Global 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) is estimated to be valued at US$ 11.06 Billion in 2023 and is expected to exhibit a CAGR of 5.0% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focused on adopting growth strategies such as product launch as well as partnerships, which will drive the global hypertriglyceridemia therapeutics market during the forecast period. For instance, in December 2021, Novartis AG, a healthcare company that focuses on the discovery, development, manufacture and marketing of prescription and generic pharmaceutical products, announced the U.S Food and Drug Administration (FDA) approval of Leqvio (inclisiran), the first and only small interfering RNA (ribonucleic acid) (siRNA) therapy to lower low-density lipoprotein cholesterol (also known as bad cholesterol or LDL-C) with two doses a year, after an initial dose and one at three months.
Global Hypertriglyceridemia Therapeutics Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global hypertriglyceridemia therapeutics market owing to the decrease in the supply chain of distribution of drugs due to lockdown. Approximately 30%-60% of the population is affected by dyslipidemia, making it one of the most prevalent conditions in healthy people. Thus, it is potentially one of the most common comorbidities in patients with COVID-19. For instance, in March 2021, according to an article published in the Journal of Clinical Medicine Insights: Endocrinology and Diabetes, the obese individuals are at a higher risk of developing dyslipidemia, insulin resistance, diabetes mellitus, hypertension, (cardiovascular diseases) CVD, and cerebrovascular disease, which are well-known predictor of poor prognosis in COVID-19 patients and dyslipidemia potentially increases mortality and severity of COVID-19. The association was stronger in patients with older age, male, and hypertension.
Global Hypertriglyceridemia Therapeutics Market: Key Developments
On June 01 2023, Amarin Pharmaceuticals Ireland Limited, a cardiovascular health pharmaceutical company, announced that its commercial partner in China, EddingPharm, a specialty pharmaceuticals company focused on clinical nutrition, oncology, antibiotics, and respiratory system therapeutics, had received regulatory approval for VASCEPA (icosapent ethyl) from China’s National Medical Products Administration (NMPA). NMPA granted approval for VASCEPA as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia (≥500 mg/dL).
In November 2021, Ionis Pharmaceuticals, a biotechnology company that specializes in discovering and developing RNA-targeted therapeutics, announced the initiation of CORE, the second Phase 3 clinical study of olezarsen, formerly known as IONIS-APOCIII-LRx. The CORE study is evaluating olezarsen in people with severe hypertriglyceridemia (triglyceride levels ≥ 500 mg/dL). Severe hypertriglyceridemia is a life-threatening condition associated with high levels of apoC-III and chylomicronemia, which lead to higher rates of acute pancreatitis, higher risk of cardiovascular disease, and has a high morbidity rate. Olezarsen is an investigational antisense medicine that uses Ionis' LIgand-Conjugated Antisense, (LICA), and technology. It is designed to inhibit the production of apoC-III for patients who are at risk for cardiometabolic disease and acute pancreatitis due to elevated triglyceride levels.
In June 2021, Dr. Reddy’s Laboratories Ltd., an India-based multinational pharmaceutical company announced the launch of Icosapent Ethyl Capsules, 1 gram approved by the U.S. Food and Drug Administration (USFDA). Dr. Reddy’s Laboratories Ltd., Icosapent Ethyl Capsules, 1 gram is approved for the following indication: as an adjunct to diet to reduce triglyceride (TG) levels in adult patients with severe (≥ 500 mg/dL) hypertriglyceridemia.
Browse 32 Market Data Tables and 26 Figures spread through 230 Pages and in-depth TOC on “Global Hypertriglyceridemia Therapeutics Market”- Forecast to 2030, Global 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)
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https://www.coherentmarketinsights.com/market-insight/hypertriglyceridemia-therapeutics-market-4020
Key Takeaways of the Global Hypertriglyceridemia Therapeutics Market:
- The global hypertriglyceridemia therapeutics market is expected to exhibit a CAGR of 5% during the forecast period. Product launch by research and development by the key players is expected to propel the growth of market over the forecast period. For instance, in November 2021, Ionis Pharmaceuticals, Inc., a biotechnology company, announced the initiation of CORE, the second Phase 3 clinical study of olezarsen, formerly known as IONIS-APOCIII-LRx. The CORE study is evaluating olezarsen in people with severe hypertriglyceridemia (triglyceride levels ≥ 500 mg/dL). Severe hypertriglyceridemia is a life-threatening condition associated with high levels of apoC-III and chylomicronemia, which lead to higher rates of acute pancreatitis, higher risk of cardiovascular disease, and has a high morbidity rate.
- Among Drug Class, the statins segment is expected to growth in the global hypertriglyceridemia therapeutics market over the forecast period due to the fact that they reduce the body's production of cholesterol and the higher risk of heart attack or stroke, there is such a high demand for them. For instance, on May 15 2023, according to the Centers for Disease Control and Prevention (CDC), estimated that roughly 805,000 Americans get a heart attack each year. 605,000 of these include a first heart attack, 200,000 involve people who have already had one, and roughly 1 in 5 heart attacks are silent, meaning the harm has already been done but the victim is unaware of it.
- Among Type, the secondary segment is expected to hold a dominant position in the global hypertriglyceridemia therapeutics market during the forecast period and this is attributed due to the unhealthy lifestyle factors and acquired medical conditions, including underlying diseases and applied drugs. So, key players are focusing on strategies such as product launch for the global hypertriglyceridemia therapeutics market growth. For instance, in August 2022, 89bio, Inc., a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases, announced the presentation of data from ENTRIGUE, its Phase 2 proof-of-concept trial of pegozafermin in severe hypertriglyceridemia (SHTG) at the European Society of Cardiology (ESC) Congress 2022. The Phase 2 trial, ENTRIGUE, met its primary endpoint of statistically significant reductions in median TGs from baseline in patients across all dose groups treated with pegozafermin compared to placebo after 8 weeks. Significant reductions in (Triglycerides) TGs were observed consistently across all prespecified patient subgroups. The trial also met a variety of secondary endpoints, including improvements in atherogenic lipoproteins, metabolic measures, and liver fat.
- Major players operating in the global hypertriglyceridemia therapeutics market include Sanofi, GSK, plc., Biocon, Novo Nordisk A/S, Tonghua Dongbao Pharmaceutical Co., Ltd., Oramed, AbbVie Inc., Merck & Co., Inc. WOCKHARDT, Pfizer Inc., Julphar, Eli Lilly and Company, Bristol-Myers Squibb Company, ADOCIA, Hikma Pharmaceuticals PLC, Lupin, Zydus Pharmaceuticals, Inc., Glenmark Pharmaceuticals Ltd., Amneal Pharmaceuticals LLC., Aurobindo Pharma, and Accord Healthcare.
