Drug Manufacturers to Collaborate with Retail Pharmacies; Atherosclerosis Drugs Sales in Retail Pharmacies to Reach US$ 24 Billion by 2027
Fact.MR's latest analysis on atherosclerosis drugs market scrutinizes key growth factors that are impacting sales in the market. The report offers in-depth insights covering vital factors such as drivers, opportunities, key player strategies, and demand outlook for the atherosclerosis drugs market. In addition to this, the study analyzes latest trends across segments including drug class, distribution channel, and region for the forecast period (2020-2027).
ROCKVILLE, Md., Nov. 29, 2022 /PRNewswire/ -- A Market Research and Competitive Intelligence Provider: The global atherosclerosis drugs market is expected to witness robust growth over the upcoming decade. Demand in the market is predicted to rise due to growing prevalence of atherosclerosis and cardiovascular diseases across the globe. As per the National Center of Biotechnology Information, around 610,000 Americans succumb to heart disease every year.
Out of these, significant portion of these deaths are due to the initial attack of atherosclerosis and is among men above the age of 50 years. Hence, to reduce the global burden of this disease, healthcare professionals and leading companies are developing novel drugs and are integrating nano-technology.
Competency of nano polymers is improving the diagnosis and drug delivery system to combat cardiovascular diseases. Further, one such nano-polymer to improve the function of heart muscles is E-selectin-targeting polymer. With increasing number of mortality rates due to heart attack and strokes, the demand for atherosclerosis drugs is expected to surge over the forecast period.
Moreover, proliferation of online and retail pharmacies is one of the key factors facilitating the growth in the market. Availability of these drugs in the retail pharmacies at low-cost and presence of these pharmacies at key locations will create conducive environment for the manufacturers. Hence, to expand their customer base and gain revenue, some of the key players are joining hands with hospital and retail pharmacies.
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Consequently, growing popularity of generic drugs coupled with government initiatives to raise the awareness regarding these diseases will drive the growth in the market. Regionally, North America dominated the market and the trend is likely to continue over the forecast period. However, Asia is expected to gain significant revenue on the back of improved healthcare infrastructure and development of novel drugs across China, Japan, and India.
Key Takeaways:
- By drug class, demand is likely to remain high for cholesterol lowering medications sue to surge in cardiovascular diseases cases.
- By distribution channel, hospital pharmacies segment is projected to hold around 46% share of the global atherosclerosis drugs market by 2027.
- The retail pharmacies segment is set to reach a total market valuation of US$ 24 Bn by 2027.
- North America is projected to account for 34% market share of the global market by 2027.
- Europe atherosclerosis drugs market is poised to exhibit strong growth during the projection period.
- With rising penetration of generic drugs and surge in cardiovascular diseases, Asia Pacific is likely to emerge as a lucrative market for atherosclerosis drug through 2027
Growth Drivers:
- Rising incidence of atherosclerosis and other heart diseases is a key factor driving the global atherosclerosis drugs market.
- Increasing government initiatives along with growing awareness about atherosclerosis and its treatments will create prospects for the market during the forecast period.
- Continuous new product launches and approvals is expected to boost the global market through 2027.
Restraints:
- Low diagnostic rates are limiting the expansion of the global atherosclerosis drugs market.
- Side effects associated with atherosclerosis drugs is also restraining the market growth to some extent.
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Competitive Landscape:
Leading manufacturers of atherosclerosis drugs are focused on upgrading their product portfolios by means of new product launches and approvals. Besides this, they are investing heavily in research and development activities and forming partnerships and collaborations with other companies.
For instance,
- In December 2021, Novartis received the US Food and Drug Administration approval of Leqivo (inclisiran), for the treatment of adults with clinical atherosclerotic cardiovascular disease and other indications.
- In June 2020, The Korea Advanced Institute of Science and Technology developed a new nanoparticle drug combination for atherosclerosis.
Key Companies Profiled by Fact.MR
- GlaxoSmithKline Plc
- Sanofi
- Hoffmann-La Roche Ltd
- Bayer AG
- Novartis AG
- Merck & Co., Inc. (Merck Sharp & Dohme Corp)
- Janssen Pharmaceuticals, Inc. (Johnson & Johnson)
- Mylan N.V.
- Amgen Inc.
- Pfizer, Inc.
More Valuable Insights on Atherosclerosis Drugs Market
In the latest study, Fact.MR offers a detailed study on global atherosclerosis drugs market for the forecast period of 2020 to 2027. This study also highlights key drivers promoting the sales of Atherosclerosis Drugs through detailed segmentation as follows:
Drug Class
- Anti-platelet Medications
- Cholesterol Lowering Medications
- Fibric Acid and Omega-3 Fatty Acid Derivatives
- Beta Blockers
- Angiotensin-converting Enzyme (ACE) Inhibitors
- Calcium Channel Blockers
- Diuretics
- Others
Distribution Channel
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Questions Covered in the Atherosclerosis Drugs Market Report
- What is the projected value of the atherosclerosis drugs market in 2020?
- At what rate will the global atherosclerosis drugs market grow until 2027?
- Which are the factors hampering the growth in the atherosclerosis drugs market?
- Which region is expected to lead in the global atherosclerosis drugs market during 2020-2027?
- Which are the factors driving the atherosclerosis drugs market during the forecast period?
- What is the expected market value of the atherosclerosis drugs market during the forecast period?
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