According to Vision Research Reports, the global atherosclerosis drugs market size surpassed at US$ 45.9 Bn in 2019, and is expected to expand at a CAGR of 2.5% during the forecast period of 2019 to 2027.
Atherosclerosis Drugs Market size is projected to surpass around US$ 57 billion by 2027, the rising prevalence of atherosclerosis and cardiovascular disease, and development of new treatments are anticipated to drive the global atherosclerosis drugs market during the period of forecast.
Atherosclerosis is one of the major causes of cardiovascular diseases, and some causative comorbidities associated with it are obesity, diabetes, overweight, unhealthy diet, high blood pressure, and elevated levels of cholesterol. Various drugs, such as statins, are the first line treatment for atherosclerosis. Apart from this, fibrates, calcium channel blockers, beta blockers, angiotensin converting enzyme inhibitors, and diuretics are also used for atherosclerosis treatment. Moreover, PCSK 9 is the new therapy for coronary atherosclerosis plaque formation. Atherosclerosis is also associated with vascular diseases.
In terms of drug class, the cholesterol lowering medications segment held a major share of the global atherosclerosis drugs market in 2019. This segment is likely to maintain its dominance during the forecast period, owing to the increase in use of statins for the treatment of atherosclerosis. The cholesterol lowering medications segment is anticipated to grow at a rapid pace during the forecast period, due to the introduction of new therapy drugs such as PCSK 9 inhibitors. The fibric acid and omega-3 fatty acid derivatives segment held a significant share of the atherosclerosis drugs market, and is likely to expand at a moderate CAGR between 2019 and 2027. The expansion of this segment can be attributed to the rise in the prevalence of cardiovascular events such as stroke, heart failure, etc.
Based on distribution channel, the hospital pharmacies segment accounted for a major share of the atherosclerosis drugs market. This segment is projected to grow at a moderate CAGR during the forecast period. The growth of this segment can be attributed to the rise in awareness about cardiovascular treatment, and usage of novel drugs by physicians and patients. The online pharmacies segment held a significant share of the global atherosclerosis drugs market, and is anticipated to grow at a moderate CAGR during the forecast period. Rise in patient preference for online channels due to high adoption of e-Commerce is anticipated to drive the online pharmacies segment.
Popularity of Generic Drugs Poised to Overshadow Atherosclerosis Drugs Market Growth
In March 2019, the U.S. Food and Drug Administration approved a novel generic drug of Diovan to bridge the high demand and low supply gap of this critical drug, on account of multiple recalls of valsartan products manufactured by several brands. After two months, Zydus Cadila announced that it has received approval for Chlorthalidone, a generic version of Thalitone produced by Pfizer.
These and many companies have scrambled towards the development of generic drugs to offer the near-same benefits of branded drugs at a low cost. The rapid rise in the penetration of generic drugs in parallel to increasing awareness among consumers about the cost benefits of these drugs is likely to curb the growth potential of the atherosclerosis drugs market.
Also, heart strokes and cardiovascular dysfunction are the symptoms associated with atherosclerosis conditions, which could lead to sudden death. On account of the severity of these symptoms, the survival rate is low among patients, which reduces the diagnosis percentage of atherosclerosis.
Distribution Partnerships with Retail Pharmacies Will Remain Beneficial
According to the statistical data of the TMR study, retail pharmacies will grow as the key point-of-sales channel for atherosclerosis drugs, as they are established at even the remotest of locations, thereby making it convenient for consumers to present prescriptions and purchase drugs. In addition, retail pharmacists offer a more consultative role regarding the route of administration and possible side effects of drugs. Retail pharmacies have the presence of several brands, which makes them a suitable purchase point for patients. However, hospital pharmacists operate in a more clinic-oriented manner by having significant contact with doctors and nurses, and they manage their inventories with only specific brands.
