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ACE Inhibitors Market Size, Trends & Forecast 2024-2033
ACE Inhibitors Market Size
According to The Business Research Company's, The ace inhibitors market size has grown steadily in recent years. It will grow from $6.9 billion in 2023 to $7.24 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to risen cardiovascular disease incidence, increased aging population, clinical effectiveness and safety profile, prevalence of diabetes, regulatory endorsement and guidelines.
The ace inhibitors market size is expected to see strong growth in the next few years. It will grow to $9 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to growing global burden of cardiovascular diseases, expanding hypertension treatment guidelines, advancements in combination therapies, focus on heart failure management, rising awareness and healthcare access. Major trends in the forecast period include focus on kidney protection, preference for renin-angiotensin system inhibitors, generic competition and pricing pressures, patient-centric approaches in healthcare, regulatory updates and safety considerations.
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Market Drivers and Trends:
The increasing prevalence of hypertension disorders is expected to drive the growth of the ACE inhibitors market going forward. High blood pressure, medically known as hypertension, is a condition characterized by elevated pressure within the blood vessels. ACE inhibitors, also known as angiotensin-converting enzyme inhibitors, are a group of medications utilized to treat and control hypertension. These medications function by relaxing the blood vessels, resulting in a reduction in blood pressure and an improvement in blood flow. For instance, in March 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, approximately 1.28 billion adults between the ages of 30 and 79 were affected by hypertension worldwide, with a majority (two-thirds) residing in low- and middle-income nations. In the past 30 years, there has been an increase of 650 million people aged 30-79 who have hypertension. An estimated 46% of adults with hypertension are unaware of their condition, lacking a diagnosis. Over the last 30 years, the number of adults aged 30-79 who have hypertension has increased by 650 million. An estimated 46% of persons with hypertension are unaware of their condition since they are not diagnosed. Therefore, the increasing prevalence of hypertension disorders is driving the growth of the ACE inhibitors market.
Product innovations are a key trend gaining popularity in the ACE inhibitors market. Major companies operating in the ACE inhibitors market are focused on developing innovative products to strengthen their position and gain a competitive advantage. For instance, in February 2023, Travere Therapeutics, a US-based biopharmaceutical company, announced FDA approval of FILSPARI™ (sparsentan), a first-of-its-kind non-immunosuppressive therapy for use in patients with IgA nephropathy (IgAN). These treatments include systemic glucocorticoids, angiotensin-converting enzyme (ACE) inhibitors, and antihypertensive medications, including angiotensin-receptor blockers (ARBs). It is the only non-immunosuppressive therapy approved and a once-daily oral medicine designed to treat adults with primary IgAN at risk of rapid disease development and who typically have a UPCR of less than 1.5 g/g and proteinuria.
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Major Key Players of the Market:
Pfizer Inc.;Novartis AG;Johnson & Johnson Private Limited; Merck KGaA;Sanofi S.A.;Bayer AG;United Therapeutics Corporation;Teva Pharmaceutical Industries Ltd.;Bristol-Myers Squibb Co.;Takeda Pharmaceuticals Company;Daiichi Sankyo Company Ltd.;UCB Schwarz Pharma Inc.;Solvay Pharmaceuticals B.V.;Endo International plc;Otto Brandes GmbH;Sun Pharmaceutical Industries Ltd.;Boehringer Ingelheim;Bausch Health Companies Inc.;Dr. Reddy's Laboratories;Abbott Laboratories;Eli Lilly and Company;Cipla Limited; GlaxoSmithKline plc;Cadila Healthcare Limited;AbbVie Inc.; Mylan N.V.; Sandoz Group AG;Accord Healthcare Ltd.;AstraZeneca plc;Lupin Limited;Macleods Pharmaceuticals Limited;Zydus lifescience Ltd.;Apotex Inc.
ACE Inhibitors Market 2024 Key Insights:
• The ace inhibitors market will grow to $9 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.
• Rising Hypertension Rates Fuel The Growth Of Ace Inhibitors Market
• Product Innovations Drive Growth In Ace Inhibitors Market
• North America was the largest region in the ACE inhibitors market in 2023
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