Wilmington, Delaware, United States, April 14, 2023 (GLOBE NEWSWIRE) — The global congestive heart failure drugs market was valued at USD 6.7 Bn in 2022 and is estimated to reach USD 13.5 Bn by 2031, expanding at a CAGR of 7.6% between 2023 and 2031.
Rise in number of elderly people and increase in incidence of hypertension, obesity, and diabetes are expected to bolster industry growth. Congestive heart failure (CHF) is more likely to occur in those who use tobacco, have sedentary lifestyles, and have poor diet.
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|Market Revenue||USD 6.7 Bn in 2022|
|Estimated Value||USD 13.5 Bn by 2031|
|No. of Pages||162 Pages|
|Market Segmentation||By Type of Congestive Heart Failure, Drug Class, and Distribution Channel|
|Regions Covered||North America, Europe, Asia Pacific, Middle East & Africa, South America|
|Companies Covered||Bayer AG, Novartis AG, Merck & Co., Inc., AstraZeneca, Bristol-Myers Squibb Company, Amgen, Inc., Boehringer Ingelheim International GmbH., Pfizer, Inc., Johnson & Johnson Services, Inc., and Eli Lilly and Company|
Surge in medical spending, high awareness about cardiac health, and increase in availability of healthcare services are anticipated to propel market development. Development of novel therapies & technology, including stem cell therapy and implanted devices, for treating CHF presents lucrative opportunities for market participants. Companies are emphasizing on introduction of effective and reasonably priced goods and services, including medicines, medical equipment, and surgical processes to gain market share.
CHF occurs when the heart fails to pump sufficient blood to fulfill demand of the body. CHF medications are intended to treat the condition’s symptoms and enhance patients’ life quality and well-being. Aldosterone antagonists, ACE inhibitors, diuretics, beta-blockers, ARBs, and digitalis are the major medications used to treat CHF. These medicines function by lessening the strain on the heart, enhancing blood flow, and minimizing fluid accumulation in the lungs as well as other body parts.
Key Findings of Market Report
- Based on type of congestive heart failure, the left-sided heart failure segment held the largest market share in 2022. Left-sided heart failure is more common than right-sided heart failure. Moreover, problems and symptoms associated with left-sided heart failure could be more severe, necessitating more urgent medical intervention.
- In terms of drug class, ACE inhibitors was the most popular drug class in 2022. ACE inhibitors are very efficient in slowing the disease progression and symptoms. Several clinical studies have demonstrated that ACE inhibitors help lower death and hospitalization rates in CHF patients. Furthermore, compared to other CHF medications, these are well tolerated and also carry minimal health risks.
- Based on distribution channel, the retail pharmacies segment held leading share of the global market in 2022. Patients can readily access retail pharmacies. Moreover, patients with CHF can easily and often get their meds without the need to go far or deal with any logistical challenges.
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Global Congestive Heart Failure Drugs Market: Growth Drivers
- Nearly 6.5 million people in the U.S. aged 20 and older are affected by heart failure, which is becoming more common, as reported by the American Heart Association. An upward trend in the incidence of heart failure is expected to increase demand for these medications in the next few years. Aging population is likely to lead to increase in incidence of heart failure. Elderly people are more susceptible to heart failure. Heart failure is likely to become more common as the baby boomer generation ages, especially in the U.S. Rise in obesity and diabetes is another factor driving the incidence of heart failure.
- The global market is also driven by technological breakthroughs in drug development. These developments are allowing researchers to find novel pharmacological targets as well as biomarkers for CHF. This is likely to contribute to the development of more potent and specialized treatments. Processes for discovering new drugs and developing them are technologically advanced. The process of developing new drugs has become fast-paced by high-throughput screening techniques that employ robots and automation to swiftly evaluate a high number of chemicals. Technological improvements are also improving patient access to CHF medications.
Global Congestive Heart Failure Drugs Market: Regional Landscape
North America held the largest share of the global industry in 2022. This is ascribed to the region’s sophisticated healthcare infrastructure, high incidence of cardiac disease, and rise in spending on research & development activities. Moreover, cardiac illnesses were responsible for one in every five fatalities, or around 697,000 deaths, in the region in 2020.
Global Congestive Heart Failure Drugs Market: Key Players
- Johnson & Johnson Services, Inc.
- Boehringer Ingelheim International GmbH
- Bristol-Myers Squibb Company
- Eli Lilly and Company
- Merck & Co., Inc.
- Amgen, Inc.
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Global Congestive Heart Failure Drugs Market: Segmentation
Type of Congestive Heart Failure
- Left-sided Heart Failure
- Right-sided Heart Failure
- High-output Heart Failure
- ACE Inhibitors (dominated)
- Angiotensin-2 Receptor Blockers (ARBs or AIIRAs)
- Beta Blockers
- Mineralocorticoid Receptor Antagonists
- Sacubitril Valsartan
- Others (Digoxin, etc.)
- Hospitals Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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