The Cardiovascular drug market studied was anticipated to grow with a CAGR of nearly 3.8% during the forecast period. The major factors driving the growth of the market are the rising global prevalence of various coronary heart diseases such as stroke, cardiomyopathy causing a global burden of cardiac deaths and favorable reimbursement initiatives. For instance, according to the Global Health And Wellness Report published in 2018, nearly 40% of the adult population in the United States were diagnosed with a cardiovascular condition in the United States which directly resulted in a higher demand for highly efficient and immediate treatment. Also, the 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 the life of the patients are expected to further boost the growth of the global cardiovascular drugs market revenue throughout the forecast period.
Key Market Trends The Anti-coagulants in the Drug Class Segment are Expected to Hold the Largest Market Share in the Cardiovascular Drugs Market
Anticoagulant drugs are expected to witness the largest market share in the cardiovascular drugs market during the forecast period. This dominance is due to the increased use of these drugs in various cardiac indications owing to their ability to reduce the risk of stroke and blood clots in people with atrial fibrillation, deep vein thrombosis (DVT), and pulmonary embolism (PE). Furthermore, the increased prescriptions by the physicians and patient acceptance due to their proven efficiency in managing coronary artery disease (CAD) and peripheral artery disease (PAD) which are the major cause of cardiac strokes and death contributing a significant market revenue. On the other hand, anti-arrhythmic drugs are expected to lose the market due to rise in the adoption of medical devices such as defibrillators and cardiac resynchronization therapy (CRT) pacemakers in recent years due to their automated acute hemodynamic response based on real-time changes in a patient’s cardiac condition. In contrast, anti-hypertensives are anticipated to witness the fastest growth in the forecast period due to rising awareness among the patients and their rapid use in prevention of severe complications such as stroke and myocardial infarction propelling the market growth across the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America is expected to dominate the overall cardiovascular drug market throughout the forecast period. The major factors attributing to the growth are deskbound lifestyle lacking physical activity, lack of proper diet, anxiety, and stress resulting in chronic diseases such as diabetes & obesity leading to rising in the prevalence of multiple cardiovascular diseases like CAD, strokes and atrial fibrillation in the United States necessitated the efficient CVD treatment. For instance, according to The American Heart Association, in 2018, nearly 92.1 million individuals in the U.S. suffered from cardiovascular diseases among which CAD was the major cause of death resulted in higher demand for better treatment with efficient medication driving the market in the United States contributing to the outstanding share of revenue propelling the global cardiovascular drugs market throughout the forecasted period.
Competitive Landscape The cardiovascular drugs market is moderately competitive and consists of several major players. Few of the key players are developing the novel product and technologies to compete with the existing products while others are acquiring and partnering with the other companies trending in the market. For instance, in May 2019, Pfizer Inc received approval from the U.S. Food and Drug Administration (FDA) for its two oral formulations VYNDAQEL and VYNDAMAX, the first and only medicines indicated for the treatment of the cardiomyopathy of wild-type or hereditary transthyretin-mediated amyloidosis (ATTR-CM) in adults to reduce cardiovascular mortality and cardiovascular-related hospitalization which is further expected to foster the global cardiovascular drugs market growth throughout the forecast period. Some of the companies which are currently dominating the market are C. H. Boehringer Sohn AG & Co KG, Amgen Inc, Baxter International Inc, Pfizer Inc, and Novartis AG.
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