Congestive Heart Failure Drugs Market 2030: The Future of Injectable Formulations

Posted on 2024-12-20 by researchinsights in Healthcare // 0 Comments

Congestive Heart Failure Drugs Market Growth & Trends

The global Congestive Heart Failure drugs market size is expected to reach USD 19.85 billion in 2030 and is projected to grow at a CAGR of 14.6% from 2024 to 2030. The increase in the prevalence of congestive heart failure (CHF), the rising aging population leading to increased risk of disease, and growing research and development for better treatment approaches are the key factors augmenting the growth. In 2020, around 64.34 million people worldwide were suffering from heart failure. In addition, its estimated prevalence rate is high in patients with diseases such as diabetes and hypertension.

Increasing research and development for better treatment options is a major factor behind the presence of multiple products in the pipeline. Novo Nordisk’s Semaglutide, Zensun’s Neucardin, Bayer’s vericiguat, and AstraZeneca’s AZD4831 are among the prominent drug candidates. Moreover, approval of an extended label for sodium-glucose co-transporter 2 (SGLT2) inhibitors for CHF is expected to fuel market growth. For instance, in February 2022, Jardiance (empagliflozin) and in May 2020, Farxiga (dapagliflozin) received label expansion for the treatment of CHF.

Gather more insights about the market drivers, restrains and growth of the Congestive Heart Failure Drugs Market

Key players such as AstraZeneca; Bristol-Myers Squibb Company; Amgen Inc.; and Boehringer Ingelheim are strategically engaged in geographical expansions, regulatory approvals, collaborations, and partnerships through mergers and acquisitions in emerging and economically favorable regions. For instance, in February 2021, AstraZeneca announced the approval of Forxiga (dapagliflozin) in China, indicated for CHF with or without type-2 diabetes. Before China, the drug was already approved in the U.S., Europe, and Japan for the same indication.

COVID-19 impacted the demand and supply of drugs, and patients faced difficulty in healthcare access, resulting in a decline in product demand amid the pandemic. Due to imposed restrictions, research and development saw a setback in clinical trial proceedings. However, after the pandemic, the industry regained its pace.

Congestive Heart Failure Drugs Market Report Highlights

In 2021, the ACE inhibitors segment held the largest share due to its high prescription rate and market penetration
By drug class, the others segment is expected to be the fastest-growing segment over the forecast period due to the launch of sodium-glucose co-transporter 2 (SGLT2) inhibitors
By distribution channel, the retail pharmacies segment is expected to witness lucrative growth over the forecast period due to its high compatibility with home care settings and prescription drugs
North America congestive heart failure drugs market held the largest share of 37.6% in 2023. This can be attributed to the presence of key players, favorable funding assistance, and increased patient awareness

Congestive Heart Failure Drugs Market Segmentation

Grand View Research has segmented the global Congestive Heart Failure (CHF) drugs market report based on drug, product, distribution channel, and region:

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