Technavio’s latest market research report on the global heart failure drugs market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new market research report on the global heart failure drugs market 2018-2022 under their healthcare and life sciences library. (Photo: Business Wire)
According to Technavio analysts, the global heart failure drugs market will grow at a CAGR of over 10% during the forecast period. The rising geriatric population is a major factor driving the market’s growth.
Americas is one of the major geographic segments in the global heart failure drugs market, with a market share of close to 45%, followed by EMEA and APAC. Rising prevalence of heart failure coupled with increasing R&D efforts and recent product launches in the region are expected to boost the demand for heart failure drugs in the Americas.
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The two emerging market trends driving the global heart failure drugs market according to Technavio research analysts are:
- Growing strategic alliances
- Investment inclination toward developing countries
Growing strategic alliances
As the global heart failure drugs market is dominated by generics, the market has the presence of several small and large players. Such a fragmented market results in the distribution of profits among too many participants. To overcome this situation, the market is witnessing a growing trend of strategic alliances and acquisitions where the stronger players buy the desired molecule or the entire firm.
“Vendors also form joint ventures for drug development or enter into a partnership or out-license the marketing or manufacturing rights for various drugs. For instance, in December 2015 AstraZeneca acquired ZS Pharma, a specialty pharmaceutical company with a strong product pipeline in the cardiovascular space,” says a senior analyst at Technavio for research on cardiovascular and metabolic disorders.
During the forecast period, companies AstraZeneca and Novartis that hold a major share of the market with their drugs Toprol-XL and Entresto respectively. These companies also hold a strong pipeline and are expected to remain market leaders during the forecast period.
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Global heart failure drugs market segmentation
This market research report segments the global heart failure drugs market by drug class, which includes beta blockers, ARBs, ACE inhibitors, and others.
The beta blockers segment held the largest market share in 2017, accounting for nearly 36% of the market. However, the market share for this segment is expected to decrease nearly 6% by 2022. The fastest growing application is ARBs, which will account for over 39% of the total market share by 2022.
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