Atherosclerosis Drugs Market - Risk Associated with Cardiovascular Health to Drive Sales
Despite the prevalence of diabetes and cholesterol among a wide patient pool, the atherosclerosis drugs market will move at a sluggish CAGR of 2.5% during the forecast period, finds a recently published report by
This market growth is attributable to the high consumption of cholesterol-lowering drugs by patients to reduce blockages in arteries. A sedentary, yet, demanding lifestyle instigates consumers to opt for quick dietary choices, which will catalyze revenue streams to the atherosclerosis drugs landscape.
To add to that, government initiatives at a global level have played a crucial role in improving the quality of healthcare services and infrastructure, which has been encouraging pharmaceutical companies to develop effective drugs for the treatment of various diseases. The effectiveness of drugs coupled with their easy availability through streamlined distribution channels has been complementing the sales of atherosclerosis drugs. Analyzing the current and the future growth scope, the TMR study opines that, the atherosclerosis drugs market will register a value tantamount to ~US$ 57.4 Bn by 2027.
Popularity of Generic Drugs Poised to Overshadow Atherosclerosis Drugs Market Growth
In March 2019, the U.S. Food and Drug Administration approved a novel generic drug of Diovan to bridge the high demand and low supply gap of this critical drug, on account of multiple recalls of valsartan products manufactured by several brands. After two months, Zydus Cadila announced that it has received approval for Chlorthalidone, a generic version of Thalitone produced by Pfizer.
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These and many companies have scrambled towards the development of generic drugs to offer the near-same benefits of branded drugs at a low cost. The rapid rise in the penetration of generic drugs in parallel to increasing awareness among consumers about the cost benefits of these drugs is likely to curb the growth potential of the atherosclerosis drugs market.
Also, heart strokes and cardiovascular dysfunction are the symptoms associated with atherosclerosis conditions, which could lead to sudden death. On account of the severity of these symptoms, the survival rate is low among patients, which reduces the diagnosis percentage of atherosclerosis.
Distribution Partnerships with Retail Pharmacies Will Remain Beneficial
According to the statistical data of the TMR study, retail pharmacies will grow as the key point-of-sales channel for atherosclerosis drugs, as they are established at even the remotest of locations, thereby making it convenient for consumers to present prescriptions and purchase drugs. In addition, retail pharmacists offer a more consultative role regarding the route of administration and possible side effects of drugs. Retail pharmacies have the presence of several brands, which makes them a suitable purchase point for patients. However, hospital pharmacists operate in a more clinic-oriented manner by having significant contact with doctors and nurses, and they manage their inventories with only specific brands.
By 2027, players in the atherosclerosis drugs market can look at sales through retail pharmacies to a value tantamount to ~US$ 24 Bn.
Analysts’ Take on Atherosclerosis Drugs Market
Analyzing the impact of the drivers and restraints influencing the future of the atherosclerosis drugs market, analysts of the TMR study anticipate slow, yet, steady growth during the forecast period. While favorable government policies and impressive strides of the healthcare industry are projected to foster the leaps of the North American atherosclerosis drugs market, Asia Pacific will grow at an accelerated pace during the forecast period.
An investment made towards the development of novel drugs with a keen eye on their effectiveness will help in developing a weighted product portfolio. In addition, the convergence of e-Commerce and the healthcare sector will create high sales opportunities through online pharmacies for players operating in the atherosclerosis drugs market during the forecast period.
Atherosclerosis Drugs Market: Overview
The atherosclerosis drugs market for the historical period of 2017-2018 and forecast period of 2019-2027, the rising prevalence of atherosclerosis and cardiovascular disease, and development of new treatments are anticipated to drive the global atherosclerosis drugs market during the period of forecast.
The global atherosclerosis drugs market was valued at ~US$ 45.7 Bn in 2018, and is expected to expand at a CAGR of 2.5% from 2019 to 2027.
As such, the global atherosclerosis drugs market is projected to be valued at ~US$ 57.4 Bn by the year 2027.
