MarketResearchNest.com adds “Global Coronary Artery Disease Therapeutics Market 2017-2021” new reports to its research database. The report spread across 100 pages with tables and figures in it.
The analysts forecast the global coronary artery disease therapeutics market to grow at a CAGR of 5.17% during the period 2017-2021.
Coronary artery disease (CAD) is the most common type of heart disease and is one of the leading causes of death globally. It can lead to complications including myocardial infarction, stable angina, unstable angina, and sudden cardiac death. CAD is the narrowing of the coronary arteries that prevents the supply of an adequate amount of blood supply to the heart. It happens when a coronary artery gets hardened or narrowed due to various reasons such as the build-up of cholesterol or other materials known as plaque on the inner wall of the artery. This build-up is known as atherosclerosis. With passing time, a lesser amount of blood flows through the arteries. As a result heart muscle fails to get the required amount of blood or oxygen.
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Research team recognizes the following companies as the key players in the global coronary artery disease therapeutics market: AstraZeneca, Gilead, Novartis, and Pfizer
Other Prominent Vendors in the market are: Bayer, Bristol-Myers Squibb, GlaxoSmithKline, Merck, Mylan, and Teva Pharmaceutical Industries
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing strategic alliances. As generics highly dominates the CAD therapeutics market, the market has the presence of many large and small players. Such fragmented nature of the market results in the distribution of profits among too many participants. As the average cost, the firms incur toward drug development is around $2-3 billion, such distribution leaves the market players with minimal economic benefits. To overcome this situation, the market has been witnessing a growing trend of strategic alliances and acquisitions where players with strong cash position either buyout the desired molecule or the entire firm.”
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According to the report, one of the major drivers for this market is Growing geriatric population. Globally, the geriatric population continues to grow at a faster pace mainly due to increasing life expectancy and better medical facilities. The US Census Bureau reported that in 2015, the population aged 65 years and above was 617 million, and it is expected to rise to 1,566 million by 2050. The speed of aging and the size of the older population is remarkable in Asia. This is mainly due to the presence of a huge population in the region. However, government policies such as one child policy of China have reduced the addition of young population for a long period. Also, high investment in the healthcare sector has led to better medical facilities, thereby resulting in longer life expectancy. On the other hand, Africa is the region with the highest proportion of the young population and is expected to remain so by 2050.
Further, the report states that one of the major factors hindering the growth of this market is Highly genericized market. The global CAD therapeutics market is highly generalized, i.e., the generic version of the drugs have captured a huge portion of the market. The cost-effectiveness and high affordability of these generic drugs attract huge support from various government and non-government organizations, which lead to market penetration of the generic drugs further. However, this has increased the price competition in the industry and decreased the overall revenue generated by top companies in the branded drugs market. Generic substitution (GS) has been introduced in about 22 European companies and many of the areas of the US. GS has been introduced with a motive to increase the dispensing of generic medicines, which are of much lower cost. GS has successfully increased the penetration of generic drugs and reduced the overall pharmaceutical expenses of individuals.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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