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Major companies in the market include Medtronic Inc. , Boston Scientific Corporation, Abbott Laboratories, Edwards Lifesciences, Cardinal Health, Inc. , Johnson & Johnson, Terumo Corporation, Getinge Group, Teleflex Inc.
New York, March 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report "Cardiovascular Drugs Global Market Report 2022" – https://www.reportlinker.com/p06241971/?utm_source=GNW
and Becton Dickinson.
The global cardiovascular drugs market is expected to grow from $146.51 billion in 2021 to $153.60 billion in 2022 at a compound annual growth rate (CAGR) of 4.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $173.48 billion in 2026 at a CAGR of 3.1%.
The cardiovascular drugs market consists of sales of cardiovascular drugs by entities (organizations, sole traders and partnerships) that produce cardiovascular drugs to treat cardiovascular diseases.This industry includes establishments that produce anti-hypertensive drugs to prevent heart failure by controlling blood pressure and hypolipidemic drugs that reduce lipid and lipoprotein levels in the blood.
It also consists of establishments which produce antithrombotic drugs to treat arterial and venous thrombosis.
The main drug types of cardiovascular drugs are anti-hypertensive drugs, hypolipidemics, anti thrombotics, and other drugs for cardiovascular diseases (congestive heart failure, anti-arrhythmic and anti-anginal drugs).Hypolipidemic drugs are a diverse class of medications used to treat high levels of fats (lipids) in the blood, such as cholesterol (hyperlipidemia).
The drugs are available in the form of pharmaceutical drugs and biologics.The drugs are administered through oral, parenteral, and others that are classified into branded and generic drugs.
The drugs are distributed by hospital pharmacies, retail pharmacies/ drug stores, and others.
North America was the largest region in the cardiovascular drugs market in 2021.Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rise in sedentary jobs, busy lifestyles and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes and cardiovascular diseases.Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of cardiovascular diseases including hypertension.
According to the World Health Organization, chronic disease prevalence is rose by 57% globally, in the year 2020. These factors are expected to increase the patient pool globally, thereby driving the cardiovascular drugs market during the forecast period.
High costs associated with drugs is a major issue faced by citizens of many countries.Pressure to contain costs and demonstrate value is widespread.
Political uncertainty and persistent economic stress in numerous countries are calling into question the sustainability of public health care funding.In less wealthy countries, lack of cost-effective drugs has influenced the health conditions of the population and has led to a low average life expectancy.
As a result, in countries such as Chad, Macedonia, Serbia, the pharmaceutical companies are faced with the pressure of reducing the price of drugs. The high costs associated with drugs are putting pressure on the revenues of cardiovascular drugs manufacturers.
NOACs are gaining wider acceptance and are replacing traditionally used anti-coagulants such as Warfarin and Heparin.Anti-coagulants have long been used in prevention of thrombus formation in patients suffering with cardiovascular diseases.
Use of NOACs makes it easier for patients to continue therapy post discharge as opposed to injections of Heparin and Warfarin which need medical assistance for administration. Some of the NOACs include Pradaxa (dabigatran etexilate) from Boehringer Ingelheim, Xarelto (rivaroxaban) from Janssen, and Eliquis (apixaban) from Bristol-Myers Squibb.
The countries covered in the cardiovascular drugs market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p06241971/?utm_source=GNW
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