According to the deep-dive market assessment study conducted by Growth+ Reports, the global cardiovascular drugs market was pegged at ~US$ 50.3 billion in 2021. The market is expected to witness a CAGR of ~3.60 % from 2020 to 2030.
The global cardiovascular drugs market is being propelled by factors such as the rising incidence of heart disorders, expanding drug development research, and increasing reimbursement regulations. However, the market is constrained by factors such as usage of cardiac devices like pacemakers for treatments.
The rising prevalence of cardiac diseases is the major factor contributing the growth of cardiovascular drugs market. This rising incidence of cardiac conditions is due to high blood pressure, high LDL (low density lipoprotein) cholesterol, diabetes, obesity, poor nutrition, and inactivity. High blood pressure or hypertension forces the heart to pump blood harder than usual which damages the cardiac muscles and can increase the risk of heart attack and heart failure. The low-density lipoprotein or LDL, is a significant contributor to heart disease. Arteries in heart develop fatty deposits as a result of LDL, which reduces or blocks the blood and oxygen for its functioning, which can lead to chest discomfort and heart attacks may result from this. Obesity is linked to an increased risk of developing cardiovascular diseases (CVD), especially coronary heart disease and heart failure. Obesity includes modifications of body fat compositions, which impacts hemodynamics and alter the anatomy of the heart.
As cardiac diseases are increasing and is one of the most common causes of death, many significant advancements have occurred in past few decades. For, instance The U.S. Food and Drug Administration authorized Farxiga (dapagliflozin) oral tablets in May 2020, for individuals with heart failure and a decreased ejection fraction. This drug lowers the risk of cardiovascular mortality and heart failure hospitalization.
While research on stem cells focuses on examining the possibility for heart regeneration, some other research advances such as research on nanotechnology and nano-drug delivery have shown new advances and it focuses on percutaneous coronary procedures, including stent modifications and coatings.
As the cost of cardiovascular drugs are rising, it has raised concerns about affordability and accessibility. PLR (performance linked reimbursement) is a suggested approach for addressing the high costs and benefits of novel medications. PLR agreements are quite appealing to manufacturers and customers. These practices are meant to verify that the payers are paying proper amount for their therapy benefits.
Geographically, the global cardiovascular drugs market is segmented into North America, Europe, Asia Pacific, and Rest of the world. The North America has dominated the global market due to high patient pool of cardiovascular diseases. According to the CDC (Centers for Disease Control and Prevention), about 805,000 Americans get a heart attack each year. 605,000 of these are first-time heart attacks, while the rest occur in those who have already experienced one. Other factor influencing the growth of the global market in this region is strong presence of major market players. For instance, on May 2019 VYNDAMAX a drug by Pfizer was approved to treat cardiomyopathy, it also lowers the cardiovascular mortality and hospitalisation for cardiovascular conditions. The European market for cardiovascular drugs is characterised by increasing treatment incidences for cardiovascular diseases, and rising obesity in this region. According to a WHO report published in 2022, in Europe, cardiovascular diseases (CVD) continue to be the number one cause of death, accounting for 45 percent of all fatalities. In Europe, coronary heart disease (CHD) and stroke account for the majority of the more than 4 million annual CVD deaths. Asia Pacifc is also anticipated to show lucrative growth in the projected period due to increased obesity, sudden shifts in lifestyles, and hypertension. Many Asian countries, have a high prevalence of hypertension, leading to majority of CVD deaths in these nations.
Some of the prominent companies operating in the global cardiovascular drugs market are Amgen Inc., Baxter International Inc., Bristol-Myers Squibb Company, F. Hoffman-La Roche Ltd., GSK Plc., Johnson & Johnson services, Inc., Merck & CO., Inc. (MSD), Pfizer Inc., Sanofi SA, Bayer AG, Lupin Ltd.
This report entails a thorough quantitative analysis of the trends from 2022 to 2030 in the global cardiovascular drugs market. The global cardiovascular drugs market has been analyzed from three perspectives: by drugs class, by indications, and by region. The drug class segment is further divided into anti-hypertensives, anti-coagulants, and anti-hyperlipidemic drugs. The indication segment is further grouped into hypertension, arrhythmia, coronary artery disease and, hyperlipidemia