Heart Failure Drugs Market Size was valued at USD 11.6 billion in 2021 and is projected to grow from USD 12.28 Billion in 2022 to USD 20.57 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.9% during the forecast period (2023 - 2032).
In May 2023, the U.S. Food and Drug Administration approved a medication developed by Lexicon Pharmaceuticals Inc. for the treatment of heart failure in a diverse population of patients, including adults with type 2 diabetes. The company's inaugural FDA-approved oral medication is Sotagliflozin, which is sold under the brand name Inpefa. It has been previously rejected for certification in the United States as an adjunct to insulin treatment for type 1 diabetes. Sotagliflozin aids in the regulation of blood glucose levels and mitigates the likelihood of weight gain by inhibiting SGLT1 and SGLT2 proteins. Lexicon has announced that the drug will be available for purchase at a wholesale price that is comparable to that of other branded heart failure medications. The release date is set for the conclusion of June.
In July 2023, AstraZeneca Pharma India was granted permission by the Drugs Controller General of India to import Dapagliflozin tablets for the treatment of heart failure. The DCGI has granted the pharmaceutical business approval to import pharmaceutical formulations of a new medicine for sale, as indicated in a regulatory document. It was further stated that dapagliflozin capsules and tablets should be administered to adults with heart failure. This sanction paves the way for the product to be marketed in India for the designated use, subject to the acquisition of any required government permits.
January 2023: Glenmark Pharmaceuticals released tablets in India that contained a combination of sacubitril and valsartan for the treatment of cardiac disease. Sacu V is a cost-effective, innovative medication that has been identified as effective in alleviating symptoms associated with heart failure with reduced ejection fraction (HFrEF) and reducing the likelihood of cardiovascular mortality or hospitalization. A doctor's prescription is necessary for both daily doses of Sacu V, as per the manufacturer. It is FDA-approved for the treatment of chronic heart failure and HFrEF in order to reduce the likelihood of cardiovascular-related fatalities and hospitalizations.
The first and only small interfering RNA (siRNA) therapy to lower low-density lipoprotein cholesterol (also known as bad cholesterol or LDL-C) with two doses a year after an initial dose and one at three months was approved by the FDA in December 2021. From Novartis, Leqvio brings about significant decrease of LDL-C up to 52% versus placebo in certain atherosclerotic cardiovascular disease (ASCVD) patients on maximal tolerated statin therapy.
Thus, the market is projected to have a high growth rate over the forecast period owing to these factors mentioned above in North America until August 2021, when Health Canada permitted MYINFLA 0.5 mg for lowering cardiovascular risk in patients with coronary ailment.
A generic version of the combination drug by Lupin Pharmaceuticals, launched globally on January 2023 following the expiry of patent rights of Novartis' blockbuster heart drug Sacubitril and Valsartan, which will be marketed under two brand names, Valentas and Arnipin, indicated for patients with Heart Failure (HF).
For HF treatment, Glenmark Pharmaceuticals, a global pharmaceutical company, has introduced sacubitril + valsartan tablets in India under the brand name 'Sacu V' since January 2023.
During May 2022, Zydus Lifesciences Limited's subsidiary, Zydus Worldwide DMCC, got tentative approval from FDA to market Selexipag tablets used for treating pulmonary arterial hypertension (PAH) among adults.
Similarly on February 2022, Norliqva(amlodipine) oral solution was approved by FDA for treating hypertension in adult persons as well as children from six years old offering blood pressure lowering medication and coronary artery disease. These approvals are expected to expedite growth in the segment.
Johnson & Johnson reached an agreement to acquire Abiomed in November 2022. This deal made Johnson & Johnson MedTech (JJMT) a more valued cardiovascular innovator and helped it raise the standard of care for one of the most pressing unmet health conditions: heart failure and recovery.
