Cardiovascular Therapeutics Market Analysis Asia, North America, Europe, Rest of World (ROW) - US, Mexico, Russia, China, India - Size and Forecast 2024-2028

Cardiovascular Therapeutics Market Forecast 2024-2028

The global cardiovascular therapeutics market size is estimated to grow by USD 24.25 million, at a CAGR of 4.57% between 2023 and 2028. 

The market is influenced by advancements in diagnostic techniques, particularly vessel wall magnetic resonance imaging (MRI), which provides detailed information on vessel morphology and plaque composition. Unlike traditional methods like magnetic resonance angiography (MRA), vessel wall MRI accurately measures wall thickness and distinguishes plaque components, aiding in early atherosclerosis detection. This technology is less operator-dependent and crucial for identifying high-risk plaques and predicting cardiovascular disease risk. With its superior capabilities, vessel wall MRI is expected to fuel market growth by enhancing diagnosis and treatment strategies for cardiovascular diseases like atherosclerosis.

What will be the size of the Market During the Forecast Period?

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Segmentation by Distribution Channel, Type, and Geography Analysis

Distribution Channel Analysis

The market share by the hospital pharmacy segment will be significant during the forecast period. Hospital pharmacies are responsible for procuring, storing, and dispensing medications to patients in the hospital. Hospital pharmacies typically purchase in bulk directly from manufacturers or wholesalers, which allows for cost savings and ensures a steady supply of medications. Hospital pharmacists are also responsible for ensuring that patients receive the correct medications and dosages, which improves patient outcomes and reduces the risk of adverse events. Hospital pharmacies also play a key role in clinical trials and research.

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The hospital pharmacy segment was valued at USD 55.24 million in 2018. Hospital pharmacies often work closely with healthcare providers to ensure that patients receive appropriate and timely treatment for cardiovascular conditions. For example, Pfizer Inc, one of the leading market players, provides cardiovascular medications to hospitals worldwide. Medications such as Lipitor (atorvastatin) for the management of LDL and triglyceride levels and Norvasc (amlodipine) for hypertension are distributed through hospital pharmacies, addressing the diverse needs of patients with cardiovascular issues. Therefore, these factors under the Hospital pharmacy segment will contribute to the growth of the market during the forecast period.

Type Analysis

The antithrombotic drugs?segment will account for the largest share of this segment.?The market is expanding due to increased usage for various cardiovascular diseases. Antithrombotic drugs, available in multiple forms, effectively combat thrombogenesis by inhibiting platelet aggregation and fibrin formation. These drugs, categorized as antiplatelet and anticoagulants, prevent arterial thrombogenesis. Enhanced understanding of platelet activation has unveiled numerous molecular targets, leading to rational drug prescriptions. Aspirin, a commonly prescribed antiplatelet drug, prevents myocardial infarction and ischemic stroke. Its swift onset and prolonged action contribute to high prescription rates and patient adherence, driving market growth.

The market grows due to hypercholesterolemia's rising prevalence, elevating cardiovascular disease risk. Hypolipidemic drugs lower lipid and lipoprotein levels in blood, curbing plaque formation in vessels. Statins like simvastatin and pravastatin inhibit cholesterol synthesis by blocking 5-hydroxy-3-methylglutaryl-coenzyme A reductase. Though effective, statins may cause muscle pain and fatigue, constraining market growth. Yet, generic versions' availability boosts their adoption among hyperlipidemia patients, fueling demand and market expansion. Leading market players like Viatris Inc. offer Lipitor atorvastatin tablets, further supporting market growth.

Regional Analysis

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Asia is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Asia's healthcare sector, while growing, faces challenges such as limited awareness and treatment options for cardiovascular diseases, especially in underdeveloped countries with low purchasing power. Weak drug approval frameworks and inadequate healthcare infrastructure further hinder market growth.

