With the US and EU5 Still The Dominant But Matured Regions, LATAM and Asia Pacific Are Emerging As The Major Growth Engines Of The Global Heart Failure Drugs Market During The Forecast Period upto 2025
The global heart failure drugs market is expected to witness a CAGR of 9.1% to reach revenue of $19.9 billion by 2025
Bangalore, India, April 23, 2019: With its recently published study “Global Heart Failure Drugs Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for heart failure drugs is expected to witness a good growth during 2019–2025. The market expansion opportunities in emerging nations and novel heart failure medicines to fill the gap of unmet need in the treatment is expected to enhance the market growth opportunities. However, the complex drug development process and high cost of investment in the R&D stages still affects the potential growth levels.
North America dominates the global heart failure drugs market followed by Europe and Asia Pacific. The significant share of the North America market is from the US. In the US, it is assessed that one in three adults have hypertension and the frequency is likely to raise by almost 10% by 2030. Asia Pacific is projected to offer lucrative growth opportunities to market players on the grounds of the rising healthcare expenditures, improving access to healthcare facilities, rising public health insurance beneficiaries, infrastructural advancements in the healthcare industry, and the growing focus on community healthcare.
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The increase of noncommunicable diseases such as hypertension and diabetes is a great challenge in low- and middle-income nations due to overstretched focus being on primarily fighting the infectious diseases. Market leaders such as Novartis through its Novartis Foundation along with the Ghana Health Service, the London School of Hygiene & Tropical Medicine, and FHI 360 the community-based hypertension management project (ComHIP) launched an advanced method to handle hypertension in a peri-urban region of Ghana. Novartis announced the launch of Better Hearts Better Cities, an innovative initiative to address the high rates of high blood pressure in low-income urban communities.
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“The market is growing at a good rate with a CAGR above 9% during the forecast period 2019–2025. New products are being launched posing a threat for the drugs that are currently dominating in the market. For example, Coreg (GSK) franchise sales declined 39% in 2018, while Entresto (Novartis) is the major drug in the market with a growth rate of around 85% over the 2017 revenue. The blockbuster status of the drug is reinforcing strong therapy position in heart failure drugs market for Novartis. Both Corlanor and Entresto will cost about $12.50 per day or $4,500 per year. Compared to some heart failure medications, many of which are available as inexpensive generics, the price for Corlanor or Entresto may seem very high. – Rikitha K Murthy, Research Analyst, Infoholic Research
Key Insights of the Report Include:
- Drug Class:
- ACE Inhibitors
- Angiotensin Receptor Blockers
- Beta Blockers
- Industry outlook: Market trends, drivers, restraints, and opportunities