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MARKET ANALYSIS
Cardiotonic agents are medicines used to improve contractile power of myocardium which helps in the effective blood circulation. Cardiac insufficiency leads to insufficient blood supply to organs which causes weariness, breathlessness, and edema. Ischemic heart disease and arterial hypertension are the two main causes of cardiac insufficiency and the drugs used for its treatment known as cardiotonic agents. There are several other medications such as glycosides, sympathomimetics, and others used for the treatment of congestive heart failure, cardiac surgical procedures, shock, and other conditions.
GROWTH DRIVERS AND CHALLENGES
New and improved cardiotonic drugs are constantly being developed and launched in the global market. Several innovative medications are being created to focus on particular heart failure mechanisms. The effectiveness of available medications can be enhanced by the creation of new drugs with reduced side effects. The World Health Organisation (WHO) estimates that four out of every five deaths from cardiovascular disorders are attributable to cardiovascular diseases, such as heart attacks and strokes.
The market for cardiotonic agents expected to experience new growth prospects as personalized medical techniques such as genetic testing become more prevalent. Healthcare professionals are inclining towards personalize therapy for patients by locating specific genetic markers linked to heart failure, perhaps improving outcomes. Additionally, various factors such as an aging population, hypertension, myocardial infarction, and heart failure are anticipated to support the cardiotonic agents market growth. According to Heart Society of America, by 2030, more than 6.5 million North Americans is expected to have heart failure, bringing the total to more than 8 million. Furthermore, Heart Society of America also stated that, the overall cost of care for North Americans with heart failure is anticipated to increase from $30.7 billion in 2012 to 69.7 billion in 2030 due to the increasing number of patients.
REPORT SEGMENTATION AND SCOPE
The "Global Cardiotonic agents market Analysis to 2030" is a specialized and in-depth study focusing on the global cardiotonic agents market trends and growth opportunities. The report aims to provide an overview of the global cardiotonic agents market with detailed market segmentation by drug type, testing type, application, dosage form, route of administration, distribution channel, and geography. The global cardiotonic agents market has witnessed high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the uses of cardiotonic agents worldwide and their demand in major regions and countries. In addition, the report provides a qualitative assessment of various factors affecting the cardiotonic agents market performance in major regions and countries. The report also includes a comprehensive analysis of the leading cardiotonic agents market players and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative cardiotonic agents market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter's five forces analysis provide a 360-degree view of the global cardiotonic agents market. This helps understand the entire supply chain and various market growth factors.
SEGMENTAL ANALYSIS
The global cardiotonic agents market size is segmented based on drug type, application, route of administration, dosage form, distribution channel, and geography. The cardiotonic agents market is segmented based on drug type as digitalis glycosides, phosphodiesterase inhibitors, cardioprotectants, sympathomimetic agents, and others. The increasing use of phosphodiesterase inhibitors is anticipated to increase the market for cardiotonic agents. Based on application, the market is classified as cardiac surgical procedures, atrial fibrillation, heart failure, pulmonary hypertension, and others.. Cardiac surgical procedure held the largest market share in 2022 and is anticipated to expand steadily during the forecast period owing to increased demand for cardiac surgeries such as valve replacement, bypass surgeries, and heart transplants.
Furthermore, the route of administration is bifurcated into oral and parenteral. Based on dosage form, the market is classified into tablets, solutions, and others. Based on the distribution channel cardiotonic agents market is categorized into hospital pharmacies, retail pharmacies, and online pharmacies.
REGIONAL FRAMEWORK
REGIONAL ANALYSIS
The North America cardiotonic agent market is expected to dominate the global market owing to high prevalence of cardiovascular diseases, increased healthcare spending, and advanced healthcare infrastructure. The US holds the largest market share in North America cardiotonic agents market because the majority of key players such Novartis, Merck & Co., Amgen, Pfizer, and others are operating in the US. These companies are actively involved in the product development, innovation, and marketing of cardiotonic drugs. For instance, In January 2022, Merck & Co., Inc. announced the phase II clinical trial completion of Vericiguat, which improves cardiac function by activating guanylate cyclase.
Furthermore, Asia Pacific anticipated the highest CAGR in global cardiotonic agents market, owing to the rising prevalence of cardiovascular disorders among geriatric population. Cardiotonic agents' market expansion has been significantly influenced by the medical community owing to the significant increase in awareness of the potential benefits of these drugs. In addition, increasing disposable incomes and a growing prevalence of cardiovascular diseases are likely to create demand for these drugs in Asia Pacific.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnerships, acquisitions, product approvals, product developments, and new product launches were found to be the major strategies adopted by the players operating in the global cardiotonic agents market.
- In February 2022, Roche completed the phase III clinical trials for its furosemide drug. This drug is used in heart failure conditions; it's a loop diuretic that lowers fluid build-up in the body and improves cardiac function.
- In November 2021, Novartis completed the phase III clinical trials for its oral thrombin inhibitor drug, Entresto. This drug is used in heart failure conditions, with preserved ejection fraction. It's a major form of heart failure and is difficult to treat.
- In December 2021, Pfizer Inc. completed the phase III clinical trials for its oral thrombin inhibitor, betrixaben drug. Betrixaben is used to prevent blood clots in acutely ill medical patients.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
The covid-19 pandemic led to a decline in the progress of many industries across the globe. The closure of manufacturing plants and restricted trade across the globe led to supply chain constraints for manufacturers across the globe. The cardiotonic agents market growth experienced sudden decline during the pandemic due to the limited supply of drugs and the decrease in the number of cardiac surgeries globally. This is because of the cancellation of many non-essential surgical procedures across the world. Conversely, the cardiotonic agents market is growing after the significant efforts taken by market stakeholders and healthcare practitioners to manage the disrupted supply chain. The rising demand for cardiotonic agents owing to increasing incidences of heart failure and the rise in the geriatric population prone to cardiovascular conditions are driving the market growth. In 2021, the roll out of COVID-19 vaccines has created the positive outcomes which led to the increased production to fulfil the rising demand from large population. Additionally, the patient recovered from COVID-19 is experiencing the cardiovascular problems which are likely to intensify the demand for cardiotonic agents in the near future.
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COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the cardiotonic agents market include Amneal Pharmaceuticals LLC, Midas Pharma GmbH, Novartis, Pfizer Inc., Merck & Co., Inc., Hikma Pharmaceuticals PLC, Fresenius Kabi, Midas Pharma GmbH, Sanofi, Aurobindo Pharma Limited, and SimSon Pharma Limited among others
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies
1. Amneal Pharmaceuticals LLC
2. Pfizer Inc.
3. Hikma Pharmaceuticals PLC
4. Fresenius Kabi
5. Midas Pharma GmbH
6. Sanofi
7. Aurobindo Pharma Limited
8. SimSon Pharma Limited.
9. Novartis
10. Merck & Co. Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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