Antihypertensive Drugs Market Is Expected To Garner 3.1% CAGR Worldwide By Forecast Period 2021 – 2026
Pune, Maharashtra, India, February 15 2021 (Wiredrelease) Allied Analytics –:According to a new report published by Allied Market Research, titled, “The global antihypertensive drugs market accounted for $22,557 million in 2018, and is expected to reach $28,797 million by 2026, registering a CAGR of 3.1% from 2019 to 2026″.
Antihypertensive Drugs Market by Therapeutic Class (Diuretics, ACE Inhibitors, Calcium Channel Blockers, Vasodilators, Beta-adrenergic Blockers, and Others) and Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-commerce, and Others Distribution Channel): Global Opportunity Analysis and Industry Forecast, 2019–2026
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 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.
Key Findings of the Study:
Calcium channel blockers occupied one-fourths share of the global antihypertensive drugs market in 2018.
The ACE inhibitors segment is anticipated to grow with the highest CAGR throughout the forecast period.
The vasodilators accounted for more than one-fifths share of the market in 2018.
Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.
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.
By distribution channel, the hospitals segment occupied the largest share, due to rise in number of hospitals worldwide. Furthermore, antihypertensive drugs are prescription-based medications, which are mostly prescribed by the specialized healthcare professionals available in hospitals, thereby propelling the growth of this segment. Conversely, the e-commerce segment is expected to exhibit the fastest growth rate during the forecast period, owing to surge in the use of internet across the globe.
By distribution channel, it is categorized into retail pharmacy, hospital pharmacy, and e-commerce. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and rest of LAMEA). According to therapeutic class, the calcium channel blockers segment occupied the largest share in 2018, owing to lesser side effects exhibited by these drugs as compared to the other type of antihypertensive drugs. However, the ACE inhibitors segment is expected to grow at the fastest rate during the forecast period, due to benefits offered such as positive impact on overall health and decrease in progression of kidney diseases.
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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.
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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