REPORT HIGHLIGHT
Congestive heart failure drugs Market size was valued at USD 6,600.9 Million in 2022, expanding at a CAGR of 15.8% from 2023 to 2030.
Congestive heart failure (CHF) is a complex clinical illness caused by any anatomical or functional cardiac problem that inhibits the heart's ability to fill with or pump enough blood throughout the body. The most effective therapy for CHF is generally determined by the underlying cause of the heart failure, its severity, and any other medical disorders the patient may have. The goal of treatment for chronic congestive heart failure (CHF) is to enhance symptom management and quality of life, reduce hospitalizations, and lower overall mortality.
Congestive heart failure drugs Market - Market Dynamics:
- A rise in the geriatric population and an increase in the incidence of hypertension, obesity, and diabetes are expected to augment industry growth.
- Elderly people have more comorbid diseases and frequently take many drugs, making them more vulnerable to drug interactions and conditions that exacerbate heart failure. Obesity is also linked to other health issues such as sleep apnea and diabetes, both of which raise the risk of heart failure. According to the World Health Organization, 39 million children under the age of 5 were overweight or obese in 2020. As rising economies' healthcare infrastructure develops, there is an increasing need for modern medical treatments, especially medications for illnesses such as CHF providing growth opportunities for the market. However, Advanced treatments such as cardiac resynchronization therapy (CRT) and other medical devices can occasionally reduce the need for pharmaceuticals.
Congestive heart failure drugs Market - Key Insights:
- As per the analysis shared by our research analyst, the global Congestive heart failure drugs market is estimated to grow annually at a CAGR of around 15.8% over the forecast period (2023-2030)
- The Congestive heart failure drugs industry is projected to grow at a significant rate due to the growing awareness of sustainable growth
- Based on type segmentation, Left-sided Heart Failure was predicted to show maximum market share in the year 2022
- Based on drug class segmentation, Angiotensin II Receptor Blockers (ARBs were the leading type in 2022
- Based on distribution channel segmentation, hospital Pharmacies were the leading type in 2022
- On the basis of region, North America was the leading revenue generator in 2022
Congestive Heart Failure Drugs Market- Segmentation Analysis:
- The Global Congestive Heart Failure Drugs Market is segmented on the basis of Type, Drug Class, Distribution Channel, and Region.
- The market is divided into three categories based on type: Left-sided Heart Failure, Right-sided Heart Failure, and High-output Heart Failure. Left-sided heart failure is more prevalent, and it is further subdivided into heart failures with reduced ejection fraction (HFrEF) and heart failures with maintained ejection fraction (HFpEF).
- The market is divided into two categories based on Drug Class: ACE Inhibitors, Angiotensin 2 Receptor Blockers, Beta Blockers, Diuretics, Aldosterone Antagonists, Inotropes, and Others. The Angiotensin 2 Receptor Blockers dominate the market and are likely to maintain their dominance during the forecast period. Angiotensin II Receptor Blockers (ARBs) are an essential class of drugs used to treat a variety of cardiovascular disorders, including congestive heart failure (CHF), particularly in patients who cannot tolerate ACE inhibitors.
- The market is divided into two categories based on Distribution Channels: Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. The hospital Pharmacies sector dominates the market. Hospital pharmacies are essential in the distribution and dispensing of medications for a variety of diseases, including congestive heart failure (CHF).
Congestive heart failure drugs Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to drive the growth of the Congestive Heart Failure Drugs Market, due to a Surge in medical spending, high awareness about cardiac health, and an increase in the availability of healthcare services. The United States has one of the world's largest per capita healthcare expenses. This significant expenditure inevitably increases access to medications and therapies. According to the Center for Medicare and Medicaid Service, U.S. healthcare spending will grow 2.7 percent in 2021, reaching USD 4.3 trillion or USD 12,914 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 18.3 percent. Europe held the second largest region for the growth of this market, due to a rise in spending on research & development activities.
Congestive heart failure drugs Market- Competitive Landscape:
The market for congestive heart failure (CHF) medications has seen a variety of participants, ranging from established pharmaceutical behemoths to newer entrants focused on cutting-edge therapy. While several prominent pharmaceutical companies are developing novel treatments for CHF, there is also a substantial market for generic medications, especially because many of the earlier CHF treatments have had their patents expire. The CHF medicine market has seen a sufficient number of mergers and acquisitions, with larger players acquiring or collaborating with smaller companies to bring novel treatments into their pipelines. For Example, on 6 march 2023, Merck, known as MSD outside the United States and Canada, announced that the U.S. Food and Drug Administration (FDA) has approved VERQUVO, a soluble guanylate cyclase (sGC) stimulator, to reduce the risk of cardiovascular death and heart failure hospitalization following a hospitalization for heart failure or need for outpatient intravenous (IV) diuretics in adults with symptomatic chronic heart failure and ejection fraction less than 45%.
Recent Developments:
On March 1, 2023, Amgen (NASDAQ: AMGN) announced new Repatha (evolocumab) combined data from the Phase 3 FOURIER and FOURIER Open Label Extension (OLE) studies and the Phase 2 OCEAN(a)-DOSE study of investigational olpasiran, a siRNA that reduces lipoprotein(a) [Lp(a)] by more than 90%.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CONGESTIVE HEART FAILURE DRUGS MARKET KEY PLAYERS
- Bayer AG
- Novartis AG
- Merck & Co., Inc.
- AstraZeneca
- Bristol-Myers Squibb Company
- Amgen Inc.
- Boehringer Ingelheim International GmbH
- Pfizer, Inc.
- Johnson & Johnson Services, Inc.
- Otsuka Pharmaceutical Co., Ltd.
- Eli Lilly and Company
- Novo Nordisk A/S
GLOBAL CONGESTIVE HEART FAILURE DRUGS MARKET, BY TYPE
- Left-sided Heart Failure
- Right-sided Heart Failure
- High-output Heart Failure
GLOBAL CONGESTIVE HEART FAILURE DRUGS MARKET, BY DRUG CLASS
- ACE Inhibitors
- Angiotensin 2 Receptor Blockers
- Beta Blockers
- Diuretics
- Aldosterone Antagonists
- Inotropes
- Others
GLOBAL CONGESTIVE HEART FAILURE DRUGS MARKET, BY DISTRIBUTION CHANNEL
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
GLOBAL CONGESTIVE HEART FAILURE DRUGS MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA