Cardiovascular Drugs Market

Global Cardiovascular Drugs Market Size (2024 to 2029)

The global cardiovascular drugs market is estimated to grow at a CAGR of 5.96% from 2024 to 2029. The global market was valued at USD 99.15 billion in 2023 and is predicted to be USD 140.33 billion by 2029 from USD 105.06 billion in 2024.

Cardiovascular drugs are a wide range of medications used to treat cardiovascular diseases. These drugs regulate an abnormal heart rhythm and deal with medical conditions associated with the circulatory system, such as arrhythmias, blood clots, coronary artery disease, high or low blood pressure, high cholesterol, heart failure, and stroke. Some of the critical cardiovascular drugs include quinidine, lidocaine, amiodarone, verapamil, and adenosine. 

MARKET DRIVERS

The growing population worldwide and the increasing patient population suffering from CVDs are propelling the growth of the cardiovascular drugs market.

As the world population exceeds 7 billion, the senior population is rising, with chronic diseases, which include cardiovascular diseases. The increasing prevalence of cardiovascular diseases across the globe is contributing to the global market growth. Cardiovascular diseases are one of the leading causes of death across the world. According to the American Heart Association, in 2015, approximately 45% of the American population suffered from some form of cardiovascular disease. In addition, this prevalence is expected to reach 45% by 2035. Due to the prevalence, efforts in the prevention and treatment of cardiovascular disease through drugs are rising, resulting in slower death rates and expanding the cardiovascular drug market. According to a press release published by Boehringer Ingelheim GmbH in 2021, nearly 60 million people or more people worldwide were affected by a chronic, disabling cardio-renal-metabolic illness known as heart failure.

Additionally, the increasing number of diabetic patients has immense potential for the growth of the cardiovascular drugs market. Other factors include increased smoking, unhealthy diets and obesity, a sedentary lifestyle, and harmful use of alcohol, leading to cardiovascular diseases. All these factors augment the adoption of cardiovascular drugs to treat cardiovascular diseases, accelerating the growth of the market. 

The increase in sedentary and busy lifestyles, stressful jobs, and changing consumer preferences for drugs drive the cardiovascular drug market, especially for chronic diseases such as cancer, diabetes, and cardiovascular disease. 

According to the World Health Organization, the prevalence of chronic diseases is expected to increase by 64% worldwide by 2025. These factors are expected to increase the patient pool globally, thus boosting the cardiovascular drugs market during the forecast period. In addition, increasing R&D spending for new cardiovascular drugs and increasing government initiatives to increase vigilance for different cardiovascular diseases are expected to drive further market growth.

In addition, several ongoing research activities of major players to develop technologically advanced cardiovascular drugs with reduced side effects, such as biosimilars, monoclonal antibodies, and peptide therapeutics to meet patient needs, are expected further to expand the cardiovascular drugs market during the forecast period. In addition, increasing rapid product launches significantly impact the cardiovascular drugs market. Moreover, favorable reimbursement policies and an awareness of the seriousness of cardiovascular diseases are further estimated to favor the market during the forecast period.

The escalating pharmaceutical industry worldwide is enhancing the production of cardiovascular drugs, creating opportunities for the market over the forecast period. The increasing number of hospitals and admissions for cardiovascular diseases enhances the demand for cardiovascular drugs, positively impacting expansion. Growing R&D investments by market players to introduce novel therapeutics for treating cardiovascular diseases will provide market growth opportunities for manufacturers to expand their portfolio worldwide. 

MARKET RESTRAINTS

Certain factors, namely strict regulations and side effects associated with cardiovascular drugs hamper the growth of the cardiovascular drug market. In addition, the expiration of patents for several highly effective drugs is also restraining the development of the cardiovascular drug market. On the other hand, the high costs associated with drugs significantly affect the market growth rate. Furthermore, the prices are unaffordable for people in developing economies having negligible reimbursement policies. As a result, the market in developing countries fails to provide for the unmet market needs.

Stringent regulations for drug approval and launch, leading to product delays and overtime consumption, which increases the product's pricing for regulations, are all expected to be challenges for manufacturers. The need for awareness left untreated in low-income regions is estimated to impede the market size growth.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Cardiovascular Drugs Market Analysis By Drug Type

The anticoagulants segment dominated the market in 2023 and is expected to expand rapidly due to their status as relatively expensive medicines that provide critical life-saving functions. These drugs are among the most often prescribed drugs in the world. Most of the geriatric population with cardiovascular diseases is being diagnosed and treated with anticoagulants to prevent and manage blood clots related to cardiovascular conditions. Anticoagulants are blood thinners that prevent heart strokes, which is driving the segment growth.  

The antihypertensive segment is expected to grow prominently over the forecast period due to the high adoption of these drugs by hypertension patients. Most people are experiencing hypertensive heart disease, where high blood pressure causes cardiovascular disease, which is enhancing the adoption of drugs, leading to segment growth. 

