Homozygous Familial Hypercholesterolemia Market to Grow with a CAGR of 3.26% through 2028
Rising advancements in genetic research are expected
to drive the Global Homozygous Familial Hypercholesterolemia Market growth in
the forecast period, 2024-2028.
According to TechSci Research report, “Homozygous
Familial Hypercholesterolemia Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Homozygous
Familial Hypercholesterolemia Market stood at USD 76.42 Million in 2022 and is
anticipated to grow with a CAGR of 3.26% in the forecast period, 2024-2028. The
Global Homozygous Familial Hypercholesterolemia (HoFH) Market is witnessing a
surge in growth and development, driven by several key market drivers. One of the foremost drivers of the Global HoFH Market
is the remarkable progress in biotechnology and genetics. Over the past few
years, researchers have gained a deeper understanding of the genetic mutations
responsible for HoFH, paving the way for more precise diagnostic tools and
targeted therapies. This increased understanding of the genetic underpinnings
of HoFH has spurred the development of innovative treatments, such as gene
therapies and RNA-based therapies, that have the potential to correct the
genetic defects causing the disorder.
As awareness about HoFH grows, so does the demand for
effective treatments. While HoFH is considered a rare condition, it is
significantly underdiagnosed. As healthcare professionals become more informed
about the disorder and genetic testing becomes more accessible, the number of
diagnosed cases is expected to increase. This rise in prevalence, while
unfortunate for those affected, provides a strong impetus for pharmaceutical
companies to invest in research and development, ultimately driving market
growth. Regulatory bodies around the world have recognized the critical unmet
medical need in HoFH and have taken steps to support the development and
approval of new treatments. Expedited review processes and orphan drug
designations have been granted to several HoFH therapies, streamlining their
path to market. This favorable regulatory environment encourages pharmaceutical
companies to invest in HoFH research and development, knowing that their
efforts are more likely to result in marketable products.Globally, healthcare
expenditure is on the rise, driven by factors such as population growth, aging
demographics, and the need for advanced medical treatments. This increase in
healthcare spending has a direct impact on the Global HoFH Market, as it
provides greater financial resources for research, development, and access to
innovative therapies. Patients with HoFH often require lifelong medical
attention, making them a focus of healthcare expenditure in many countries.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Homozygous
Familial Hypercholesterolemia Market.”
Accurate and early diagnosis is crucial for HoFH
patients, as it allows for timely intervention and treatment. Recent
technological advancements in genetic testing and diagnostic tools have made it
easier to identify individuals with HoFH, even before they exhibit symptoms.
These advancements enable healthcare providers to initiate appropriate
treatment strategies promptly, improving patient outcomes and driving market
growth by emphasizing the importance of early intervention.
The Global Homozygous Familial Hypercholesterolemia Market
is segmented into Drug Class, Route of Administration, Technology, Distribution Channel, regional distribution, and
company.
Based on Drug Class, the Global Homozygous Familial
Hypercholesterolemia Market is segmented into Statins, Cholesterol Absorption
Inhibitors, PCSK9 Inhibitors, MTP Inhibitors, ANGPTL3 Inhibitors. Based on the Drug Class, the statins segment emerged
as the dominant segment in the global market for Global Homozygous Familial
Hypercholesterolemia Market in 2022. Statins have been used for decades to
lower LDL cholesterol levels in individuals with various forms of
hypercholesterolemia, including HoFH. Their well-established safety profile and
efficacy make them a standard choice for healthcare providers. Statins have consistently demonstrated their ability
to lower LDL cholesterol levels, which is a primary concern in HoFH patients
who have extremely high cholesterol. While they may not be sufficient as
standalone therapy for HoFH, Statins are often used in combination with other
treatments to achieve optimal results. Also, Statins are generally more
affordable than some of the newer and more specialized medications like PCSK9
inhibitors or ANGPTL3 inhibitors. This makes them a practical option,
especially in healthcare systems with budget constraints.
