Heart Failure Drugs Market Share, Demand, Industry Analysis, Growth, Applications, Types and Forecasts Report 2032

global heart failure drugs market is anticipated to witness significant growth in the coming years

VANCOUVER, BRITISH COLUMBIA, CANADA, July 8, 2024 /EINPresswire.com/ -- The global heart failure drugs market is anticipated to witness significant growth in the coming years, driven by a surge in the geriatric population and the increasing prevalence of chronic diseases like diabetes, hypertension, and high cholesterol. According to Emergen Research, the market size reached USD 12.20 billion in 2022 and is projected to reach USD 21.63 billion by 2032, reflecting a compound annual growth rate (CAGR) of 5.9% during the forecast period.

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Market Trends and Drivers

Growing Geriatric Population: As the global population ages, the number of individuals susceptible to heart failure is expected to rise dramatically. This growing demographic creates a significant demand for effective heart failure medications.

Rising Prevalence of Chronic Diseases: Chronic conditions like diabetes, hypertension, and high cholesterol are well-established risk factors for heart failure. The increasing prevalence of these diseases is a major driver of the heart failure drugs market.

Technological Advancements and New Drug Discovery: Pharmaceutical companies are actively involved in research and development to create novel therapeutics with improved efficacy and fewer side effects. This continuous innovation pipeline fuels market growth.

Restraints and Challenges

High Cost of Treatment: The high cost of certain heart failure medications can limit patient access, particularly in regions with limited healthcare resources.

Strict Regulatory Requirements: The stringent approval processes for new drugs can delay their market entry, impacting market growth in the short term.

Suboptimal Medication Adherence: A significant portion of heart failure patients do not adhere to their medication regimens, hindering treatment effectiveness and potentially increasing healthcare costs.

Growth Opportunities

Focus on Affordable Medications: Development and commercialization of cost-effective generic drugs can improve patient access and expand market reach, particularly in emerging economies.

Telemedicine and Remote Monitoring: The integration of telemedicine and remote patient monitoring technologies can enhance medication adherence and improve patient outcomes, creating new market opportunities.

Rising Awareness and Early Diagnosis: Increased public awareness campaigns and early diagnosis of heart failure can lead to timely intervention and potentially reduce the need for advanced treatment options.

Key Market Insights

Dominant Drug Class: ACE inhibitors currently hold the dominant position in the heart failure drugs market due to their established efficacy, tolerability, and affordability.

Fragmented Market Landscape: The market features a large number of players, with major pharmaceutical companies like Bayer AG, Novartis AG, and Merck & Co. competing alongside smaller, niche players. Strategic collaborations and mergers & acquisitions are likely to intensify as companies vie for market share.

SWOT Analysis

Strengths:

Large and growing patient pool

Continuous pipeline of innovative drugs

Established efficacy of existing therapies

Weaknesses:

High treatment costs

Stringent regulatory hurdles

Suboptimal medication adherence

Opportunities:

Development of affordable generic drugs

Integration of telemedicine and remote monitoring

Rising awareness and early diagnosis

Threats:

Patent expirations of branded drugs

Stringent pricing regulations

Competition from alternative treatment modalities

Latest Strategic Developments

On 29 May 2023, Lexicon Pharmaceuticals announced the approval of its Inpefa medication to treat cardiac failure by the US Food and Drug Administration (FDA). A once-daily oral pill called Inpefa is prescribed as an inhibitor of type 1 and type 2 Sodium-Glucose Co-Transporters (SGLT1). The objective is to lower the risk of cardiac failure hospitalization, urgent heart failure visits, and cardiovascular mortality. Adults with heart failure, chronic renal disease, type 2 diabetes, and other cardiovascular risk factors can take the pill.

On 20 January 2021, Merck announced that the U.S. Food and Drug Administration (FDA) had approved VERQUVO, lowering the risk of heart failure hospitalization and cardiovascular death. Following a priority regulatory review and based on the pivotal Phase 3 VICTORIA trial results, the FDA approved VERQUVO, the first treatment for chronic heart failure, specifically for patients who had been hospitalized for heart failure or required outpatient IV diuretics. Bayer AG and VERQUVO (vericiguat) are working together to create tablets in dosages of 2.5 mg, 5 mg, or 10 mg.

Heart Failure Drugs Top Companies and Competitive Landscape

The global heart failure drugs market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective heart failure drugs solutions.

Some major players included in the global heart failure drugs market report are:

Amgen Inc.

AstraZeneca

Bayer AG

Boehringer Ingelheim International GmbH

Bristol-Myers Squibb Company

Bausch Health Companies Inc.

Cardurion Pharmaceuticals

Cardior Pharmaceuticals GmbH

CYTOKINETICS, INC.

Janssen Global Services, LLC

Lilly

Exelixis, Inc.

Gilead Sciences, Inc.

GSK plc

Merck & Co., Inc.

Mylan N.V.

Novartis AG

Pfizer Inc.

Sanofi

Teva Pharmaceutical Industries Ltd.

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Heart Failure Drugs Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global heart failure drugs market on the basis of type, application, stage of heart failure, distribution channel, end-use, and region:

Type Outlook (Revenue, USD Billion; 2019-2032)

Beta Blockers

ACE Inhibitors

Angiotensin-receptor neprilysin inhibitors

Angiotensin receptor blockers

Diuretics

Others

Application Outlook (Revenue, USD Billion; 2019-2032)

Injection

Capsule

Tablets

Others

Stage Of Heart Failure Outlook (Revenue, USD Billion; 2019-2032)

Acute

Chronic

Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)

Hospital Pharmacies

Retail Pharmacies

Online Pharmacies

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals

Specialty Centers

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
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