Global Cardiovascular Drugs Market Analysis By Disease Indication

The hypertension segment dominated the global cardiovascular drugs market due to the increased prevalence of Hypertension across the globe. The growing adoption of a sedentary lifestyle, increasing stress and anxiety among younger people, and the rising geriatric patient population are inducing Hypertension. High intake of an unbalanced diet raises the blood pressure levels in the body, which enhances the demand for antihypertensive drugs. 

The arrhythmia and hyperlipidemia segments are estimated to increase during the forecast period due to unhealthy lifestyle diets. 

Global Cardiovascular Drugs Market Analysis By End-User

The hospital pharmacies segment dominated the global market revenue due to the preference of many patients. Most people undergo diagnosis and treatment at hospitals, and patients prefer to purchase prescribed drugs at hospital pharmacies, driving the segment's growth. 

Retail pharmacies are maintaining a steady growth rate and are expected to grow prominently during the forecast period. 

The online pharmacies segment is projected to grow fastest during the forecast period due to the wide adoption of digital shopping platforms. These retailers offer discounts, ease of payment, and availability of different products, augmenting the segment growth. 

REGIONAL ANALYSIS

The APAC Cardiovascular drugs market dominated the global market, accounting for 42% of the global market share in 2023. The dominance of the APAC region can be attributed to many companies building their R&D facilities in the region; the availability of labor encourages manufacturing companies to invest in Asia. Moreover, increased awareness and favorable healthcare initiatives will support the growth of the cardiovascular drugs market in the region. The emerging markets, the growing prevalence of cardiovascular diseases, and the rising population in countries like China and India drive regional market growth. 

The North American Cardiovascular drugs market was the second-largest region, with 28% of the global market. North America is expected to dominate the global cardiovascular drugs market during the forecast period. This is due to an increased awareness of various heart diseases in the region. The United States is expected to have the highest market share for cardiovascular drugs, followed by Canada in North America. According to the United States CDC, high blood pressure, high lipid profile, and smoking are key risk factors for many cardiovascular diseases. About half of the American population (47%) has at least one of these risk factors. The CDC also estimates that a person in the United States dies every second from cardiovascular disease. These alarming statistics raise concerns about the need to control the threat accelerating the adoption of cardiovascular drugs leading to regional markets. The presence of key market players in the region is fueling the expansion of the market share. 

The European cardiovascular drugs market is expected to grow steadily during the forecast period. Germany, the UK, Spain, Italy, and France hold a significant share of the market due to the presence of advanced healthcare and major pharmaceutical companies and significant R&D institutes contributing to market size growth across the region. The growing aging population, the increasing prevalence of cardiovascular disease, the high incidence of obesity, and an unhealthy lifestyle drive the demand for the European cardiovascular drugs market.

The Latin American cardiovascular drugs market is predicted to hold a considerable share of the worldwide market during the forecast period. In Latin America, the population of cardiovascular diseases is gradually growing in countries such as Brazil and Argentina.

The cardiovascular drugs market in MEA was the smallest region globally in 2023. However, it is likely that the initiatives of local governments to achieve self-sufficiency in the manufacture of pharmaceuticals and the incentives to produce generics in countries like Brazil, South Africa, Saudi Arabia, etc., stimulate market growth in the Middle East and Africa.

KEY PLAYERS IN THE GLOBAL CARDIOVASCULAR DRUGS MARKET

Novartis AG, Merck & Co. Inc, Bristol-Myers Squibb, Sanofi, Boehringer Ingelheim, F. Hoffmann-La Roche Ltd, Gilead Sciences, Inc., Takeda Pharmaceuticals Company Ltd, Abbott Laboratories, Pfizer Inc. are some companies operating in the global cardiovascular drugs market.

RECENT HAPPENINGS IN THE MARKET

• In January 2023, Lupin Pharmaceuticals, a global player in drug discovery, launched a generic version of the combination drug in India following the patent expiry of Novartis' blockbuster cardiovascular drugs Sacubitril and Valsartan, which are indicated for patients with Heart failure.
• In January 2023, Glenmark Pharmaceuticals, a global pharmaceutical company, launched sacubitril and valsartan prescription tablets in India to treat heart failure, marketed under the brand 'Sacu V.'
• In May 2022, a subsidiary of Zydus Life Sciences Ltd. entered the U.S to market Selexipag tablets used to treat pulmonary arterial Hypertension in adults and received provisional approval from FDA.

DETAILED SEGMENTATION OF THE GLOBAL CARDIOVASCULAR DRUGS MARKET INCLUDED IN THIS REPORT

This research report on the global cardiovascular drugs market has been segmented and sub-segmented based on drug type, disease indication, end-users, and region.

By Drug Type

• Antihypertensive
• Antihyperlipidemic
• Anticoagulants
• Antiplatelet Drugs
• Others

By Disease Indication

• Hypertension
• Hyperlipidemia
• Coronary Artery Disease
• Arrhythmia
• Others

By End-Users

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa