LONDON, March 05, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Hyperlipidemia Global Market Report 2024, the hyperlipidemia market has demonstrated consistent growth in recent years, driven by increasing incidences of chronic disorders such as heart disease. Projections indicate steady expansion, with rising demand for hyperlipidemia treatments expected to fuel market growth in the coming years.
Market Growth Projection:
From $19.41 billion in 2023, the hyperlipidemia market is forecasted to reach $20.24 billion in 2024, reflecting a compound annual growth rate (CAGR) of 4.2%. Looking ahead, the market is anticipated to continue its upward trajectory, reaching $23.25 billion by 2028, with a CAGR of 3.5%.
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Driving Factors:
Key drivers of this growth include the increasing prevalence of heart disease, which necessitates effective hyperlipidemia treatments to reduce the risk of heart attacks, strokes, and other cardiovascular complications. Rising awareness and the need for interventions to improve endothelial function further contribute to market expansion.
Healthcare Expenditure Fuels Growth:
Rising healthcare expenditures globally play a crucial role in driving the hyperlipidemia market forward. Increased spending facilitates the development of innovative hyperlipidemia therapies and ensures access to affordable preventive care and treatments, thereby supporting market growth.
Key Players and Innovations:
Major players such as Pfizer Inc., Novartis AG, and Johnson & Johnson Limited are at the forefront of innovation, focusing on the development of advanced lipid-lowering therapies to address the evolving needs of patients. Recent advancements include the introduction of novel drugs such as Leqvio (inclisiran) by Novartis, which offers a promising adjunct treatment for hyperlipidemia.
Regional Insights:
North America emerged as the largest region in the hyperlipidemia market in 2023, driven by robust healthcare infrastructure and a high prevalence of heart disease. However, significant growth opportunities exist across regions as healthcare systems prioritize cardiovascular health and disease prevention.
Market Segmentation:
The hyperlipidemia market covered in this report is segmented –
1) By Type: Familial, Acquired
2) By Treatment: Statins, PCSK9 Inhibitors, Bile Acid Sequestrants, Cholesterol Absorption Inhibitors, Fibric Acid Derivatives, Combination, Other Treatment
3) By Route of Administration: Oral, Parenteral
4) By End-Users: Hospitals, Specialty Clinics, Homecare, Other End Users
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To capitalize on the burgeoning opportunities in the hyperlipidemia market, stakeholders can leverage insights provided in the Global Market Report. By analyzing hyperlipidemia market trends, identifying key players, and understanding regional dynamics, businesses can develop robust strategies to drive innovation, expand market presence, and improve patient outcomes.
Hyperlipidemia Global Market Report 2024 by The Business Research Company provides insights on the hyperlipidemia market size, hyperlipidemia market segments, hyperlipidemia market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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