Cardiometabolic Drugs Market Trends

Growth Drivers

• Growing Cases of Non-Communicable Diseases Across the World – With increasing urbanization, the number of non-communicable diseases across the world is increasing. For fast treatment process for these diseases and to enhance patient experience with reduced pain is expected to increase the demand for cardiometabolic drugs during the forecast period. Recent statistics revealed by the World Health Organization (WHO) stated that non-communicable diseases kill 41 million people each year which is equivalent to 74% of all deaths around the world.
• Escalation in Prevalence of Cardiovascular Diseases – In the recent period, the prevalence of cardiovascular diseases such as coronary heart diseases, strokes, peripheral arterial diseases, and aortic diseases among the global population has surged. As a result, medical professionals have utilized cardiometabolic drugs for faster treatment processes. This trend is anticipated to bring lucrative growth opportunities for market growth in the next few years. As per the latest reports, cardiovascular diseases take almost 17 million lives every year across the globe.
• The Surge in Lifestyle Disorders Including Cancer and Diabetes – For instance, recent statistics revealed that cancer is responsible for approximately 9 million deaths, chronic respiratory diseases for around 4 million deaths, and diabetes for about 2 million deaths every year worldwide.
• Rising Approval of Medicines – The exponential growth in novel drug development and manufacturing process coupled with the rise in approval of medicines is anticipated to ease the commercialization process of cardiometabolic drugs in the next few years. For instance, in 2021, the Center for Drug Evaluation and Research (CDER) approved about 50 novel drugs to be sold out for consumption.
• Upsurge in Research and Development Expenditure – Along with the rapid technological advancement, significant expenditure has been made in research and development activities to develop and manufacture high-quality, effective, and novel cardiometabolic drugs for treatment processes. Hence, creating a positive outlook for market expansion during the forecast period. According to the World Bank, global expenditure on research and development was calculated to be 2.63% of GDP in 2020 up from 2.2% in 2018.

Challenges

• Rising Risks of Side Effects on the Human Body – Antidiabetics, anticoagulants, hypertension, dyslipidemia drugs, and other cardiometabolic drugs usually have side effects such as dyspepsia, vomiting, nausea, prolonged nosebleeds, passing of blood in urine, and others. Thus, the rising risks of these side effects are projected to slow down the adoption rate of cardiometabolic drugs in the long run which is subsequently expected to hamper the growth of the global cardiometabolic drugs market.
• Frequent Changes in Guidelines and Security Policies
• Increased Costs of Medicines