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The company's latest report states that the impressive increase, which will occur across the eight major markets (8MM) of the US, France, Germany, Italy, Spain, UK, Japan, and China, will be driven by the launch of several drugs with blockbuster potential, which are currently in late-stage development, during the forecast period.
Dr Valentina Gburcik, GlobalData's director of cardiovascular & metabolic disorders, says two major revenue-generating events are expected to boost market growth, namely the launches of proprotein convertase subtilisin/kexin type 9 (PCSK9) inhibitors, from 2015, and cholesteryl ester transfer protein (CETP) inhibitors, from 2017.
She explains: "Both drug classes will serve niche patient subpopulations within the low-density lipoprotein cholesterol-reducing dyslipidemia treatment space. They will be forced to compete not only with each other, but with established therapies.
"These treatments' exploitation of novel mechanisms of action will give them an edge in achieving success towards this end. Ultimately, however, the drugs will need to perform successfully in major phase III cardiovascular outcomes trials if they hope to gain acceptance into the broader dyslipidemia treatment space."
GlobalData expects that the major players in the PCSK9 space will be Amgen, Sanofi, Regeneron, and Pfizer.