Cardiovascular Drugs market
Global Cardiovascular Drugs Market – Drivers, Restraints, Opportunities, Trends, and Forecasts: 2018–2024
Overview: Cardiovascular drugs are agents used for the treatment of diseases associated with the circulatory system, which include blood clots, stroke, coronary artery disease, variation in blood pressure, arrhythmias, high cholesterol, and heart failure. Increasing aging population, increasing prevalence of cardiovascular diseases, high incidence of obesity, and an unhealthy lifestyle are driving the demand for cardiovascular drugs. Complex drug development process and adverse effects of cardiovascular drugs are hampering the growth of the market. There is a constant increase in the incidence of cardiovascular diseases. According to WHO, in 2015, approximately 17.7 million people died due to various cardiovascular diseases. Increase in expenditure for R&D of novel cardiovascular drugs and increased government initiatives to raise the alertness of different types of cardiovascular conditions are expected to drive the market growth. Additionally, variation in lifestyle has increased the prevalence of the obesity, which has further led to the increase in the incidence of cardiovascular disorders globally. Nevertheless, the rigorous regulatory approval process for drugs, high treatment cost, and side effects related to cardiovascular drugs are hindering the progress of the market.
Market Analysis: The global cardiovascular drugs market is estimated to witness a CAGR of 2.8% during the forecast period 2018–2024. The market is analyzed based on two segments: product types and regions.
Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). North America accounts for the largest share, followed by Europe, Asia Pacific, and Rest of the World. More than 60% of the market is occupied by North America, with the US being the major contributor to the market growth.
Product Analysis: Based on types, the market is segmented into anti-hypertensives, anti-hyperlipidemics, anticoagulants, antiarrhythmics, and others. Cardiac glycosides, antianginal drugs, anti-fibrinolytic, and anti-ischemic drugs are the other key product types in the market. The market is dominated by anti-hypertensives.
Key Players: Novartis AG, Sanofi, Bayer AG, Johnson & Johnson, Astra Zeneca PLC, and Pfizer are the key players in the market. The other prominent players in the market include Daiichi Sankyo, Inc., Bristol–Myers Squibb, GlaxoSmithKline plc, United Therapeutics Corp., Sun Pharmaceuticals, Eli Lilly and Company, Takeda Pharmaceutical Co., Ltd., Boehringer Ingelheim GmbH, and Gilead Sciences, Inc.
Competitive Analysis: Mergers & acquisitions, approval of new drugs, and product launch are the primary strategies followed by various players in the market to increase their revenue. In March 2017, Espero Pharmaceuticals, Inc., a privately held company in commercial-stage cardiovascular pharmaceutical and Armetheon, Inc., a private company in late-clinical stage pharmaceutical have planned to merge. J&J, a major company in the cardiovascular drugs market established its footprints in this sector in 2008 with the approval of Xarelto in the US. Currently, in 2016, Xarelto earned revenue of ~$2.5 billion and is anticipated to rise to ~$3.5 billion by 2024. In January 2017, J&J acquired Actelion and added Uptravi & Opsumit to its portfolio, which are expected to secure the market leadership of the company. Warfarin by Epocrates, Inc. is struggling to maintain the market share from a stable rivulet of new products such as Xarelto, Pradaxa, Eliquis, and Savaysa.
Benefits: The report provides complete details about the usage and adoption rate of cardiovascular drugs in various regions. With that, key stakeholders can know about the major trends, drivers, investments, and vertical player’s initiatives. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about key business opportunities to key stakeholders to expand their business and capture the revenue in specific verticals to analyze before investing or expanding the business in this market.
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