A major driver of the growth of the heart failure drugs market is the strong drug pipeline under development. For instance, furosemide injection (SCP-101), sponsored by Johns Hopkins University in collaboration with his Scpharmaceuticals Inc., went into Phase 2 clinical trials in 2015. This injection is indicated for the treatment of heart failure. Furosemide and azosemide, sponsored by Hyogo College of Medicine, completed Phase 4 clinical trials in 2016. These drugs are used to treat heart failure. Sponsored by Otsuka Pharmaceutical Co., Ltd., tolvaptan was in Phase 3 clinical trials in 2016, and the drug is indicated for the treatment of heart failure in children.
Further, approval of new drugs by the Food and Drug Administration (FDA) is also expected to fuel the growth of the congestive heart failure drugs market. In 2016, the FDA approved his Byvalson from Ireland-based company, Allergan. This drug is used to treat high blood pressure. In 2015, the FDA approved Corlanor (ivabradine) from US-based company Amgen Inc. This drug treats chronic heart failure. In addition, rising geriatric population, unhealthy lifestyle, and growing awareness of chronic disease management are boosting the heart failure drugs market CAGR.
Due to the increasing work pressure and stress of the younger generation, the problem of heart failure disease is also increasing. People belonging to the elderly group already have many cardiovascular diseases, which will help boost the heart failure drugs market significantly. Even small changes in cardiovascular rhythms and velocities contribute to the significant growth of the cardiovascular drug market. Not only the elderly, but also the younger generation have many lifestyle-related cardiovascular diseases. Therefore, the heart failure Drugs Market has increased significantly with the prevalence of cardiac arrest among the people. However, the change in lifestyle such as excessive alcohol consumption, smoking and unhealthy diet habits causes heart problems is another factor driving the growth of the Heart Failure Drugs market revenue.
Based on End Users, the Heart Failure Drugs industry has been segmented into Hospitals, and specialty centers. Hospitals have seen the highest growth due to rapid demand and supply of cardiovascular drugs due to the ready availability of rare and commonly used drugs. Cardiovascular emergency medicines are readily available in hospital pharmacies, but pharmacies are very expensive and only available in hospitals.
Specialty centers is the next fastest growing segment due to that it provides specialty services focusing on specific business needs, including assistance relating. The ability to directly compare other available medicines also helps consumers to choose the right medicine.
August 2021 the Eli Lilly and Company announced that the US FDA had approved Jardiance (empagliflozin) 10 mg to reduce the risk of cardiovascular death plus hospitalization for heart failure in adults with HFrEF.
By Region, the study provides the market insights for Heart Failure Drugs into North America, Europe, Asia-Pacific and Rest of the World. North America Heart Failure Drugs market accounted for USD 5.01 billion in 2021 and is expected to exhibit a significant CAGR growth of 43.20% during the study period. This is attributed to the rise in the rate of cardiovascular disorders, increasing obesity cases among people and growing healthcare expenditure across the region.
Further, the major countries studied in the market report for Heart Failure Drugs are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe Heart Failure Drugs market accounts for one of the largest market share due to the availability of cutting-edge treatment facilities, government backing for the growth of the healthcare industry, and an increase in incidence of heart failure. Further, the Germany Heart Failure Drugs market held the largest market share, and the UK Heart Failure Drugs market was the fastest growing market in the European region.
The Asia-Pacific Heart Failure Drugs Market is expected to grow at the fastest CAGR from 2023 to 2030. This is due to growing patient pool, initiatives by the government to enhance quality of healthcare, rise in cardiovascular disorder cases and increase in disposable income. For instance, Australia's anticipated prevalence rate of CHF in 2020 ranged from 1.2% to 5.3%, primarily as a result of the nation's rising rates of diabetes and obesity. Moreover, China Heart Failure Drugs market held the largest market share, and the India Heart Failure Drugs market was the fastest growing market in the Asia-Pacific region.
