In 2022, the global cardiovascular drugs market was valued at USD 93.58 billion. The market is expected to grow USD 125 billion by 2027, growing a healthy CAGR of 5.96% from 2022 to 2027.
Browse details of the report @ https://www.marketdataforecast.com/market-reports/cardiovascular-drugs-market
The COVID-19 pandemic has a minor negative influence on the global market for cardiovascular drugs. Pharmaceutical and biotech businesses are collaborating to combat the COVID-19 epidemic by supporting vaccine development and looking for new approaches to address supply chain issues. The healthcare and pharmaceutical industries have been exempted from tight lockdown restrictions, ensuring that the market for cardiovascular drugs remains unaffected. Drugmakers have a lot of potential to treat COVID-19 because of the enormous need for preventative medicines. Because of the desire for better diagnostics and treatments to treat COVID-19, the healthcare industry is expected to rise significantly. As a result, the global market for cardiovascular drugs is impacted dramatically.
The rising frequency of chronic diseases, the significant elderly population, and technical improvements in cardiovascular pharmaceuticals are majorly propelling the worldwide cardiovascular drugs market growth. According to the American Heart Association, 41.52 percent of the US population had some cardiovascular disease in 2015, and this number is expected to rise to over 45 percent by 2035. Furthermore, increasing demand and inclination for non-invasive therapies among the global patient base has been the engine of market expansion over the last several years.
Furthermore, the introduction of newer and more advanced medications and changing consumer lifestyles in developed nations are expected to boost the market for cardiovascular drugs in the near future. According to the US Centres for Disease Control and Prevention, high blood pressure, high cholesterol, and smoking are the leading causes of heart disease. Approximately half of the US population (47%) has at least one of these three risk factors, increasing the risk of lifestyle-related diseases, especially among the elderly. According to the World Health Organization, the frequency of chronic diseases increased by 57% globally in 2020. Obesity and diabetes, for example, are causing an increase in the demand for cardiovascular drugs.
Growth in the pharmaceutical and healthcare industries and developments in diagnostic technology and more applications are likely to help global drugmakers. Developing countries like China, India, and Japan are fast-growing markets because of the increased number of heart disease cases and a large pharmacological portfolio. According to the American Heart Association, coronary artery disease was the top cause of death in the United States in 2018. Throughout the projection period, the high revenue share of the cardiovascular medications market is due to the availability of effective drugs and growing awareness of heart diseases with early intervention.
According to the 2018 Global Health and Wellness Report, approximately 40% of the adult population in the United States was diagnosed with a cardiovascular problem, resulting in a growing demand for highly effective and immediate treatment. Additionally, ongoing research activities by key players to develop technologically advanced cardiovascular drugs with reduced side effects, such as biosimilars, monoclonal antibodies, and peptide therapies, to save patients’ lives, are expected to fuel the global cardiovascular drugs market revenue growth over the forecast period.
During the projected period, the global cardiovascular drugs market is expected to be hampered by government regulations and drug side effects. The patent expiration of numerous prominent pharmaceuticals is another reason that is expected to slow the market’s growth rate. Furthermore, many nations’ political unrest and persistent economic difficulties cast doubt on the healthcare sector’s long-term viability. The lack of cost-effective medicines has influenced the population’s health in less rich countries, resulting in a short average life expectancy. During the predicted period, this factor may threaten the growth rate.
Avail sample market brochure of the report to evaluate report usefulness, get a copy @ https://www.marketdataforecast.com/market-reports/cardiovascular-drugs-market/request-sample
KEY MARKET INSIGHTS:
- Arteriosclerosis is a disease that causes the arteries that carry oxygen and nutrients from the heart to the body to thicken and stiffen. It’s a prevalent condition, and as the population grows, so will the disease and, therefore, the medicine industry. Among all therapeutic drugs, cardiac arrhythmias are predicted to grow at the highest rate. In this disorder, the heart’s beating frequency becomes erratic, sometimes fast and sometimes slow. This disease is caused by the predominance of bad lifestyles such as junk eating and smoking. Manufacturers spend a significant amount of money developing medications that potentially heal this ailment, supporting market growth. The market for therapeutic drugs for the acute coronary syndrome is predicted to expand significantly. It’s a term used to describe a circumstance in which blood flow suddenly drops and stops. The development of this disease and its therapeutic medicine is due to the rise in the geriatric population and other reasons. Among all different sub-segments, hypertension or high blood pressure has the most significant market share and is predicted to increase at a reasonable rate. The rise in improper eating habits and other unhealthy lifestyles has aided in spreading this disease tremendously. The unexplored market has enticed other manufacturers to enter this category and cater to the growing number of patients.
- According to the American Heart Association, cardiovascular illness plagued 92.1 million Americans in 2018, with coronary artery disease (CAD) being the leading cause of death. As a result, the market is driven by increased demand for more effective treatments and medications in the United States.
- North America is expected to lead the global cardiovascular medicine market during the projected period. The primary contributors are sedentary lifestyles with little physical activity, poor diet, anxiety, and stress, all of which lead to chronic diseases such as diabetes and obesity, as well as an increase in the prevalence of multiple cardiovascular diseases such as coronary artery disease (CAD), strokes, and atrial fibrillation in the United States, necessitating effective CVD treatment. Therefore, it contributes to the exceptional revenue share fuelling the worldwide cardiovascular medicines market throughout the anticipated year.
- Europe is followed by North America in the cardiovascular medicines market, with Germany accounting for a large portion of the market in 2021. During the assessment period, the cardiovascular market will benefit from the highly efficient reimbursement framework, rising prevalence of chronic diseases, rapid expansion in the senior population, and enhanced healthcare infrastructure across the European region.
- The market for cardiovascular therapeutic pharmaceuticals in Europe is segmented by disease type and pharmacological class. In addition, the market is divided into monotherapies and combination medicine classes based on pharmacological class. The European market is divided into five regions: the United Kingdom, France, Germany, Italy, and Spain.
- Cardiovascular diseases include thrombosis, arteriosclerosis, myocardial infarction, cardiac arrhythmias, peripheral artery disease, acute coronary syndrome, coronary artery disease, hyperlipidemia, hypertension, cardiac failure diseases, and other cardiovascular diseases.
- There are several main participants in the cardiovascular drugs market, which is moderately competitive. A few significant firms are developing fresh products and technologies to compete with existing offerings, while others purchase and partner with industry leaders. C. H. Boehringer Sohn AG & Co KG, Amgen Inc, Baxter International Inc, Pfizer Inc, and Novartis AG are just a few of the firms that now dominate the market.
The report can be customized as per the requirements; talk to our team @ https://www.marketdataforecast.com/market-reports/cardiovascular-drugs-market/customization
SEGMENTS COVERED UNDER THIS REPORT:
By Drug Type: Antihypertensive, Antihyperlipidemic, Anticoagulants, Antiplatelet Drugs, and Others
By Disease Indication: Hypertension, Hyperlipidemia, Coronary Artery Disease, Arrhythmia, and Others
By End-Users: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others
By Region: North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa
Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs.
Market Data Forecast