Prils Market size is projected to reach USD 4 Billion by the end of 2035, growing at a CAGR of 6% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of prils was around USD 2 Billion. The growth of the market can be attributed to the increasing prevalence of high blood pressure. Lifestyle modifications and appropriate medication, such as prils, are frequently used to treat the disease.
When more people are diagnosed with hypertension and given prescriptions for blood pressure management, in turn, could increase the demand for market. According to estimates over 69 million senior adults in India are expected to have hypertension by the year 2050.
Factors that are believed to fuel the prils market growth include the rise in the pharmaceutical industry across the globe. As more people gain access to the medication, there may be an increase in demand as a result of greater accessibility and availability of prils in hospitals, pharmacies, and other locations.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~6% |
|
Base Year Market Size (2022) |
~ USD 2 Billion |
|
Forecast Year Market Size (2035) |
~ USD 4 Billion |
|
Regional Scope |
|
Application (Hypertension, Heart Failure, Chronic Kidney Disorder)
The hypertension segment is estimated to hold 50% share of the global prils market in the year 2035. The growth of the segment can be attributed to the increasing cases of hypertension across the globe. As more individuals with hypertension may need medications to control their blood pressure, this could lead to an increase in demand for market.
Besides prils are frequently combined with other antihypertensive drugs to improve blood pressure control which is further expected to contribute to the market growth. Around 970 million people worldwide, or over 25% of the population, have hypertension, and by 2025, that number is projected to rise by over 28%.
Distribution Channel (Hospital, Pharmacies)
Prils market from the hospital segment is expected to garner a significant share of 40% in the year 2035. Prils may be prescribed in hospitals for patients with comorbidities, such as diabetes or chronic renal disease that are frequently linked to hypertension or heart failure. They may be provided as part of the therapy plan for various comorbidities since many individuals admitted to hospitals may have several medical problems. As a result, the demand for prils in hospitals may be expanding along with the prevalence of these comorbidities. As a consequence, multiple opportunities for the segment's growth are expected in the next years.
Our in-depth analysis of the global prils market includes the following segments:
|
Type |
|
|
Distribution Channel |
|
|
Application |
|
North American Market Forecast
The prils market in North America is projected to be the largest with a share of about 41% by the end of 2035. The growth of the market can be attributed majorly to the increasing cases of obesity. For instance, the chance of developing hypertension and other cardiovascular disorders increases with obesity, which could result in a rise in the demand for hypertension drugs.
Further, the growing healthcare infrastructure in the region, along with the high prevalence of neurological disorders, is also anticipated to contribute to the market growth in the region. According to estimates, between 2017 and 2020, more than 40% of US people were obese, making it one of the most prevalent health issues in the country.
European Market Statistics
The prils market in Europe is estimated to hold the second-largest share of 31% by the end of 2035. The growth of the market can be attributed majorly to the increasing initiatives to assist the expansion of generic medications through pricing and reimbursement. Generic prils may be used more frequently as a result, which could raise demand for these drugs.
In addition, the region's favorable government policies and surging expenditure on research and development activities are also anticipated to boost market growth during the forecast period.
Author Credits: Radhika Gupta, Shivam Bhutani
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?