Hypertension Drugs Market 2023-2030: Current Scenario and Future Prospects
The size of the global market for hypertension drugs was estimated at USD 25,135.2 million in 2021 and is anticipated to increase at a CAGR of 3.2% over the forecast period. The market has shown remarkable resilience despite challenges posed by the COVID-19 pandemic. A recent report reveals that expanding activities by major market participants, increasing prevalence of pulmonary arterial hypertension (PAH), adoption rates, accessibility of reimbursement, and the introduction of generic drugs are some of the main factors driving the market growth.
Access Full Report: https://www.fairfieldmarketresearch.com/report/hypertension-drugsmarket
According to the American Lung Association, the United States sees 500 to 1000 new cases of PAH diagnosed each year, while other ailments connected to hypertension, such as cirrhosis of the liver, connective tissue disorders, congenital cardiac defects, and infections, contribute to the rising need for pulmonary arterial hypertension medications.
One of the key drivers of market expansion is the increasing number of patents expiring, providing opportunities to offer generics at reasonable prices. The market is also anticipated to be boosted by increased research and development efforts and regulatory approvals in both established and developing markets, leading to a higher demand for and consumption of generic drugs.
The market for hypertension drugs has also seen a surge in demand due to the rising number of people with high blood pressure and hypertension, attributed to sedentary lifestyles and unhealthy eating habits. The adoption of combination medicines, which treat different hypertension mechanisms, is also contributing to market growth, reducing the risk of cerebrovascular accidents and coronary problems. Additionally, the development of innovative treatments like imidazolines, monatepil, and neutral endopeptidase inhibitors further drives growth in the market.
However, the market is not without its challenges. One of the primary restraints to market growth is the lack of awareness among the public about the usage of antihypertensive medications, especially in developing countries. Poor drug adherence is also a significant issue, with patients often discontinuing medication without completing their prescribed course.
Regionally, North America currently holds a substantial share in the hypertension drugs market, driven by the high incidence of hypertension and related disorders in the region. However, the Asia Pacific region is expected to witness the fastest growth rate in the coming years, fueled by the increasing use of generic drugs, the presence of major pharmaceutical companies, and the evolution of the healthcare system.
Prominent players in the Hypertension Drugs Market include AstraZeneca plc, Boehringer Ingelheim International GmbH, Daiichi Sankyo Company, Limited, Johnson & Johnson, Lupin, Novartis AG, Merck & Co., Inc, Pfizer Inc., Sun Pharmaceutical Industries Ltd. (Ranbaxy Laboratories), and SANOFI.
Despite the challenges faced during the COVID-19 pandemic, the Hypertension Drugs Market is expected to continue its growth trajectory, driven by the launch of new diseasemodifying therapies, increasing need for more effective drugs, and the expansion of generics in the market.
Email: sales@fairfieldmarketresearch.com