The global severe hypertriglyceridemia (SHTG) treatment market garnered a market value of USD 615 Million in 2022 and is expected to accumulate a market value of USD 2675.37 Million by registering a CAGR of 14.3% in the forecast period 2023 to 2033.
Growth of the severe hypertriglyceridemia (SHTG) treatment market can be attributed to increasing prevalence of SHTG along with technological advancements for manufacturing medications for the ailment. The market for severe hypertriglyceridemia (SHTG) treatment registered a CAGR of 8% in the historical period 2018 to 2022
Severe Hypertriglyceridemia (SHTG) is a medical condition characterized by abnormally high levels of triglycerides in the blood, which can lead to the development of cardiovascular diseases. SHTG is a serious condition that requires prompt treatment to reduce the risk of cardiovascular events such as heart attacks and strokes.
Severe Hypertriglyceridemia (SHTG) Treatment Market refers to the market for pharmaceutical drugs, medical devices, and other products used in the treatment of Severe Hypertriglyceridemia (SHTG).
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 702.95 Million |
| Anticipated Forecast Value (2033) | USD 2675.37 Million |
| Projected Growth Rate (2023 to 2033) | 14.3% CAGR |
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According to market research and competitive intelligence provider Future Market Insights- the market for Severe hypertriglyceridemia (SHTG) treatment reflected a value of 14.3% during the historical period, 2018 to 2022.
The market for SHTG treatment has been growing steadily over the past few years due to the increasing prevalence of SHTG and the growing awareness of the condition.
The market growth is driven by various factors, including the increasing prevalence of SHTG, the rise in geriatric population, technological advancements in the field of SHTG treatment, and the growing awareness among patients and healthcare professionals about the risks associated with untreated SHTG.
Thus, the market for Severe hypertriglyceridemia (SHTG) treatment is expected to register a CAGR of 8% in the forecast period 2023 to 2033.
Increasing prevalence of severe hypertriglyceridemia and technological advancements driving the growth of SHTG treatment market
The global prevalence of SHTG is increasing, with an estimated 40 million people affected worldwide. This increasing prevalence is a major driver of the SHTG treatment market. With the aging of the global population, there is an increasing prevalence of SHTG among the elderly population. This has created a growing demand for SHTG treatment and is driving the growth of the market.
There have been significant technological advancements in the field of SHTG treatment, including the development of new drugs and medical devices, which are driving the growth of the market. There is a growing awareness among patients and healthcare professionals about the risks associated with untreated SHTG. This is leading to earlier diagnosis and treatment, which is driving the growth of the market.
Governments in many countries are taking initiatives to promote awareness about SHTG and to provide better access to SHTG treatment. This is creating a favorable environment for the growth of the market. As healthcare expenditure continues to increase worldwide, more resources are being allocated to the treatment of chronic conditions such as SHTG. This is driving the growth of the market as well.
Availability of treatments bolstering the market for severe hypertriglyceridemia treatment market
Pharmacological Treatments: Several classes of drugs are used to treat SHTG, including fibrates, omega-3 fatty acid supplements, statins, niacin, and bile acid sequestrants. These drugs work by reducing the levels of triglycerides in the blood.
Medical Devices: Apheresis machines are used in severe cases of SHTG to filter out excess triglycerides from the blood.
Surgery: In very rare cases, surgery may be recommended to treat SHTG, such as in cases where the condition is caused by an underlying genetic disorder.
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Limited awareness and high cost of treatment derailing progress of SHTG market
Despite growing awareness about SHTG, many people remain unaware of the condition, which can hinder diagnosis and treatment. The cost of SHTG treatment can be high, particularly for newer drugs and medical devices. This can limit access to treatment for some patients.
Some drugs used to treat SHTG can have side effects, including gastrointestinal problems, liver problems, and muscle pain. This can lead to treatment discontinuation and reduced patient adherence. There are alternative treatments available for SHTG, such as dietary supplements and herbal remedies, which can compete with conventional treatments.
There is limited research on SHTG compared to other cardiovascular conditions, which can hinder the development of new treatments and diagnostic tools. Regulatory challenges such as delays in approval processes and changing regulatory requirements can increase the time and cost associated with developing and bringing new SHTG treatments to market.
High Prevalence of SHTG boosting growth of SHTG treatment market in North America
North America has a high prevalence of SHTG, which is expected to drive the growth of the market. North America is home to some of the leading pharmaceutical and medical device companies in the world, which have been instrumental in developing new drugs and medical devices for the treatment of SHTG.
North America has a well-developed healthcare system with advanced healthcare facilities, which enable early diagnosis and treatment of SHTG. Healthcare expenditure in North America is among the highest in the world, which is expected to drive the growth of the SHTG treatment market.
Governments in North America have taken several initiatives to promote awareness about SHTG and to provide better access to SHTG treatment, which is creating a favorable environment for the growth of the market. Thus, North America is expected to possess 45% market share for SHTG market in 2023.
