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Cardiovascular Drugs Market to Witness an Outstanding Growth by 2025
Transparency Market Research (TMR) states that the global cardiovascular drugs market is poised to witness introduction several novel drugs in the coming years. Leading players such as AstraZeneca, Pfizer, and Novartis are expected to make bold moves during the forecast period of 2017 and 2025. Increasing investments in research and development and growing number of medical trials are expected to have to intensify the competition in the global market. Mergers and acquisitions are also anticipated to be a key strategy of the players to show their dominance in the global market. For instance, AstraZeneca and Recordati have agreed to work together to gain commercial rights to retail Seloken along with related Logimax fixed-dose combination treatments all across Europe.
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Statistics presented by America Heart Foundation state that the number of people suffering from CVD are likely to reach 23.6 mn by the end of 2030. The alarming rise in the number is expected to increase the sale of cardiovascular drugs in the near future. Analysts predict that majority of the CVD patients have to be administered medicines for a long-term basis, which requires close monitoring. Growing number of drugs in the pipeline, improving approval rates, and better awareness about CVDs, especially in developing economies, has also had a major impact on the overall market. The surge in geriatric population and soaring number of diabetics around the world have also been identified as the key factors that will be responsible for the rise of this global market.
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Patent Expiries to Challenge Cardiovascular Drugs Market Growth
Despite the strong market drivers, the global cardiovascular drugs market faces some tough restraints. Currently, patent expiries is likely to hamper market’s growth. This will not only open up the market for generics but also bring down prices as competition intensifies. Furthermore, the poor rate of healthcare sector’s growth in the developing economies of Asia Pacific is anticipated to challenge the global market.
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This review is based on Transparency Market Research’s report, titled “Cardiovascular Drugs Market (Drug Class – Anti hyperlipidemics, Anti-hypertensives, Anti-coagulants, Anti-fibrinolytics, and Anti-arrhythmic; Distribution Channels – Hospital Pharmacies, Online Pharmacies, Retail Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”.
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About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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