Impact Analysis of Covid-19
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UAE Heart Failure Treatment Drugs Market, by Drug Class (ACE Inhibitors, Angiotensin 2 Receptor Blockers, Beta Blockers, Diuretics, Aldosterone Antagonists, Inotropes, and Others), and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) is estimated to be valued at US$ 62.8 million in 2020 and is expected to exhibit a CAGR of 6.5% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
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UAE Heart Failure Treatment Drugs Market: Drivers
The increasing healthcare expenditure is expected to drive the UAE heart failure treatment drugs market growth during the forecast period. According to the Healthcare Resource Guide: United Arab Emirates report published in October 2019, the UAE’s healthcare expenditure reached US$ 14.4 billion in 2019 which was an increase of 5.4% compared to 2018. According to World Health Organization – Non-communicable Diseases (NCD) Country Profiles, in 2018, cardiovascular disease was the leading cause of death in the UAE, and accounted for 40% of all mortalities.
Moreover, the growing prevalence of cardiovascular diseases in UAE is expected to increase the risk of heart failure. Factors such as sedentary lifestyle, smoking and unhealthy diet are increasing the risk of heart failure among the Middle Eastern population. According to World Health Organization – Noncommunicable Diseases (NCD) Country Profiles, 2018, cardiovascular disease was the leading cause of death in the UAE and accounted for 40% of all mortalities.
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UAE Heart Failure Treatment Drugs Market: Opportunities
Even with the rapid expansion and increasing competition in pharmaceutical manufacturing, UAE has to import 80% of medicines to address the drug demand in the country.
In 2018, a new regulation for prescribing generics was introduced in Abu Dhabi which stated that all pharmacies must dispense generic medicines to all patients; and those who want the branded medication must pay the different prices, which can be up to 70% more than that of generics.
This is expected to boost growth of the local and regional pharmaceutical industry to offer customers more choices for medicinal products within affordable price ranges.
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UAE Heart Failure Treatment Drugs Market
- Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe with the World Health Organization declaring it a public health emergency. According to the World Health Organization’s report, manifestation of the coronavirus disease (COVID-19) has resulted in more than 26.1 million infected individuals worldwide as of September 2020.
- COVID-19 has affected the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channel, and by its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as the UAE, Saudi Arabia, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.
- The coronavirus (COVID 19) pandemic and resulting lockdowns in various countries across the globe have impacted the financial status of businesses in all sectors. The private healthcare sector has been impacted significantly by the pandemic.
Browse 06 Market Data Tables and 16 Figures spread through 112 Pages and in-depth TOC on “UAE Heart Failure Treatment Drugs Market, by Drug Class (ACE Inhibitors, Angiotensin 2 Receptor Blockers, Beta Blockers, Diuretics, Aldosterone Antagonists, Inotropes, and Others), and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies).
To know the latest trends and insights prevalent in the UAE Heart Failure Treatment Drugs Market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/uae-heart-failure-drugs-treatment-market-3427
Key Takeaways of the UAE Heart Failure Treatment Drugs Market:
- The UAE Heart Failure Treatment Drugs Market is expected to exhibit a CAGR of 6.5% during the forecast period owing to robust product pipeline and increasing approval of new heart failure drugs.
- Among drug class, the ACE inhibitors segment is expected to hold a dominant position in the UAE heart failure treatment drugs market in 2027 owing to launch of new and advanced products by market players.
- Among distribution channel, hospital pharmacies segment is expected to hold dominant position in the UAE heart failure treatment drugs market in 2027, as hospital pharmacies are mainly associated with hospitals to procure medications for in-patients and out-patients.
- Key players operating in the UAE Heart Failure Treatment Drugs Market are Novartis International AG, AstraZeneca Plc., Amgen, Inc., Pfizer, Inc., Mylan N.V., Merck & Co., Inc., Bristol-Myers Squibb, GlaxoSmithKline Plc., and Teva Pharmaceutical Industries Ltd.
Detailed Segmentation
- UAE Heart Failure Treatment Drugs Market, By Drug Class:
- ACE Inhibitors
- Angiotensin 2 Receptor Blockers
- Beta Blockers
- Diuretics
- Aldosterone Antagonists
- Inotropes
- Others
- UAE Heart Failure Treatment Drugs Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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