Global Carvedilol Drug Market to Grow at a Significant CAGR During 2022-2031; Market to Grow on Account of the Increasing Prevalence of Cardiovascular Diseases, along with High Mortality Rate from Heart Failure

New York, July 26, 2022 (GLOBE NEWSWIRE) — Cardiovascular disease (CVD) cases have been increasing exponentially over the years, from 271 million cases of total CVD prevalent in 1990 to 523 million cases in 2019, and from 12.1 million deaths from CVD in 1990 to 18.6 million deaths in 2019. Years lived with a disability doubled from 17.7 million to 34.4 million throughout that time, according to global trends for disability-adjusted life years (DALYs) and years of life lost.

Research Nester has published a detailed market report on ‘Global Carvedilol Drug Market’ for the forecast period i.e. 2022 – 2031 which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions – North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.

According to World Health Organization (WHO), with 17.9 million deaths per year, cardiovascular diseases (CVDs) are the leading cause of death worldwide. The global carvedilol drug market is estimated to grow at a significant CAGR over the forecast period. The growth of the market can be ascribed to the rising incidence of cardiovascular diseases (CVDs), mortality on account of CVDs, and the increasing incidence of hypertension around the world. For instance, one in four men and one in five women, or more than a billion individuals, suffer from hypertension, which affects 1.13 billion people globally. Carvedilol is a non-selective adrenergic blocker and not prescribed in general so, it is only administered to clinically stable individuals with heart failure. Additionally, the rising heart failure incidences across the globe is anticipated to drive the market growth during the forecast period.

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Moreover, the majority of people have a poor lifestyle that includes eating too much sugar, not exercising enough, leading stressful lives, and consuming processed foods. These factors are the main contributors to obesity, high blood pressure, and the development of chronic cardiovascular illnesses. It was noticed that overweight and obesity are responsible for 7~41% of several cancer burdens, 23% of the heart disease burden, and 44% of the diabetes burden. Additionally, the market is expected to grow over the forecast period as a result of increasing medical R&D, the development of cutting-edge new medical technologies, and rising investment across the globe in the field of research and development. According to research reports, global research and development spending has more than tripled in real terms since 2000, rising from USD 677 billion to USD 2.2 trillion in 2019.

On the basis of geographical analysis, the global carvedilol drug market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Out of these, the market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period owing to the increasing prevalence of hypertension and cardiovascular diseases (CVD) in the region. As per the records, in 2019, CVD was the biggest cause of mortality in the Asia region, accounting for 10.8 million deaths, or almost 35% of all deaths in Asia, and according to the definition of premature death as occurring before the age of 70, about 39% of these CVD deaths were untimely. In addition to this, the increasing research and development and growing healthcare sector in the region are estimated to boost the market growth over the forecast period.

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However, the market in North America region is estimated to gain the largest market share over the forecast period owing to the high prevalence of heart-related diseases, high mortality due to cardiovascular diseases, hypertension, and obesity. As per the Centers for Disease Control and Prevention (CVD), cardiovascular disease claims one life in the United States every 34 seconds. In the United States, heart disease claimed the lives of almost 697,000 people in 2020, accounting for 1 in 5 fatalities. Further, the rising investment in the R&D sector and the presence of key market players in the region are considered to accelerate market growth over the forecast period. In addition to this, the high cost of treating and managing cardiovascular diseases is estimated to propel the market growth over the forecast period. For instance, heart disease cost the United States around USD 229 billion annually during 2017~2018, this covers the price of prescription drugs, healthcare services, and lost income from deaths.  

The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

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The global carvedilol drug market is segmented by application into high blood pressure, congestive heart failure (CHF), ventricular dysfunction, and others. Out of these, the congestive heart failure (CHF) segment is estimated to hold a substantial market share over the forecast period on account of the increasing prevalence of CHF. When the heart’s muscles are unable to pump, CHF results, primarily due to fluid retention in the heart. The most significant risk factor for congestive heart failure is high cholesterol. It was noticed that CHF affects around 64.34 million people globally (8.52 instances per 1,000 people), resulting in 9.91 million years lost to disability (YLDs) and 346.17 billion US dollars in costs. Additionally, the rising prevalence of unhealthy lifestyles, increasing geriatric population, and growing healthcare infrastructure are estimated to propel the segment growth over the forecast period.

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Further, the global carvedilol drug market is segmented by distribution channel into hospital, retail pharmacies, online pharmacies, and others. Out of these, the hospital segment is estimated to hold a noteworthy market share over the forecast period owing to the rising prevalence of CVDs and hypertension across the world. Additionally, people’s strong desire to be treated by highly skilled medical personnel and the existence of a huge patient pool in a hospital facility, which in turn is estimated to increase the overall spending in the healthcare sector. As per the expenditure data reports, global health spending has increased overall during the previous 20 years, doubling in real terms, reaching USD 8.5 trillion in 2019 and 9.8% of GDP (up from 8.5% in 2000). Moreover, the rising awareness among people regarding CVDs, hypertension, and obesity and significant investment in the healthcare sector across the globe are predicted to boost segment growth over the forecast period.

The global carvedilol drug market is also segmented on the basis of product.

Global Carvedilol Drug Market, Segmentation by Product

• Injectable
• Capsule
• Tablet
• Others

Some of the prominent key players and their company profiling mentioned in the global carvedilol drug market research report include Sun Pharmaceutical Industries Limited, Novartis AG, Sanofi-aventis Groupe, Abbott Laboratories, Merck & Co., Inc., Siemens Healthcare GmbH, Amgen Inc., Boehringer Ingelheim International GmbH, Daiichi Sankyo Company, Limited, Pfizer Inc., and other key market players. The profiling enfolds growth opportunities, challenges, and market trends prevalent for the growth of the market during the forecast period.

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