Analysis of Potential Impact of COVID-19 on Atherosclerosis Drugs Market

Atherosclerosis Drugs Market – Risk Associated with Cardiovascular Health to Drive Sales

Despite the prevalence of diabetes and cholesterol among a wide patient pool, the atherosclerosis drugs market will move at a sluggish CAGR of 2.5% during the forecast period, finds a recently published report by Transparency Market Research (TMR).

This market growth is attributable to the high consumption of cholesterol-lowering drugs by patients to reduce blockages in arteries. A sedentary, yet, demanding lifestyle instigates consumers to opt for quick dietary choices, which will catalyze revenue streams to the atherosclerosis drugs landscape.

To add to that, government initiatives at a global level have played a crucial role in improving the quality of healthcare services and infrastructure, which has been encouraging pharmaceutical companies to develop effective drugs for the treatment of various diseases. The effectiveness of drugs coupled with their easy availability through streamlined distribution channels has been complementing the sales of atherosclerosis drugs. Analyzing the current and the future growth scope, the TMR study opines that, the atherosclerosis drugs market will register a value tantamount to ~US$ 57.4 Bn by 2027.

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atherosclerosis drugs market infographic

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Popularity of Generic Drugs Poised to Overshadow Atherosclerosis Drugs Market Growth

In March 2019, the U.S. Food and Drug Administration approved a novel generic drug of Diovan to bridge the high demand and low supply gap of this critical drug, on account of multiple recalls of valsartan products manufactured by several brands. After two months, Zydus Cadila announced that it has received approval for Chlorthalidone, a generic version of Thalitone produced by Pfizer.

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These and many companies have scrambled towards the development of generic drugs to offer the near-same benefits of branded drugs at a low cost. The rapid rise in the penetration of generic drugs in parallel to increasing awareness among consumers about the cost benefits of these drugs is likely to curb the growth potential of the atherosclerosis drugs market.

Also, heart strokes and cardiovascular dysfunction are the symptoms associated with atherosclerosis conditions, which could lead to sudden death. On account of the severity of these symptoms, the survival rate is low among patients, which reduces the diagnosis percentage of atherosclerosis.

Distribution Partnerships with Retail Pharmacies Will Remain Beneficial

According to the statistical data of the TMR study, retail pharmacies will grow as the key point-of-sales channel for atherosclerosis drugs, as they are established at even the remotest of locations, thereby making it convenient for consumers to present prescriptions and purchase drugs. In addition, retail pharmacists offer a more consultative role regarding the route of administration and possible side effects of drugs. Retail pharmacies have the presence of several brands, which makes them a suitable purchase point for patients. However, hospital pharmacists operate in a more clinic-oriented manner by having significant contact with doctors and nurses, and they manage their inventories with only specific brands.

By 2027, players in the atherosclerosis drugs market can look at sales through retail pharmacies to a value tantamount to ~US$ 24 Bn.