Fort Collins, Colorado, Oct. 10, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the cardiovascular drugs market size was valued at USD 147.7 Billion in 2022 and is expected to reach USD 186.1 Billion by 2032 exhibiting a CAGR of 2.4%.
The high prevalence of kidney disorders, diabetes due to changing lifestyles, and changes in eating habits are accelerating cardiovascular diseases in young adults. The global presence of cardiovascular diseases bolsters the cardiovascular drug market. The increase in the geriatric population with cardiovascular diseases increases the demand for regular cardiovascular drugs such as antihypertensive and blood thinners. In addition, some cardiovascular drugs, such as antihypertensive, are to be administered daily to control blood pressure, thereby increasing regular drug consumption. These are the driving factors for the growth of the cardiovascular drugs market.
Emergency drugs such as bisoprolol digoxin are used in hospitals on a large scale during emergencies such as heart attack, congestive heart failure, and atrial fibrillation. This provides opportunities for pharmaceutical companies to develop emergency drugs as the World Health Organization (WHO) has listed them as essential medicines. An increasing life expectancy of the senior population and the early detection of cardiovascular diseases provide the scope for the R&D of cardiovascular drugs.
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Segmentation Overview:
The global cardiovascular drugs market has been segmented into product type, disease, distribution channel, and region. North America dominated the market with the largest market share in 2022. This is due to the increasing prevalence of cardiovascular diseases in North America. According to the Centers for Disease Control and Prevention (CDC), one in every five deaths occurs in the U.S. due to cardiovascular diseases.
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Cardiovascular Drugs Market Report Highlights:
- The global cardiovascular drugs market growth is anticipated at a CAGR of 2.4% by 2032.
- The cardiovascular drugs market growth is significantly driven by the rising incidences of cardiac arrests in the population.
- Anticoagulants dominated, accounting for the largest market share in 2022 and contribute to thrombosis management.
- Antihypertensives are the fastest-growing segment. An increasing prevalence of hypertension in low and middle-income countries is a driving factor for the segment growth.
- Hypertension dominated the market with a high share in 2022. This is due to the increasing prevalence of hypertension over the years.
- Some prominent players in the cardiovascular drugs market report include Bristol-Myers Squibb Company, Pfizer Inc., Bayer AG Janssen Pharmaceuticals, Inc., AstraZeneca, Sanofi, Novartis AG, Merck & Co., Inc., Gilead Sciences, Inc., and F. Hoffmann-La Roche Ltd.
Industry Trends and Insights:
- In 2023, allied health professionals, academia, and global health think-tank collaborated to launch Asia Pacific Cardiovascular Disease Alliance to improve heart health and reduce premature deaths due to cardiovascular diseases.
- In 2023, Novo Nordisk has partnered with Valo Health and paid USD 60 million upfront to cover three preclinical cardiovascular disease programs.
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Cardiovascular Drugs Market Segmentation:
- By Product Type: Antihypertensive, anticoagulants, antihyperlipidemic, antiplatelet drugs, and others.
- By Disease: Hypertension, hyperlipidemia, coronary artery disease, arrhythmia, and others.
- By Distribution Channel: Hospital pharmacy, retail pharmacy, and online pharmacies
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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