Cardiovascular Drugs Market Size Will Reach USD 231.7 Billion By
New York, Aug. 16, 2022 (GLOBE NEWSWIRE) — According to Precedence Research, the cardiovascular drugs market The size was 162.64 billion in 2022. Rapid modernization has increased the consumption of fast foods and unhealthy lifestyles, which has increased the number of cases suffering from cardiovascular disorders. Lack of physical activity in people due to a busy schedule increases the rate of cardiovascular disorders. This leads to an increase in demand and supply of essential cardiovascular drugs which prove to be life-saving for patients. Many cardiovascular disorders require palliative treatment which is helping to boost the market.
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Cardiovascular medications cannot be easily discontinued by a patient as it requires good judgment of the patient’s heart health, which can prove fatal in the long run. Therefore, cardiovascular drugs are finding an important place in the healthcare industry market.
The North American market has witnessed the highest growth due to the large number of populations suffering from cardiovascular diseases. The increasing prevalence of hypertension in people along with obesity has led to many cardiovascular disorders. The Asia-Pacific region has proven to be the fastest growing market for cardiovascular drugs due to the large number of people with hypertension. Obesity is another factor that leads to cardiovascular disorders that drive the sales of cardiovascular drugs.
The European market has seen tremendous growth due to the large number of elderly people in this region. The presence of the genetic population automatically propels the demand and supply chain of the cardiovascular drug market.
- Based on drug type, anti-hypertensive drugs dominated the segment due to its high demand in the market due to the habitual consumption of consumers which cannot be interrupted under any circumstances. The large number of people with hypertension has boosted this market.
- Based on the indication of the disease, the hypertension sector led the segment due to its huge prevalence among the population, including the youth. Hyperlipidemia also provides a huge market due to the unhealthy lifestyle of the people.
- Based on end users, the hospital sector has seen the strongest growth because it is the first place a patient goes in an emergency. The use of high-grade life-saving drugs and drugs is helping the cardiovascular drug market to show significant growth.
- Based on geography, the North American market has witnessed tremendous growth due to the large number of cardiovascular patients present in this region. The use of advanced drugs has increased the lifespan of people with cardiovascular disorders, which has kept the demand and supply of essential drugs alive.
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|Market size in 2021||$155.6 billion|
|Revenue forecasts by 2030||$231.7 billion|
|CAGR||4.52% from 2022 to 2030|
|Highest income holder||North America|
|Fastest growing region||Asia Pacific|
|Year of reference||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|
The growing number of people in the geriatric age group has boosted the sales and demand for cardiovascular drugs. The increasing number of chronic diseases among the population has boosted the sales and demand for cardiovascular drugs. There are a number of chronic diseases that only require palliative treatment and cannot be cured permanently. As a result, the use of cardiovascular drugs has increased to a large extent. The main growing problems of hypertension and cholesterol have increased the number of patients suffering from 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 over the forecast period.
The high cost associated with the use of cardiovascular drugs has hampered the growth of the market. Strict government guidelines and standards regarding the use of cardiovascular drugs have hampered the growth of the market. The number of side effects and complications caused by cardiovascular drugs has hampered sales and demand. Growing health awareness has hampered the demand for cardiovascular drugs. With the onset of the pandemic, people started to take care of their health, and as a result, the number of people requiring emergency cardiovascular drugs decreased. These multiple reasons are proving to be restrains for the growth of the cardiovascular drugs market.
The large number of people suffering from obesity and cholesterol has increased the risk of cardiovascular disorders. The use of emergency drugs is generally observed in hospitals on a regular basis, which has proven to be a great opportunity for market growth. A large number of patients undergo palliative treatment in order to deal with chronic diseases which proves to be a constant sell for the market which keeps the revenue flowing. The number of people with hypertension has also increased the use of cardiovascular drugs.
Anticoagulants are demanded by the market on a large scale due to the increase in cardiovascular disorders. The increase in the life expectancy of the geriatric population has boosted the sales of cardiovascular drugs. The growing prevalence of cardiovascular disorders among young people has boosted sales of these life-saving drugs. Blood pressure medications cannot be easily discontinued, which helps maintain demand and supply for these medications. These multiple reasons offer great opportunities to the market.
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Rising awareness among the population about the health risks of chemically formulated drugs has hampered the growth of the cardiovascular drug market. Rising side effects of cardiovascular drugs have also challenged the growth of the market. Numerous standards imposed by the government regarding the expiration of essential drugs have imposed a challenge for the growth of the market. The high cost associated with cardiovascular drugs makes it affordable for the poor residing in developing countries, which hampers the growth of the market over the forecast period.
- In January 2019 – Natco Pharma which is an Indian company. Natco Pharma disclosed the discovery of valsartan-sacubitril. It is a cardiovascular drug that is used in the treatment of congestive heart failure. The patent is owned by Novartis AG under the name Vymada.
By type of drug
- Anti coagulants
- Antiplatelet drugs
By disease indication
- coronary artery disease
By drug classification
By mode of purchase
By end users
- Hospital pharmacies
- Online pharmacies
- Retail pharmacies
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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