The global hypertension drugs market, valued at USD 25,135.2 million in 2021, is projected to experience steady growth with a compound annual growth rate (CAGR) of 3.2% during the forecast period. Several key factors, including the efforts of major market players, increasing prevalence of pulmonary arterial hypertension (PAH), adoption rates, reimbursement availability, and the introduction of generic drugs, are driving the expansion of this market. The rising number of cases of cardiovascular diseases, coupled with the urgent need for effective treatments, underscores the markets potential for growth.
Prevalence of Pulmonary Arterial Hypertension
The prevalence of pulmonary arterial hypertension (PAH) is contributing to the markets expansion. With an estimated 500 to 1000 new cases of PAH diagnosed annually in the United States alone, the demand for medications to manage this condition is rising. Additionally, conditions like cirrhosis of the liver, connective tissue disorders, congenital cardiac defects, and infections (such as HIV and schistosomiasis) are linked to hypertension, further driving the need for pulmonary arterial hypertension medications.
Opportunities in Generic Drugs and R&D Efforts
The market is capitalizing on the opportunities presented by the expiration of patents, leading to the production of generic drugs at more affordable prices. Increased research and development (R&D) efforts and regulatory approvals in established and emerging markets are expected to drive demand for and consumption of generic drugs. The introduction of generic versions of key medications, such as Remodulin treprostinil injectable and Letairis (ambrisentan tablets), has already demonstrated market potential.
Rising Cases of Hypertension
Sedentary lifestyles and poor dietary habits have contributed to an alarming increase in cases of high blood pressure and hypertension. Hypertension medications are now essential for the rapid prevention and treatment of high blood pressure. The market is also expanding due to the increased use of combination medications that target different mechanisms of hypertension, reducing the risk of cerebrovascular accidents and coronary problems. New advancements in hypertension treatments, including imidazolines, monatepil, and neutral endopeptidase inhibitors, are also contributing to market growth.
COVID-19 Impact and Resilience
The COVID-19 pandemic had a substantial impact on the hypertension drugs market, affecting operational activities, financial performance, and clinical trials. The pandemic disrupted supply chains, slowed demand, and caused delays in clinical studies and patient visits. However, major efforts by pharmaceutical companies to maintain supply stability for existing clients led to minimal negative effects on the sales of hypertension medications. The market gradually recovered in 2021.
Market Drivers
The launch of new disease-modifying therapies is expected to drive the global hypertension drugs market. Innovative treatments, such as angiotensin II receptor blockers (ARBs), angiotensin-converting enzyme (ACE) inhibitors, and calcium channel blockers (CCB), are anticipated to modify disease progression and enhance efficacy.
Challenges
Lack of public awareness about the use of antihypertensive medications and poor adherence to prescribed medication schedules are significant challenges to the hypertension drugs market. This lack of awareness often results in delayed diagnoses and limited patient commitment to medication, hindering market growth.
Segmentation and Regional Landscape
Diuretics are anticipated to dominate the market due to their efficacy in treating hypertension. Hospital pharmacies are expected to hold the largest market share as medications are often administered following comprehensive diagnoses. North America is expected to lead the market due to the high prevalence of hypertension in the region.
Global Outlook
The global hypertension drugs market is poised for growth, driven by the rising prevalence of cardiovascular diseases and the introduction of disease-modifying therapies. As awareness about hypertension increases and treatment options improve, the markets potential to provide essential health solutions remains strong.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/hypertension-drugs-market
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COMTEX_438818838/2840/2023-08-21T12:19:57