Rising awareness of STHG increasing dependency on treatment for ailment in Europe
There has been a growing prevalence of SHTG in Europe due to changing lifestyle patterns, such as unhealthy diets and sedentary lifestyles, leading to an increase in the incidence of obesity, diabetes, and other related diseases.
There have been significant advancements in the development of novel drugs and therapies for the treatment of SHTG, which are driving the growth of the market. These include newer lipid-lowering agents, such as omega-3 fatty acids, fibrates, and niacin.
There is a growing awareness among healthcare professionals and patients about the risks associated with SHTG, which has led to increased diagnosis rates and greater demand for effective treatment options.
The government is taking initiatives to promote awareness and education about SHTG and its treatment options, which is likely to drive market growth. Additionally, healthcare policies aimed at improving access to healthcare services, particularly in rural areas, are also contributing to market growth.
With the increasing burden of SHTG, healthcare expenditure is expected to rise in the coming years, which will drive the growth of the SHTG treatment market in Europe. Thus, Europe is expected to possess 39% market share for SHTG treatment market in 2023.
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Availability of inpatient care making hospital pharmacies dependable for SHTG treatment market
Hospital pharmacies may have access to a wider range of medications that are not available in retail pharmacies. This may be especially important for the treatment of SHTG, as specialized medications such as omega-3 fatty acids and fibrates may be needed to effectively manage the condition.
Hospital pharmacists are often highly trained and have specialized knowledge in the treatment of complex medical conditions such as SHTG. They can work closely with physicians and other healthcare professionals to ensure that patients receive the most appropriate medications and dosages.
In cases where patients with SHTG require hospitalization, hospital pharmacies can provide medications and other treatments as part of a coordinated inpatient care plan. Hospital pharmacies can help monitor medication adherence, which is especially important for the treatment of chronic conditions such as SHTG.
This can help ensure that patients receive the appropriate medications at the right time and in the correct dosages. Thus, hospital pharmacies are expected to possess 40% market share for SHTG treatment market in 2023.
Key players in the severe hypertriglyceridemia (SHTG) treatment market are Ionis Pharmaceuticals, 89bio, Inc., Arrowhead Pharmaceuticals, Inc., NorthSea Therapeutics B.V., Amryt Pharma, Afimmune Pharmaceutical, Zucara Therapeutics, Novo Nordisk, Adocia and Pfizer Inc.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 702.95 Million |
| Market Value in 2033 | USD 2675.37 Million |
| Growth Rate | CAGR of 14.3% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
Drug Class, Drug Delivery Method, Distribution Channel, Region |
| Regions Covered |
North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Rest of Latin America, Germany, United kingdom, France, Spain, Italy, Rest of Europe, India, Malaysia, Singapore, Thailand, Rest of South Asia, China, Japan, South Korea, Austria, New Zealand, GCC countries, South Africa, Israel, Rest of MEA |
| Key Companies Profiled |
Ionis Pharmaceuticals; 89bio, Inc.; Arrowhead Pharmaceuticals, Inc.; NorthSea Therapeutics B.V.; Amryt Pharma; Afimmune Pharmaceutical; Zucara Therapeutics; Novo Nordisk; Adocia; Pfizer Inc. |
| Customization | Available Upon Request |
From 2018 to 2022, the Severe hypertriglyceridemia (SHTG) treatment market grew at a CAGR of 8%
The global Severe hypertriglyceridemia (SHTG) treatment market is expected to grow with a 14.3% CAGR during 2023 to 2033.
As of 2033, the Severe hypertriglyceridemia (SHTG) treatment market is expected to reach USD 2675.37 Million
Hospital pharmacies are expected to hold 40% of the market share in 2023 for Severe hypertriglyceridemia (SHTG) treatment market.
North America is expected to possess 45% market share for Severe hypertriglyceridemia (SHTG) treatment market in 2023.
Europe severe hypertriglyceridemia (SHTG) treatment market size is expected to possess 39% market share in 2023.
1. Executive Summary | Severe Hypertriglyceridemia (SHTG) Treatment Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug Class 5.1. Olezarsen 5.2. Pegozafermin 5.3. Epeleuton 5.4. Lomitapide 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug Delivery Method 6.1. Oral Route 6.2. Injectable Route 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Hospital Pharmacy 7.2. Retail Pharmacy 7.3. Online Pharmacy 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Ionis Pharmaceuticals 18.2. 89bio, Inc. 18.3. Arrowhead Pharmaceuticals, Inc. 18.4. NorthSea Therapeutics B.V. 18.5. Amryt Pharma 18.6. Afimmune Pharmaceutical 18.7. Zucara Therapeutics 18.8. Novo Nordisk 18.9. Adocia 18.10. Pfizer Inc. 19. Assumptions & Acronyms Used 20. Research Methodology
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Severe Hypertriglyceridemia (SHTG) Treatment Market
