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IN THE NEWSJune 02, 2021: Sun Pharmaceutical Industries Limited entered a collaborative agreement with Ferring Pharmaceuticals Pvt. Ltd. (Ferring), a Switzerland-based biopharmaceuticals MNC, to commercialize a room temperature stable formulation of obstetric drug, CARITEC (Carbetocin RTS) in India.
April 28, 2021: Merck Sharp & Dohme Corp. announced the complete acquisition of Pandion Therapeutics. After this acquisition, Pandion Therapeutics became a wholly-owned subsidiary of Merck Sharp & Dohme Corp.
Global Carvedilol Drug Market Highlights over 2022 – 2031
The global carvedilol drug market is estimated to grow at a significant CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing prevalence of cardiac diseases that result in heart failure, along with the growing cases of hypertension across the globe. Poor lifestyle is prevalent amongst the masses, including high sugar intake, lack of exercise, stressful lifestyle, and consumption of processed food, which is the primary cause of high blood pressure and cardiovascular diseases. According to the statistics by the World Health Organization (WHO), cardiovascular diseases killed 17.9 million people in 2019, which represents 32% of all deaths globally. Along with this, hypertension is another serious disease, which is known to affect over 1.28 billion adults aged 30-79 years worldwide. Carvedilol is only given to clinically stable patients in case of heart failure, as it is a non-selective adrenergic blocker, which cannot be given as a prescription medication. Moreover, the growing incidences of heart failure is also expected to drive the market growth. In addition to this, the market growth is projected to increase on the back of increasing medical R&D, along with the emergence of new and advanced medical technologies.
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The market is segmented by application into high blood pressure, congestive heart failure (CHF), ventricular dysfunction, and others, out of which, the congestive heart failure (CHF) segment is anticipated to hold a substantial share in the global carvedilol drug market over the forecast period on account of increasing prevalence of CHF. CHF is caused when muscles in the heart are unable to pump, mostly due to fluid build-up in the heart. High levels of cholesterol is the most prominent contributing factor for congestive heart failure.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Carvedilol Drug Market Regional Synopsis
On the basis of geographical analysis, the global carvedilol drug market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of rising prevalence of hypertension in low- and middle- income countries. As per a WHO report, two-third of the total hypertension cases occur in low- and middle-income countries.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the high prevalence of heart failure and high blood pressure, along with the presence of efficient healthcare infrastructure in the region. According to the data by the Center for Disease Control and Prevention (CDC), heart failure was the cause for 379,800 deaths in 2018. Moreover, 116 million adults have hypertension in the United States.
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The global carvedilol drug market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global carvedilol drug market includes the following segments:
By Product
By Application
By Distribution Channel
Growth Drivers
Challenges
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The growing prevalence heart diseases and hypertension is estimated to boost the market growth.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022 – 2031.
The major players in the market are Novartis AG, Sanofi-aventis Groupe, Abbott Laboratories, Merck & Co., Inc., Siemens Healthcare GmbH, Amgen Inc., Daiichi Sankyo Company, Limited, and Pfizer Inc.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product, application, distribution channel, and by region.
The congestive heart failure (CHF) segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Carvedilol has some side effects, such as, dizziness, and tiredness, and is unsafe for consumption during pregnancy, which is estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period owing to the increasing prevalence of heart failure in the region.
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