Heart Failure Drugs Market Overview
The Heart Failure Drugs market segmentation, based on type, includes Beta-Blockers, ACE Inhibitors, Angiotensin-Receptor Neprilysin Inhibitors, Angiotensin Receptor Blockers, and Diuretic.
Heart Failure Drugs Market Size was valued at USD 11.6 billion in 2021 and is projected to grow from USD 12.28 Billion in 2022 to USD 18.34 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.90% during the forecast period (2022 - 2030)
People more than 60 years of age are the major patient pool in the global market. The demographic is marked by reduced immunity levels and are therefore vulnerable to chronic ailments including heart failure. Therefore, the consistent expansion of the geriatric population worldwide will be a significant growth booster in the Heart Failure Drugs Market over the ensuing years.
The Centers for Disease Control and Prevention reveals that nearly 5.7 million people in the US suffer from heart failure. The condition is marked by the heart’s inability to pump sufficient blood as well as oxygen that are required for supporting all the other organs in the human body. It is a serious disorder, although the heart continues to beat. But past reports show that more than half of the patients that developed heart failure die within 6 years of being diagnosed.
Heart failure has emerged as one of the most lethal health conditions in the world and affects patients that lead unhealthy lifestyle and face poor prognosis. Risk factors are hypertension, obesity and diabetes, all of which have been witnessing a surge in the global current population. Unmet medical needs are quite high, especially in emerging regions, and the demand for reduced mortality should elevate the need for more drugs in the global market. Growing number of approvals as well as launch of the ACE inhibitors and the robustness of the latest pipeline can also enhance the market share in the coming years.
Heart Failure Drugs Market Regional Analysis
The market for heart failure drugs has been regionally segregated into Asia Pacific/APAC, Americas, MEA or Middle East & Africa and Europe.
Americas has taken the prime spot in the global market since the region generates significant demand for heart failure drugs in view of the escalating cases of cardiovascular disorder. High healthcare spending along with the surge in obesity cases also add to the market value. Besides, the growing prevalence of unhealthy lifestyle including high alcohol intake, bad diet, smoking, and lack of exercise has raised people’s vulnerability to arrhythmia as well as heart failure. This is bound to create a favorable scenario for the regional market in the following years.
Europe is the second most lucrative market for heart failure drugs and will continue to record a considerable growth rate in the ensuing years. The soaring incidences of cardiovascular diseases along with the burgeoning population of smokers has amplified the market growth rate in the region. Moreover, the expanding elderly populace in the European Union should also benefit the regional market over the analysis period.
Asia Pacific is emerging as one of the strongest markets, thanks to the blossoming patient pool along with the surge in technological advances in healthcare. The market’s rapid growth is also the result of the rise in per capita income as well as government initiatives aimed at improving the healthcare infrastructure.
Heart Failure Drugs Market Segmentation
The key segments highlighted in the MRFR study of the Heart Failure Drugs industry include type and end-user.
The global market, depending on type, caters to ACE Inhibitors, Diuretic, Beta-Blockers, Angiotensin Receptor Blockers (ARBs), Angiotensin-Receptor Neprilysin Inhibitors (ARNI), and others. ACE inhibitors are the most extensively prescribed types of drugs, as these play an essential role in managing heart failure. These relax the blood vessels and bring down the blood pressure, thereby facilitating smooth blood flow.
The global heart failure drugs market, by end-user, has been categorized as hospitals, specialty centers, and others. Hospital segment has procured the leading position in the global industry, on account of their soaring number worldwide and medications increasingly being prescribed at these institutions.
Major Firms
Merck Sharp & Dohme Corp. (U.S.), AstraZeneca (U.K.), Novartis AG (Switzerland), Gilead Sciences, Inc. (California), Amgen Inc. (U.S.), Bristol-Myers Squibb Company (U.S.), Boehringer Ingelheim International GmbH (Germany), Pfizer, Inc. (U.S.), Johnson & Johnson Services, Inc. (U.K.), are the prominent firms in the global market for heart failure drugs market Players
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