LONDON, Oct. 19, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Atherosclerosis Drugs Global Market Report 2023, the global atherosclerosis drugs market is poised for significant growth in 2023, with a projected value of $48.72 billion, marking a steady Compound Annual Growth Rate (CAGR) of 3.9% from the previous year. Further, the atherosclerosis drugs market is expected to reach $54.89 billion in 2027 at a CAGR of 3%.
Rising Prevalence of Cardiovascular Diseases Fueling Market Growth
Cardiovascular diseases are on the rise globally, posing a serious threat to public health. Among these diseases, atherosclerosis, characterized by the accumulation of plaque in the arteries, leads to conditions like coronary heart disease and stroke. Recent statistics further highlight the urgency of addressing this issue. For instance, a report by The Office for National Statistics in March 2022 revealed that in the UK, over 19,000 individuals succumbed to heart attacks between 2020 and 2021. These alarming figures underscore the critical need for innovative atherosclerosis drugs to combat this growing health concern.
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Major Industry Players
Leading the charge in the atherosclerosis drugs market are distinguished companies such as Johnson And Johnson Private Limited, Pfizer Inc., F. Hoffmann-La Roche AG, AbbVie Inc., Bayer AG, and several others.
Product Innovation Drives Market Evolution
One of the key trends driving the atherosclerosis drugs market is product innovation. Major pharmaceutical companies are actively pursuing the development of innovative drugs and obtaining regulatory approvals to secure their market positions. For example, in December 2021, Novartis AG achieved a milestone with the US Food and Drug Administration (FDA) approval of Leqvio (inclisiran), a pioneering siRNA-based drug for reducing cholesterol and treating atherosclerotic cardiovascular disease.
Regional Dynamics
In 2022, North America emerged as the largest region in the atherosclerosis drugs market, while Asia-Pacific is expected to witness the fastest growth in the forecast period, underlining the global significance of this health concern.
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Market Segmentation
The global atherosclerosis drugs market is comprehensively segmented into drug classes, routes of administration, and distribution channels, offering a comprehensive overview of the market landscape:
- By Drug Class: Anti-Platelet Medications, Fibric Acid And Omega-3 Fatty Acid Derivatives, Angiotensin-Converting Enzyme (ACE) Inhibitors, Diuretics, Cholesterol Lowering Medication, Beta Blockers, Calcium Channel Blockers, Other Drug Classes
- By Route Of Administration: Oral, Injectable
- By Distribution Channel: Hospital Pharmacies, Online Pharmacies, Retail Pharmacies, Other Distribution Channels
The "Atherosclerosis Drugs Global Market Report 2023" provides an in-depth analysis of the market's current state, future prospects, and emerging trends. It is a valuable resource for industry players, pharmaceutical companies, healthcare professionals, and stakeholders seeking to make informed decisions in the evolving landscape of atherosclerosis drug development and treatment. By leveraging the insights presented in this atherosclerosis drugs market report, industry participants can navigate this dynamic market, identify growth opportunities, and contribute to the global effort to combat the prevalence of cardiovascular diseases.
Atherosclerosis Drugs Global Market Report 2023 by The Business Research Company provides insights on the atherosclerosis drugs market size, atherosclerosis drugs market segments, atherosclerosis drugs market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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