Business

Heart failure market to be valued at $53 bn by 2032 across 7MM: GlobalData forecast

• By Newsdesk
• London
• Oct 17, 2023

Business

GlobalData predicts that the heart failure (HF) market will experience a 5.2% compound annual growth rate (CAGR) from $31.9 billion in 2022 to $53 billion in 2032 in the seven major markets (the US, France, Germany, Italy, Spain, the UK, and Japan). This growth is attributed to the approval of various treatment approaches and an increasing number of newly diagnosed HF patients.

Kajal Jaddoo, a Senior Pharma Analyst at GlobalData, emphasized the rising demand for pharmaceutical companies to enhance their therapeutic innovations and address unmet needs within the HF market. These companies are focusing on strategies to enhance treatment safety and compliance while developing new drug classes. Notably, angiotensin-converting enzyme inhibitors and angiotensin II receptor blockers have maintained consistent use, and sodium-glucose transporter 2 inhibitors have gained prominence in HF treatment.

GlobalData anticipates that the introduction of promising pipeline drugs such as Tirzepatide, omecamtiv mecarbil, Neucardin, and Kerendia (finerenone) during the 2022-2032 forecast period will expand the market and foster growth.

Jaddoo further noted that new entrants in the HF market can gain market share more easily if they offer a unique mechanism of action or contribute to improving treatment compliance. Nevertheless, key opinion leaders, as interviewed by GlobalData, hold varying perspectives on introducing additional drugs alongside complex treatment regimens for HF patients.

To summarise, GlobalData's survey of cardiologists suggests that the HF pipeline shows promise, but any new therapy must demonstrate significant efficacy improvements to become a replacement for or an addition to existing treatments.