Carvedilol Drug Market size is poised to witness lucrative growth rate during the forecast period i.e., between 2024-2036. The growth of the market can be attributed to the increasing prevalence of cardiac diseases that result in heart failure, along with the growing cases of hypertension across the globe. Poor lifestyle is prevalent amongst the masses, including high sugar intake, lack of exercise, stressful lifestyle, and consumption of processed food, which is the primary cause of high blood pressure and cardiovascular diseases. According to the statistics by the World Health Organization (WHO), cardiovascular diseases killed 17.9 million people in 2019, which represents 32% of all deaths globally. Along with this, hypertension is another serious disease, which is known to affect over 1.28 billion adults aged 30-79 years worldwide. Carvedilol is only given to clinically stable patients in case of heart failure, as it is a non-selective adrenergic blocker, which cannot be given as a prescription medication. Moreover, the growing incidences of heart failure is also expected to drive the market growth. In addition to this, the carvedilol drug market growth is projected to increase on the back of increasing medical R&D, along with the emergence of new and advanced medical technologies.
Growth Drivers
Challenges
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2023 |
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2024–2036 |
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The market is segmented by application into high blood pressure, congestive heart failure (CHF), ventricular dysfunction, and others, out of which, the congestive heart failure (CHF) segment is anticipated to hold a substantial share in the global carvedilol drug market over the forecast period on account of increasing prevalence of CHF. CHF is caused when muscles in the heart are unable to pump, mostly due to fluid build-up in the heart. High levels of cholesterol is the most prominent contributing factor for congestive heart failure.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Application |
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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. The market in the Asia Pacific industry is likely to account for largest revenue share by 2036, driven by rising prevalence of hypertension in low and middle income countries. As per a WHO report, two-third of the total hypertension cases occur in low- and middle-income countries.
The carvedilol drug market in the North America region is anticipated to gain the largest revenue share throughout the forecast period owing to the high prevalence of heart failure and high blood pressure, along with the presence of efficient healthcare infrastructure in the region. According to the data by the Center for Disease Control and Prevention (CDC), heart failure was the cause for 379,800 deaths in 2018. Moreover, 116 million adults have hypertension in the United States.
June 02, 2021: Sun Pharmaceutical Industries Limited entered a collaborative agreement with Ferring Pharmaceuticals Pvt. Ltd. (Ferring), a Switzerland-based biopharmaceuticals MNC, to commercialize a room temperature stable formulation of obstetric drug, CARITEC (Carbetocin RTS) in India.
April 28, 2021: Merck Sharp & Dohme Corp. announced the complete acquisition of Pandion Therapeutics. After this acquisition, Pandion Therapeutics became a wholly-owned subsidiary of Merck Sharp & Dohme Corp.
Author Credits: Radhika Pawar
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