Cardiovascular Drugs Market Size

Cardiovascular Drugs Market Analysis

The cardiovascular drugs market is expected to witness growth significantly at a CAGR of 3.8% during the forecast period.

• The COVID-19 pandemic affected healthcare systems globally and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients with cardiovascular diseases to significant risks. However, the demand for cardiovascular drugs increased during the pandemic owing to the increased risk of infection among cardiovascular diseases (CVDs). Several research also suggested the efficiency of cardiovascular drugs among COVID-19-infected patients. For instance, as per a research article published in the British Journal of Clinical Pharmacology in June 2021, the relationship between COVID-19 and cardiovascular drugs is important because patients who are more likely to contract SARS-CoV-2 infection may be taking cardiovascular medications which may lessen the cardiovascular damage brought on by COVID-19. In addition, as per the researchers of the study mentioned above, cardiovascular medications like Angiotensin-converting-enzyme inhibitors (ACEIs) or Angiotensin II Receptor Blockers (ARBs) may directly contribute to COVID-19 pathology and alleviate the cardiovascular injury caused by COVID-19. Such research supporting the use of cardiovascular drugs among COVID-19 patients generated a demand for cardiovascular drugs. Thus, the pandemic showed a considerable impact on the market studied, and it is anticipated to fuel the growth of the market studied during the forecast period.
• The rising prevalence of CVDs globally, growing research and development (R&D) investments in efficient drug development, and increasing availability of reimbursement policies are the major factors that contribute to the market growth over the forecast period.
• The number of patients with CVDs is rising and has become a public health concern worldwide. For instance, as per a press release published by Boehringer Ingelheim GmbH in August 2021, nearly 60 million people or more people worldwide were affected by the chronic, disabling cardio-renal-metabolic illness known as heart failure in the previous year. Additionally, as per the data released by the American College of Cardiology in December 2022, CVDs remained the major cause of mortality, and in 2021, they accounted for 185 million disability-adjusted life years (DALYs) globally. Thus, new therapy alternatives are urgently needed to control the high burden of this disease. This is predicted to drive demand for the availability of new cardiovascular drugs available globally and fuel the studied market growth.
• Furthermore, the increasing number of admissions in hospitals, as well as in critical care units owing to CVDs, are also creating demand for the development of cardiovascular drugs for treatment. For instance, as per data released by the British Heart Foundation (BHF) in April 2023, nearly 11,39,140 inpatient admissions for heart and circulatory diseases were there in the National Health Service hospitals in the United Kingdom, among which 2,73,991 admissions were for coronary heart disease, and 1,14,452 number of admissions were there for heart failure during 2021-2022 period. Hence, these CVD-related hospital admissions fueled the need for the availability of cardiovascular drugs for treatment, and this is expected to drive the growth of the market studied over the analysis period.
• Moreover, frequent product approvals are also expected to contribute to the market growth globally. For instance, in February 2022, the FDA expanded its approval of empagliflozin (Jardiance) for use in adults with heart failure (HF), regardless of ejection fraction, to reduce the risk of cardiovascular death and HF hospitalization. The medication was approved in August 2021 to reduce the risk of cardiovascular death and HF hospitalization in adults with HF with reduced ejection fraction (HFrEF).
• In addition, in August 2021, Jardiance (empagliflozin) 10 mg was approved by the Food and Drug Administration (FDA) to reduce the risk of cardiovascular death plus hospitalization for heart failure in adults with heart failure with reduced ejection fraction (HFrEF). Therefore, due to rising hospital admissions and an increase in product approvals, the studied market is expected to grow significantly during the analysis period.
• However, a strict regulatory process and the high cost of the drugs are expected to restrain the market growth during the study period.