Heart Failure Drugs Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Heart Failure Drugs market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments for Heart Failure Drugs such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Heart Failure Drugs industry escalating demand for effective drugs and treatment and their approval from authorized agencies to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the Heart Failure Drugs industry to the expansion of pharmacies in hospitals and residential areas and the burgeoning e-commerce industry providing easy availability of medicines at affordable rates and the facility of secured online payment methods. In recent years, Heart Failure Drugs industry has provided medicine with some of the most significant benefits. The Heart Failure Drugs market major player such as Amgen Inc. (US), AstraZeneca (UK), Novartis AG (Switzerland), and others are working to expand the market demand by investing in research and development activities.
AstraZeneca is focused on the discovery, development and commercialization of prescription medicines in the areas of oncology and biopharmaceuticals, including cardiovascular heart disease. In May 2020, in order to lower the risk of cardiovascular (CV) death and heart failure hospitalisation in individuals with heart failure (NYHA classes II–IV) and decreased ejection fraction (HFrEF) both with and without type 2 diabetes, AstraZeneca's Farxiga (dapagliflozin) was approved in the US (T2D).
Also, Novartis AG uses innovative science and technology to address some of society's toughest health problems. Find new ways to deliver and develop treatments and make them available to as many people as possible. Novartis Entresto tablets, formerly known as LCZ696, reduce the risk of cardiovascular death and heart failure hospitalization in patients with chronic heart failure (NYHA classes II-IV) and reduced ejection fraction (HFrEF). It is usually given in combination with other heart failure treatments instead of an ACE inhibitor or another angiotensin receptor blocker (ARB). A low ejection fraction means the heart is not contracting with enough force, resulting in less blood being pumped out. In February 2019, Blackstone's Life Sciences and Novartis AG launched Anthos Therapeutics to develop drugs for cardiovascular heart failure.
Heart Failure Drugs Industry Developments
February 2022 Empagliflozin's (Jardiance) label was expanded to include treatment for CHF. These SGLT2 inhibitor medications showed a 35% decrease in hospitalisation and strong cardioprotective benefits in clinical studies. Additionally, the medication class has shown clinical value in managing CHF in patients without diabetes.
February 2021 Forxiga, a medication used to treat adult heart failure with or without type-2 diabetes, has been approved in China, according to AstraZeneca.
January 2019 The FDA disclosed the approval granted regarding the addition of a disease indication which related to the prevention against the occurrence of VTE in acutely sick medical patients who were hospitalized, at risk. Thromboembolic complications were noticed in them. But no high risk was announced regarding bleeding, for rivaroxaban which is a Janssen Pharmaceutical product.
January 2019 An Indian business named Natco Pharma announced the release of the cardiovascular medicine valsartan-sacubitril, which is used to treat congestive heart failure. Valsartan-sacubitril is covered by a patent held by Novartis AG in India under the trade name Vymada.
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 11.60 billion |
| Market Size 2022 | USD 12.28 billion |
| Market Size 2032 | USD 20.57 billion |
| Compound Annual Growth Rate (CAGR) | 5.9% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018 & 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Amgen Inc. (US), AstraZeneca (UK), Novartis AG (Switzerland), and others |
| Key Market Opportunities | Rising cardiovascular disorders |
| Key Market Dynamics | Increasing developments of several heart failure drugs |
Heart Failure Drugs Market Highlights:
Frequently Asked Questions (FAQ) :
The Heart Failure Drugs market size was valued at USD 11.60 Billion in 2021.
The market for Heart Failure Drugs is projected to grow at a CAGR of 5.9% during the forecast period, 2023-2032.
North America had the largest share in the market for Heart Failure Drugs.
The key players in the market for Heart Failure Drugs are Amgen Inc. (US), AstraZeneca (UK), Novartis AG (Switzerland), and others.
The ACE inhibitors category dominated the Heart Failure Drugs market in 2021.
The hospital end-user had the largest share in the Heart Failure Drugs market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
