Market Research Report
Lipid Disorder Treatment Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||922002|
|Published||Content info||109 Pages
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|Lipid Disorder Treatment Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 109 Pages||
The major factors attributing to the growth of the lipid disorder treatment market are the growing prevalence of lifestyle diseases like obesity and increasing smoking and alcohol consumption. Lifestyle diseases are conditions associated with the way people live. They include atherosclerosis, heart disease, stroke, obesity, and type 2 diabetes. As per the World Health Organization (WHO), in 2016, more than 1.9 billion adults, 18 years and older, were overweight. Of these over 650 million were obese, However, in 2018, 40 million children under the age of 5 were overweight or obese.
Furthermore, the increasing growth of familial combined hyperlipidemia incidence rate also plays a major role in the growth of the market. However, the side effects of the medication involved in the treatment are the restraint to the growth of the market.
Familial Combined Hyperlipidemia Incidence Rate is Expected to Show a High Growth
Familial combined hyperlipidemia is the most common congenital disorder that increases blood fats. It causes high cholesterol and high blood triglycerides which can cause early heart attacks. The rate of incidence of this disease is high in adults, and the treatment market for the disease is profitable for the key players involved in the manufacturing of the drugs. As this condition is common, the drugs for this disease have maximum sales and generates maximum revenue.
Statins are the class of drugs that are used to treat familial combined hyperlipidemia, the same is used to treat related conditions like obesity. Therefore as the incidence of obesity increases the market growth rate of this segment also increases.
As per the National Organization for Rare Disorders(NORD), 1 in 220 people have familial combined hyperlipidemia and these statistics prove that the increasing patient pool is directly proportional to the market growth.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall lipid disorder treatment market, throughout the forecast period. The market growth is due to the factors such as the presence of key players, high prevalence of obesity and other lifestyle disorders in the region, established healthcare infrastructure, are some of the key factors accountable for its large share in the market.
Furthermore, higher incidence of familial combined hyperlipidemia, beneficial government initiatives and increase awareness of the treatment are some of the drivers expected to increase the market growth. In the North America region, the United States holds the largest market share. According to Center for Chronic Disease Prevention (CDC), 7% of U.S. children and adolescents ages 6 to 19 have high total cholesterol, therefore a growing number of these diseases in the country is anticipated to stimulate the demand in this region.
The lipid disorder treatment market is moderately competitive and consists of major players. Some of the companies which are currently domianting the market Pfizer, Inc, Novartis AG, Astrazeneca Plc, Merck & Co., Inc., Sun Pharma, Emcure Pharmaceuticals, Teva Pharmaceuticals, Mylan Pharmaceuticals, Inc., Kowa Pharmaceuticals America, Inc., Glenmark Pharmaceuticals Ltd., Wockhardt Limited.