Rise in the geriatric population, surge in healthcare expenditure, and rise in prevalence of hypertension across the globe drive the growth of the global market
PORTLAND, OREGON, UNITED STATES, September 16, 2021 /EINPresswire.com/ — Increase in geriatric population worldwide, rise in healthcare expenditure worldwide, and surge in prevalence of hypertension across the globe have augmented the growth of the global antihypertensive drugs market. Whereas, patent expirations of blockbuster drugs impede the market growth. On the other hand, high growth potential in developing economies is projected to provide lucrative opportunities in the near future.
According to the report, the global antihypertensive drugs industry was pegged at $22.56 billion in 2018 and is projected to reach $28.79 billion by 2026, registering a CAGR of 3.1% from 2019 to 2026.
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Driving factors for the market
Rise in the geriatric population, surge in healthcare expenditure, and rise in prevalence of hypertension across the globe drive the growth of the global antihypertensive drugs market. However, patent expirations of blockbuster drugs hamper the market growth. On the contrary, high growth potential in developing countries is expected to create lucrative opportunities in the near future.
The demand for antihypertensive drugs is on a rise, owing to surge in incidence of hypertension. Furthermore, rise in awareness related to treatment of hypertension across the globe is another factor that fuels the growth of the market.
Based on distribution channel, the market is categorized into retail pharmacy, hospital pharmacy, and e-commerce. The e-commerce websites and online drug stores segment is expected to register the fastest CAGR of 4.2% through 2026. On the other hand, the hospital pharmacy segment accounted for the highest share in 2018, contributing to more than half of the global antihypertensive drugs market.
The hospital pharmacy segment held the largest share
The hospital pharmacy segment dominated the market in 2018, accounting for more than half of the global antihypertensive drugs market, owing to increase in the number of hospitalized NASH patients, surge in number of hospital pharmacies, improvement in structure of hospital pharmacies in the emerging countries such as China and India. However, the e-commerce websites & online drug stores segment is projected to register the fastest CAGR of 4.2% during the study period, due to surge in preference for online purchasing of drugs over the traditional methods, rise in the number of Internet users, and increase in awareness of online pharmacy.
North America dominated the market
The global antihypertensive drugs market across North America held the largest share in 2018, accounting for more than one-third of the market, owing to the availability of the antihypertensive drugs and rise in prevalence of hypertension due to surge in geriatric population in the region. However, the market across the Asia-Pacific region is anticipated to portray the fastest CAGR of 4.2% during the forecast period, owing to surge in awareness related to use of antihypertensive drugs and the presence of active key players in the region.
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Major market players
Boehringer Ingelheim GmbH
Johnson and Johnson
Takeda Pharmaceutical Co., Ltd.
Daiichi Sankyo Company
Novartis International AG
Key Findings of the Study:
Calcium channel blockers occupied one-fourths share of the global antihypertensive drugs market in 2018.
The ACE inhibitors segment is anticipated to grow with the highest CAGR throughout the forecast period.
The vasodilators accounted for more than one-fifths share of the market in 2018.
Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.
Antihypertensive Drugs Market Research Report 2026 @ https://www.alliedmarketresearch.com/antihypertensives-market
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Source: EIN Presswire