However, the market in Asia is poised for significant expansion due to the rising burden of cardiovascular diseases, increasing awareness, adoption of advanced medications, and improved healthcare spending. Major contributors include Japan, China, South Korea, and India. With the prevalence of cardiovascular diseases on the rise, fueled by inactive lifestyles and aging populations, the market is expected to surge, driven by demand from economies like India and China and bolstered by mergers and collaborations among key market players.

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Key Market Players 

Companies 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. The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Abbott Laboratories: The company offers cardiovascular therapeutics such as cardiac resynchronization therapy clinical treatment for patients who deal with heart failure.

• Acutus Medical Inc.
• Amgen Inc.
• Astellas Pharma Inc
• AstraZeneca PLC
• Bayer AG
• Boehringer Ingelheim International GmbH
• Bristol Myers Squibb Co.
• Daiichi Sankyo Co. 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.
• Viatris Inc.
• Aurobindo Pharma Ltd.
• Dr Reddys Laboratories Ltd.

Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics Customer Landscape

In the healthcare systems, addressing cardiovascular diseases (CVDs) necessitates effective cardiovascular medications such as angiotensin-converting-enzyme inhibitors (ACEIs) and angiotensin II receptor blockers (ARBs), particularly in managing conditions like heart failure to reduce mortality. Therapy alternatives like Eliquis (apixaban) aid in preventing myocardial infarction and managing anticoagulation needs. Treatment focuses extend to critical care units for severe cases of coronary heart disease and pulmonary arterial hypertension (PAH), targeting various disorders of the heart and blood vessels, including hyperlipidemia and hypertension segments, considering the prevalence of conditions like obesity. Regulatory oversight by the FDA (Food and Drug Administration) ensures safety and efficacy of treatments. There are multiple factors influencing market growth and forecasting. Our researchers analyzed the data with 2023 as the base year. 

Key Drivers

Rising prevalence of hypercholesterolemia is the key factor driving the market. Cardiovascular diseases (CVDs) are the leading global cause of mortality. Hypercholesterolemia is a modifiable risk factor for CVDs, increasing the risk of atherosclerosis-related cardiovascular diseases. Atherosclerosis narrows arteries, reducing blood flow, and is primarily caused by plaque buildup, mainly comprising cholesterol. High cholesterol levels elevate atherosclerosis risk, with 7% of US children and adolescents affected. 

Additionally, despite being asymptomatic, hypercholesterolemia often goes undiagnosed. Statins are widely prescribed to manage high cholesterol, with 55% of US adults on treatment. The market is poised for growth due to the increasing prevalence of hypercholesterolemia, a key contributor to atherosclerosis, driving demand for cardiovascular medications like angiotensin-converting-enzyme inhibitors (ACEIs) and angiotensin II receptor blockers (ARBs). This trend is expected to shape the market's trajectory, supported by therapeutic advances and FDA-approved therapies for hypertension and related heart disorders. Thus, such factors will induce the growth of the market during the forecast period. 

Significant Trends

The advent of novel oral anticoagulants (NOACs) is one of the primary market trends. NOACs are gaining significant importance among their end-users and are replacing the traditionally used anticoagulants such as heparin and warfarin. Anticoagulants have long been used for the prevention of thrombus formation in patients with cardiovascular diseases. Unlike treatment with heparin and warfarin, which require the need for a clinical setting for their administration, the use of NOACs makes it easier for patients to adhere to the anticoagulant therapy post-discharge. Some of the potential NOACs include Pradaxa from Boehringer Ingelheim, Eliquis from BMS, and Xarelto from Janssen Pharmaceuticals.

Additionally, several comparative clinical trials have been conducted in the past to demonstrate the therapeutic efficacy and safety profile of NOACs in comparison with warfarin. Considering these factors, it is evident that the advent of NOACs is anticipated to gain significant importance among healthcare physicians by gaining higher prescriptions as well as fueling the growth of the market during the forecast period.

