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Market Overview
Market Research Future (MRFR) believes that the heart failure drugs market can record a decent growth rate of 17.79% between 2016 and 2025 (appraisal period). It is also projected that the market size can touch USD 13,069.75 Million by 2025.
Major Boosters and Barriers
Heart failure has emerged as one of the most lethal health conditions in the world and affects patients that lead unhealthy lifestyle and face poor prognosis. Risk factors are hypertension, obesity and diabetes, all of which have been witnessing a surge in the global current population. Unmet medical needs are quite high, especially in emerging regions, and the demand for reduced mortality should elevate the need for more drugs in the global market. Growing number of approvals as well as launch of the ACE inhibitors and the robustness of the latest pipeline can also enhance the market share in the coming years.
People more than 60 years of age are the major patient pool in the global market. The demographic is marked by reduced immunity levels and are therefore vulnerable to chronic ailments including heart failure. Therefore, the consistent expansion of the geriatric population worldwide will be a significant growth booster in the heart failure drugs market over the ensuing years.
Regional Insight
The market for heart failure drugs has been regionally segregated into Asia Pacific/APAC, Americas, MEA or Middle East & Africa and Europe.
Americas has taken the prime spot in the global market since the region generates significant demand for heart failure drugs in view of the escalating cases of cardiovascular disorder. High healthcare spending along with the surge in obesity cases also add to the market value. Besides, the growing prevalence of unhealthy lifestyle including high alcohol intake, bad diet, smoking, and lack of exercise has raised people’s vulnerability to arrhythmia as well as heart failure. This is bound to create a favorable scenario for the regional market in the following years.
Asia Pacific is emerging as one of the strongest markets, thanks to the blossoming patient pool along with the surge in technological advances in healthcare. The market’s rapid growth is also the result of the rise in per capita income as well as government initiatives aimed at improving the healthcare infrastructure.
Latest News
February 2021
The FDA has given the go ahead to Entresto, Novartis’ heart failure drug, for a broader use among Americans. Following its first approval in 2015, Entresto catered to patients with weak hearts that can pump only about 40% of blood into the left ventricle, which results in breathlessness and more. FDA's latest approval for the drug extends its use among patients whose hearts pumps out more blood but it is still lesser less than normal.
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