The rise in the prevalence of cardiovascular disease among the population worldwide is rising the development of the market for heart failure medications.
Heart Failure Drugs Market
Heart Failure Drugs Market is anticipated to register a 17.79% CAGR to reach USD 13.06 billion by 2025.
The rise in the prevalence of cardiovascular disease among the population worldwide is rising the development of the market for heart failure medications. Growing the demand for these medications as they treat multiple symptoms of the condition and patients’ reliance on these drugs accelerates the development of the market for heart failure drugs. Lifestyle changes, such as heavy consumption of alcohol, smoking and poor eating patterns, cause heart attacks that drive the demand for heart failure drugs. Growing investments by major players and increasing the amount of R&D operations are affecting the demand for heart failure drugs. In addition, the rise in the prevalence of heart attacks due to obesity and lack of physical exercise raises the demand for heart disease medications.
Heart failure condition has inspired drug makers to seek improved therapeutic solutions, largely because, due to extremely high diagnosis rates worldwide, the drugs they formulate would be well received in this mounting market. Factors that make people more vulnerable to arrhythmias and cardiac disease are driving the growth of the industry, such as growing cases of coronary diseases, increasing geriatric population, and continuously evolving lifestyle patterns.
For the past year, COVID-19 has witnessed heart disease as the leading cause of mortality. This fact has prompted many health companies to find creative and ingenious ways to treat heart disease.
Global Heart Failure Medications has been segmented on the basis of Type, and End User.
The market, based on type, has been segmented into Beta-Blockers, ACE Inhibitors, Angiotensin-Receptor Neprilysin Inhibitors (ARNI), Angiotensin Receptor Blockers (ARBs), Diuretic, and others. The ACE inhibitors segment is projected to dominate global heart failure treatment market by the end of 2025, expanding at a significant CAGR during the forecast period.
The global heart failure drugs market, by end-user, has been segmented as hospitals, specialty centers, and others. The hospital pharmacy segment is touted to hold a prominent share of the market by the end of 2025.
The largest demand for heart disease medications has become the international market in the Americas. The rise of the heart disease drug market in the Americas is attributed to the increased incidence of coronary diseases, increased spending on healthcare, and increased cases of obesity. In addition, lifestyle behaviors that are rapidly evolving, such as heavy alcohol intake, unhealthy eating habits, smoking, obesity, and lack of physical activity, make people more vulnerable to arrhythmia and heart disease, thereby pushing the development of the regional market.
The next big market for heart disease medications is Europe. Due to rising cardiovascular conditions and swelling tobacco smoking populations, a positive growth rate is projected to be reported during the forecast era. The intensification of the older population in the European Union is also compelling the demand for heart disease medicines in the European region. In addition, by the end of 2026, the increasingly growing geriatric population, which is more likely to suffer from heart disease in countries such as the United Kingdom, Germany, and France, is likely to lead to these regions’ large market share.
Due to the increasing patient pool and growing technical advances, the Asia Pacific region is expected to reflect the uppermost market growth potential over the forecast period. The Asia Pacific heart failure therapeutics market is also expected to expand rapidly due to the huge pool of heart failure patients in densely populated countries such as India and China, Japan’s large geriatric population base, and the rapidly developing health care sector in emerging countries. Increases in health care spending per capita, the rapidly increasing biopharmaceutical industry and numerous government measures to support health care in developing countries are expected to drive the growth of the Asia Pacific heart failure therapeutics market during the forecast period.
Market Research Future (MRFR) recognizes Amgen Inc. (US), AstraZeneca (UK), Novartis AG (Switzerland), Boehringer Ingelheim International GmbH (Germany), Johnson & Johnson Services, Inc. (UK), Bristol-Myers Squibb Company (US), Merck Sharp & Dohme Corp. (US), Pfizer, Inc. (US), and Gilead Sciences, Inc. (California) as the Key Players in the Global Heart Failure Drugs Market.
Companies participate in mergers and acquisitions to improve their product portfolio and to expand their geographical footprint in the respective regions. The pattern of new product creation and commercialization among the leading players operating in the global market has risen in recent years.
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