New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Beta Blockers Global Market Report 2023" - https://www.reportlinker.com/p06486551/?utm_source=GNW
, Sun Pharmaceutical Industries Ltd., Amneal Pharmaceuticals LLC., Abbott Laboratories, Eagle Pharmaceuticals Inc, Neon Healthcare Ltd, Midas Pharma GmbH, Global Calcium PVT LTD, and AbbVie Inc
The global beta blockers market is expected to grow from $8.55 billion in 2022 to $9.16 billion in 2023 at a compound annual growth rate (CAGR) of 7.13%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The beta blockers market is expected to reach $11.54 billion in 2027 at a CAGR of 5.9%.
The beta blockers market consists of sales of sales of metoprolol, nebivolol, timolol, and labetalol. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods
Beta blockers also known as beta-adrenergic blocking agents, are a class of medications commonly used to treat various cardiovascular conditions by decreasing the activity of the heart. It is commonly prescribed for blood pressure control, angina, heart failure, and a few cardiac rhythm abnormalities.
North America was the largest region in the beta blockers market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in beta blockers report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of beta blockers are non-selective agents and selective agents.Non-selective agents in the beta-blockers market refer to a class of medications that inhibit or block the effects of beta-adrenergic receptors without specificity toward any particular subtype.
These can be used to monitor multiple physiological functions, including heart rate, blood pressure, bronchial smooth muscle tone, and peripheral vascular resistance.The indications for the usage of beta blockers include angina pectoris, heart failure, high blood pressure, and others that could treated through betaxolol, acebutolol, esmolol, and others.
These are sold in hospital pharmacy, retail pharmacy, and online pharmacy that are used for treating cardiac diseases, hypertension, glaucoma, and others.
The rise in the incidence of cardiovascular diseases is expected to propel the growth of the beta blockers market.Cardiovascular diseases (CVDs) are a group of disorders that affect the heart and blood vessels.
The rise in the incidence of cardiovascular diseases is mostly driven by unhealthy diets, poor lifestyles, lack of exercise, tobacco use, and obesity, where beta blockers can help reduce cardiovascular cases by exerting several beneficial effects on the heart and blood vessels.Hence, rising cases of cardiovascular diseases are contributing to the growth of the beta blockers market.
For instance, The National Heart, Lung, and Blood Institute, a US-based Institute of the National Institutes of Health, provides training and education programs to promote the prevention and treatment of heart, lung, and blood diseases, U.S. mortality from March to August 2020, 76,767 people perished from cardiovascular disease, which affects the blood arteries that support the brain and related systems, and 339,076 people perished from heart disease. Therefore, a rise in the incidence of cardiovascular diseases will fuel the beta blockers market growth.
Product innovation has emerged as a key trend gaining popularity in the beta blockers market.Major market players operating on beta blockers market are concentrating their efforts on creating innovative products to strengthen their position in the market.
For instance, in January 2021, Merck, a Germany-based pharmaceutical company, received U.S. Food and Drug Administration (FDA) approval for a medication called VERQUVO (vericiguat). VERQUVO (vericiguat) is a medication indicated for treating heart failure with reduced ejection fraction (HFrEF) in adults. This drug helps to relax and widen blood vessels, reduce strain on the heart, and improve cardiac function.
In November 2021, Merck, a Germany-based pharmaceutical company, acquired Acceleron Pharma Inc. for an undisclosed amount. With this acquisition, Merck gained access to a diverse portfolio of potential therapies targeting various disease areas, including cardiovascular diseases and hypertension. Acceleron Pharma Inc is a US-based biopharmaceutical company that specializes in leveraging the capabilities of the transforming growth factor (TGF)-beta protein superfamily for the development of innovative treatments for cardiovascular and other diseases.
The countries covered in the beta blockers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The beta blockers market research report is one of a series of new reports that provides beta blockers market statistics, including beta blockers industry global market size, regional shares, competitors with a beta blockers market share, detailed beta blockers market segments, market trends, and opportunities, and any further data you may need to thrive in the beta blockers industry. This beta blockers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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