Major Challenges

Side effects associated with therapeutics are a major challenge that affects market expansion. The market is largely dominated by the use of small molecules, which include statins or cholesterol-lowering drugs, ACE inhibitors, beta-blockers, antiplatelet agents, calcium channel blockers, and nitrates. Of these, statins are used as primary medications for the treatment of cardiovascular diseases of atherosclerotic origin. Despite their therapeutic efficacy, statins can cause potential side effects. Further, considering the critical role of this drug in preventing or altering the process involved in atherogenesis, the drug is extensively used by patients with atherosclerosis.

However, several research studies have revealed that the drug can cause muscular diseases, such as myopathy and rhabdomyolysis, a rare condition that leads to kidney failure. Further, direct oral anticoagulants (DOACs), often known as non-vitamin potassium (K) oral anticoagulants, are readily absorbed and metabolized in the kidney, which raises concerns about their use in patients with chronic kidney disease. Therefore, the potential side effects impede the rationale behind using these drugs for the treatment of various cardiovascular diseases, which may negatively affect market development during the forecast period.

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Key Market Customer Landscape

The market 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 market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

 Customer Landscape

Segment Overview

The market report forecasts market growth analysis by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Distribution Channel Outlook
  • Hospital pharmacy
  • Retail Pharmacy
  • Online pharmacy

• Type Outlook
  • Antithrombotic drugs
  • Hypolipidemic drugs
  • Others

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Argentina
    • Australia
    • Brazil

Market Analyst Overview:

The market continues to play a crucial role in healthcare systems, providing usual care and treatment within healthcare facilities for vulnerable patients afflicted with cardiovascular diseases (CVDs). With the growing prevalence of CVDs and associated risks like infection and cardiovascular injury, there's an increased emphasis on the efficiency of treatments such as Angiotensin-converting-enzyme inhibitors (ACEIs) and Angiotensin II Receptor Blockers (ARBs). Research and development (R&D) investments drive innovation in therapy alternatives, aiming to reduce mortality and disability-adjusted life years (DALYs). Regulatory bodies like the FDA (Food and Drug Administration) oversee product approvals, ensuring efficacy and safety. Companies like Boehringer Ingelheim GmbH are pivotal in introducing novel therapeutics like Empagliflozin (Jardiance), particularly targeting the hypertension segment. The British Heart Foundation (BHF) and American College of Cardiology advocate for improved public health concerns and reimbursement policies, aiming to address the unmet treatment need and reduce the mortality rate associated with cardiovascular diseases.

Furthermore, The cardiovascular drugs market addresses critical conditions such as coronary heart disease and hypertensive heart disease, impacting admissions in hospitals and necessitating care in critical care units within National Health Service hospitals. With the hypertension burden recognized by organizations like the World Health Organization (WHO), treatments target high blood pressure and related issues like pulmonary arterial hypertension (PAH). Market drivers like increased awareness and innovation of new drugs such as Eliquis (apixaban) drive advancements in R&D. Major players offer effective therapeutics, including antihypertensive, antihyperlipidemic, and antiplatelet drugs available in retail pharmacies and online pharmacies to serve the target population combating cardiovascular diseases.

Cardiovascular Therapeutics Market Scope
Report Coverage	Details
Page number	183
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 4.57%
Market Growth 2024-2028	USD 24.25 million
Market structure	Fragmented
YoY growth 2023-2024(%)	4.18
Regional analysis	Asia, North America, Europe, and Rest of World (ROW)
Performing market contribution	Asia at 37%
Key countries	US, Mexico, Russia, China, and India
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Abbott Laboratories, Acutus Medical Inc., Amgen Inc., Astellas Pharma Inc., AstraZeneca PLC, Bayer AG, Boehringer Ingelheim International GmbH, Bristol Myers Squibb Co., Daiichi Sankyo Co. 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., Viatris Inc., Aurobindo Pharma Ltd., and Dr Reddys Laboratories Ltd.
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, Market condition analysis for the forecast period.
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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the between 2024 and 2028
• Precise estimation of the size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across Asia, North America, Europe, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of companies

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