Coronary Artery Disease Therapeutics Market Size

Coronary Artery Disease Therapeutics Market Analysis

The Coronary Artery Disease Therapeutics Market is expected to register a CAGR of 7.7% 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. Similarly, the demand for coronary artery disease drugs was significantly impacted during the pandemic owing to the increased risk of COVID-19 infection among patients with cardiovascular diseases. A study published in the Frontiers in Medicine in December 2021 indicated that despite having Coronary artery Disease (CAD) symptoms, 9.1% of patients did not see a medical practitioner due to fear of becoming infected with COVID-19. This led to a decline in market growth initially during the pandemic due to a decrease in the diagnosis of coronary artery disease and the lack of adoption of CAD therapeutics due to stringent lockdowns, supply chain restrictions, and production shutdowns. In the late pandemic, there has been an incline in the market growth of CAD therapeutics due to the rising adoption of CAD therapeutics in COVID-19 patients. For instance, according to the extensive research presented at the American Society of Anesthesiologists annual meeting in October 2022, high cholesterol was treated with statins by 30% of the 38,875 patients hospitalized for COVID-19 at 185 hospitals in the United States between January 1 and September 30, 2020, and found that statin users had a 37 percent lower COVID-19 mortality rate than non-users. In the late pandemic phase, there has been a positive impact on market growth due to the rise in the adoption of statins in COVID-19 patients.

The market is primarily driven by the surge in the prevalence of coronary artery disease across the globe, increasing investment in research and development of coronary artery disease therapeutics, and rising comorbidities such as atherosclerosis and hypertension. The geriatric population is expected to significantly impact the market studied, as people over 65 are more prone to chronic diseases. According to the World Health Organization Facts of 2021, the proportion of the global population aged 60 and up will nearly double from 12% to 22% between 2015 and 2050. By 2050, 80% of the world's elderly will live in low- and middle-income countries. The population is aging at a much faster rate than in the past. According to the British Heart Foundation, in August 2022, Coronary heart disease (CHD) will be the most common type of heart, and circulatory disease in the UK, and 2.3 million people will be living with CHD in 2021. Thus, the high burden of coronary heart disease is expected to increase the demand for its management, thereby contributing to the growth of the market.

Furthermore, growing incidence and prevalence rates of hypertension, high cholesterol, diabetes, and obesity across the world, government initiatives to increase awareness of the disease, and increasing investment in research and development activity are the key driving factors in the coronary artery disease therapeutics market. For instance, according to the National Institute of Health (NIH) 2022, the estimated NIH funding for Coronary Heart Diseases in 2021 and 2022 is USD 380 million and USD 395 million, respectively. Therefore, the rising funding for CAD will lead to increased research on CAD therapies, thereby leading to innovative therapies' development and market growth.

In addition, rising initiatives from the key market players are also expected to drive market growth over the forecast period. For instance, in December 2021, Novartis entered a commercial agreement with the NHS in England to address elevated LDL-C in eligible patients with coronary artery diseases across England. With this collaboration, the NHS and Novartis move into the implementation phase following the positive final recommendation from the National Institute for Health and Care Excellence (NICE) for the use of inclisiran in primary care for the treatment of adult patients with CAD. Such initiatives are expected to drive market growth due to the rise in the adoption of inclisiran in CAD in developed countries such as the UK.

Therefore, the rising prevalence of CAD, rising initiatives from the market players, the rising geriatric population, and rising research on CAD therapeutics are the factors expected to drive market growth. However, the high cost of treatment, limited awareness, and unavailability of proper healthcare infrastructure for therapeutics may restrain the market growth over the forecast period.