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The cardiovascular therapeutics market size is estimated to grow at a CAGR of 7.32% between 2022 and 2027. The cardiovascular therapeutics market size is forecast to increase by USD 37.77 billion. The growth of the market depends on several factors, including increasing risk factors for cardiovascular diseases, the availability of advanced diagnostic methods, and the rising prevalence of hypercholesterolemia.
This cardiovascular therapeutics market report extensively covers market segmentation by type (antithrombotic drugs, hypolipidemic drugs, and others), distribution channel (hospital pharmacy, retail pharmacy, and online pharmacy), and geography (Asia, North America, Europe, and Rest of World). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising prevalence of hypercholesterolemia is notably driving the market growth, although factors such as side effects associated with cardiovascular therapeutics may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising prevalence of hypercholesterolemia is notably driving market growth. The risk of developing cardiovascular diseases with an atherosclerotic origin rises with the prevalence of hypercholesterolemia, which is a modifiable risk factor for cardiovascular disease. A serious medical condition called atherosclerosis affects the arteries that carry blood to the heart. The presence of plaque within the artery wall or vessel wall is the primary cause of coronary artery disease. Plaque accumulation causes the artery walls to narrow, which reduces blood flow. Since cholesterol is the primary component of plaque, having high blood cholesterol levels makes atherosclerosis more likely to occur.
According to the CDC, 95 million US adults aged 20 years and above had high cholesterol levels (more than 200 mg per deciliter) in 2019. Moreover, 7% of the US children and adolescent population aged between 6 and 19 years had high cholesterol levels in the same year. According to the CDC, 43 million adults in the US (55% of the total adult population) are currently taking statins to reduce their elevated blood cholesterol levels. Therefore, the increased incidence of atherosclerosis caused by the rising prevalence of hypercholesterolemia is anticipated to benefit the global market for cardiovascular therapeutics during the forecast period.
A strong incidence of coronary heart disease (CHD) is an emerging trend in the market growth. The rising number of heart attacks is anticipated to boost demand for cardiovascular therapeutics, which will benefit the global market. The demand for cardiovascular therapeutics will also rise as the elderly population grows. Comorbid conditions, sleep, cognition, strength, and physical balance are factors that adversely affect a person's ability to function normally. This makes disease management more challenging in older adults (aged 65 years and above). Regarding the management of comorbid conditions, heart health, and overall health profile, maintaining physical and functional ability in older adults is difficult.
Furthermore, in the US, adults aged 45 years of age and above experienced a 10.9% incidence rate of CHD in 2019, according to the CDC. As people age, CHD incidence rates rise. In addition, men are more likely to develop CHD than women. In 2019, the incidence rate of CHD was 13.6% in men and 8.4% in women. Therefore, such factors are expected to boost the growth of the global market during the forecast period.
The side effects associated with cardiovascular therapeutics are major challenges impeding market growth. Small molecules, such as calcium channel blockers, ACE inhibitors, beta-blockers, antiplatelet agents, nitrates, and statins, which lower cholesterol, dominate the global market. Of these, statins are the main treatments for cardiovascular conditions with an atherosclerotic etiology. Statins can have potential side effects despite being therapeutically effective. For instance, ZOCOR (simvastatin), a medication used to lower cholesterol, is categorized as a statin. It is used as a supplement to diets and exercises, and it lowers the blood level of LDL cholesterol.
However, according to numerous studies, the medication can cause muscular disorders like myopathy and rhabdomyolysis, a rare condition that can result in kidney failure. The prognosis of diabetes mellitus, liver damage, and memory loss are additional side effects linked to ZOCOR. Hence, ZOCOR has been the subject of a drug recall due to these side effects. Therefore, the potential side effects of cardiovascular therapeutics will negatively affect market growth during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cardiovascular Therapeutics Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aurobindo Pharma Ltd. -The company manufactures generic pharmaceuticals and active pharmaceutical ingredients. The key offerings of the company include simvastatin medicine which is used to treat high cholesterol.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the antithrombotic drugs segment will be significant during the forecast period. The market is expanding as a result of these medications being used more frequently to treat various cardiovascular diseases. Antithrombotic medications come in a variety of dosage forms and are frequently prescribed in medical setups. A biological phenomenon called thrombogenesis denotes the development of a blood clot. It involves the two processes of coagulation and platelet aggregation. Antithrombotic medications prevent fibrin strand formation, and platelet aggregation, and dissolve the blood clot that has already formed. As a result, these medications are further divided into two groups anticoagulants and antiplatelet medications.
