The global “Cardiovascular Drugs Market Size” is set to touch USD 63.96 billion by 2026, exhibiting a CAGR of 3.8% during the forecast period. Increasing incidence of cardiovascular disorders will be one of the central driving forces of growth for this market in the next decade. According to the Global Burden of Disease Study 2017, cardiovascular disorder (CVD) is the most common chronic disease, killing around 17.8 million people annually. Of these, close to 82% of the deaths occur in low and middle-income countries. The World Health Organization (WHO) estimates that 80% of CVD deaths are caused by heart attack and strokes. These diseases also carry a heavy economic burden. For example, the American Heart Association estimates that by 2035, medical costs associated with CVD will hit USD 749 billion. Thus, there is a grave need to find effective medication to treat these conditions, augmenting the cardiovascular drugs market growth.
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Leading Players operating in the Cardiovascular Drugs Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Merck Co., Inc.
- Pfizer Inc.
- Hoffmann-La Roche Ltd.
- Janssen Pharmaceuticals, Inc.
- Bristol-Myers Squibb Company
- Bayer AG
- Novartis AG
- Gilead Sciences, Inc.
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The report covers:
- Global Cardiovascular Drugs Market trends, with detailed analysis on consumer trends manufacturer trends.
- Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
- Key areas of investments identifying market opportunities and challenges in forecast timeframe.
- Competitive analysis of the industry players along with the overview on strategic management.
- Comprehensive company profiles of the major industry players.
Fortune Business Insights, through its report, titled “Cardiovascular Drugs Market Size, Share Industry Analysis, By Drug Type (Antihypertensive, Antihyperlipidemic, Anticoagulants, Antiplatelet Drugs, Others), By Disease Indication (Hypertension, Hyperlipidemia, Coronary Artery Disease, Arrhythmia, Others), By Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies, Others) and Regional Forecast, 2019 -2026”, brings out a comprehensive analysis of the factors and dynamics that are likely to influence the share, size, and overall growth of the market during the forecast period. The report also provides a thorough research into the general industry trends that will enable competitors in this market to take well-informed business decisions.
Rising Demand for Effective Treatment Drugs to Stir Innovation
One of the leading cardiovascular drugs market trends is the steady spread of awareness about the effects of CVDs. This is causing an upsurge in the demand for CVD drugs, a need that is being bolstered by rising pollution levels and an increasingly sedentary lifestyle. The response from the industry has been positive as many companies are coming out novel drugs to cure such conditions as effectively as possible. For instance, Bristol-Myers Squibb and Pfizer jointly developed Eliquis, a low-risk cardiovascular drug that was rapidly adopted by patients and doctors alike. These developments are expected to vastly enhance the potential of this market in the near future.