Heart Failure Therapeutics Market to Grow with a CAGR of 14.68% through 2028
Expanding healthcare infrastructure, regulatory
support, and collaborative efforts are expected to drive the Global Heart
Failure Therapeutics Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Heart
Failure Therapeutics Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Heart
Failure Therapeutics Market stood at USD 6.20 billion in 2022 and is
anticipated to grow with a CAGR of 14.68% in the forecast period, 2024-2028.
This can be attributed to collaboration and partnerships. Collaboration between
pharmaceutical companies, healthcare providers, academic institutions, and
research organizations is fostering innovation. These partnerships facilitate
the sharing of knowledge, expertise, and resources, accelerating the
development of new therapies and treatment approaches.
Furthermore, gene and cell therapies hold promise for
heart failure treatment by addressing the underlying causes of the disease.
Research in this area is advancing, with the potential for groundbreaking
treatments in the near future.
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through XX Pages and an in-depth TOC on "Global Heart
Failure Therapeutics Market.”
The market is experiencing growth driven by several
key factors, including a robust product pipeline, a growing elderly population,
and increased research and development efforts in drug development. Another
significant factor contributing to this growth is the increasing prevalence of
diseases such as obesity, diabetes, hypertension, chronic pulmonary diseases,
and renal diseases, all of which are recognized as prominent comorbidities
associated with congestive heart failure (CHF). However, it's important to note
that the high saturation of generic drugs is expected to impede growth in the
foreseeable future.
CHF remains a global concern, characterized by a high
prevalence and significant morbidity and mortality rates. According to data
from the Global Health Data Exchange registry, there were approximately 64.34
million cases of CHF worldwide, with around 5.5 million cases reported in the
United States in 2022.
Currently, the pharmaceutical options for CHF are
evolving toward more effective treatment approaches through product approvals
and the introduction of new medications. For example, in February 2022, the FDA
approved Boehringer Ingelheim's Jardiance (empagliflozin) for reducing the risk
of cardiovascular death and hospitalization in adults. These new approvals and
launches are driving market growth.
Furthermore, the surge in research and development
activities and the presence of numerous drugs in the clinical pipeline create
lucrative opportunities and intense competition among companies. For instance,
in February 2022, the FDA accepted the New Drug Application (NDA) for
Cytokinetics' drug Omecamtiv Mecarbil, a selective cardiac myosin activator
known for its effectiveness in improving contractility associated with heart
failure. The pipeline of CHF clinical trial drugs includes Furoscix infusor, CardiAMP
cell therapy, Revascor (Rexlemestrocel-L), semaglutide, tirzepatide, cimlanod,
and others. The approval and subsequent launch of such drugs in the coming
years are expected to drive further growth.
Moreover, the increasing burden of diseases like
diabetes and obesity contributes to the rising prevalence of CHF in the
forecast period. For instance, research studies from the Centers for Disease
Control and Prevention (CDC) demonstrate a strong link between CHF and
diabetes, leading to an increased hospitalization rate in the United States.
According to articles published by the National Center for Biotechnology
Information (NCBI), approximately 35% of CHF patients also have diabetes
mellitus.
During the pandemic, the clinical trial sector
experienced setbacks, and the market witnessed disruptions in drug demand and
supply, with patients facing challenges in accessing healthcare. Government and
regulatory authorities-imposed restrictions that delayed clinical trial
processes. However, after the first quarter of 2021, the market regained
stability and resumed its regular pace.
The Global Heart Failure Therapeutics Market is
segmented into drug class, distribution channel, regional distribution, and
company.
Based on its drug class, the ACE inhibitors category
emerged as the dominant force within the market in 2022. This can be attributed
to its efficacy as a standalone treatment or its approved combinations
available in the market. Additionally, it holds the top position as the preferred
treatment option for patients suffering from congestive heart failure (CHF).
This category encompasses medications such as Vasotec, Epaned (enalapril),
Zestril, Qbrelis, Prinivil (lisinopril), and captopril. These inhibitors function
by blocking the production of Angiotensin-2, reducing arterial pressure,
thereby leading to an increased cardiac output, all without impacting heart
rate. This represents the most precisely targeted mechanism of action for
managing heart failure.
Moreover, the expected approval of expanded labels for
sodium-glucose co-transporter 2 (SGLT2) inhibitors specifically for CHF is
anticipated to drive growth in this segment. For instance, in May 2020, Farxiga
(dapagliflozin), and in February 2022, Jardiance (empagliflozin), received
label extensions for the treatment of CHF. These SGLT2 inhibitor drugs have
clinically demonstrated significant benefits in protecting the heart and have
shown a remarkable 35% reduction in hospitalization rates. Notably, this drug
class has also proven its clinical significance in managing CHF in patients who
do not have diabetes.
Based on distribution channel, hospital pharmacies
claimed the largest market share in 2022. However, it is anticipated that the
retail pharmacies segment will experience the most substantial growth in the
foreseeable future. Retail pharmacies are well-suited for a wide range of medications,
particularly in the context of homecare, given that the management of CHF often
requires extended medication support. Moreover, CHF drugs are typically
prescription medications, further bolstering the prospects of this segment.
Concurrently, the online pharmacies sector is
projected to expand at a noteworthy CAGR in the forecast period. Online
pharmacy platforms offer the convenience of purchasing medications.
Additionally, in emerging economies like India, companies such as Netmeds
Marketplace Ltd. and Tata 1mg are actively promoting the online procurement of
medicines. Nevertheless, the online purchase of prescription drugs faces
resistance from some individuals, which is expected to dampen the growth of the
online pharmacy segment.
Major companies operating in Global Heart Failure
Therapeutics Market are:
- Bayer AG
- Novartis AG
- Merck & Co., Inc.
- AstraZeneca PLC
- Bristol-Myers Squibb Co
- Amgen Inc
- Boehringer Ingelheim GmbH
- Pfizer Inc
- Johnson & Johnson
- Eli Lilly and Company
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“The global heart failure therapeutics market is on
the cusp of exciting advancements. From precision medicine and novel drug
classes to AI-powered diagnostics and gene therapies, the future holds
promising developments that will improve the lives of heart failure patients.
These trends reflect a commitment to delivering more effective, personalized,
and accessible care, ultimately enhancing the prognosis and quality of life for
individuals living with heart failure. As these trends continue to unfold, they
will reshape the landscape of heart failure therapeutics for the better,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Heart Failure Therapeutics Market By
Drug Class (ACE Inhibitors, Angiotensin 2 Receptor Blockers,
Beta Blockers, Diuretics, Aldosterone Antagonists, Inotropes, Others), By
Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online
Pharmacies), By
Region, By Competition Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Heart Failure Therapeutics Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Heart
Failure Therapeutics Market.
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