Kenneth Research has evaluated the current market opportunities in Heart Failure Drugs Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Heart Failure Drugs Market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
Global Heart Failure Drugs Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025
[88 pages report] This market research report includes a detailed segmentation of the global heart failure drugs market by drug class (ACE inhibitors, beta blockers, diuretics, angiotensin receptor blockers, and others) and by region (North America, Europe, Asia Pacific, and Rest of the World).
Overview of the Global Heart Failure Drugs Market
Kenneth’s market research report predicts that the “Global Heart Failure Drugs Market” will grow at a CAGR of 9.1% during the forecast period. The market has witnessed good growth in the past few years and is sustaining due to increasing elderly population and increasing prevalence of cardiovascular diseases.
The growing market trend continues and is one of the progressively accepted markets in many countries worldwide. Heart failure drugs manufacturers are concentrating on procurement of funds and collaborating with universities to expand their R&D capabilities. Most of the revenue is generated from the leading players in the market with dominant sales from Novartis AG, GlaxoSmithKline PLC, AstraZeneca PLC, Bayer AG, and Pfizer Inc.
According to Kenneth Research analysis, North America leads the global heart failure drugs market in 2018 followed by Europe. The US dominates the market owing to the presence of a majority of the heart failure drugs manufacturers in the region. However, the fastest growth rate is anticipated to be in the APAC region due to the presence of large heart failure patient population and availability of wide range of drugs.
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By Drug Class:
• ACE Inhibitors
• Angiotensin Receptor Blockers
• Beta Blockers
• Diuretics
• Others
The diuretics segment occupied the largest share in 2018. The existing guiding principle by the American College of Cardiology and the American Heart Association recommends that diuretics should be directed at doses adequate to attain optimum volume station and release cramming without making an extremely fast drop in intravascular capacity.
By Regions:
• North America
• Europe
• APAC
• RoW
North America is dominant in the global heart failure drugs market followed by Europe. The Duke University in North Carolina, US in collaboration with National Heart, Lung, Blood Institute (NHLBI) and Yale University is conducting phase III clinical trial “TRANSFORM-HF” a large-scale, pragmatic, randomized, unblinded clinical effectiveness study comparing torsemide versus furosemide as treatment for heart failure.
Heart Failure Drugs Market Research Competitive Analysis – The market is growing at a steady rate with a CAGR of 9.1% during the forecast period 2019-2025. Merger and acquisition, product launches, and strategic collaborations are some of the major strategies adopted by market leaders to maintain their leadership position in the market. For example, in February 2019, Amgen, Cytokinetics, and Servier initiated the METEORIC-HF, the second phase III clinical trial of omecamtiv mecarbil in patients with heart failure.
Universities and educational institutions are collaborating with the market players to develop effective drugs for the treatment of the heart failure. For instance, Yale University in collaboration with Boehringer Ingelheim is currently conducting a phase II clinical study; a minor pilot proof of concept study to not only prove the existence but also probe the mechanisms that are fundamental for the cardio-renal effects of empagliflozin in patients with heart failure.
Key Vendors:
• Novartis AG
• GlaxoSmithKline PLC
• AstraZeneca PLC
• Bayer AG
• Pfizer, Inc.
Key Competitive Facts
• Sclnow Biotechnology Co., Ltd. is studying to access the safety and efficiency of human umbilical cord mesenchymal stem cells (hUC-MSC) in treating individuals suffering from heart failure. This treatment is in phase 1/2 currently.
• In January 2019, Sanofi and MyoKardia ended their heart disease drug collaboration.
Benefits – The report provides complete details about the sub-segments of the heart failure drugs market. Through this report, the key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives towards the disease management in the upcoming years along with details of the existing pureplay companies and new players entering the market. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals, and to analyze before investing or expanding the business in this market.
Key Takeaways:
• Understanding the potential market opportunity with precise market size and forecast data.
• A detailed market analysis focusing on the growth of heart failure drugs industry.
• Factors influencing the growth of the heart failure drugs market.
• In-depth competitive analysis of dominant and pureplay vendors.
• Prediction analysis of the heart failure drugs market in both developed and developing regions.
• Key insights related to major segments of the heart failure drugs market.
• Latest market trend analysis impacting the buying behavior of the consumers.
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