Press Release

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.

 

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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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