New York, Aug. 16, 2022 (GLOBE NEWSWIRE) -- According to Precedence Research, the global cardiovascular drugs market size was accounted at USD 162.64 billion in 2022. The rapid modernization has increased the consumption of fast foods and unhealthy lifestyle practices which has booster the number of cases suffering with cardiovascular disorders. The lack of physical activity among the people as a result of busy schedule increases the rate of cardiovascular disorders. This leads to an increased demand and supply of essential cardiovascular drugs which prove to be life saving for the patients. A number of cardiovascular disorders require palliative treatment which helps to boost the market.
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Cardiovascular drugs cannot be discontinued easily by a patient as it requires a proper judgement of the cardiac health of the patient which may prove to be fatal in the long run. Hence the cardiovascular drugs find an important place in the healthcare industry market.
Regional Snapshots
The North American market has recorded the highest growth as result of the huge number of populations suffering with cardiovascular diseases. The increasing prevalence of hypertension among the people along with obesity has led to numerous cardiovascular disorders. The Asia Pacific region has proved to be the fastest market for the cardiovascular drugs as a result of the huge number of people suffering with hypertension. Obesity is another factor which leads to cardiovascular disorders that boost the sales of cardiovascular drugs.
The European market has made a considerable growth as a result of the huge number of elderly people in this region. The presence of the genetic population automatically propels the demand and supply chain of the cardiovascular drugs market.
Report Highlights
- On the basis of drug type, the antihypertensive drugs have dominated the segment as a result of its high demand in the market due to the habitual consumption by the consumers which cannot be discontinued under any circumstance. The huge number of people suffering with hypertension has boosted this market.
- On the basis of disease indication, the hypertension sector has dominated the segment due to its huge prevalence among the people which includes the youngsters as well. Hyperlipidaemia also provides a huge market as a result of the unhealthy lifestyle of the people.
- On the basis of end users, the hospital sector has recorded the highest growth as a result of it being the first place where a patient visits in the event of an emergency. The use of high degree lifesaving medicines and drugs helps the cardiovascular drugs market to show a significant growth.
- On the basis of geography, the North American market has shown a tremendous growth as a result of the huge number of cardiovascular patients present in this region. The use of advanced medicines has increased the life span of the people suffering with cardiovascular disorders which has kept the demand and supply alive for the essential drugs.
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Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 155.6 Billion |
| Revenue Forecast by 2030 | USD 231.7 Billion |
| CAGR | 4.52% from 2022 to 2030 |
| Highest Revenue Holder | North America |
| Fastest Growing Region | Asia Pacific |
| Base Year | 2021 |
| Forecast Year | 2022 to 2030 |
| Key Players | Bristol-Myers Squibb Company, Bayer AG, Pfizer Inc., Janssen Pharmaceuticals, Inc., Novartis AG, Merck & Co., AstraZeneca, Sanofi, Gilead Sciences, Inc., F. Hoffmann-La Roche |
Market Dynamics
Drivers
The increasing number of people in the geriatric age group has boosted the sales and demand of the cardiovascular drugs. The increasing number of chronic diseases among the people has boosted the sales and demand for cardiovascular drugs. There are a number of chronic diseases that require only palliative treatment and cannot be cured permanently. As a result of this, use of cardiovascular drugs has increased to a great extent. Main increasing problems of hypertension and cholesterol has increased the number of patients suffering with cardiovascular diseases. This has increased the sales and demand of cardiovascular drugs in the market. These multiple reasons prove to be driving factors for the growth of the market during the forecast period.
Restraints
The high cost associated with the use of cardiovascular drugs has hampered the growth of the market. The strict government guidelines and norms regarding the use of cardiovascular drugs has hampered the growth of the market. The use number of side effects and complications that are caused by the cardiovascular drugs has hindered the sales and demand. The increasing awareness regarding health has hampered the demand of the cardiovascular drugs. With the occurrence of the pandemic, people have started taking care of their health and hence the number of people requiring emergency cardiovascular drugs has reduced. These multiple reasons prove to be the restraining factors for the growth of the cardiovascular drugs market.
Opportunities
The huge number of people suffering with obesity and cholesterol has increased the risk of cardiovascular disorders. The use of emergency drugs is usually seen in the hospitals on a regular basis which has proved to be a great opportunity for the growth of the market. A huge number of patience undergo palliative treatment in order to deal with the chronic diseases which prove to be a constant sale for the market which keeps the revenue returns flowing. The number people suffering with hypertension has also increased the use of cardiovascular drugs.
Blood thinners are demanded by the market on a large scale as a result of the increasing cardiovascular disorders. Increasing life expectancy of the geriatric population has boosted the sales of cardiovascular drugs. The increasing prevalence of cardiovascular disorders among the youngsters has boosted the sales of these emergency drugs. Hypertensive drugs cannot be discontinued easily, which helps to continue the demand and supply of these drugs. These multiple reasons provide great opportunities to the market.
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Challenges
The increasing awareness among the people regarding the health hazards of chemically formulated drugs has hampered the growth of the cardiovascular drugs market. The increasing side effects of cardiovascular drugs has also challenged the growth of the market. The numerous norms imposed by the government regarding the expiry of the essential drugs has imposed a challenge on the growth of the market. The high cost associated with the cardiovascular drugs makes it on affordable for the poor people residing in the developing nations which hampers the growth of the market during the forecast period.
Recent Developments
- In January 2019- Natco Pharma which is An Indian company. Natco Pharma disclosed the discovery of valsartan-sacubitril. It is a cardiovascular drug which is used in the treatment of congestive heart failure. The patent is possessed by Novartis AG under the heading of Vymada.
Market Segmentation
By Drug Type
- Antihypertensive
- Anticoagulants
- Antihyperlipidemic
- Antiplatelet Drugs
- Others
By Disease Indication
- Hypertension
- Coronary Artery Disease
- Hyperlipidaemia
- Arrhythmia
- Others
By Route of Administration
- Oral
- Parenteral
- Others
By Drug Classification
- Branded Drugs
- Generic Drugs
By Mode of Purchase
- Prescription-Based Drugs
- Over-The-Counter Drugs
By End Users
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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