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The antithrombotic drugs segment was valued at USD 49.61 billion in 2017 and continued to grow until 2021. Numerous molecular targets for drugs to impart an antiplatelet effect have been identified as a result of researchers' increasing efforts to understand the phenomena of platelet activation and aggregation. As a result, doctors are now more logical while recommending antithrombotic medications, whether alone or in combination with other medications. The most frequently prescribed antiplatelet medication for the treatment of ischemic stroke and myocardial infarction is aspirin. Prior to any hepatic metabolization, it first begins to exert its antiplatelet action within the portal system. An initial dose of 325 milligrams of aspirin during an acute coronary syndrome results in the antiplatelet effect after one hour. Aspirin's antiplatelet effects can also be maintained at very low doses of up to 40 milligrams per day. Considering the high therapeutic efficacy of these drugs, shorter onset of action, and longer duration of action, these drugs are anticipated to witness high prescription rates and increased patient adherence, which will contribute to the growth of the segment during the forecast period.
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Asia is estimated to contribute 53% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in Asia will grow at a significant rate during the forecast period. The market for cardiovascular therapeutics is expanding in Asia due to factors such as the rising prevalence of heart failure-causing cardiovascular diseases, rising heart failure therapy awareness, rising adoption of cutting-edge drugs, and decreasing healthcare spending. Asia's largest market contributors include Japan, China, South Korea, and India, largely as a result of the rising prevalence of heart failure there.
Cardiovascular diseases are becoming extremely common in Asian nations. The main causes of the increase in heart disease cases in Asia are sedentary lifestyles, the high prevalence of high blood pressure, obesity, and aging. One of the most prevalent heart conditions in Asian people, ischemic heart disease eventually results in heart failure. In Asian nations, the mortality rate from heart failure has risen among the ischemic heart disease patient population. One of the best ways to reduce the risk of patients dying from their condition is through heart failure therapy. Advanced heart failure patients frequently need ventricular assist devices to prolong their lives. This, in turn, is boosting the growth of the cardiovascular market in Asia.
During the forecast period, it is anticipated that fast-growing economies like China and India will increase their demand for cardiovascular therapeutics. The market's expansion in these economies can be attributed to people's rising propensity to buy and their increasing use of cardiovascular therapeutics. Hence, the market is expected to overcome the prevailing challenges and is likely to register an accelerating growth momentum during the forecast period. In addition, the rise in the number of mergers and collaborations by key vendors to expand their product portfolio will augment the growth of the market in the region.
The outbreak of COVID-19 led to a decline in the sales of cardiovascular therapeutics in Asia in 2020. This had a negative impact on the market growth in the region in 2020. However, in 2021, the number of COVID-19 cases in the region decreased with the introduction of vaccines and large-scale vaccination drives organized by regional governments. This led to the resumption of supply chain activities by regional vendors, which resulted in the availability of various medications for both acute and chronic pain, as well as inflammation which increased the demand for cardiovascular therapeutics in the region. Such factors are expected to contribute to the growth of the regional market during the forecast period.
The cardiovascular therapeutics market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global cardiovascular therapeutics market as a part of the global pharmaceuticals market within the overall healthcare industry. The parent, the global pharmaceuticals, market covers products and companies engaged in R&D or the production of generic drugs, non-generic drugs, and veterinary drugs. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Cardiovascular Therapeutics Market Scope |
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Report Coverage |
Details |
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Page number |
172 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.32% |
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Market growth 2023-2027 |
USD 37.77 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.65 |
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Regional analysis |
Asia, North America, Europe, and Rest of World (ROW) |
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Performing market contribution |
Asia at 53% |
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Key countries |
US, Mexico, Russia, China, and India |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abbott Laboratories, Acutus Medical Inc., Amgen Inc., Astellas Pharma Inc., AstraZeneca Plc, Aurobindo Pharma Ltd., Bayer AG, Boehringer Ingelheim International GmbH, Bristol Myers Squibb Co., Daiichi Sankyo Co. Ltd., Dr Reddys Laboratories Ltd., Eli Lilly and Co., F. Hoffmann La Roche Ltd., GlaxoSmithKline Plc, Johnson and Johnson Services Inc., Merck and Co. Inc., Novartis AG, Pfizer Inc., Sun Pharmaceutical Industries Ltd., and Viatris Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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