Pune, Sept. 16, 2020 (GLOBE NEWSWIRE) — Global cardiovascular drugs market is projected to reach USD 63.96 billion by 2026, exhibiting a CAGR of 3.8% during the forecast period. The increasing prevalence of heart stroke and cardiovascular diseases is one of the key reasons for the growth of the cardiovascular drugs market.
According to the American Heart Association, Cardiovascular disease (CVD) accounted for 840,678 deaths in the US in 2016, approximately 1 of every 3 deaths. Also, between 2013 and 2016, 121.5 million American adults had some form of cardiovascular disease. These cardiovascular drugs market trends, along with the innovation and development of new drugs, will foster the growth of the market.
Moreover, In 2014, a study was conducted by the American Heart Association, cardiovascular disease accounted for more than 17.6 million deaths per year in 2016 and is likely to grow to more than 23.6 million by 2030.
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Highlights of the Report:
- Analysis of the impact of Covid-19 that the market would face in the near future.
- In-depth analysis of the growth drivers and obstacles.
- Profile of all the companies operating in the market.
- Elaborate data about the dominating region.
- Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
As per the report, published by Fortune Business Insights, titled “Cardiovascular Drugs Market Size, Share & Industry Analysis, By Drug Type (Antihypertensive, Antihyperlipidemic, Anticoagulants, Antiplatelet Drugs, Others), By Disease Indication (Hypertension, Hyperlipidemia, Coronary Artery Disease, Arrhythmia, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others) and Regional Forecast, 2019-2026” the market was at USD 47.29 billion in 2018.
The report offers dynamic insights into the global cardiovascular drugs market, covering growth prospects, market development potential, supply and demand, profitability, and other important aspects. It is considered to be reliable source of information along with the data on the market trends.
The researchers and analysts have prepared it with an advanced research methodology and authentic primary and secondary sources of market statistics and data. Readers are provided with a clear understanding of the current and future situations of the market based on revenue, shares, trends, technology, advancements and innovations, prevailing factors and restricting factors.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
To get the short-term and long-term impact of COVID-19 on this Market.
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Growing Need for Advanced and Effective Drugs to Propel Growth
The increasing demand for effective drugs and therapy is expected to aid the growth of the market. The rising R&D investment for innovative drugs and cardiovascular therapeutics will further accelerate the growth of the market. The launch of novel therapies by key players is likely to create growth opportunities for the market.
For instance, Novartis AG and Blackstone’s Life Sciences announced the launch of Anthos Therapeutics for the development of cardiovascular drugs as there are large unmet needs for next-generation anti-thrombotic therapies in patients.
New Product Launches will Propel Growth
India based Natco Pharma announced the launch of the generic version of valsartan-sacubitril, a cardiovascular drug for the treatment of congestive heart failure. Novartis AG holds the patent in India for valsartan-sacubitril called Vymada. The launch of the new drug will create growth opportunities for the market in the foreseeable future.
Furthermore, increasing awareness regarding cardiovascular health and the surge in product launches will boost cardiovascular drugs market growth. The introduction of several advanced drugs addressing the diverse treatment needs of cardiovascular diseases will further bolster the growth of the market.
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For instance, Bristol-Myers Squibb Company and Pfizer Inc. introduced a cardiovascular drug called Eliquis (apixaban), which now has the highest sales and is demonstrated to be superior in terms of risk reductions compared to other drugs in the market.
Some of the Major Companies Present in the Global Cardiovascular Drugs Market Include:
- Bristol-Myers Squibb Company
- Pfizer Inc.
- Bayer AG
- Janssen Pharmaceuticals, Inc.
- Novartis AG
- Merck & Co., Inc.
- Gilead Sciences, Inc.
- F. Hoffmann-La Roche Ltd
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Cardiovascular Drugs Market Segmentations:
By Drug Type
• Antiplatelet Drugs
By Disease Indication
• Coronary Artery Disease
By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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