North America held a major share of the global atherosclerosis drugs market in 2019. It is primarily driven by factors such as presence of key market players, highly structured healthcare industry, and key developments by market players, such as product launch approvals, key mergers, and acquisitions. For instance, in October 2019, Johnson & Johnson received approval from the U. S. Food and Drug Administration for INVOKANA, to reduce cardiovascular events such as heart attacks and stroke. This product approval enabled the company to strengthen its portfolio in the U.S. In December 2017, Amgen Inc. received approval from the U.S. Food and Drug Administration for REPATHA. This product approval enabled the company to enhance its product portfolio in the U.S. Moreover, high awareness of cardiovascular diseases among people is leading to the adoption of new therapies for atherosclerosis. This factor is anticipated to drive the atherosclerosis drugs market in the region.
Europe held the second-largest share in the global atherosclerosis drugs market in 2019. The growth of the atherosclerosis drugs market in the region can be attributed to the increase in the prevalence of cardiovascular diseases and strategic developments by key players. For instance, according to the European Cardiovascular Disease Statistics, in Europe, approximately 19% men and 20% women died of ischemic heart diseases in 2017. In May 2019, Amgen, Inc. received approval of the European Commission for REPATHA. This approval enabled the company to widen its product portfolio in Europe.
Asia Pacific accounted for a significant share of the global atherosclerosis drugs market in 2019, and this market in the region is expected to grow at rapid pace during the forecast period. Increase in the number of people suffering from cardiovascular diseases, product approvals, and rise in awareness about cardiovascular diseases are factors anticipated to fuel the growth of the atherosclerosis drugs market in the region. For instance, in January 2019, Amgen Inc. received the National Medical Products Administration (NMPA) approval for REPATHA in China. This product approval is expected to enable the company to enhance its product portfolio and strengthen its market position in China. According to an article published in Circulation Journal, atherosclerosis is common among the Japanese population, and is one of the leading causes of death, reflecting high stroke mortality.
Key players are expanding their footprint to strengthen their position in the global atherosclerosis drugs market. Increase in the number of patient population and development of new effective treatments for atherosclerosis offer lucrative opportunities to key players to increase their share in the atherosclerosis drugs market. Manufacturers are engaging in new product development, collaborations, and distribution. For instance, in October 2019, Bayer HealthCare, a subgroup of Bayer AG, received approval for Adempas from the U.S. Food and Drug Administration. In May 2019, Pfizer, Inc. received U.S. FDA approval for VYNDAQEL. It reduces cardiovascular mortality and cardiovascular-related hospitalization. In January 2017, Johnson & Johnson acquired Actelion Ltd. This acquisition enabled the company to enhance its cardiovascular and metabolic therapeutic segments.
Prominent players operating in the global atherosclerosis drugs market are GlaxoSmithKline Plc, Sanofi, F. 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. and Pfizer, Inc.
By Drug Class
By Distribution Channel
Scope of the Report
VRR’s report on the global atherosclerosis drugs market studies the past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market for the forecast period of 2019 to 2027. The report provides the overall market revenue of the global atherosclerosis drugs market for the period of 2017–2027, with 2020 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global atherosclerosis drugs market for the forecast period.
This report has been prepared after extensive primary and secondary research. Primary research involves bulk of the research efforts, wherein, analysts carry out interviews with industry leaders and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global atherosclerosis drugs market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have employed a combination of the top-down and bottom-up approaches to study various phenomenon in the global atherosclerosis drugs market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global atherosclerosis drugs market. These indices serve as valuable tools for existing market players, as well as for entities interested in entering the global atherosclerosis drugs market.
The report delves into the competition landscape of the global atherosclerosis drugs market. Key players operating in the global atherosclerosis drugs market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of the players in the global atherosclerosis drugs market that have been profiled in this report.
Key Questions Answered in the Atherosclerosis Drugs Market Report
A unique research methodology has been utilized by VRR to conduct comprehensive research on the growth of the global atherosclerosis drugs market, and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global atherosclerosis drugs market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of VRR’s study on the atherosclerosis drugs market as primary sources.
These primary and secondary sources have provided exclusive information during interviews, which serves as a validation from atherosclerosis drugs market leaders. Access to extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global atherosclerosis drugs market with accuracy. The study also uses the top-down approach to assess the numbers for each segment, and the bottom-up approach to counter-validate them. This has helped in reaching VRR’s estimates on the future prospects of the global atherosclerosis drugs market more reliably and accurately.