Antihypertensive Drugs Market to Expand at 3% CAGR During Forecast Period, Notes 2022 TMR Study
WILMINGTOM, Del., Dec. 22, 2022
- Increasing expansion of e-Health apps and telemedicine industries is projected to provide long-term revenue potential for firms in the antihypertensive drugs market
- Rising production of angiotensin receptor blockers is expected to generate reliable revenue streams for market players
WILMINGTOM, Del., Dec. 22, 2022 /PRNewswire/ -- Market value of the global antihypertensive drugs market stood at US$ 30.2 Bn in 2021. Industry growth is estimated at a CAGR of 3% during the forecast period, from 2022 to 2031. The market forecast estimates the antihypertensive drugs market to surpass value of US$ 40 Bn by 2031. Rise in roll out of novel prescription drugs and diagnostic tools as well as significant business developments, such as partnerships and establishment of new R&D facilities, are anticipated to drive market development.
Advent of new disease-modifying treatments and increased disposable income are anticipated to drive the global antihypertensive drugs market in the next few years. Companies in the antihypertensive medicines industry are expected to benefit from the rapid growth of e-Health applications and telemedicine in the long run.
Sizable unmet needs in the antihypertensive medicine industry highlights the shortage of efficient solutions. Patients' poor compliance with the existing product lines provide significant opportunities to new entrants to profit from the unmet needs.
The trend of using antihypertensive medications among stroke Trends in the use of antihypertensive medications among stroke survivors can offer crucial information about shortcomings in secondary prevention that will help guide future interventions. Healthcare companies have increased investments in research and development activities in the domain of resistant hypertension treatment and genomics to stay ahead of the competition.
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Key Findings of Market Report
- Based on therapy type, the angiotensin receptor blockers segment is predicted to lead the global market and expand at a high CAGR during the forecast period. Angiotensin II receptor blockers (ARBs) have such a similar impact on angiotensin converting enzyme (ACE) inhibitors, different types of blood pressure medicines, but it functions in another way and on different mechanism.
- On the basis of type, the primary hypertension segment is anticipated to lead the global market and expand at a strong CAGR during the forecast period. Hypertension has grown to be a major global health issue over the past ten years, which is expected to drive market demand in the near future.
- The combination therapy segment is anticipated to command a sizeable revenue share of the global market by 2031 depending on medication type. The combination treatment market is driven by two factors: an increase in number of older people with comorbid problems, including congenital heart defects, and an emphasis on combination medications. As a result, companies are developing more combination antihypertensive medications to cater to elderly patients with comorbidities.
- Depending on distribution channel, the hospital pharmacies segment held the largest market share in 2021. Hospital pharmacies typically have a variety of drugs on reserve, including both investigational and specialized drugs. Hospital pharmacists are expanding the range of hypertension management tools in order to diversify their revenue streams.
Global Antihypertensive Drugs Market: Growth Opportunities
- Innovative antihypertensive medications and drug therapies are predicted to deliver better outcomes, as these precisely address disease progression. Introduction of new treatments, including calcium channel blockers (CCB), ACE inhibitors, and ARBs, for illnesses are anticipated to transform the existing scenario in the global antihypertensive drugs market. Launch of novel drug/therapeutic compounds with disease-modifying abilities and improved effectiveness and safety is projected to boost the global industry in the near future.
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Global Antihypertensive Drugs Market: Regional Landscape
- North America led the global antihypertensive drugs market in 2021. It is estimated to hold a considerable share of the global market and is likely to retain its dominant position during the forecast period. Growth in number of approvals for new pharmaceuticals by the U.S. FDA, increase in acceptance of antihypertensive drugs in the U.S., and rise in number of people dealing with cardiovascular illnesses in Canada and the U.S. are expected to contribute to the region's large market share.
- The market in Asia Pacific is predicted to expand at a high CAGR during the forecast period. Rise in aging population, prevalence of cardiac disorders, huge patient pool, and increasing demand and export of pharmaceuticals to North America and Europe are expected to drive the market growth in Asia Pacific.
Global Antihypertensive Drugs Market: Key Players
- Takeda Pharmaceutical Company Limited
- Pfizer, Inc.
- Boehringer Ingelheim GmbH
- F. Hoffmann-La Roche Ltd.
- Daiichi Sankyo Company Limited
- Novartis AG
Global Antihypertensive Drugs Market: Segmentation
- Angiotensin Converting Enzyme Inhibitors
- Angiotensin Receptor Blockers
- Calcium Channel Blockers
- Renin Inhibitors
- Primary Hypertension
- Secondary Hypertension
- Combination Therapy
- Fixed Dose Combinations
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
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