PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1579955
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1579955
Global Cardiovascular Disease Market is valued at approximately USD 171.55 Million in 2023 and is expected to expand at a robust growth rate of 5% during the forecast period from 2024 to 2032. Cardiovascular diseases, which affect the heart and blood vessels, have emerged as one of the leading causes of global mortality. This category of diseases predominantly affects the elderly population, necessitating the consistent use of cardiovascular medications. The severity of cardiovascular conditions often demands prolonged use of drugs, as abrupt discontinuation can pose significant risks to a patient's health.
The market is driven by several key factors, including the alarming increase in the incidence of cardiovascular diseases due to sedentary lifestyles and aging populations. According to the WHO, the adoption of inactive lifestyles is prevalent among 60%-85% of the population, contributing to the rising demand for cardiovascular drugs. Furthermore, regulatory approvals from the FDA, such as the approvals for Selexipag tablets and Norliqva oral solutions, highlight the growing pipeline of cardiovascular treatments. These developments are critical in addressing various cardiovascular conditions, thereby propelling market growth.
In addition to this, opportunities abound in the rising prevalence of hypertension, especially among the aging population. As the elderly population expands globally, so too does the demand for hypertension treatments, further fueling market growth. Retail pharmacies are also playing an increasingly prominent role in drug distribution, with their accessibility and convenience attracting cardiovascular patients.
However, challenges remain, particularly the lack of skilled healthcare professionals capable of administering complex cardiovascular treatments. Additionally, side effects associated with cardiovascular drugs, such as nausea, upset stomach, and erectile dysfunction, could hinder market expansion. Nevertheless, the growing focus on innovative treatment approaches and increasing investment in research and development continues to drive the industry forward.
The key regions considered for the Global Cardiovascular Disease Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Cardiovascular Disease Market in terms of revenue. The market growth in the region is being attributed to factors including leading research and development initiatives, advanced healthcare infrastructure, and a high prevalence of heart diseases. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by its burgeoning healthcare facilities, numerous generic drug manufacturers, and supportive government initiatives.