Increase in Prevalence of Atherosclerosis & Cardiovascular Diseases and Awareness About Cardiovascular Diseases: Key Drivers
Atherosclerosis is a leading cause of vascular diseases. For instance, according to the American Heart Association, Inc., the mortality rate of vascular disease is 700 per 100,000 people per year in the country.
Rise in the number of people with cardiovascular diseases is likely to fuel the growth of the global atherosclerosis drugs market. Obesity, unhealthy diets, and changes in lifestyles are factors leading to cardiovascular diseases. For instance, according to the American Heart Association, approximately 2,300 people died in 2018 and 92.1 million Americans are living with cardiovascular diseases.
According to an article published in NCBI, atherosclerosis accounted for more than 90% of cases of peripheral artery disease.
Rise in the level of low-density lipoproteins cholesterol (LDL-C) is directly associated with atherosclerosis.
According to the Centers for Diseases Control and Prevention, between 2005 and 2012, an estimated 29 million U.S. adults had elevated total cholesterol levels. Thus, the rising level of LDL-C is likely to boost the growth of the atherosclerosis drugs market.
Increase in incidences of cardiac arrests, heart failures, and other cardiovascular diseases have driven people to become more aware of heart failure warning signals and the importance of prompt response.
Government participation has also played an important role in raising concerns and creating awareness about cardiovascular disease treatment.
In 2015-2016, the American Heart Association committed to funding 980 new research projects worth over US$ 163 Mn. The organization uses donations to fund research projects. The American Heart Association funds more research on cardiovascular diseases and stroke than any organization, except for the Federal Government.
Increase in awareness about cardiovascular diseases and atherosclerosis in developing regions is anticipated to drive the atherosclerosis drugs market. For instance, the incidence of cardiometabolic diseases, such as metabolic syndrome, abnormal obesity, hypertension, ischemic heart diseases, stroke, and diabetes, is high in South Asian countries; hence, in 1993, a professional society was started at the University of Minnesota. This society organizes a conference on the topic of atherosclerosis and thrombosis every year in India.
Atherosclerosis Drugs Market: Development of New Treatments
Key players in the global atherosclerosis drugs market are engaged in research and development to introduce new atherosclerosis drugs.
Rise in the prevalence and incidence of cardiovascular conditions due to plaque formation is leading to an increase in the demand for new treatment options.
E-selectin-targeting polymer is a new polymer developed by Ben-Gurion University (BGU) and the Sheba Medical Center. It is a new therapy for atherosclerosis that reduces the risk of ischemia, stroke, arterial thrombosis, and myocardial infraction, by reducing and preventing plaque formation.
Protein Convertase Subtilisin/Kexin type 9 (PCSK 9) is an intensive statin therapy to decrease the low density lipoprotein cholesterol level, which reduces the risk of coronary atherosclerotic plaque formation.
New treatments for atherosclerosis are likely to fuel the growth of the global atherosclerosis drugs market.
Availability of Generic Drugs Hampers Atherosclerosis Drugs Market
The launch of new generic products for the treatment of atherosclerosis is hampering the global atherosclerosis drugs market.
In March 2019, the U.S. Food and Drug Administration approved a new generic of Diovan (Valsartan). Valsartan is an angiotensin II receptor blocker used in the treatment of high blood pressure and heart failure.
In October 2015, Mylan Pharmaceuticals Inc., a subsidiary of Mylan Inc., received approval from the U.S. Food and Drug Administration for the generic version of Hyzaar tablets.
Global Atherosclerosis Drugs Market: Competition Landscape
This report profiles major players in the global atherosclerosis drugs market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments.
The atherosclerosis drugs market is moderately fragmented, with the presence of a few large-scale players present in international markets and numerous small-scale players in regional markets. The top four to five players hold a majority share of the global atherosclerosis drugs market.
Prominent players operating in the global atherosclerosis drugs market include:
Key Questions Answered in the Atherosclerosis Drugs Market Report
Global Atherosclerosis Drugs Market – Segmentation