New York, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The global Cardiometabolic Drugs Market size is projected to expand at ~ 6% CAGR between 2023 and 2035. The market is expected to garner a revenue of USD 72 Billion by the end of 2035, up from a revenue of ~USD 50 Billion in the year 2022. This growth is attributed to the increasing prevalence of cardiometabolic diseases, such as diabetes and hypertension, owing to lifestyle changes and unhealthy diets. Heart disease, dyslipidemia, and diabetes have all been associated with cardiometabolic multimorbidity in the U.S., which indicates that 35 million adults were affected between 2017 and 2018.
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Men were affected at a rate of 16%, while women were affected at a rate of 14%. As more and more people become aware of the risks of developing cardiovascular diseases and the availability of effective treatments, the demand for these drugs is projected to increase. In addition to treating various conditions, these drugs target specific aspects of metabolism, such as lowering cholesterol levels and increasing insulin sensitivity. In addition, the increasing demand for novel drugs and the introduction of new drug classes, such as SGLT2 inhibitors, are expected to drive the growth of the market. Moreover, the growing awareness among the population regarding cardiovascular diseases and the availability of effective therapies is also expected to fuel market growth in the coming years.
Global Cardiometabolic Drugs Market: Key Takeaways
- Market in North America to have the fastest growth
- Among the segments, anticoagulants are expected to grow at the fastest rate
- Market in Asia Pacific to propel at a highest growth rate
An increase in diabetes prevalence Worldwide to Boost Market Growth
Diabetes increases the risk of developing heart and vascular diseases, which in turn increases the demand for drugs that can treat these conditions. Additionally, age is a risk factor for diabetes, so as the population ages, the prevalence of diabetes is expected to rise. According to the International Diabetes Federation (IDF), in 2021, there are about 537 million people between the ages of 20 and 79 who have diabetes. The number is expected to rise to 783 million over the next five years. Antidiabetic drugs are the most widely used drugs and are often used as the first line of treatment for Type 2 diabetes. Additionally, advancements in drug development and the availability of more effective medications for diabetes have contributed to more people seeking treatment for the condition.
Additionally, increasing awareness among the population regarding diabetes and its associated complications and the growing availability of generic drugs are expected to contribute to the growth of the market. Furthermore, government efforts to promote diabetes management and awareness initiatives, such as tax rebates for diabetes medication, are expected to further drive market growth. Tax rebates provide an incentive for people to purchase diabetes medication and manage their diabetes, leading to improved health outcomes and a reduction in healthcare costs. As more people purchase diabetes medication, the demand for cardiometabolic drugs is expected to increase, driving market growth.
Global Cardiometabolic Drugs Market: Regional Overview
The global cardiometabolic drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
An Increase in the Number of Cardiac Diseases to Drive Growth in the North American Region
The cardiometabolic drugs market in the North American region is estimated to garner the largest revenue by the end of 2035 owing to the rising number of people suffering from cardiovascular diseases, such as hypertension and diabetes, in this region. Heart disease is the most common cause of mortality in the United States. The United States has a cardiovascular disease epidemic, with one person dying every 34 seconds. As of 2020, the United States had 697,000 deaths related to heart disease.
Cardiometabolic drugs are used to lower cholesterol, reduce blood pressure, and control blood sugar levels, all of which are necessary to reduce the risk of cardiovascular diseases. They can also be used to treat existing conditions that may have already caused damage to the heart or blood vessels. Additionally, the latest drug developments and manufacturing approvals are contributing to regional market growth. According to the FDA's Center for Drug Evaluation and Research (CDER), about 50 novel drugs were approved for sale in 2021. As a result, the development of novel drugs has enabled physicians to treat complex cardiovascular diseases more effectively, and the manufacturing processes have become more efficient, resulting in lower costs and faster production. Furthermore, the presence of well-established healthcare infrastructure, the availability of advanced treatments, and higher awareness about cardiometabolic diseases are contributing to the growth of the cardiometabolic drugs market in North America.
Obesity and its Prevalence, as well as Sedentary Lifestyles, are Driving Growth in the Asia-Pacific Region
The cardiometabolic drugs market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2035, owing to the increasing prevalence of lifestyle diseases, such as obesity and heart diseases, as well as the improving healthcare infrastructure in the region. The number of overweight Chinese adults has increased by more than 50%. Obesity rates among Chinese adults have also more than doubled since 2002, rising from 7% to 17% in just over two decades.
