Global Cardiovascular Drugs Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
10 Dec, 2020
The global cardiovascular drugs market is expected to decline from $92.5 billion in 2019 to $85.4 billion in 2020 at a compound annual growth rate (CAGR) of -7.8%. The decline is mainly because of the lockdown measures due to the COVID-19 outbreak. The decrease in the number of cardiac surgeries due to rescheduling of surgeries, cancellations and no-shows by patients, decrease in consultations due to restrictions by government and health authorities to provide only emergency services, and less heart disease admissions contribute to this decline. However, the decline is not significant as research showed that the COVID-19 patients developed cardiovascular complications, and therefore health authorities advised COVID-19 and non-COVID-19 cardiac patients to continue the use of CVD drugs. The market is then expected to recover and grow at a CAGR of 3% from 2021 and reach $106.1 billion in 2023.
The cardiovascular drugs market consists of sales of cardiovascular drugs and related services 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.
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The global cardiovascular drugs market is further segmented based on type, distribution channel, route of administration, drug classification, mode of purchase and geography.
By Type: Anti-Hypertensive Drugs, Hypolipidemic, Anti Thrombotic, Other Drugs For Cardiovascular Diseases (Congestive Heart Failure, Anti-Arrhythmic And Anti-Anginal Drugs).
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Others.
By Route Of Administration: Oral, Parenteral, Others.
By Drug Classification: Branded Drugs, Generic Drugs.
By Mode Of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs.
By Geography: The global cardiovascular drugs market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific cardiovascular drugs market accounts for the largest share of 39% in the global cardiovascular drugs market.
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Trends In The Cardiovascular Drugs Market
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.
Cardiovascular Drugs Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides cardiovascular drugs market overviews, analyzes and forecasts market size and growth for the global cardiovascular drugs market, cardiovascular drugs market share, cardiovascular drugs market players, cardiovascular drugs market segments and geographies, cardiovascular drugs market’s leading competitors’ revenues, profiles and market shares. The cardiovascular drugs market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.