The global cardiovascular drugs market size is set to touch USD 63.96 billion by 2026, exhibiting a CAGR of 3.8% during the forecast period. Increasing incidence of cardiovascular disorders will be one of the central driving forces of growth for this market in the next decade. According to the Global Burden of Disease Study 2017, cardiovascular disorder (CVD) is the most common chronic disease, killing around 17.8 million people annually. Of these, close to 82% of the deaths occur in low and middle-income countries. The World Health Organization (WHO) estimates that 80% of CVD deaths are caused by heart attack and strokes. These diseases also carry a heavy economic burden. For example, the American Heart Association estimates that by 2035, medical costs associated with CVD will hit USD 749 billion. Thus, there is a grave need to find effective medication to treat these conditions, augmenting the cardiovascular drugs market growth.
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Fortune Business Insights, through its report, 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 (Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies, Others) and Regional Forecast, 2019 -2026”, brings out a comprehensive analysis of the factors and dynamics that are likely to influence the share, size, and overall growth of the market during the forecast period. The report also provides a thorough research into the general industry trends that will enable competitors in this market to take well-informed business decisions.
some of the key players in the global cardiovascular drugs market:
- Merck & Co., Inc.
- Pfizer Inc.
- Hoffmann-La Roche Ltd.
- Janssen Pharmaceuticals, Inc.
- Bristol-Myers Squibb Company
- Bayer AG
- Novartis AG
- Gilead Sciences, Inc.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/cardiovascular-therapeutics-market-100379
Rising Demand for Effective Treatment Drugs to Stir Innovation
One of the leading cardiovascular drugs market trends is the steady spread of awareness about the effects of CVDs. This is causing an upsurge in the demand for CVD drugs, a need that is being bolstered by rising pollution levels and an increasingly sedentary lifestyle. The response from the industry has been positive as many companies are coming out novel drugs to cure such conditions as effectively as possible. For instance, Bristol-Myers Squibb and Pfizer jointly developed Eliquis, a low-risk cardiovascular drug that was rapidly adopted by patients and doctors alike. These developments are expected to vastly enhance the potential of this market in the near future.
Key Segmentation of Cardiovascular Drugs Market:
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)
High Incidence Rate of Risk Factors to Fuel the Market in North America
North America generated a revenue of USD 21.89 billion in 2018 and is anticipated to continue its dominance of the cardiovascular drugs market share in the forecast period. The main factors driving the market include increasing prevalence of risk factors such as obesity and diabetes that are associated with cardiovascular conditions, presence of large companies, and growing incidence of CVDs in the region. In Asia-Pacific, the growth rate is expected to be impressive owing to the rising awareness about chronic conditions and fast-climbing disposable income in the region. With cardiovascular diseases being one of the primary reasons for death in the region, Europe is also foreseen to register a considerable growth during the forecast period. In Latin America, Africa, and the Middle East, the market will be primarily driven by the rising incidence of cardiovascular diseases.
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