Based on Technology, the Global Homozygous Familial
Hypercholesterolemia Market is segmented into CRISPR-Cas9, RNA Interference,
Nanoparticle-Based Therapies.Based on the Technology, the RNA Interference
(RNAi) segment emerged as the dominant player in the global market for Global
Homozygous Familial Hypercholesterolemia Market in 2022. NAi technology allows for highly specific and
targeted gene silencing. In the context of HoFH, where the condition is caused
by specific genetic mutations leading to elevated LDL cholesterol, RNAi can be
used to selectively inhibit the expression of genes responsible for high
cholesterol levels. Moreover, CRISPR-Cas9 gene editing technology holds
tremendous potential for treating HoFH by directly targeting and correcting the
genetic mutations responsible for the condition. It allows for precise and
personalized interventions tailored to individual patients' genetic profiles.
Based on Distribution Channel, the Global Homozygous
Familial Hypercholesterolemia Market is segmented into Hospital Pharmacies,
Retail Pharmacies, Online Pharmacies. Based
on the Distribution Channel, the Hospital Pharmacies segment emerged as the
dominant player in the global market for Global Homozygous Familial
Hypercholesterolemia Market in 2022. HoFH is a rare and severe genetic disorder that
requires specialized medical attention. Patients with HoFH may receive treatment
and monitoring in hospital settings, making hospital pharmacies a natural
source for medications. Hospitals typically have specialized healthcare teams,
including cardiologists, geneticists, and lipid specialists, who are
well-equipped to diagnose and manage HoFH. These professionals may prescribe
and dispense medications directly from hospital pharmacies.
North America emerged as the dominant player in the
global Homozygous Familial Hypercholesterolemia Market in 2022, holding the largest market share.
North America has been a leader in medical research and innovation. Leading
pharmaceutical and biotechnology companies, as well as academic institutions,
are located in the region. This environment fosters the development of novel
therapies and treatment options for HoFH.
The
United States, in particular, has one of the highest healthcare expenditures
globally. This substantial healthcare spending facilitates research, clinical
trials, and the adoption of cutting-edge therapies and technologies, potentially
benefiting HoFH patients.
Major companies operating in Global Homozygous
Familial Hypercholesterolemia Market are:
- AstraZeneca PLC
- Viatris Inc.
- Teva Pharmaceutical Industries Ltd.
- Accord Healthcare
- Changzhou Pharmaceutical Factory
- Regeneron Pharmaceuticals, Inc.
- Amryt Pharma plc
- Amgen Inc.
- Organon Global Inc.
- CMP Pharma
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“The global
Homozygous Familial Hypercholesterolemia (HoFH) market is poised for
significant growth in the coming years, driven by several key factors. Firstly,
advancements in genetic research and personalized medicine are leading to the
development of innovative, gene-targeted therapies for HoFH, offering new hope
for patients. Additionally, the rising awareness about the condition, coupled
with improved diagnostic tools, is expected to lead to higher rates of HoFH
diagnosis and treatment initiation. The globalization of clinical trials and
collaborative efforts among stakeholders are accelerating the development and
approval of novel HoFH treatments. Moreover, supportive regulatory environments
and orphan drug designations are encouraging pharmaceutical companies to invest
in HoFH research. With the emergence of cutting-edge technologies and a growing
emphasis on patient-centric care, the HoFH market is poised to expand, offering
improved management and quality of life for individuals affected by this rare
and severe genetic disorder.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Homozygous Familial Hypercholesterolemia
Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028 Segmented By Drug Class (Statins,
Cholesterol Absorption Inhibitors, PCSK9 Inhibitors, MTP Inhibitors, ANGPTL3
Inhibitors), By Route of Administration (Oral, Parenteral, Nasal), By
Technology (CRISPR-Cas9, RNA Interference, Nanoparticle-Based Therapies), By
Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online
Pharmacies) By Region and Competition”, has evaluated the future growth potential of Global
Homozygous Familial Hypercholesterolemia Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in Global Homozygous Familial Hypercholesterolemia Market.
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