Cardiovascular diseases pertain to the blood vessel and heart conditions that can affect the heart valve, cardiac muscle with the circulation system that monitors the blood flow and distribution and the cardiac electrical system which controls the heart rhythm and rate. These complex systems are taken care of by the cardiovascular therapy device market owing to the increasing number of global population being affected by the above mentioned diseases. The cardiovascular therapy market is expected to grow in the forecast period owing to introduction of improved technologies and devices that provide solutions for Cardio vascular diseases.
Growth in the global
cardiovascular therapy market is attributed to factors owing to increasing
worldwide prevalence of chronic CVDs and a higher percentage of aging
population. Improvements in treatment capabilities in developing markets owing
to technological advancements and innovation is expected to have a positive
impact on the demand for cardiovascular thereupatic devices in the medical and
healthcare sector. Technological advent with respect to therapeutic devices
includes development of extended product life, smaller devices, and surgical
improvements. Increase in demand is also driven by increased risk factors
(diabetes, smoking, obesity, and hypertension) among people
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Key application of in
cardiovascular therapy is the hybrid operation rooms market that emphasizes on
minimal invasive surgeries. Therefore, Global cardiovascular therapy market is
expected to witness a growth owing to increasing demand for minimally invasive
surgeries. However, high costs for treatment and safety concerns are major
challenges before the market.
Cardiovascular therapy comprises of Anti-hypertensives, anticoagulants,
anti-arrhythmic, Antithrombotics and Antidyslipidemics. Global cardiovascular
market had a sale of $170bn in 2010 and is expected to have a positive growth
in the forecast period. With a share of 40% of the total market, the US
continued to be the market leader in this segment. Although there has been a
decline in the sales of cardiovascular therapy market due to saturation of key
drug categories and an increased generic presence, the US witnessed a steady
growth in the market since 2009 and is expected to continue the same trend.
Antihypertensives remained
the largest drug class in the past few years with global sales of over $37.6bn
and an overall market share of over 22%. Angiotensin receptor blockers (ARBs)
is expected to remain the most prescribed therapeutic class within
antihypertensives driven by key brands such as Cozaar, Diovan, and Avapro.
Novartis’s Diovan is the market leader with $3.6bn in sales and the second
largest being Benicar with sales of $2.9bn.
The anticoagulants segment is expected to witness significant activity
over the forecast period owing to introduction of new drugs such as BoehringerPradaxa/Rendix,
Ingelheim's, Bayer-Schering/J&J's, BMS/Pfizer's apixaban, Xarelto and Eli
Lilly/Daiichi's Effient which are subjected to intensive R&D activities.
Since most of the factor Xa inhibitors are in oral form, they are expected to
cater to a wider market.
Crestor is expected to
witness a steady growth in the market owing to positive trial results that has
the capability to strengthen its market position. The positive trial data is
likely to result in higher number of recommendations for cholesterol treatment
and capture more number of patients with cardiovascular disorders
GlaxoSmithKline's (GSK) is expected to have the highest growth among leading
players owing to the acquisition of Reliant Pharma. Addition of new drugs such
as Lovaza in GSKs portfolio is a key factor that can drive the growth in this
segment In 2010, Antithrombotics
recorded a sale of over $18.7bn and a market share of over 11%. Antithrombitics
are forecasted to witness a strong growth in the next seven years owing to increase
in the commercialization of recently approved products such as Xarelto, Pradaxa
and launch of Pfizer/BMS’s apixabanBetter bleeding profile and superior
effectiveness of Brilinta (ticagrelor) over Plavix make it major antithrombotic
drug that could be a key player in acute coronary syndrome (ACS).
A large segment of
atherosclerosis patients who do not respond to Plavix can be administered by
Brilinta which has a potential therapeutic advantage in atherosclerosis
Moreover, its use could be initially confined to acute coronary syndrome (ACS)
with no patient monitoring anticipated for postmarketing surveillanceor
respiratory or cardiac function requirements. The anti-arrhythmic market is
expected to remain a small opportunity as this drug therapy has substantial
limitations. New therapeutic standards and benchmarks are expected to be set by
Multaq from Sanofi-Aventis owing to its first-line treatment of chronic atrial
fibrillation.
Future technologies that
are expected to have a positive impact on the market are third generation VADs
in cardiac surgery that have the property to easily be implanted,
Interventional cardiology that employs innovative therapies such as stem cell
therapies and bioabsorbable stents, electrophysiology that focuses on
developing implants that does not use lead and advanced endovascular therapy.
Key regional segments include Europe, North America, Asia Pacific, Latin
Americaand MEAIn 2014, Asia Pacific held the majority of share in global
cardiovascular therapy market. Key factors contributing to its large share
include prevalence of the target diseases such as hernia and congenital heart
diseases. North America is expected to be the fastest growing regions over the
forecast period. Health awareness among consumers and presence of improved
healthcare infrastructure and pertaining to the availability of new products is
expected to increase the use of cardiovascular over the forecast period.
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