Cardio-selective Beta Blockers Market to Hit USD 10.1 Bn by 2031 | Transparency Market Research

WILMINGTON, DE / ACCESSWIRE / March 27, 2023 / Transparency Market Research Inc. - The cardio-selective beta blockers market size stood at USD 6.2 Bn in 2022, and is projected to reach USD 10.1 Bn by 2031 with CAGR of 5.7%.

High usage of blood pressure-lowering and anti-arrhythmic medications to manage cardiovascular disease (CVD) in the patient population is anticipated to drive the cardio-selective beta blockers industry. Rapidly aging population in several countries is likely to present significant opportunities for companies.

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Market Snapshot:

Significant advancements have been made in the mechanism of action of selective beta-1 blockers, which has made them preferable over non-selective agents to treat hypertension, arrhythmias, and heart failure. Introduction of cardio-selective beta blockers with new routes of administration have led to medications with a lower risk of strokes, congestive heart failure, and coronary artery disease.

Rise in adoption of these medications to manage CVD is likely to bolster the cardio-selective beta blockers industry growth. Launch of cardio-selective beta-1-blockers with extended-release formulations has broadened the cardio-selective beta blockers market outlook in the past few years. Drug manufactures strive to develop medications with reduced adverse effects and benefits for heart failure patients.

Key Findings of Study

• Extensive Demand for Metoprolol to Manage CVD: Treatment of cardiovascular disease with metoprolol presents significant revenue opportunities for companies in the market. The cardio-selective beta blockers market report indicates that the metoprolol segment accounted for dominant market share in 2022 in terms of drugs. Significant safety and efficacy profiles, ease of administration, and affordability are key factors responsible for the high utilization of this class of drugs to treat heart failure and hypertension. Surge in demand for metoprolol in the past few years is likely to propel the market in the near future.
• R&D in Drug Delivery Technologies to Enhance Safety & Effectiveness of Cardio-selective Beta Blockers: Continuous R&D in the mechanism of action of beta blockers has enabled companies to develop drugs with a unique pharmacologic profile. This is likely to bolster off-label uses of beta-blockers and offer new business opportunities to drug manufacturers in the near future. Additionally, companies strive to develop beta blockers with improved routes of administration in order to reduce their common side effects and enhance the targeted nature of these drugs in the treatment of angina, arrhythmias, and chronic heart failure.

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Key Drivers

• High prevalence and incidence of one or more forms of cardiovascular disease (CVD) is a key factor anticipated to propel the market growth. Surge in incidence of coronary artery disease, heart failure, stroke, hypertension, and atrial & ventricular arrhythmias is expected to boost the market.
• Rise in geriatric population over the past few years has also elevated the risk of CVD. Old age is associated with cardiac risk factors and adverse cardiac events in both men and women. This factor is likely to accelerate the cardio-selective beta blockers development.

Regional Growth Dynamics

North America accounted for leading share of the global cardio-selective beta blockers market in 2022. High global burden of cardiovascular diseases, especially coronary artery disease, strokes, hypertension, and heart failure, is likely to propel the product demand. Revenue growth of the market in North America is also fueled by the presence of several globally prominent pharmaceutical companies, notably in the U.S., which focus on unveiling medications that reduce the prevalence of CVD and its complications in the patient population.

The cardio-selective beta blockers market in Asia Pacific is anticipated to account for significant share from 2023 to 2031. Untapped demand for selective beta-1 antagonist agents in heart disease conditions and growing awareness about the effectiveness of this class of medications to manage cardiovascular disease are expected to propel revenue growth. Surge in usage of selective beta-1 antagonist agents in medications recommended to treat hypertension and heart failure is one of the key market trends likely to augment the cardio-selective beta blockers market size in the region.

Competition Landscape

The cardio-selective beta blockers industry is highly competitive, with leading players adopting strategies of mergers & acquisitions, product innovations, and collaborations to consolidate their market positions. Prominent companies are also submitting New Drug Applications (NDAs) to the U.S. FDA in order to develop new products with better safety and efficacy profiles.

Key players operating in the global cardio-selective beta blockers market are AbbVie, Inc., AstraZeneca, Pfizer, Inc., Recordati S.p.A., Sanofi, Novartis AG, Viatris Inc., Teva Pharmaceutical Industries Ltd., Bayer AG, GSK plc, and Merck & Co., Inc.

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Cardio-selective Beta Blockers Market Segmentation

Drug

• Atenolol
• Metoprolol
• Bisoprolol
• Nebivolol
• Others

Indication

• Angina
• Hypertension
• Heart Failure
• Arrhythmias
• Others

Route of Administration

• Oral
• Parenteral
• Ophthalmic

Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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