Press release
Beta Blockers Market 2024-2033 - Size, Trends, Outlook, Overview
Beta Blockers Market
The beta blockers market size is expected to see strong growth in the next few years. It will grow to $12.28 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to prevalence of cardiovascular diseases, expanded applications in heart failure, combination therapies, focus on hypertension guidelines, exploration of novel indications. Major trends in the forecast period include application in anxiety and performance situations, potential neuroprotective effects, individualized treatment approaches, impact of generic versions, integration with digital health platforms.
Market Overview -
Beta blockers also known as beta-adrenergic blocking agents, are a class of medications commonly used to treat various cardiovascular conditions by decreasing the activity of the heart. It is commonly prescribed for blood pressure control, angina, heart failure, and a few cardiac rhythm abnormalities.
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Increasing Incidence Of Cardiovascular Diseases Drives Growth In The Beta Blockers Market
The rise in the incidence of cardiovascular diseases is expected to propel the growth of the beta blockers market. Cardiovascular diseases (CVDs) are a group of disorders that affect the heart and blood vessels. The rise in the incidence of cardiovascular diseases is mostly driven by unhealthy diets, poor lifestyles, lack of exercise, tobacco use, and obesity, where beta blockers can help reduce cardiovascular cases by exerting several beneficial effects on the heart and blood vessels. Hence, rising cases of cardiovascular diseases are contributing to the growth of the beta blockers market. For instance, in according to the National health Survey 2020-21 conducted by the Australian Bureau of Statistics, an Australia-based government agency, an estimated 571,000 Australians aged 18 and over (2.9% of the adult population) were living with CHD in 2020-21. Therefore, a rise in the incidence of cardiovascular diseases will fuel the beta blockers market growth.
Competitive Landscape -
Major companies operating in the beta blockers market report are Pfizer Inc., Novartis AG, Merck & Co. Inc., AstraZeneca plc, Johnson and Johnson, Eli Lilly and Company, Sanofi SA, Bristol-Myers Squibb Company, Bayer AG, GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Amneal Pharmaceuticals LLC, Abbott Laboratories, Eagle Pharmaceuticals Inc., Neon Healthcare Ltd., Midas Pharma GmbH, Global Calcium PVT. LTD., AbbVie Inc., Mylan N.V., Boehringer Ingelheim International GmbH, Aspen Pharmacare Holdings Limited, Lupin Limited, Torrent Pharmaceuticals Ltd., Dr. Reddy's Laboratories Ltd., Cipla Ltd., Sandoz International GmbH, Wockhardt Ltd., Endo Pharmaceuticals Inc., Apotex Inc.
Product Innovation Drives Growth In The Beta Blockers Market
Product innovation has emerged as a key trend gaining popularity in the beta blockers market. Major market players operating on beta blockers market are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in January 2021, Merck, a Germany-based pharmaceutical company, received U.S. Food and Drug Administration (FDA) approval for a medication called VERQUVO (vericiguat). VERQUVO (vericiguat) is a medication indicated for treating heart failure with reduced ejection fraction (HFrEF) in adults. This drug helps to relax and widen blood vessels, reduce strain on the heart, and improve cardiac function.
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Key Segments -
The beta blockers market covered in this report is segmented -
1) By Type: Non-selective Agents, Selective Agents
2) By Indication: Angina Pectoris, Heart Failure, High Blood Pressure, Other Indications
3) By Drugs: Betaxolol, Acebutolol, Esmolol, Other Drugs
4) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
5) By Application: Cardiac Diseases, Hypertension, Glaucoma, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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