Metoprolol Tartrate Market Key Trends, Analysis And Strategies 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Metoprolol Tartrate Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The metoprolol tartrate market size has grown strongly in recent years. It will grow from $6.1 billion in 2023 to $6.41 billion in 2024 at a compound annual growth rate (CAGR) of 5%. The growth in the historic period can be attributed to rising awareness about hypertension, expansion and improvement of healthcare systems, early patent protections, and health initiatives.

The metoprolol tartrate market size is expected to see strong growth in the next few years. It will grow to $7.83 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to personalized medicine, enhanced medical education and training on the management of cardiovascular diseases, development of efficient drug distribution networks, patient education programs and increased funding for cardiovascular research. Major trends in the forecast period include consumer behavior analysis, supply chain optimization, development of 3D printing technologies for customizable drug formulations, increasing development and use of mobile health apps.

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Market Drivers and Trends:

The increasing prevalence of hypertension is expected to propel the growth of the metoprolol tartrate market going forward. Hypertension is a complex condition with multiple contributing factors. It can develop gradually due to lifestyle and genetic factors, or other underlying health conditions can cause it. The increasing prevalence of hypertension combines factors such as poor diet, lack of physical activity, obesity, stress, and an aging population. Metoprolol tartrate helps to manage hypertension by slowing the heart rate and reducing the force the heart pumps, leading to lower blood pressure. For instance, in December 2023, according to the Australian Bureau of Statistics, in 2022, over one in ten (11.6% or 3.0 million) people reported having hypertension. Additionally, in August 2021, according to the World Health Organization, a Switzerland-based Intergovernmental organization and Imperial College London joint press release, the number of adults aged 30-79 with hypertension increased from 650 million to 1.28 billion in the last thirty years. Therefore, the increasing prevalence of hypertension is driving the metoprolol tartrate market.

Impact Of Increasing Coronary Heart Disease Prevalence On The Metoprolol Tartrate Market

The increasing prevalence of coronary heart disease is expected to propel the growth of the metoprolol tartrate market going forward. Coronary heart disease is a condition characterized by the narrowing of the heart's blood vessels due to plaque buildup, leading to decreased blood flow to the heart muscle and potential heart problems such as chest pain or heart attack. Coronary heart disease is caused by sedentary lifestyles, unhealthy dietary habits, smoking, obesity, high blood pressure, and diabetes, which contribute to the development and progression of this condition. Metoprolol tartrate helps manage coronary heart disease by reducing heart rate and blood pressure, preventing angina, protecting against acute coronary events, improving long-term outcomes, and managing arrhythmias. For instance, in December 2023, according to the Australian Bureau of Statistics, an Australian-based government administration, in 2020-21, an estimated 571,000 Australians aged 18 and over (2.9% of the adult population) were living with coronary heart disease. The prevalence of CHD increases rapidly with age, affecting around 1 in 9 (11%) adults aged 75 and over. Therefore, the increasing prevalence of coronary heart disease is driving the metoprolol tartrate market.

Major companies in the metoprolol tartrate market are developing equivalent products to provide cost-effective alternatives to branded versions for treating hypertension and other cardiovascular conditions. Comparable products are bioequivalent to the original branded drugs, meaning they are absorbed into the bloodstream at a similar rate and extent, ensuring the same therapeutic effect. For instance, in August 2023, Lupin Pharmaceuticals, an India-based pharmaceutical company, received approval from the United States Food and Drug Administration for its Abbreviated New Drug Application for Metoprolol Succinate Extended-Release Tablets to market a generic equivalent of Toprol-XL Tablets. The generic tablets are indicated for the treatment of hypertension and angina pectoris and are available in various strengths to cater to different patient needs. The approval further expands Lupin's portfolio of generic cardiovascular products in the U.S. market.

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Major Key Players of the Market:

Pfizer Inc., AstraZeneca plc, Novartis AG, Viatris Inc., Teva Pharmaceutical Industries Ltd., Macleods Pharmaceuticals Ltd., Sun Pharmaceutical Industries Ltd., Intas Pharmaceuticals Ltd., Aurobindo Pharma, Cipla Inc., Hikma Pharmaceuticals PLC, Amneal Pharmaceuticals, Glenmark Pharmaceuticals Ltd., Emcure Pharmaceuticals Ltd., Alembic Pharmaceuticals Inc., Accord Healthcare Inc., Beximco Pharmaceuticals Ltd., Micro Labs Ltd., Inventia Healthcare Pvt. Ltd., Watson Laboratories Inc., Aizant Drug Research Solutions Pvt. Ltd., Zydus Cadila, Validus Pharmaceuticals LLC, Strides Pharma Science Limited, APO-MEDIX Pty Ltd.

Metoprolol Tartrate Market 2024 Key Insights:

• The metoprolol tartrate market size is expected to see strong growth in the next few years. It will grow to $7.83 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• Increasing Hypertension Prevalence on the Metoprolol Tartrate Market
• Development Of Cost-Effective Generic Equivalents In The Metoprolol Tartrate Market
• North America was the largest region in the metoprolol tartrate market in 2023

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