PCSK9 Inhibitors Market: Introduction
- Proprotein convertase subtilisin kexin type 9 (PCSK9) inhibitors are defined as medications that have been developed to lower cholesterol levels
- PCSK9 is a protein formed in the liver. Increase in level of PCSK9 leads to high cholesterol. Hence, PCSK9 inhibitors have been developed to control the PSCK9 level.
- PCSK9 binds to the low-density lipoprotein receptors (LDL) in the body, which prevents the removal of LDL from the blood, leading to increase in the level of bad cholesterol or LDL the in blood. At this stage, a PCSK9 inhibitor is used to block the PCSK9 enzyme, which increases the number of LDL receptors that can remove the LDL from the blood.
Key Drivers, Restraints, and Opportunities of Global PCSK9 Inhibitors Market
- Rise in prevalence of heart diseases due to high level of cholesterol drives the demand for PCSK9 inhibitors. According to the World Health Organization, around 17.9 million people are affected and succumb to cardiovascular diseases every year. Increase in incidence of heart attack and early heart diseases is a major factor driving the global PCSK9 inhibitors market.
- Surge in geriatric population with high cholesterol increases the prevalence of heart diseases due to sedentary lifestyles. This is expected to drive the global PCSK9 inhibitors market.
- However, high cost of PCSK9 inhibitor treatment is likely to hamper the growth of the global market
North America to Capture Major Share of Global PCSK9 Inhibitors Market
- In terms of region, the global PCSK9 inhibitors market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is projected to account for major share of the global PCSK9 inhibitors market during the forecast period due to presence of well-established companies that are developing and providing PCSK9 inhibitors. According to the U.S. Department of Health & Human Services, around 805,000 people in the U.S. have a heart attack every year. This increases the need of medicines such as PCSK9 inhibitors to reduce the cholesterol level and prevent heart diseases at an early stage.
- Europe is a prominent market for PCSK9 inhibitors due to enhanced health care processes and better health care policies and implementation of new health care procedures to reduce the risk of heart diseases. Favorable reimbursement policies in developed countries such as Germany and the U.K. and established regulatory framework focusing on patient safety and high treatment efficacy standards are expected to fuel the growth of the PCSK9 inhibitors market in the region.
- The PCSK9 inhibitors market in Asia Pacific is expected to grow at a rapid pace during the forecast period owing to improving health care infrastructure and increase in awareness about heart disease treatment. Moreover, surge in geriatric population with heart problems due to sedentary lifestyles is likely to propel the market in the region.
Key Players Operating in Global PCSK9 Inhibitors Market
The global PCSK9 inhibitors market is highly consolidated due to the presence of small number of key players. These players hold major share in their respective regions. Growth strategies adopted by leading players are projected to drive the global PCSK9 inhibitors market.
Major players operating in the global PCSK9 inhibitors market are:
- Acrobiosystems, Inc.
- Pfizer, Inc.
- Eli Lily
- Novartis AG
- F. Hoffmann-La Roche Ltd.
- Regeneron Pharmaceuticals, Inc.
- Other prominent players
Global PCSK9 Inhibitors Market: Research Scope
Global PCSK9 Inhibitors Market, by Type
- Repatha (Evolocumab)
- Praluent (Alirocumab)
Global PCSK9 Inhibitors Market, by Application
- Cardiovascular Disease
- High Cholesterol
- Familial Hypercholesterolaemia (FH)
Global PCSK9 Inhibitors Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.