North America dominated the Antihypertensive Drugs Market | Registering a CAGR of 3.1% by 2026.
Pune, Maharashtra, India, December 17 2020 (Wiredrelease) Allied Analytics –:Rise in the geriatric population, surge in healthcare expenditure, and rise in prevalence of hypertension across the globe drive the growth of the global antihypertensive drugs market
The global antihypertensive drugs industry was pegged at $22.56 billion in 2018 and is projected to reach $28.79 billion by 2026, registering a CAGR of 3.1% from 2019 to 2026.
Rise in the geriatric population, surge in healthcare expenditure, and rise in prevalence of hypertension across the globe drive the growth of the global antihypertensive drugs market. However, patent expirations of blockbuster drugs hamper the market growth. On the contrary, high growth potential in developing countries is expected to create lucrative opportunities in the near future.
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The demand for antihypertensive drugs is on a rise, owing to surge in incidence of hypertension. Furthermore, rise in awareness related to treatment of hypertension across the globe is another factor that fuels the growth of the market.
The factors that significantly contribute toward the growth of the global antihypertensive drugs market include surge in incidence of hypertension across the globe. Furthermore, rise in awareness related to complications associated with hypertension acts as a major factor that fuels the growth of the market. Moreover, increase in geriatric population and sedentary lifestyle boost the growth of the market. However, recent patent expirations hinder the growth of the antihypertensive drugs market. On the contrary, surge in research related to antihypertensive drugs is expected to offer lucrative opportunities during the forecast period.
The hospital pharmacy segment held the largest share
The hospital pharmacy segment dominated the market in 2018, accounting for more than half of the global antihypertensive drugs market, owing to increase in the number of hospitalized NASH patients, surge in number of hospital pharmacies, improvement in structure of hospital pharmacies in the emerging countries such as China and India. However, the e-commerce websites & online drug stores segment is projected to register the fastest CAGR of 4.2% during the study period, due to surge in preference for online purchasing of drugs over the traditional methods, rise in the number of Internet users, and increase in awareness of online pharmacy.
North America dominated the market
The global antihypertensive drugs market across North America held the largest share in 2018, accounting for more than one-third of the market, owing to the availability of the antihypertensive drugs and rise in prevalence of hypertension due to surge in geriatric population in the region. However, the market across the Asia-Pacific region is anticipated to portray the fastest CAGR of 4.2% during the forecast period, owing to surge in awareness related to use of antihypertensive drugs and the presence of active key players in the region.
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The global antihypertensive drugs market is highly competitive, and prominent players have adopted various strategies for garnering maximum market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Boehringer Ingelheim GmbH, Merck KGaA, Johnson and Johnson, Bayer AG, Pfizer, Inc. Takeda Pharmaceutical Co., Ltd., AstraZeneca plc, Daiichi Sankyo Company, Sanofi S.A., and Novartis International AG.
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