Approval Of New Drugs For Treatment Of Chronic Heart Failure
The global cardiovascular drugs market, a part of the healthcare industry, declined at a compound annual growth rate (CAGR) of around -0.1% during the historic period. The healthcare industry showed a decline. The decline in the market is due to patent expiries of a major brands of cardiovascular drugs such as Lipitor, Plavi and others. Loss of patency has increased the market scope for generic versions of the drug with a huge difference in the prices.
In the forecast period, the global cardiovascular drugs market size is expected to be over $65 billion by 2021, growing at a CAGR of nearly 2%. This is expected due to the increase in aging population, increase in the prevalence of cardiovascular diseases and availability of more generic drugs that reduce the cost of treatment. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global cardiovascular drugs market in the future.
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The Food and Drug Administration (FDA) in the USA has approved new drugs for treatment of chronic heart failure. Chronic heart failure is a cardiovascular disorder caused by an inadequate cardiac output (ability of the heart to pump blood)
Major companies in the cardiovascular drugs market, offering FDA technology include Merck & Co., Sanofi S.A., Pfizer Inc., Bristol-Myers Squibb Company, Novartis AG, Eli Lilly And Company, Johnson & Johnson, AstraZeneca Plc., Abbott Laboratories Inc., Bayer AG.
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Cardiovascular drugs market covers the drugs used to treat conditions that affect the heart or blood vessels. These conditions include heart stroke, coronary artery diseases, valvular diseases, peripheral venous diseases, pericarditis, endocarditis, cardiac tumors, arteriosclerosis, and lymphatic diseases. Some of the major cardiovascular drugs include anti-hypertensive drugs such as calcium channel blockers and Angiotensin II receptor antagonists, and hypolipidemic drugs such as fibric acid derivatives and bile acid binding resins.
The top five companies covered are Merck & Co., Sanofi S.A., Pfizer Inc., Bristol-Myers Squibb Company and Novartis AG. Merck & Co. was the largest company in the cardiovascular drugs market in 2017.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The cardiovascular drugs market is segmented into Anti-Hypertensive Drugs, Hypolipidemic Drugs, Antithrombotics Drugs and Other (Congestive Heart Failure, Antiarrhythmic and Antianginal) Drugs.
Anti-Hypertensive Drugs are used to prevent heart failure, kidney failure and acute stroke induced by hypertension. These companies also offer drugs to control blood pressure and delay the development of atherosclerosis.
Hypolipidemic Drugs are those drugs that lower lipid and lipoproteins levels in the blood.
Antithrombotics Drugs are used to prevent and treat arterial and venous thrombosis.
Other (Congestive Heart Failure, Antiarrhythmic and Antianginal) Drugs are the drugs that prevent congestive heart failure, drugs used for the treatment of cardiovascular diseases, antiarrhythmic drugs used for the treatment of abnormal heart rhythms, and antianginal drugs used for angina management.
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