Cardiovascular Drugs Market Overview:
- Cardiovascular drugs are used for the treatment of diseases associated with the circulatory system, which include blood clots, stroke, coronary artery disease, variation in blood pressure, arrhythmias, high cholesterol, and heart failure.
- Based on drug class/types, the market is segmented into anti-hypertensives, anti-hyperlipidemic, anticoagulants, antiarrhythmics, and others.
- Based on the trade channel, the global cardiovascular disease drug market is classified as hospital pharmacies, retail pharmacies, and online pharmacies.
- As per the research report of AGR, it is estimated that global cardiovascular drugs market is estimated to witness a CAGR of ~4-5% during the forecast period 2020–2025.
- Thekey reasons for the growth of the cardiovascular drugs market is the increasing prevalence of heart stroke and cardiovascular diseases.
- Anticoagulants in the drug class segment are expected to hold the largest market share; Growth will be more robust for lipid lowering agents, which anticipate a CAGR of 2.1%.
- Asia-Pacific region is forecast to have the most robust growth with a CAGR of ~ 5-6%. Slowest growth, with a CAGR ~ 0.4%-0.6% is expected in The Middle East and Africa and meanwhile, North America will lead the globe with a total market value in 2025.
Cardiovascular Drugs Market Outlook:
- Global cardiovascular drug market size is anticipated to reach ~USD 60 billion by 2025.
- Drug classes used to treat cardiovascular indications such as hyperlipidemia, hypertensions are likely to fuel the expansion of global cardiovascular drugs market from 2020 to 2025.
- North America is anticipated to dominate the global cardiovascular drugs market in the coming years due to rising awareness of numerous heart diseases in this region. Also, US is expected to witness significant growth in the global cardiovascular drugs market followed by Canada.
- Additionally, in the European Union; UK, Germany, Italy, France, and Spain grab the major market share.
Nevertheless, Asia is anticipated to witness considerable growth in the future in the global cardiovascular drugs market mainly owing to investment by major players for R&D facilities in this region.In addition, increasing awareness about heart related problems is also supporting the growth of cardiovascular drugs market in the region. Japan, China and India are expected to be the fastest growing cardiovascular drugs markets in Asia.
Cardiovascular Drugs Market Growth Drivers and Trends:
Most primary factors driving the global cardiovascular drugs market are;
- Increasing aging population
- Increasing prevalence of cardiovascular diseases
- High incidence of obesity and diabetes
- Unhealthy lifestyle
- Raise in R&D expenditure fornovel cardiovascular drugs
- Increased government initiatives to raise the awareness of different types of cardiovascular conditions
Increasing geriatric population, unhealthy lifestyle, and the existence of numerous novel drugs in the clinical studies are additional factors boosting the growth of the global cardiovascular disease drug market.
According to the Global Health & Wellness Report, published in 2018, nearly 40% of the adult population in the United States were diagnosed with a cardiovascular condition which directly resulted in a greater demand for highly efficient and immediate treatment.
To know more about the report, please connect with AGR at https://www.avalonglobalresearch.com/contact-us
Challenges disrupting the market:
Though the global cardiovascular drugs market has numerous growth drivers, there are certain major constraints hindering the market growth.
- Complex drug development process
- Rigorous regulatory approval process for drugs
- Adverse effects of cardiovascular drugs
- High treatment cost of cardiovascular diseases
Investment in cardiovascular drug development has stalled over the past two decades, due to the high cost involved in conducting research and outcome trials in the current regulatory environment, which is one of the primary reasons for growth constraint.
However, rise of cardiovascular diseases has become one of the major health-related problems across the globe.
- To confront this, several leading players in the cardiovascular drugs market are investing deeply in the development of new drugs that are more efficient and have lesser side effects.
- The development of new drugs with greater efficiency and lesser side effects, shall command the market growth.
Cardiovascular Drugs Market Players Perspective:
Some of the key players operating in the cardiovascular drugs market profiled in this Avalon Global Research report are Abbott Laboratories Inc., Astra Zeneca PLC, Bayer AG, Hoffmann-La Roche Ltd., Johnson & Johnson, Merck & Co., Novartis AG, Pfizer Inc., and Sanofi S.A. The other prominent players in the market include Actelion Pharmaceuticals Ltd, Astellas Pharma Inc., Bristol–Myers Squibb, Boehringer Ingelheim GmbH, Daiichi Sankyo Company, Limited., Eli Lilly and Company, GlaxoSmithKline PLC, Gilead Sciences, Inc., Roche Holding AG, Sun Pharmaceuticals Ltd., Takeda Pharmaceutical Co., and United Therapeutics Corp.
Even though the upsurge of specialty drugs has enabled manufacturers to charge premiums, the market remains highly modest and patients have a wide variety of similar effective drugs to choose.
The ongoing research activities by key players to improve technologically advanced cardiovascular drugs to save the life of the patients,with abridged side effects such as biosimilars, monoclonal antibodies and peptide therapies, are expected to broaden the growth of the global cardiovascular drugs market revenue throughout the forecast period.
One of the key trends of the global cardiovascular drugs market is the increase in mergers and acquisitions between drug manufacturing companies and rapid product launches.
- India based Natco Pharma, in2019 announced the launch of the generic version of Valsartan-Sacubitril, a cardiovascular drug for the treatment of congestive heart failure. Novartis AG holds the patent for Valsartan-Sacubitril called Vymada in India
- Privately held company Espero Pharmaceuticals, Inc., which was in the commercial-stage cardiovascular pharmaceutical and Armetheon, Inc., a private company in late-clinical stage pharmaceutical have merged in 2017.
- In 2017, J&J acquired Actelion and added Uptravi&Opsumit to its portfolio, which are expected to secure the market leadership of the company
Cardiovascular Drugs Market Research Scope:
- The base year of the study is 2019, with projections done up to 2025.
- The study presents a detailed analysis of the competitive landscape, considering the market shares of the leading companies. These provide the key market participants with the essential business intelligence and help them understand the future of the cardiovascular drugs market.
- The assessment includes the future market, ansummary of the competitive structure, market trends, market demands, market drivers, market challenges, and product analysis.
- The market drivers and restraints have been assessed to gauge their impact over the forecast period.
- The report further ascertains the key prospects for growth while also detailing the key challenges and possible threats.
- The key areas of focus include opportunity areas for cardiovascular drugs market.