating these patients. Medications used to treat severe hypertriglyceridemia, such as prescription omega-3 fatty acid medications, are often specialized and may not be widely available outside hospital settings. Hospital pharmacies are more likely to have access to these specialized medications and may therefore be the primary providers to patients with severe hypertriglyceridemia. Hospital pharmacies often work closely with other healthcare providers, such as physicians and nurses, to ensure patients receive appropriate and effective treatment. Thus, all these factors encourage the revenue growth of the hospital pharmacies segment.
Severe Hypertriglyceridemia Market by Region
Based on the region, the global severe hypertriglyceridemia market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Hypertriglyceridemia is a common condition in North America, with a significant proportion of the population affected. This high prevalence creates a large patient pool that demands severe treatment. North hypertriglyceridemia America has one of the highest healthcare spending levels in the world. This high level of spending supports the development and distribution of advanced medical treatments, including those for severe hypertriglyceridemia. North America has a favorable regulatory environment for the development and distribution of medications. For example, the U.S. Food and Drug Administration (FDA) has a well-established regulatory framework for approving and marketing medications, which helps ensure the safety and effectiveness of severe hypertriglyceridemia treatments.
Severe Hypertriglyceridemia Market Competitive Landscape
The prominent players operating in the global severe hypertriglyceridemia market are:
Severe Hypertriglyceridemia Market Strategic Development
Hypertriglyceridemia is a common condition characterized by high levels of triglycerides, a type of fat, in the bloodstream. Individuals with severe hypertriglyceridemia (SHTG) have more than three times the normal triglyceride levels.
The Fibrates segment dominates the global severe hypertriglyceridemia market with the largest revenue share.
The global severe hypertriglyceridemia market is expected to register a revenue CAGR of 8.26% during the forecast period.
Europe accounts for the second largest revenue share in the global severe hypertriglyceridemia market.
Pfizer Inc., Novartis AG, Ionis Pharmaceuticals Inc., and Merck & Co. Inc. are the key market players operating in the global severe hypertriglyceridemia market.
*Insights on financial performance are subject to the availability of information in the public domain