Wilmington, Delaware, United States, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global antihypertensive drugs market is expected to develop at a CAGR of 3.0% from 2021 to 2031. The market is likely to exceed US$ 40 billion by the end of 2031.
The antihypertensive drugs market, a critical component of the pharmaceutical industry, is witnessing steady growth globally. Hypertension, a prevalent cardiovascular condition, has led to a robust demand for antihypertensive medications.
The market is driven by an increase in elderly people with comorbid illnesses, as well as an emphasis on combination medications. To fulfill the demands of old people with comorbidities, companies are boosting the manufacturing of combination antihypertensive medications.
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Innovation in drug development, including novel compounds and combination therapies, remains a key trend. ACE inhibitors, beta-blockers, calcium channel blockers, and diuretics are among the commonly prescribed antihypertensive drugs.
Government initiatives to raise awareness about hypertension and its management, coupled with healthcare infrastructure improvements in emerging economies boost market growth.
The market also experiences a surge in research and development activities, aiming to develop efficient, side-effect-free medications, thus ensuring a competitive landscape.
The antihypertensive drugs market is expected to see sustained growth, driven by ongoing research, technological advancements, and increasing healthcare awareness.
Key Takeaways from the Market Study
- The global market acquired US$ 30.2 billion in 2021.
- In 2022, the hospital pharmacies segment held a market share of 41%.
- The market in North America is poised to expand at a CAGR of 3.5% until 2031.
- The market in Asia Pacific is likely to expand at a CAGR of 3.1% until 2031.
- The United States held a market share of 47% of North America in 2021.
Global Antihypertensive Drugs Market- Key Drivers and Trends
- Public awareness campaigns like initiatives increase the diagnosis rates, encouraging individuals to seek medical intervention and boosting the market demand.
- Technology plays a significant role, especially in monitoring and adherence. Wearable devices and mobile applications allow patients to monitor their blood pressure regularly, aiding in early detection and management. This integration enhances patient outcomes and adherence to prescribed medications, influencing market dynamics.
- The trend toward personalized medicine, driven by advancements in genetic research, enables tailored treatment plans based on individual genetic factors.
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Regional Landscape of the Antihypertensive Drugs Market
- The antihypertensive drugs market in North America is robust and dynamic. It is driven by the region's aging population, sedentary lifestyles, and increasing prevalence of hypertension. High awareness levels about hypertension risks and government healthcare initiatives contribute to the market's growth in this region.
- The Asia Pacific antihypertensive drugs market is significantly expanding. The expansion is due to the region's growing aging population, rising prevalence of hypertension, and lifestyle-related health issues. Increasing awareness about cardiovascular health and advancements in healthcare infrastructure propel market growth.
- The market benefits from a large patient pool and rising healthcare expenditure in countries like China, India, and Japan. The adoption of innovative therapies, coupled with a focus on personalized medicine, contributes to the market's dynamism in the Asia Pacific region.
Competitive Landscape
The antihypertensive drugs market features intense competition among pharmaceutical giants like Pfizer, Inc., Sanofi S.A, Novartis AG, Boehringer Ingelheim GmbH, Actelion Ltd., F. Hoffmann-La Roche Ltd., Bayer AG, Daiichi Sankyo Company, Limited, and Takeda Pharmaceutical Company Limited, driving continuous research and development.
Industry players invest heavily in innovative drug formulations, aiming for improved efficacy and minimal side effects. Strategic collaborations, mergers, and acquisitions followed by the key players shape the market's competitive landscape. The focus remains on personalized medicine, leading to the development of targeted therapies.
Some key market developments in the market are as follows:
- Hanmi Pharmaceutical announced in May 2022 that it will begin offering its blockbuster hypertension medicine Amosartan in China under its company name, Meiyaping. It was the first blood pressure combined medication in China to hit the industry.
- Pfizer Inc. recalled a blood pressure medication in March 2022 due to high amounts of a potentially cancer-causing contaminant.
Key Segments Covered
- By Therapy Type
- Diuretics
- Angiotensin Converting Enzyme Inhibitors
- Angiotensin Receptor Blockers
- Beta-blockers
- Vasodilators
- Calcium Channel Blockers
- Renin Inhibitors
- Alpha-blockers
- Others
- By Type
- Primary Hypertension
- Secondary Hypertension
- By Medication Type
- Monotherapy
- Combination Therapy
- Fixed Dose Combinations
- By Distribution Channel
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
- Others
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
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