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The prils market share is expected to increase by USD 784.14 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.43%.
This prils market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers prils market segmentation by application (hypertension, heart failure, and chronic kidney disorders) and geography (North America, Europe, Asia, and ROW). The prils market report also offers information on several market vendors, including Aurobindo Pharma Ltd., Dr. Reddys Laboratories Ltd., Fazio Group of Companies, Lupin Ltd., Manus Aktteva Biopharma LLP, Merck KGaA, Novartis AG, Pfizer Inc., Sun Pharmaceutical Industries Ltd., and Viatris Inc. among others.
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The rising geriatric population is notably driving the prils market growth, although factors such as side effects of prils may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the prils industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Prils Market Driver
The rising geriatric population is one of the key factors driving the global prils market growth. The increase in the aging population is a matter of concern for many countries such as China, US, and Japan. This growing population requires medical services, which in turn will positively impact the market in focus during the forecast period. For instance, the high incidence of cardiovascular diseases (CVDs) in the US is leading to a high rise in the consumption of CVD drugs. The governments are increasing the investment in R&D in hypertension and cardiovascular segment which will drive the global prils market growth. Furthermore, certain chronic diseases such as obesity, diabetes, and high cholesterol will increase the risk of heart disease, thereby increasing the demand for CVD drugs and further stimulating the growth.
Key Prils Market Challenge
One of the key challenges to the global prils market growth is the side effects of prils. The drugs used for the treatment of heart failure and hypertension have many side effects such as dizziness, ringing or buzzing in the ears, diarrhea, high potassium levels in the blood, which can cause heart rhythm problems, and swelling due to fluid buildup under the skin. This will encourage consumers to adopt other modes of management of diseases, such as maintaining a healthy lifestyle with proper diets and exercise. Therefore, such negative impacts of prils on patients and availability of a wide range of substitutes may reduce the adoption of prils for heart treatment in the market in focus during the forecast period.
This prils market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the prils market encompasses successful business strategies deployed by the key vendors. The prils market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The prils market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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40% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for prils in North America. Market growth in this region will be slower than the growth of the market in Asia and Europe.
The significant increase in the geriatric population and high demand for CVD drugs for the treatment of cardiovascular kidney disorders (CVDs) will facilitate the prils market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The prils market share growth by the hypertension segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the prils market size and actionable market insights on post COVID-19 impact on each segment.
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Prils Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.43% |
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Market growth 2022-2026 |
$ 784.14 million |
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Market structure |
Fragmented |
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YoY growth (%) |
4.15 |
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Regional analysis |
North America, Europe, Asia, and ROW |
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Performing market contribution |
North America at 40% |
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Key consumer countries |
US, Canada, Germany, China, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Aurobindo Pharma Ltd., Dr. Reddys Laboratories Ltd., Fazio Group of Companies, Lupin Ltd., Manus Aktteva Biopharma LLP, Merck KGaA, 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, Market condition analysis for 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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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
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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