Heart failure is a chronic condition in which the heart muscle is unable to pump enough blood to the body’s need for blood and oxygen. This results in fatigue and shortness of breath and sometimes results in a cough. Factors such as rising cases of cardiovascular disorders, increasing geriatric population, and the constantly changing lifestyle habits (such as unhealthy dietary habits, excessive alcohol consumption, smoking, obesity, and lack of physical activity) which make individuals more susceptible to arrhythmia and heart failure are driving the market growth. Additionally, a strong pipeline and product approvals are also driving the market growth. However, serious side-effects hamper the growth of the market.
Global Heart Failure Drugs Market is estimated to be valued at USD 13,069.75 Million by 2025 and is expected to register a CAGR of 17.79% during the forecast period.
Global Heart Failure Drugs Market has been segmented on the basis of Type, and End User. The market, based on type, has been segmented into Beta-Blockers, ACE Inhibitors, Angiotensin-Receptor Neprilysin Inhibitors (ARNI), Angiotensin Receptor Blockers (ARBs), Diuretic, and others. The global heart failure drugs market, by end-user, has been categorized as hospitals, specialty centers, and others.
Europe would follow the Americas in terms of value during the forecast period owing to the presence of favorable government initiatives and laws, and target population base, and the rising prevalence of lifestyle-associated conditions. For instance, according to the European Heart Journal, overall CVD is estimated to cost the EU economy EUR 210 billion a year, and CVD accounted for over 126 million hospital bed days in the EU, representing 277 hospital bed days per 1000 population.
Asia-Pacific is expected to exhibit the fastest market growth from 2019 to 2025 owing to the increasing per capita health spending, growing older population base, developing the healthcare sector in China, India, and Australia, a defined regulatory framework enabling accelerated product approvals, and diagnostic process at comparatively lower prices.
The Middle East and Africa are expected to represent a modest market growth from 2019 to 2025. The Middle East would hold a substantial market share over the assessment period due to increasing obesity issues, rising initiatives by governments to improve patient care, and favorable reimbursement policies
Market Research Future (MRFR) recognizes Amgen Inc. (US), AstraZeneca (UK), Novartis AG (Switzerland), Boehringer Ingelheim International GmbH (Germany), Johnson Johnson Services, Inc. (UK), Bristol-Myers Squibb Company (US), Merck Sharp Dohme Corp. (US), Pfizer, Inc. (US), and Gilead Sciences, Inc. (California) as the Key Players in the Global Heart Failure Drugs Market.
Key Findings of the Study
- The Global Heart Failure Drugs Market is projected to reach over USD 13,069.75 Million by 2025 at a 79% CAGR during the review period of 2019 to 2025.
- The US held a market share of 79.1% in 2018. Initiatives of major players and rising cardiovascular cases are driving the market growth. For instance, according to the Centers for Disease Control and Prevention, heart disease is the leading cause of death for men and women in the US.
- Based on type, the Angiotensin Receptor Neprilysin Inhibitors segment accounted for the largest market share of 31.6% in 2018.
- On the basis of end-user, the specialty centers segment accounted for the largest market share of 38.4% in 2018