Convenience and large inventory remain key points of attraction for consumers, which makes hospital pharmacies the primary distribution channel in the global atherosclerosis drugs market. However, growing dependence of individuals on retail pharmacies, on the back of easy accessibility, could negatively impact sales generation through hospital pharmacies. According to a recent study, retail pharmacies are projected to witness a CAGR of 2.9% during 2020-2027.
Key Highlights of Atherosclerosis Drugs Market Study
- A shift from the development of branded drugs to generic drugs, undertaken to deliver effective results at relatively low costs, is showing high relevance in the atherosclerosis drugs market. However, the cost of this transformation could lower the expansion probabilities for the atherosclerosis drugs market during the forecast period.
- Nanotechnology is paving way for advancement of the atherosclerosis drugs market, on the back of their competency to prevent plague formation without damaging healthy tissues. One of the leading medications developed using nanotechnology—E-selectin-targeting polymer—is found to exhibit ideal characteristics for the treatment of atherosclerosis, which is anticipated to witness high adoption during the forecast period.
- China is likely to register the highest CAGR of around 3% during the forecast period, on account of the ongoing transformation in its healthcare infrastructure and drug development policies, which ensures offering quality drugs at affordable prices. High population density and growing cases of cardiovascular and heart disorders are strengthening opportunities for market players on the demand-side of the atherosclerosis drugs market.
- Growing base of hospitals in parallel with high awareness among individuals regarding cardiovascular disorders is driving the highest sales of atherosclerosis drugs market through hospital pharmacies in North America. Innovative product development approach taken by leading players is inducing advancement to the North America atherosclerosis drugs market, which is projected to account for 34% of the global market share by 2027.
Application of atherosclerosis drugs for lowering cholesterol is growing, which is widening avenues for cholesterol-lowering medications. The trend is likely to remain more pronounced in developed countries, on the back of unhealthy food habits adopted by individuals and the rising rate of obesity. Targeting sales through online pharmacies would create high sales prospects for atherosclerosis drugs–A subject matter expert
Leading Players Relying on Collaborations for Product Innovation
Strengthening of product portfolio to target revenue through multiple revenue streams remains a key growth strategy of leading players in the atherosclerosis market. Though product development is an organic growth tactic, leading players are increasingly focusing on inorganic growth through collaborations to gain the reciprocal advantage of knowledge, exposure, and expansion of product portfolio. For instance, in August 2019, Bayer AG and Sensyne Health PLC joined forces to improve products for the treatment of cardiovascular disorders. Players operating in other tiers of the atherosclerosis drugs market seek growth by introducing generic versions of branded drugs, which poses a challenge for leading players.