The global atherosclerosis drugs market is driven by factors such assurge in obesity in populace, increase in government initiatives to promote healthy lifestyle and development of new treatments for atherosclerosis
PORTLAND, Ore., May 23, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Atherosclerosis Drugs Market by Drug Type (Anti-platelet & Anticoagulant, Cholesterol Lowering Medication, ACE Inhibitors, and Others), by Route of Administration, (Oral, and Parenteral), and by Distribution Channel, (Hospital Pharmacies, Online Providers, and Drug Stores & Retail Pharmacies): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global atherosclerosis drugs industry generated $20.6 billion in 2022, and is anticipated to generate $27.7 billion by 2032, witnessing a CAGR of 3.0% from 2023 to 2032.
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Prime determinants of growth
Surge in the obesity in the populace, increase in government initiatives to promote healthy lifestyle and development of new treatments for atherosclerosis drive the growth of the global atherosclerosis drugs market. However, the side effects of atherosclerosis drugs restricts the market growth. Moreover, high growth potential of atherosclerosis drugs in emerging markets presents new opportunities in the coming years.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$20.6 billion |
|
Market Size in 2032 |
$27.7 billion |
|
CAGR |
3.0 % |
|
No. of Pages in Report |
250 |
|
Segments covered |
Drug Type, Route of Administration, Distribution Channel, and Region. |
|
Drivers |
Surge in obesity in populace Increase in government initiatives to promote healthy lifestyle Development of new treatments for atherosclerosis Rise in prevalence of cardiovascular diseases |
|
Opportunity |
High growth potential of atherosclerosis drugs in emerging markets |
|
Restraint |
Side effects of atherosclerosis drugs |
Covid-19 Scenario
- The COVID-19 pandemic had a negative effect on the global atherosclerosis drugs market owing to decrease in demand for atherosclerosis drugs due to the low hospitalization rate and many surgeries either canceled or postponed due to the pandemic.
- In addition, delays in diagnosis or treatment for atherosclerosis during pandemic decreased the adoption of drugs and hampered the market growth.
- However, the market is recovering after pandemic, and experiencing a stable growth for atherosclerosis drugs market owing to increase in number of patients visits for diagnosis of atherosclerosis, continuous product approvals and clinical trials for atherosclerosis.
The anti-platelet and anticoagulants segment to maintain its leadership status throughout the forecast period
Based on drug type, the anti-platelet and anticoagulant segment held the largest market share in 2022, accounting for more than half of the global atherosclerosis drugs market revenue, and is estimated to maintain its leadership status throughout the forecast period. Rise in prevalence of atherosclerotic cardiovascular led to increase in demand for anti-platelet drugs. However, the cholesterol lowering medication segment is expected to witness the fastest CAGR of 4.2% from 2023 to 2032.Cholesterol lowering medication drugs are proven to effectively reduce the risk of atherosclerosis, which is expected to drive the growth of the segment.
The oral segment to maintain its leadership status throughout the forecast period
On the basis of route of administration, the oral segment held the largest market share in 2022, accounting for more than four-fifths of the global atherosclerosis drugs market and is estimated to maintain its leadership status throughout the forecast period. The growth is attributed to the easy availability of wide variety of oral drugs, less expensive than other drugs, and easy to administer which is expected to drive the growth of the segment. However, the injectable segment is expected to witness the fastest CAGR of 4.5% from 2023 to 2032. This is due to the fact that injectable drugs are effective in the treatment of atherosclerosis is a major factor that propels the growth of segment.
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The drug stores & retail pharmacies segment to maintain its lead position during the forecast period
Based on distribution channel, the drug store & retail pharmacies segment accounted for the largest share in 2022, contributing to more than half of the global atherosclerosis drugs market revenue, and is projected to maintain its lead position during the forecast period. Easy availability of medications such in drug stores & retail pharmacies which drives the segmental growth. However, the online providers segment is estimated to showcase e the fastest CAGR of 4.1% from 2023 to 2032. The growth of segment is driven by easy availability of atherosclerosis drugs which helps patients buy products at ease and rise in usage of online apps
North America to maintain its dominance by 2032
Based on region, North America held the largest market share in terms of revenue in 2022, accounting for more than two-fifths of the global atherosclerosis drugs market revenue, and is likely to dominate the market during the forecast period. Easy availability of products for diagnosis, and higher healthcare expenditure, increase in awareness about early diagnosis of disease and higher adoption of drugs for the treatment of atherosclerosis promoted the growth of the atherosclerosis drugs market in North America. However, the Asia-Pacific region is expected to witness the fastest CAGR of 4.6% from 2023 to 2032. Rise in health awareness, increase in prevalence of atherosclerosis, and surge in awareness of preventive healthcare in the Asia-Pacific region, is expected to drive the growth of the atherosclerosis drugs market.
Leading Market Players: –
- Amgen Inc.
- Pfizer Inc.
- AstraZeneca
- Bayer AG
- Sanofi
- Novartis AG
- Viatris
- Johnson & Johnson
- Lupin
- Bausch Health Companies Inc.
The report provides a detailed analysis of these key players in the global atherosclerosis drugs market. These players have adopted strategy such product approval to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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