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Heart Failure Drugs Market will have Amgen Inc., AstraZeneca Plc and Bayer AG as dominant market participants
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Feb 02, 2022, 21:30 ET
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NEW YORK, Feb. 2, 2022 /PRNewswire/ — The heart failure drugs market potential growth difference is expected to grow by USD 2.69 billion from 2020 to 2025, according to the latest market outlook report from Technavio. The report also identifies the market to witness an accelerating growth momentum at a CAGR of 7.75% during the forecast period. Technavio also provides a comprehensive analysis on various factors influencing the market positively or adversely during the forecast period.
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Key Considerations for Market Forecast:
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Key Market Participants Analysis
The heart failure drugs market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The global heart failure drugs market is fragmented in nature, as many generic drug manufacturers and pharmaceutical giants are providing drugs for a disease. Companies are focusing on achieving a competitive edge by accomplishing new technologies and increasing their margins in response to changing market conditions in the end-use industries. In addition, vendors are competing based on factors such as operational cost, innovation, price, and product quality. Some of the factors that will likely make the market more competitive are the prices of raw material and end-products, the increasing rate of product demand, capacity expansion plans, and supply flow.
Some Dominant Players and their Product Offerings
The company operates in one business segment and it offers human therapeutics. The company offers heart failure drugs namely Omecamtiv Mecarbil.
The company generates revenue by developing and manufacturing pharmaceutical products. The company offers heart failure drugs namely Farxiga.
The company operates in key business segments including Pharmaceuticals, Crop science, and Consumer health. The company offers heart failure drugs namely Verquvo. In addition, the segment focuses on the development, production, and marketing of prescription products in the areas of oncology, ophthalmology, hematology, contrast agents, and diagnostic imaging equipment.
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Heart Failure Drugs Market 2021-2025: Segmentation Analysis
The heart failure drugs market share growth by the beta-blockers segment will be significant during the forecast period. The beta-blockers segment will continue to account for the largest market share during the forecast period as per this market outlook report from Technavio
North America emerged as the largest regional segment of the market. The market is growing in this region mainly due to the high incidence of CVDs in the US, which results in the growing consumption of CVD drugs. 38% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for heart failure drugs in North America. Huge investments in the pharmaceutical industry, the presence of pharmaceutical giants in the region, and high prevalence rate of heart failure cases, and the huge economic burden associated with it are some of the major factors supporting the dominance of the US in the region and even globally. The rising prevalence rate of heart failure cases coupled with the increasing R&D efforts and recent product launches in the region is expected to boost the demand for heart failure drugs in the region.
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Heart Failure Drugs Market 2021-2025: Drivers and Challenges
The heart failure drugs market is driven by rising geriatric population, an increase in chronic diseases, and a growing sedentary lifestyle. A sedentary lifestyle for several years is directly associated with the increased risk of CVDs, type 2 diabetes, and premature mortality. Chronic diseases such as diabetes, high blood pressure, and obesity are some of the potential factors leading to heart failure. There has been a continuous rise in chronic diseases, such as diabetes, leading to huge concern from healthcare professionals across the globe. These diseases are likely to lead to rising demand for heart failure drugs during the forecast period.
A highly genericized market is one of the key factors hindering the heart failure drugs market growth. The global heart failure drugs market is highly genericized, which means the generic versions of the drugs have captured a huge portion of the market. Generic substitution (GS) successfully increased the penetration of generic drugs and reduced the overall pharmaceutical expenses of patients. However, this increased the price competition in the industry and decreased the overall revenue generated by top companies in the branded drugs market.
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Heart Failure Drugs Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 7.75%
Market growth 2021-2025
$ 2.69 billion
YoY growth (%)
North America, Europe, Asia, and ROW
Performing market contribution
North America at 38%
Key consumer countries
US, Canada, Germany, UK, and China
Leading companies, competitive strategies, consumer engagement scope
Amgen Inc., AstraZeneca Plc, Bayer AG, Bristol-Myers Squibb Co., Daiichi Sankyo Co. Ltd., Eli Lilly and Co., Exelixis Inc., Gilead Sciences Inc., Novartis AG, and Pfizer Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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