Renub Research has recently published a report titled “Coronary Artery Disease Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis” providing a detailed industry analysis that includes market share insights. In addition, the report covers research on competitors and regions and current advancements in the coronary artery disease market. The coronary artery disease market shall experience a CAGR of nearly 8.90% from 2022 to 2028. According to the 2023 National Center for Biotechnology Information (NCBI) report, coronary artery disease is accountable for 17.8 million fatalities annually, making it the third most significant cause of death globally. The collection of plaque inside the coronary arteries, leading to coronary artery disease (CAD), can be due to multiple factors such as an unhealthy diet high in fats, smoking, lack of physical activity, hypertension, diabetes, obesity, genetic predisposition, and the natural aging process.
The expected growth of the coronary artery disease market can be due to the aging global population being more susceptible to developing CAD, leading to a higher demand for diagnosis and treatment. Additionally, an increasing prevalence of risk factors like hypertension, diabetes, obesity, and physical inactivity contributes to the rise in CAD incidence. As a result, the demand for drugs, medical devices, and procedures to manage and treat CAD shall increase.
Furthermore, the coronary artery disease market is expected to expand due to advancements in medical device technology, including improved stents, drug-eluting balloons, and advanced imaging techniques, leading to more efficient diagnosis and treatment of CAD. Additionally, the development of innovative therapies and drugs targeting CAD risk factors and underlying causes fuels the growth of the coronary artery disease market. The combined effect of all these factors shall result in a substantial future expansion of the coronary artery disease market.
Anticoagulant Drugs are growing in demand in the coronary artery disease Market
The important reason for the rise in the anticoagulant drugs segment in the coronary artery disease market is their ability to prevent blood clots that can result in heart attacks, strokes, and other cardiovascular events. In addition, the rise in CAD risk factors, such as hypertension and diabetes, coupled with an aging population, is expected to boost the demand for anticoagulant therapy. Furthermore, the growth in this coronary artery disease market segment is also due to advancements in medical technology, which have led to the development of newer anticoagulants with enhanced efficacy, safety, and patient convenience.
Retail and Online pharmacies are gaining fame in the coronary artery disease market.
Coronary Artery Disease risk factors, an aging population, and the need for medications to treat these conditions are driving growth in retail pharmacies of the coronary artery disease market. These pharmacies are expanding services to include medication therapy management, technology-driven patient care, and CAD education and counseling, ultimately contributing to their growth in the coronary artery disease market.
Online pharmacies offer CAD patients convenient access to medications and medical supplies from their homes, especially for those with mobility issues or in remote areas. They often provide lower medication prices and access to a broader range of products, including specialty medications. In addition, they may offer medication reminders, online consultations, and home delivery services, improving medication adherence and patient outcomes.
The US has leadership in the coronary artery market market.
The US’s dominance in the coronary artery market market is due to several factors, including the high prevalence of CAD risk factors such as hypertension, diabetes, and obesity, a well-established healthcare infrastructure, advanced medical technologies, and trained healthcare professionals, enabling prompt diagnosis and treatment of CAD. In addition, the intense research and development ecosystem has led to innovative drugs, medical devices, and treatment procedures.
Additionally, the large patient population with CAD makes the US an attractive pharmaceutical and medical device company market. However, CAD is the main reason for mortality in the US. The National Centre of Biotechnology Information (NCBI) report of 2023 states that coronary artery disease is responsible for approximately 610,000 deaths annually, accounting for an estimated 1 in 4 deaths in the United States, making it the leading cause of mortality.
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AstraZeneca Plc., Novartis AG, Pfizer Inc, Bristol-Myers Squibb Company, Merck & Co. Inc, Viatris, Sanofi, and Amgen are prominent in the coronary artery disease market.
The high prevalence of CAD and related risk factors creates a large patient population needing treatments, leading to a significant market opportunity for pharmaceutical and medical device companies and driving competition among them to develop innovative products. Regulatory changes and healthcare policies can also create new market opportunities. Increasing awareness about CAD risk factors and treatments can influence demand and treatment decisions, contributing to competition in the coronary artery disease market.
- Drug type– The Report covers the coronary artery disease Market by drug types from 5 viewpoints (antiplatelets, beta-blockers, calcium antagonists, anticoagulants, and others).
- Distribution channel– The coronary artery disease Market, by distribution channel, break up into 3 viewpoints (hospital pharmacies, retail pharmacies, and online pharmacies).
- Countries–By countries, the coronary artery disease (CAD)Market is broken up into 8 viewpoints (U.S., France, Germany, China, United Kingdom, Japan, Saudi Arabia, and Russia).
- Key Players– All the major players in the coronary artery disease (CAD)Market have been covered from 3 Viewpoints (Overview, Recent Developments, and Sales Analysis) AstraZeneca Plc., Novartis AG, Pfizer Inc, Bristol-Myers Squibb Company, Merck & Co. Inc, Viatris, Sanofi, and Amgen.
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