2024 Angiotensin Receptor Blockers ARBs Market Analysis: Market Size, Key Drivers, and Segment Insights
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What Will Be the Growth Trajectory of the Angiotensin Receptor Blockers ARBs Market from 2024 to 2033?
The market size for angiotensin receptor blockers (arbs) has seen consistent growth in recent years. There is an anticipated rise from $8.26 billion in 2023 to $8.62 billion in 2024, given a compound annual growth rate (CAGR) of 4.3%. The past growth can be credited to factors such as the surge in hypertension cases, proven clinical efficacy, cardiovascular disease populace, renal safeguards, clinical guidelines, the primary use of arbs in treatment, and their cost-effectiveness.
The market for angiotensin receptor blockers (arbs) is anticipated to witness consistent growth over the coming years, expanding to a worth of $10.28 billion by 2028. This represents a compound annual growth rate (CAGR) of 4.5%. This growth trajectory in the forecast period is the result of precision medical methodologies, emphasis on combination treatments, the global proliferation of the market, deployment of biomarker-based therapies, governmental initiatives, and heightened hypertension awareness. Major trends to look out for in the forecast duration include the adoption of telemedicine, significant investments in research and development, the presence of generic competition and patent expirations, the utilization of digital health solutions to adhere to medication regimens, and the competition from biosimilars.
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What Are the Primary Growth Drivers for the angiotensin receptor blockers arbs Market?
The anticipated rise in cardiovascular disease cases is set to fuel the expansion of the angiotensin receptor blockers market. Cardiovascular disease (CVD) includes any disorder impacting the heart or blood vessels. These conditions are often linked to the formation of fatty deposits within arteries (atherosclerosis) and the heightened possibility of blood clots. Angiotensin receptor blockers reduce blood pressure and enhance the heart’s ability to pump blood by aiding vein and artery relaxation, thus, lowering the risk of cardiovascular disease. For example, the American College of Cardiology, a professional medical organization in the US, stated in August 2022 that the predicted frequency of cardiovascular risk factors and disease is set to significantly increase in the US by 2060. Hence, the escalating prevalence of cardiovascular diseases is propelling the expansion of the angiotensin receptor blockers market.
What Are the Defining Segments of the Angiotensin Receptor Blockers ARBs Market?
1) By Product: Valsartan, Telmisartan, Losartan, Irbesartan, Azilsartan, Olmesartan
2) By Application: Hypertension, Cardiovascular Diseases, Kidney Diseases, Other Applications
3) By End User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers
What Trends Are Revolutionizing Standards in the Angiotensin Receptor Blockers ARBs Market?
Gaining popularity in the angiotensin receptor blockers market is largely due to product innovation, a key trend. Major players in the market like Novartis AG, a pharmaceutical company based in Switzerland, are concentrating on creating innovative solutions to consolidate their market position. For instance, in February 2021, they launched Entresto (sacubitril/valsartan), which has been approved by the United States Food and Drug Administration for an expanded indication. This approval is to cut down the risk of cardiovascular death and hospitalization cases for chronic heart failure in adult patients. The clinical advantages are more pronounced in patients having a LVEF which is lower than normal. Entresto becomes the first and exclusive therapy approved in the U.S. for treating patients having heart failure as per defined guidelines. This includes patients with reduced ejection fraction (HFrEF) heart failure and several patients with preserved ejection fraction (HFpEF) heart failure.
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What Regions Are Propelling Growth in the Angiotensin Receptor Blockers ARBs Industry?
North America was the largest region in the angiotensin receptor blockers (ARBs) market share in 2023. The regions covered in the angiotensin receptor blockers (arbs) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Angiotensin Receptor Blockers ARBs Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the angiotensin receptor blockers arbs market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Angiotensin Receptor Blockers ARBs Market Include
1. Angiotensin Receptor Blockers ARBs Market Executive Summary
2. Angiotensin Receptor Blockers ARBs Market Segments
3. Angiotensin Receptor Blockers ARBs Market Size And Template Market Growth Rate
4. Key Angiotensin Receptor Blockers ARBs Market Trends
5. Major Angiotensin Receptor Blockers ARBs Market Drivers
……
25. Key Mergers And Acquisitions In The Angiotensin Receptor Blockers ARBs Market
26. Top Angiotensin Receptor Blockers ARBs Companies
27. Angiotensin Receptor Blockers ARBs Market Opportunities And Strategies
28. Angiotensin Receptor Blockers ARBs Market, Conclusions And Recommendations
29. Appendix
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