What is the global market size of Cardiovascular Drugs Market?

Global Cardiovascular Drugs Market size was valued at USD 155.6 billion in 2021 and is poised to grow from USD 162.63 billion in 2022 to USD 231.64 billion by 2030, growing at a CAGR of 4.52% in the forecast period (2023-2030).

Cardiovascular Drugs Market Size, Share, Growth Analysis, By Drug Type(Antihypertensive, Anticoagulants, Antihyperlipidemic, Antiplatelet Drugs), By End User(Hospital Pharmacies, Online Pharmacies, Retail Pharmacies), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35D2041 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 64 | Figures: 75

Cardiovascular Drugs Market Dynamics

Driver

Increased Incidence of Cardiovascular Diseases

According to WHO, 60% to 85% of the population is sedentary. According to the CDC, approximately 31 million Americans over the age of 50 lead a sedentary lifestyle, and only one in four US adults receive recommended physical activity. This factor increases market growth.

Increasing FDA approvals

Product approvals are expected to increase market growth in the future. For example, in May 2022, a subsidiary of Zydus Life sciences Limited entered the U.S. to market Selexipag tablets, used to treat pulmonary arterial hypertension (PAH) in adults received provisional approval from FDA. Additionally, in February 2022, the FDA approved Norliqva (amlodipine) oral solution to treat high blood pressure, lower blood pressure, and coronary artery disease in adults and children 6 years of age and older.

Restraint

Lack of skilled professionals

However, strict drug approval process and side effects of some cardiovascular drugs hamper the growth of global cardiovascular drugs market.

Cardiovascular Drugs Market Report Snapshots

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FAQs

Cardiovascular Drugs Market size was valued at USD 162.63 billion in 2022 and is poised to grow from USD 169.98 billion in 2023 to USD 242.10 billion by 2031, growing at a CAGR of 4.52% in the forecast period (2024-2031).

Global cardiovascular drugs market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of global cardiovascular drugs market. 'Pfizer Inc.', 'Novartis AG', 'AstraZeneca PLC', 'Merck & Co., Inc.', 'Sanofi S.A.', 'Bristol-Myers Squibb Company', 'Boehringer Ingelheim GmbH', 'Bayer AG', 'Abbott Laboratories', 'Johnson & Johnson', 'Eli Lilly and Company', 'Amgen Inc.', 'Teva Pharmaceutical Industries Ltd.', 'Daiichi Sankyo Company, Limited', 'Gilead Sciences, Inc.', 'GlaxoSmithKline plc', 'Mylan N.V.', 'Takeda Pharmaceutical Company Limited', 'Astellas Pharma Inc.', 'AbbVie Inc.'

According to WHO, 60% to 85% of the population is sedentary. According to the CDC, approximately 31 million Americans over the age of 50 lead a sedentary lifestyle, and only one in four US adults receive recommended physical activity. This factor increases market growth.

Obesity and high cholesterol levels increase the risk of cardiovascular disease. The use of emergency medicine is commonly seen in hospitals, which has shown great potential for market growth. A large number of patients receive personal care for chronic conditions, which proves to be a steady seller for the market and continues to generate revenue returns. The use of cardiovascular drugs has also increased the prevalence of hypertension. There is a high demand for blood thinners in the market due to the increasing incidence of cardiovascular diseases. The increasing life expectancy of the elderly population has increased the demand for cardiovascular drugs. The increasing prevalence of cardiovascular disease in children has boosted the sales of these emergency drugs. Hypertensive drugs are difficult to discontinue, which helps maintain supply and demand.

On the basis of region, global cardiovascular drugs market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. North America has witnessed the highest growth in the global cardiovascular drugs market due to the high prevalence of cardiovascular disorders in the population. Due to increasing industrialization and the popularity of fast food, the prevalence of high blood pressure and other heart diseases has increased. People's sedentary lifestyle choices, along with poor eating habits, have increased the risk of cardiovascular disease, increasing the demand for these treatments.

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Cardiovascular Drugs Market Size, Share, Growth Analysis, By Drug Type(Antihypertensive, Anticoagulants, Antihyperlipidemic, Antiplatelet Drugs), By End User(Hospital Pharmacies, Online Pharmacies, Retail Pharmacies), By Region - Industry Forecast 2024-2031

Cardiovascular Drugs Market Dynamics

Cardiovascular Drugs Market Report Snapshots

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