The size of the cardiovascular drugs market in the APAC region is estimated to be growing at a CAGR of 7.88% from 2022 to 2027 and worth USD 31.11 billion by 2027 from USD 21.29 billion in 2022.
An increase in the prevalence of cardiovascular diseases and other disorders such as high cholesterol, blood clod, and coronary artery disease are a few of the significant factors driving the market. In addition, the increase in cardiovascular diseases is due to the rise in the adoption of unhealthy lifestyle behaviours such as poor diet, physical inactivity, obesity, smoking, and alcoholism is increasing the risk of causing coronary artery disease, which is due to the development of fatty plaques in arteries that is atherosclerosis, which is further estimated to accelerate the demand for cardiovascular drugs in this region.
As cardiovascular disease is the leading cause of death globally, with Asia accounting for half of the cases, there is an increasing need for these treatments on the market. Other factors such as increasing awareness regarding cardiovascular health, supportive government policies, and rising new product launches by the key market players are expected to accelerate the market growth. Additionally, the increase in new technological advancements for developing innovative treatment procedures for treating cardiovascular diseases and medicines for reducing the risks associated with treatment treatments would drive demand for products in the market.
Furthermore, the rise in the initiatives and investment from government and non-government in research and development activities for developing new and effective drug therapies for cardiovascular illness is expected to provide lucrative growth opportunities to the market growth.
However, the stringent approval processes, as these processes are prolonged and time-consuming with strict government rules and regulations for the product entry, hampers the growth of the cardiovascular drugs market. Also, the increase in the availability of substitute products and treatments available in the market affects the demand for cardiovascular drugs. On the other hand, the high cost of the treatment and medication is predicted to be hindering the market growth.
This research report on the APAC cardiovascular drugs market has been segmented and sub-segmented into the following categories:
By Drug Type:
By Disease Indication:
The Asia- Pacific is one of the fastest-growing regions globally in the cardiovascular drugs market, and it is anticipated to record a significant share in the global market during the forecast period. The regional market growth is attributed to the prevalence of rising chronic diseases, improving healthcare infrastructure, and favourable government policies. In addition, the emerging countries in the region, such as China, India, and Japan, are expanding the APAC regional market growth with a significant market share.
China accounts for the highest cardiovascular deaths among the other countries due to an increase in the adoption of a sedentary lifestyle, physical inactivity resulting in gaining overweight, as every year more than 4 million people die by suffering from cardiovascular disease. Therefore, with the rise in the new advancement in technology for developing innovative treatments and procedures for treating cardiovascular diseases, the market is expected to sign in the coming years.
On the other hand, India is expected to witness lucrative growth in the APAC cardiovascular drugs market during the forecast period. The increase in awareness among the people about the presence of treatment available in the market, the initiatives are taken by the government for developing advanced treatment procedures, and the rising investment in the medical and healthcare infrastructure are propelling the market growth.
KEY MARKET PLAYERS:
Companies playing a promising role in the APAC cardiovascular drugs market profiled in this report are Merck & Co, Sanofi S.A., Pfizer Inc., Bristol-Myers Squibb Company, and Novartis AG.
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