Inotropic Agents Global Market Report 2023
Major players in the inotropic agents market are Pfizer Inc., GSK PLC., Novartis AG, Mylan N.V., Boehringer Ingelheim International GmbH, AstraZeneca PLC., Johnson & Johnson, Bayer AG, Merck & Co. Inc.
New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Inotropic Agents Global Market Report 2023" - https://www.reportlinker.com/p06486478/?utm_source=GNW
, Bristol-Myers Squibb Company, Cipla Ltd., Eli Lilly And Company, Sanofi S.A., Baxter International Inc., Hikma Pharmaceuticals PLC., Sun Pharmaceuticals Industries Ltd. and Cadila Pharmaceuticals Ltd.
The global inotropic agents market is expected to grow from $2.10 billion in 2022 to $2.32 billion in 2023 at a compound annual growth rate (CAGR) of 10.88%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The inotropic agents market is expected to reach $3.56 billion in 2027 at a CAGR of 11.24%.
The inotropic agent market consists of sales of digoxin, dopamine, dobutamine, levosimendan, and milrinone.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Inotropic agents refer to a class of medications that affect the contractility of the heart muscle.They are used to treat conditions such as heart failure, where the heart is unable to pump enough blood to meet the body’s needs.
Inotropic agents work by increasing the strength and force of the heart’s contractions, which can improve blood flow to the body’s organs and tissues.
North America was the largest region in the inotropic agents market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of drugs in inotropic agents are positive inotropic drugs, negative inotropic drugs, and others.Positive inotropic drugs refer to medications that enhance the contractility or force of contraction of the heart muscle.
It was consumed through different routes of administration, such as oral, parenteral, and others, and it was distributed through hospital pharmacies, retail pharmacies, and others. It was used to treat various indications such as heart attack, heart failure, angina, arrhythmia, and others, and the main end-users are hospitals, homecare, specialty centers, and others.
The surge in the prevalence of cardiovascular diseases is driving the inotropic agent market.Cardiovascular diseases (CVDs) refer to diseases of the vascular system and heart functioning.
Inotropic agents are used in the treatment of cardiovascular diseases to improve the contractility and function of the heart, tackle cardiac shock, and slow the heart rate as they help the heart contract more powerfully, thereby increasing blood flow.So this helps boost the inotropic agent market.
For instance, in October 2022, according to the reports shared by the Centers for Disease Control and Prevention, a US-based government agency, heart diseases were the leading cause of death in the US.About 697,000 people died from heart disease in 2020, which was roughly 1 in every 5 deaths.
About 20.1 million adults were suffering from coronary artery disease. Each year, about 805,000 people in the US suffer from a heart attack. Furthermore, in August 2022, according to the American College of Cardiology, a US-based nonprofit medical association, the risk of stroke was expected to increase by 33.8 percent to 15 million from 2025 to 2060. Therefore, the surge in the prevalence of cardiovascular diseases is propelling the inotropic agent market forward.
Drug approval is a key trend gaining popularity in the inotropic agents market.Major companies in the market are developing innovative new products and drugs to sustain their position in the market.
For instance, in April 2022, Bristol-Myers Squibb., a US-based pharmaceutical developer and manufacturer, received regulatory approval for Camzyos™ (mavacamten) from the U.S. Food and Drug Administration (FDA), a US-based national public health agency and regulator. It is used in the treatment of class II-III obstructive hypertrophic cardiomyopathy (HCM) to improve functional capacity and symptoms. This medication works by inhibiting the excessive contraction of the heart muscle. It is a selective inhibitor of cardiac myosin, a protein involved in muscle contraction. It is typically prescribed to individuals who have symptomatic obstructive HCM and have not adequately responded to other treatment options, such as beta-blockers or calcium channel blockers.
In March 2022, Pfizer Inc., a US-based pharmaceutical and biotechnology corporation, acquired Arena Pharmaceuticals Inc., for $6.7 billion. With this acquisition, Pfizer Inc. aims to improve cardiovascular treatments and capabilities, which will accelerate our mission to deliver our important medicines to patients. Arena Pharmaceuticals, Inc. is a US-based biopharmaceutical company that develops inotropic drugs and cardiovascular drugs.
The countries covered in the inotropic agents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The inotropic agents market research report is one of a series of new reports that provides inotropic agents market statistics, including inotropic agents industry global market size, regional shares, competitors with a inotropic agents market share, detailed inotropic agents market segments, market trends and opportunities, and any further data you may need to thrive in the inotropic agents industry. This inotropic agents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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