Cardiovascular Drugs Market Assessment 2020-2030 - COVID-19 Has Negatively Affected Short-Term Revenues, Dropping to $85.4 Billion in 2020 at a CAGR of -7.8%

News provided by

Jun 05, 2020, 07:30 ET

DUBLIN, June 5, 2020 /PRNewswire/ -- The "Cardiovascular Drugs Global Market Report 2020-30: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider cardiovascular drugs market, and compares it with other markets.

The global cardiovascular drugs market is expected to decline from $92.5 billion in 2019 to $85.4 billion in 2020 at a compound annual growth rate (CAGR) of -7.8%. The decline is mainly because of the lockdown measures due to the COVID-19 outbreak.

The decrease in the number of cardiac surgeries due to re-scheduling of surgeries, cancellations and no-show by patients, decrease in consultations due to restrictions by government and health authorities to provide only emergency services, and less heart disease admissions contribute to this decline. However, the decline is not significant as research showed that the COVID patients developed cardiovascular complications, and therefore health authorities advised COVID and non-COVID cardiac patients to continue the use of CVD drugs. The market is then expected to recover and grow at a CAGR of 3% from 2021 and reach $106.1 billion in 2023.

Asia-Pacific was the largest region in the global cardiovascular drugs market, accounting for 39% of the market in 2019. North America was the second largest region accounting for 27% of the global cardiovascular drugs market. Africa was the smallest region in the global cardiovascular drugs market.

NOACs are gaining wider acceptance and are replacing traditionally used anti-coagulants such as Warfarin and Heparin. Anti-coagulants have long been used in prevention of thrombus formation in patients suffering with cardiovascular diseases. Use of NOACs makes it easier for patients to continue therapy post discharge as opposed to injections of Heparin and Warfarin which need medical assistance for administration xxviii. Some of the NOACs include Pradaxa (dabigatran etexilate) from Boehringer Ingelheim, Xarelto (rivaroxaban) from Janssen, and Eliquis (apixaban) from Bristol-Myers Squibb.

Report Scope

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
Market segmentations break down market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
The cardiovascular drugs market section of the report gives context. It compares the cardiovascular drugs market with other segments of the pharmaceutical drugs market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, cardiovascular drugs indicators comparison.

Companies Mentioned

Merck & Co.
Sanofi S.A.
Pfizer Inc.
Bristol-Myers Squibb Company
Novartis AG

For more information about this report visit https://www.researchandmarkets.com/r/foldsb

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets