Albany, NY, July 25, 2018 (GLOBE NEWSWIRE) -- The global cardiovascular drugs market was valued at US$ 80.0 bn in 2016 is projected to register a CAGR of over 1.0% from 2017 to 2025, The report suggests that surge in incidences of hypertension and hyperlipidemia is likely to boost the demand of cardiovascular (CVD) drugs in the coming years. As key players introduce their new cardiovascular drugs in developed markets such a North America and Western Europe, these regions are likely to account for dominating share of the global cardiovascular drugs market.
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Surge in Incidences of Cardiovascular Disease to Boost Need for CVD Drugs
Cardiovascular disease (CVD) is a key cause of deaths globally. These diseases are mainly related to heart and blood vessels disorders including dyslipidemia, ischemic heart disease, stroke, thrombosis, coronary artery diseases, atherosclerosis, and peripheral artery disease. These diseases and disorders are mainly caused due to high cholesterol, obesity, excess alcohol, smoking, and poor or sedentary lifestyle. According to the World Health Organization (WHO), roughly 15 million deaths are caused due to CVD each year globally. This surge in incidences is boosting need for CVD drugs globally which in turn is driving growth of the global CVD drug market.
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Additionally, CVD drug market is expected to be benefited from increasing incidences of obesity and diabetes among patients. Poor life style and geriatric population are some of the key factor driving growth of the global CVD drug market. Furthermore, presences of high number of innovative drugs under the clinical studies are other factor influencing growth of the global CVD drug market.
Development of Alternative Ways to Ingest Drugs to Offer Growth Opportunities
Development of drugs for a broad range of applications is a major challenge faced by the manufacturers operating in this industry. In order to address the unmet needs, researchers are focused on development of cell-based therapies. In addition, instead of ingestion of drugs through conventional mode, various advanced devices are also being introduced in the market that facilitate drug delivery by mode of drug by balloons and drug eluting vascular grafts. Hence, based on abovementioned factors are creating opportunities for key players in the cardiovascular drugs market is anticipated to witness significant growth in the future.
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The global cardiovascular drugs market is prophesied in a report by Transparency Market Research (TMR) finds highly competitive owing to presence of strong players in the market. Expansion of cardiovascular drugs product portfolio through improving existing drugs and developing new drugs is one of the key strategy adopted by many key players, recent developments.
Leading players operating in global cardiovascular drugs market include AstraZeneca plc., Novartis AG, Pfizer Inc., Merck & Co., Inc., Bayer AG, Bristol-Myers Squibb Company, Sanofi, Boehringer Ingelheim GmbH, Abbott Laboratories, F. Hoffmann-La Roche Ltd, Gilead Sciences, Inc., Astellas Pharma, Inc., Johnson & Johnson, Eli Lilly and Company, Takeda Pharmaceutical Company Limited, and Otsuka Holdings Co., Ltd..
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