Coronary Artery Disease Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Coronary Artery Disease Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Coronary Artery Disease Therapeutics Market is expected to register a CAGR of 5.5% during the forecast period.

The COVID-19 pandemic affected healthcare systems globally and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients with cardiovascular diseases to significant risks. However, the demand for coronary artery disease drugs was significantly impacted during the pandemic owing to the increased risk of infection among patients with cardiovascular diseases. As per study published in the Frontiers in Family Medicine and Primary Care in December 2021, titled "The Impact of the COVID-19 Pandemic on Avoidance of Health Care, Symptom Severity, and Mental Well-Being in Patients With Coronary Artery Disease" indicated that despite having Coronary artery Disease (CAD) symptoms, 9.1% of patients did not see a medical practitioner due to fear of becoming infected with COVID-19. The findings of the study show that the majority of patients in Germany received adequate medical care during the COVID-19 pandemic for CAD. As a result of the adequate availability of CAD treatments during COVID-19, market growth was favorably influenced.

The market is primarily driven by the growing geriatric population, associated increase in incidences of chronic disease, and increasing investment in research and development of coronary artery disease therapeutics. The geriatric population is expected to have a significant impact on the market studied as people aged above 65 are more prone to chronic diseases. According to the World Health Organization Facts of 2021, the proportion of the global population aged 60 and up will nearly double from 12% to 22% between 2015 and 2050. By 2050, 80% of the world's elderly will live in low- and middle-income countries. The population is aging at a much faster rate than in the past. According to the Centers for Disease Control and Prevention (CDC) data updated in July 2022, shows that coronary heart disease is the most common type of heart disease, and approximately 20.1 million adults of age 20 and older have the disease in the United States. Additionally, as per the CDC data every 40 seconds, someone suffers from a heart attack and nearly 805,000 people in the United States have a heart attack every year. Thus, the growing burden of coronary artery disease is expected to increase the demand for its management thereby contributing to the growth of the market.

Growing incidence and prevalence rate of hypertension, high cholesterol, diabetes, and obesity across the world, government initiatives to increase awareness of the disease, and increasing investment in research and development activity are the key driving factors in the coronary artery disease therapeutics market. However, the high cost of treatment and reimbursement issues may restrain the market growth over the forecast period.

Key Market TrendsStatins Segment is Expected to Hold a Major Market Share in the Coronary Artery Disease Therapeutics Market

Statin medications are drugs that help to lower cholesterol levels in the blood and prevent coronary heart disease. Statins are the first-line treatment of choice for patients with coronary heart disease and high cholesterol levels. Statins have additional benefits such as improvements in endothelial function, reduction in the amount of inflammation and damage done to cells through oxidation stress, and prevention of platelet aggregation, thereby reducing the risk of a blood clot (thrombus).

The statins segment holds a significant market share in the coronary artery disease therapeutics market and is anticipated to show a similar trend over the forecast period due to its ability to reduce mortality and cardiovascular events in patients with coronary artery disease or at high risk of cardiovascular disease. According to the study published in the Journal of Cardiothoracic Imaging in April 2022, titled "Aspirin and Statin Therapy for Nonobstructive Coronary Artery Disease: Five-year Outcomes from the CONFIRM Registry” baseline statin medication was related to a reduction in major cardiovascular events in people with nonobstructive coronary artery disease (CAD). Statins act by lowering levels of low-density lipoprotein cholesterol, reducing the substrate for plaque formation, but they can also stabilize plaques by favorably changing the plaque pathophysiology; the pathophysiology change is due to decreased inflammation, improved endothelial function, and increased calcification, which increases structural integrity and reduces the risk of plaque rupture. Thus, the above benefits of statins therapy in the CAD is expected to increase demand for statins thereby boosting segment growth.

Moreover, product launches by the market players are likely to boost market growth. For instance, in May 2022, Sun Pharma a Mumbai-based drug maker launched the first in-class statin drug Bempedoic Acid in India under the brand name Brillo. As a result, such advancements are expected to fuel market expansion over the forecast period.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America is expected to hold a major market share in the global coronary artery disease therapeutics market due to the growing geriatric population, and increasing incidences of chronic diseases. According to the Centers for Disease Control and Prevention (CDC), COVID-19 patients with an underlying heart condition are still more likely to become severely ill. Additionally, according to the American College of Cardiology (ACC), on March 6, 2020, people who have an underlying cardiovascular disease have a higher mortality rate when it comes to COVID-19 (10.5%) than people who have an underlying chronic respiratory disease (6.3%). Furthermore, high healthcare spending and the presence of well-established healthcare infrastructure are also fueling the growth of the overall regional market to a large extent. As per the Centers for Medicare & Medicaid Services, National health spending is projected to grow at an average annual rate of 5.4% for 2019-28 and to reach USD 6.2 trillion by 2028. As national health expenditures are projected to grow 1.1 percentage points faster than gross domestic product per year on average over 2019–28, the health share of the economy is projected to rise from 17.7% in 2018 to 19.7% in 2028.

Moreover, continuous product approval in the segment is expected to drive segment growth. For instance, in August 2021, Health Canada approved MYINFLA 0.5 mg for the reduction of cardiovascular risk in patients with coronary disease. In addition, in February 2022, The Food and Drug Administration approved Norliqva (amlodipine) oral solution for the treatment of hypertension in adults and children 6 years and older, to lower blood pressure and coronary artery disease. Thus, such advances in the region are anticipated to drive market growth over the forecast period.

Thus, the market is expected to witness a high growth rate over the forecast period due to the factors mentioned above in the North American region.

Competitive Landscape

The Coronary Artery Disease Therapeutics Market is fragmented competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are AstraZeneca Plc, Gilead Sciences, Inc, Novartis AG, Pfizer Inc, Bayer AG, Bristol-Myers Squibb Company, GlaxoSmithKline Plc, Merck & Co., Inc, Teva Pharmaceutical Industries Ltd and Mylan N.V.

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