Latest Report from visiongain: The Cardiovascular Report - 3rd Annual Edition
According to the latest visiongain report " The Cardiovascular Report - 3rd Annual Edition", Cardiovascular is the leading therapeutic category in the pharmaceutical industry worldwide and with new drugs in the pipeline, competition in the cardiovascular market has never been greater.
PR9.NET November 01, 2004 - San Francisco, CA and London, UK - According to the latest visiongain report " The Cardiovascular Report - 3rd Annual Edition", Cardiovascular is the leading therapeutic category in the pharmaceutical industry worldwide and with new drugs in the pipeline, competition in the cardiovascular market has never been greater.
Cardiovascular has been the leading therapeutic category for over two decades and is set to continue its pace of expansion and dominance over the global drugs market. The cardiovascular market has expanded from a value of $60 billion in 1997 to $351.8 billion in 2003.The size and importance of the market have made it a huge target for pharmaceutical companies. Patient populations in the cardiac disease area are increasing leading to market expansion.
Cardiovascular disease (CVD) is the leading cause of mortality in the western world, accounting for over 40% of total deaths each year and Atherosclerosis accounts for nearly 75 percent of all deaths from cardiovascular disease. Risk factors include raised blood pressure, diabetes, smoking, and lack of exercise, obesity and high levels of lipids (e.g., cholesterol and/or Triglycerides) in the blood. Many lives are lost because of inadequate acute and long-term management of CVD. Relatively cheap interventions for CVD are available such as Aspirin.
The latest addition to the cardiovascular profile is Inspra which was initially approved for the treatment of hypertension but has received a second indication to improve survival of stable patients with left ventricular dysfunction and clinical evidence of congestive heart failure after an acute myocardial infarction. The product works by inhibiting the effects of the hormone aldosterone, including damage to the blood vessels, kidney and the heart.
"Inspra sales are predicted to be $400 million in 2004, between $750million and $760 million in 2005 and $1 billion in 2006. Worldwide sales of cardiovascular drugs is expected to increase to about $76.5 billion in 2005" states Amanda Lopez-Darriba, Pharmaceutical report Analyst.
Analysts predict that product sales could reach $1 billion by 2006. The congestive heart failure market is worth $14 billion and is expected to grow at a compound annual growth rate of 7.3% to more than $22billion in 2008. The congestive heart failure market is growing because the traditional therapies have not been effective in slowing its progression. The cost to the healthcare system for treating congestive heart failure is estimated to be $20- 40 billion annually.
"The cardiovascular market is set to maintain dominance over the worldwide pharmaceutical market. Current R&D pipelines hold 25 blockbuster drugs that will be worth an estimated $40 billion by 2009. Super statins will be the key growth drivers in the blockbusters market", adds Darriba.
The principle aims of cardiovascular therapies are to reduce morbidity and mortality from heart attacks, strokes and other blood vessel related disease. 17 million deaths occur globally each year due to cardiac related problems. Cardiovascular is the largest therapy area in the global healthcare market, the statin market alone has a world market value of $22 billion.
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