Heart failure market to be valued at $53 bn by 2032 across 7MM: GlobalData forecast
London: With pipeline approvals of varying mechanisms of action and an influx of newly diagnosed patients, the heart failure (HF) market is expected to grow at a compound annual growth rate (CAGR) of 5.2 per cent from $31.9 billion in 2022 to $53 billion in 2032 across the seven major markets: The US, France, Germany, Italy, Spain, the UK, and Japan (7MM), forecasts GlobalData.
Kajal Jaddoo, Senior Pharma Analyst, GlobalData, commented, “The pressure for pharmaceutical companies to be more innovative with their therapies and tackle unmet needs is increasing. Companies are approaching the HF market with the strategies of optimising treatment safety and compliance, as well as developing novel drug classes. The use of angiotensin-converting enzyme inhibitors and angiotensin II receptor blockers has remained relatively consistent, and the use of sodium-glucose transporter 2 inhibitors has become well established for HF.”
Over the forecast period of 2022-32, GlobalData expects the launch of promising pipeline drugs Tirzepatide, omecamtiv mecarbil, Neucardin, and Kerendia (finerenone) to increase the market size and further promote growth.
Jaddoo concluded, “It will be easier for new drug entrants to capture HF market share if they offer a novel mechanism of action or help to improve compliance. The key opinion leaders interviewed by GlobalData hold mixed views on adding another drug on top of their patients’ complex treatment regimens.
Overall, cardiologists surveyed by GlobalData have indicated that the pipeline for HF is somewhat promising, but a significant improvement in efficacy would have to be demonstrated by any therapy for it to become either a replacement or add-on to the existing therapies.”
Source – ETHealth World
