Number of pages: 100 | Report Format: PDF | Published date: December 15, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
According to the deep-dive market assessment study by Growth Plus Reports, the global heart failure market was valued at US$ 7.20 billion in 2021 and is expected to register a revenue CAGR of 2.90% to reach US$ 9.31 billion by 2030.
Heart failure is a chronic condition in which the heart doesn’t pump adequately as it should. The common symptoms include fatigue, shortness of breath, swollen legs and rapid or irregular heartbeat. The various causes of heart failure are coronary artery disease, high blood pressure, faulty heart valves, damage to the heart muscles, inflammation of heart muscle (myocarditis), congenital heart defect, abnormal heart rhythms (arrhythmias), and long-term diseases such as diabetes, thyroid, and several viral infections.
The rising prevalence of heart failure due to an unhealthy lifestyle in the growing population is one of the major factors driving the revenue growth of the heart failure market. An increase in the geriatric population with a higher risk of cardiovascular diseases and various other chronic diseases such as diabetes increases the risk of organ failure contribute to the revenue growth of the heart failure market. Technological advancements in the treatment of heart failure and the rise in research and drug development for the treatment support revenue growth of the heart failure market.
However, the high cost of available treatment for heart failure and various risk factors associated with the treatment drugs and devices are expected to restrain the revenue growth of the heart failure market to some extent.
The global heart failure market is analyzed from three perspectives i.e., type, therapeutic drugs, and region
Heart failure Market by Type
Based on type, the global heart failure market is segmented into acute heart failure and chronic heart failure.
The acute heart failure segment accounts for a major share of the global heart failure market.
Chronic heart failure is the most common type of heart failure. The prevalence of chronic heart failure is higher than that of acute heart failure, and around 80% of those who experience acute heart failure already have chronic heart failure whose symptoms deteriorate quickly.
Heart failure Market by Therapeutic Drugs
Based on therapeutic drugs, the global heart failure market is segmented into, cardiac glycosides, sympathomimetic agents, phosphodiesterase III inhibitors, diuretics, aldosterone antagonists, vasodilators, beta–blockers, and others.
Beta-blockers drugs are the most used medication for heart failure. It works by slowing down the heart rate and thus reducing blood pressure. Thus, the beta-blocker segment accounts for most of the global heart failure market share.
Heart failure Market by Region
Based on region, the global heart failure market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America and Europe are expected to hold a dominant share of the global Heart Failure Therapeutics market due to the high prevalence and rising incidence of heart failure, a large number of pharmaceutical companies, high level of awareness, well-established healthcare facilities, and favorable medical reimbursement policies in these regions. Additionally, the growing aging populations in the United States, the United Kingdom, Germany, and France—populations that are more susceptible to get heart failure—would certainly account for a sizeable share of the global market by the end of 2029.
The prominent players operating in the global heart failure market are: -
The global heart failure market is expected to register a CAGR of 2.9% to reach US$ 9.31 billion by 2030.
Boehringer Ingelheim International GmbH, Tenax Therapeutics, Novartis AG, Amgen Inc. are among the key players operating in the global heart failure market.
The beta-blockers segment dominates the global heart failure market with the largest revenue share.
The Asia Pacific region is expected to register the highest revenue growth during the forecast period.
*Insights on financial permanence are subject to the availability of information in the public domain