It is estimated that 50% of Chinese adults are overweight, including obese individuals. A decline in physical activity among the population as well as the adoption of high-calorie, fatty foods in traditional Chinese diets, which has contributed to the rise in obesity rates. Cardiometabolic drugs are used to address dyslipidemias, diabetes, and hypertension in order to reduce the risks associated with obesity. They can help to reduce weight, improve blood sugar and cholesterol levels, and reduce blood pressure. Additionally, governments in the Asia-Pacific region are taking initiatives to educate people about the importance of preventive healthcare and the benefits of early diagnosis and treatment of cardiometabolic diseases. This is resulting in an increasing number of people seeking medical attention, which is expected to drive the growth of the cardiometabolic drugs market in the region over the forecast period.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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Global Cardiometabolic Drugs Market, Segmentation by Drug Type
- Anticoagulants
- Antidiabetics
- Insulin Resistance Drugs
- Others
The anticoagulants segment is anticipated to hold the largest revenue by the end of 2035 backed by the increased awareness of cardiovascular diseases such as stroke, atrial fibrillation, diabetic retinopathy, and deep vein thrombosis, people are becoming increasingly concerned with their health and implementing preventative measures, giving rise to an increase in the use of anticoagulants. In people with a history of cardiovascular disease or at risk of developing it, anticoagulants can help reduce the risk of CVDs by preventing the formation of blood clots. The increased awareness and use of anticoagulants has resulted in a higher demand for these drugs, which is expected to drive the revenue of the anticoagulants segment in the coming years. Moreover, the rise in the geriatric population is expected to boost the anticoagulant segment's growth in coming years.
According to World Health Organization, by 2030, 1 out of every 6 people will be over 60 years of age. As of 2020, the number of people aged 60 and over is said to increase from 1 billion to 1.4 billion. It is estimated that the number of people aged 60 and older in the world is expected to double by 2050 (2.1 billion). The elderly population is more at risk of developing DVT owing to their weakened immune systems, so the demand for anticoagulants is expected to increase as the elderly population grows. In order to reduce the body's ability to form clots, anticoagulants are used as a treatment and prevention for deep vein thrombosis, thereby expected to drive segment growth in the coming years.
Global Cardiometabolic Drugs Market, Segmentation by Distribution Channel
- Retail Pharmacies
- Hospitals
- Online
- Others
The retail pharmacies segment is anticipated to hold the largest revenue by the end of 2035, owing to the high availability of drugs and growing awareness among people about the medications available for cardiometabolic diseases. Furthermore, the presence of a large number of retail pharmacies in different parts of the world also contributes to the growth of this segment. Approximately 58,000 retail pharmacies are operating in the U.S., and about 32% are independent pharmacies. Retail chains, supermarkets, and mass retailers account for 55% of retail prescription revenue. Moreover, retail pharmacies offer convenience and accessibility to customers, and they also provide personalized services to customers such as counseling, product information, and delivery services. Moreover, they offer discounts on the purchase of drugs and medicines, which further drives the growth of the retail pharmacy segment.
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Global Cardiometabolic Drugs Market, Segmentation by Disease
- Diabetes
- Obesity
- Hypertension
- Others
Few of the well-known market leaders in the global cardiometabolic drugs market that are profiled by Research Nester are GSK plc, Lupin Limited, Merck KGaA, Romark L.C., Pfizer Inc., Endo International plc, Bayer AG, Jazz Pharmaceuticals plc, Canopy Growth Corporation, InMed Pharmaceuticals Inc., and other key market players.
Recent Development in the Global Cardiometabolic Drugs Market
- GSK plc obtained FDA approval for its Priorix, a vaccine against mumps, measles, and rubella for children 12 months and older. This approval was based on the results of clinical trials that showed the vaccine was effective in protecting children against the three viruses. The trials also showed that the vaccine was safe, with no serious adverse effects.
- Yabao Pharmaceutical Co., Inc., based in China, acquired Lupin Limited to meet the increasing demand for pediatric-friendly drugs in the Chinese market. The acquisition will also give Yabao access to Lupin Limited's existing portfolio of pediatric-friendly drugs, which will help them to quickly meet the increasing demand.
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