March 23, 2018
WELLESLEY, Mass., March 23, 2018– Cardiovascular diseases are estimated to be behind 31% of deaths globally, and the treatment of these diseases is helping to drive the cardiovascular drug market, according to a report by BCC Research. Risk factors such as diabetes, family history, ethnicity, tobacco use and poor diet all conspire to affect cardiovascular health.
The global market for this crucial element of health care was valued at $139.4 billion in 2016. It is forecasted to grow by a compound annual growth rate (CAGR) of 1.2% through 2022, when it will be worth an estimated $149.4 billion, according to the report Cardiovascular Drugs: Global Markets to 2022.
Major players in the market include Sanofi, Bayer Corp., Bristol-Myers Squibb Co., Daiichi Sankyo, Johnson & Johnson, Gilead Sciences Inc., Par Pharmaceutical, United Therapeutics, Nippon Shinyaku Co. Ltd., Lupin Atlantis Holdings, Silvergate Pharmaceuticals Inc., TSH Biopharm Corp., Novartis, Relypsa, Vectus Biosystems Ltd., Phasebio Pharmaceuticals, Ablative Solutions, Mylan Specialty, Curemark and Takeda Pharmaceutical Co.
“Hypertension is the most common modifiable risk factor for cardiovascular diseases, and effective treatment with anti-hypertensive drugs can reduce target organ damage and death due to cardiovascular outcomes,” said Robert G. Hunter, BCC Research senior editor, healthcare “In the recent past, many effective therapies for hypertension have emerged thanks to many focused research projects. Newer classes of anti-hypertensive drugs are in the final stages of approval, which could result in major breakthroughs in hypertension management.”
Market Restrained By a Reduction in Cardiovascular Drug Development
Although cardiovascular diseases are on the rise globally and there is a need for new and effective drug therapies, investment in cardiovascular drug development has stalled over the past two decades. The high cost involved in conducting research and outcome trials in the current regulatory environment is one of the primary reasons for this trend. Thus, there has been underinvestment in the field when compared to other therapeutic areas, the report notes. This setback has resulted in a significant decrease in the number of cardiovascular drugs in the research pipeline. Further, the market is restricted by stringent drug regulations, particularly in the United States. Even though the rise of specialty drugs has enabled manufacturers to charge premiums, the market remains highly competitive and patients have a wide variety of similarly effective drugs to choose from.
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Cardiovascular Drugs: Global Markets to 2022( PHM191A )
Publish Date: Mar 2018
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