Congestive Heart Failure Drugs Market 2030: How Healthcare Expenditure is Driving Growth
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:
Congestive Heart Failure Drug Outlook (Revenue, USD Million, 2018 - 2030)
- ACE Inhibitors
- Angiotensin 2 Receptor Blockers
- Beta Blockers
- Diuretics
- Aldosterone antagonists
- Inotropes
- Others
Congestive Heart Failure Drugs Product Outlook (Revenue, USD Million, 2018 - 2030)
- Injection
- Capsule
- Tablets
Congestive Heart Failure Drugs Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
- Hospitals
- Retail Pharmacies
- Online Pharmacies
Congestive Heart Failure Drugs Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Mexico
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- South Korea
- Thailand
- Australia
- Latin America
- Brazil
- Argentina
- MEA
- South Africa
- Saudi Arabia
- UAE
- Kuwait
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