Hypertriglyceridemia Therapeutics Market, By Type (Primary and Secondary), By Drug Class (Statins, Fibrates, Omega-3 Fatty Acids, HMG-CoA Reductase inhibitors, and Niacin), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, Online Pharmacy, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) -

Published In : Jul 2023

Code : CMI4020

Pages :230

Formats :

Excel and PDF

Industry : Pharmaceutical

Market Challenges And Opportunities

Global Hypertriglyceridemia Therapeutics Market: Restraints

High cost of the treatment

High cost of the treatment for the hyperlipidemia is expected to restrict the growth of global hypertriglyceridemia market over the forecast period. For instance, in February 2022, according to an article published by the Well Mark Inc., high cholesterol levels are linked to a higher risk of cardiovascular disease, diabetes, and high blood pressure. Heart disease is the leading cause of death in the U.S., and costs around US$ 207 billion annually in lost productivity and medical expenses. Moreover, according to the TalktoMira, Inc., an innovative healthcare company with a mission to bring affordable and immediate healthcare access, the average retail cost of statins used to treat moderate cases of high cholesterol is US$ 139.29 for generic medications and US $360.43 for brand-name statins. So, to avoid the high cost the use of omega-3-fatty acids as well as niacin can be preferred for the treatment.

Global Hypertriglyceridemia Therapeutics Market– Drivers

Increase in sedentary lifestyle

Increasing sedentary lifestyle is expected to drive the growth of global hypertriglyceridemia therapeutics market over the forecast period. For instance, in January 2022, according to the Forbes, 25% of U.S. adults are physically inactive according to the study released by the Centers for Disease Control and Prevention (CDC), Puerto Rico adults in U.S had the highest level of inactivity at 49.4%, with Colorado the lowest at 17.7%.

Increasing product approval by the key players

Increasing product approval by the market key players is expected to drive the global hypertriglyceridemia therapeutics market over the forecast period. For instance, in April 2020, Dr. Reddy’s Laboratories Ltd., an India-based multinational pharmaceutical, launched Fenofibrate Tablets United States Pharmacopeia, a therapeutic equivalent generic version of Tricor (fenofibrate) Tablets, approved by the U.S. Food and Drug Administration (USFDA). Dr. Reddy’s Fenofibrate Tablets USP are available in 54 mg doses in bottle count sizes of 90 and 160 mg doses in bottle count sizes of 90 and 500.