Market Research

Growth of Global Cardiovascular Drugs Market Relies on Investments in Medical Research

Apr 30, 2020 8:29 PM ET
iCrowd Newswire – Apr 30, 2020

Cardiovascular diseases (CVDs) comprise disorders and conditions related to circulatory system which include heart and vascular system. The global cardiovascular drugs market was valued approximately US$ 80.0 Bn in 2016 and is anticipated to register CAGR of over 1.0% from 2017 to 2025 to reach value of approximately US$ 91.0 Bn by 2025. Drug classes used to treat cardiovascular indications such as hyperlipidemia, hypertension are likely to fuel expansion of the global cardiovascular drugs market from 2017 to 2025.

Cardiovascular diseases are one of the leading causes of death worldwide. According to American Heart Association, in 2015, approximately 41.5% of the U.S. population was suffering from some form of cardiovascular disease, it is further estimated that this prevalence is likely to increase to 45% by 2035. Sedentary lifestyle, changing dietary habits and surge in associated risk factors are likely to increase the number of patients with cardiovascular diseases. According to the Centers for Disease Control and Prevention (CDC) of the U.S., high blood pressure, high cholesterol, and smoking are key risk factors for heart disease. About half of the population of the U.S. (47%) have at least one of these three risk factors. To treat the diseases, key players are investing in to develop new drugs with better efficacy and less side effects. Launch of PCSK9 inhibitors (Praluent) for treating hyperlipidemia in 2016 is likely to fuel expansion of anti-hyperlipidemia drugs market segment by 2025 augmenting global cardiovascular drugs market. However, recent expiry of patent exclusivity of blockbuster cardiovascular drugs has led to plethora of generic drugs which is likely to hamper global cardiovascular drugs market.

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There are many unmet needs in global cardiovascular drugs market which create huge opportunities for existing players and new entrants in global market. Biologics provide ample opportunities for players operating in the global cardiovascular drugs market. Recent developments in biologic cardiovascular drugs such as Pfizer’s PCSK9 inhibitor, Esperion Therapeutics’ novel LDL-lowering drug ETC-1002 and Merck’s CETP inhibitor anacetrapib, uncovers the potential of these drugs. Blockbuster drugs are losing their patent exclusivity which has set a trend to introduce generics in market by local as well as international players. For instance, Crestor launched by Astrazeneca and indicated for the treatment of hyperlipidemia, lost patent in early 2016 and in April 2016, the U.S. FDA approved first generic to this drug to Watson Pharmaceuticals Inc.

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The global cardiovascular drugs market has been segmented on the basis of drug class, indication, distribution channel and geography. Among drug class, anti-clotting agents segment is projected to lead the market and is expected to continue its dominance during the forecast period followed by anti-hyperlipidemia segment. Introduction of new anti-hyperlipidemia drug such as PCSK9 Inhibitor (Praluent) and increasing incidences of hyperlipidemia is likely to propel expansion of the segment. Among indications, hypertension was the leading revenue generating segment in 2016 and it is likely to continue its dominance during the forecast period. Arrhythmia segment of indication is likely to lose its market share during the forecast period owing to shift of preference from anti-arrhythmia drugs to advanced implantable cardiovascular devices such as pacemakers. Among various distribution channels, retail pharmacies was the leading distribution channel in 2016 and is likely to account for leading share during the forecast period.

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Geographically, North America captured lion’s share of global cardiovascular drugs market in 2016. However increasing adoption of generics in the U.S. is key concern area among key players. Asia Pacific market is projected to gain market share during the forecast period and is likely to be key revenue generator in the coming years. Initiatives by local governments to attain self-sufficiency in manufacturing pharmaceuticals and incentives  for generic production in countries such as Brazil, South Africa, Saudi Arabia, etc. is likely to boost market growth in Latin America and Middle East & Africa.

Key companies operating in the global cardiovascular drugs market and profiled in the report include AstraZeneca plc., Bayer AG, Merck & Co., Inc., Sanofi, Pfizer, Inc., Eli Lilly & Company among others. These players are adopting organic and in-organic growth strategies to expand their product offerings, strengthen their geographical reach, increase customer base and garner market share. For instance, in December 2015, AstraZeneca acquired ZS pharma which added pipeline biological drug for chronic heart failure to AstraZeneca’s existing cardiovascular drugs pipeline. In another instance, in 2016, Sanofi launched new cardiovascular drug Praluent for treatment of hyperlipidemia.

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Keywords:    Global Cardiovascular Drugs Market

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