Global Cardiovascular Drugs Market Expected to Reach XX Million by 2025
According to a new report published by Reports Monitor titled, “Cardiovascular Drugs Market by drug, disease, distribution channel: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Cardiovascular Drugs Market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. North America is anticipated to dominate the market and is expected to maintain leading position throughout the forecast period.
Cardiovascular drugs are primarily used in order to treat diseased condition associated with function & structure of blood vessels and heart. Commonly occurring cardiovascular diseases include coronary artery diseases, peripheral artery disease, thrombosis, asischemic, thrombosis, stroke and others. Root cause of cardiovascular diseases include absence of physical activity, stoutness, smoking, high consumption of liquor and terrible routine habits. Large ranges of remedies are recommended to cure the condition.
As per world health organization estimates CVD is culpable for near about 15 million deaths around the world every year. Primary drivers for the market includes rising geriatric population associated with diabetes and heart disorders, supportive government activities and increase in medical spending per capta. Moreover, unique mechanisms of action of therapeutics along with advanced combine therapies boost the market to grow further. Nevertheless, stringent FDA guidelines and huge cost required for drug development are likely to restrict the market growth. Number of cardiovascular medicine patent getting expired offers constructive opportunities to the vendors to develop ingenious medication.
As compared to anti-thrombotic and hypolipidemics anti-hypertensive drug market holds the largest share of the market owing to presence of multibillion drugs. Currently, an anti-thrombotic segment account for small market share however is anticipated to grow during forecast period. Based on distribution channel hospital pharmacy section is dominating owing to high occurrence of emergency department and hospital visits.
Key Findings and Scope
• Globally North America ruled the cardiovascular drug market in 2013 due to high awareness related to heart disorders.
• As per American Heart Association (AHA), in 2013, cardiovascular illnesses represented more than 17.3 million passing all around, representing 31% of all global deaths.
• The worldwide number is required to ascend to 23.6 million by 2030. In 2010, the worldwide weight of cardiovascular ailments was US$ 863 billion, and it is required to ascend to US$1044 billion by 2030.
The major companies profiled in the report include Merck & Co., Sanofi, Pfizer, Medicure Inc., Bristol-Myers Squibb Company, Novartis AG, Eli Lilly, Johnson & Johnson, AstraZeneca PLC, Abbott Laboratories Inc., Bayer AG, F. Hoffmann-La Roche Ltd.
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