Global Hypertriglyceridemia Therapeutics Market 2022-2028

Global Hypertriglyceridemia Therapeutics Market 2022-2028

Global Hypertriglyceridemia Market Size, Share, & Analysis by Type (Statins, ), by Network Type (Metro and Long Haul), and by End-User (Telecom, Oil and Gas, BFSI, Medical, Railway, and Other) Forecast Period (2022-2028)

The global hypertriglyceridemia therapeutics market is growing at a CAGR of 4.3% during the forecast period. The market size was nearly $10.0 billion in 2021, which is estimated to reach $13.3 billion in 2028. The market is primarily driven by the growing prevalence of hypertriglyceridemia across the globe. Uncontrolled diabetes mellitus, obesity, and sedentary habits are leading factors that have increased the prevalence of hypertriglyceridemia. A high prevalence of hypertriglyceridemia can increase the risk of atherosclerosis and related heart diseases. Hypertriglyceridemia is classified into two categories- mild to moderate (fasting or non-fasting triglycerides 150-499 MG/DL) and severe hypertriglyceridemia. Individuals with severe hypertriglyceridemia face an increased risk of acute pancreatitis. Hypertriglyceridemia means a high level of triglycerides (fats) in the blood. It is very common in the US; about 1 in 5 adults in the US have elevated triglyceride levels (above 150 mg/dL).

Among developed economies, the US has the highest prevalence of hypertriglyceridemia. Total prevalent cases in the US were 67.7 million in 2021, followed by Japan with 28.4 million. The high obesity rate and the growing elderly population have been contributing to the high prevalence of hypertriglyceridemia in these economies. In emerging markets, China holds the highest spot in total prevalent cases of hypertriglyceridemia. In 2021, the total number of prevalent cases in China were nearly 395 million represents 28.0% of population.

Combination drugs (Statins and fish oil) are considered among the most prominent therapeutics for hypertriglyceridemia. In treating hypertriglyceridemia, omega-3 fatty acids with EPA and DHA or EPA only have been deemed similarly effective and safe in lowering triglycerides. They do not elevate low-density lipoprotein cholesterol when used alone or paired with a statin. Owing to this, the demand for omega-3 prescribed drugs such as Omacor is increasing across the globe. The market size for omega-3 for hypertriglyceridemia was $1.1 billion in 2021 and is estimated to reach $1.5 billion in 2028, growing at a significant CAGR of 5.5% during the forecast period. Furthermore, several studies are in the clinical trial phase to determine the effectiveness of combination drugs. For instance, Amarin Pharma’s AMR101 (icosapent ethyl [ethyl-EPA]) is in Phase 3 for the treatment of cardiovascular disease in statin-treated patients with hypertriglyceridemia. The purpose of this study is to evaluate whether this drug, combined with statin therapy, will be superior to statin therapy alone when used as a prevention measure in reducing long-term cardiovascular events in high-risk patients with mixed dyslipidemia.

The global hypertriglyceridemia therapeutics market is further segmented based on geography, including North America (the US and Canada), Europe (the UK, Germany, France, Italy, Spain, and others), Asia-Pacific (India, China, Japan, and others), and the rest of the world (the Middle East and Africa, and Latin America). North America dominated the global market with a share of 43.3% in 2021. The market size in North America was $4.3 billion in 2021 and is estimated to reach $5.8 billion in 2028, growing at a CAGR of 4.3% during the forecast period, attributed to an increase in the number of adults suffering from hypertriglyceridemia. In addition, the rise in healthcare expenditure, continuous research and development, clinical studies, and an increase in the incidence of lifestyle diseases also boost the growth of the market in North America. Asia-Pacific is an emerging market due to the increase in the incidence of obesity and cardiovascular diseases and changes in healthcare regulatory policies. Attributed to these factors, the market size in Asia-Pacific was $2.2 billion in 2021 and is estimated to reach $3.1 billion in 2028, growing at the highest CAGR of 5.4% during the forecast period.

Major players operating in the global hypertriglyceridemia therapeutics market include Abbott Laboratories, AstraZeneca PLC, Pfizer, Inc., Novartis AG, Mylan N.V., Merck & Co., Inc., Lannett Company, Inc., Mitsubishi Tanabe Pharma, and Teva Pharmaceutical Industries Ltd., among others. Key players are focused on the development of novel drugs and launching these products into the market, which in turn creates lucrative growth opportunities in the global hypertriglyceridemia therapeutics market.

Recent Developments

● In April 2021, Dr. Reddy’s Laboratories Ltd. launched Fenofibrate Tablets USP, a therapeutic equivalent generic version of Tricor (fenofibrate) Tablets, approved by the US 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.