The global Prinzmetal angina therapeutics market is poised for remarkable growth, with projections indicating a valuation surpassing USD 10.7 billion by 2023 and soaring to an impressive USD 17.2 billion by 2033. This growth trajectory, representing a Compound Annual Growth Rate (CAGR) of 4.85%, is primarily attributed to several key factors driving demand and innovation within the sector.
The surge in demand for Prinzmetal angina therapeutics is fueled by the development of biosimilars and biobetters, coupled with an escalating prevalence of diabetes and hypertension due to unhealthy lifestyles. Furthermore, lifestyle habits such as increased alcohol consumption and smoking contribute significantly to the rise in angina cases, further propelling market expansion.
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However, the downward pricing pressure owing to its commodity nature restrains the market’s growth. The high cost for surgical procedures like coronary bypass surgery is also anticipated to hamper the overall growth of the market. The various technological advances in personalized cardiovascular medicine as well as the enhancement of innovative drug delivery systems are anticipated to generate lucrative opportunities for the market. On the other hand, the increased use of minimally invasive surgeries and shortage of skilled professional have the potential to challenge the market’s growth.
Key Takeaways from the Market Study:
- North America is expected to dominate the market of Prinzmetal Angina therapeutics with a market share of 42% during the forecast period.
- The product demand in South Asia is expected to move ahead with a CAGR of 4%.
- China is anticipated to dominate the Prinzmetal angina drug market in South Asia
- By drug class, Beta Blockers are projected to lead market with highest market share.
- Hospital Pharmacies is estimated to dominate the market with a segment share of 55% during the forecast period.
- US dominated the market in North America with a market share of around 40% in 2022.
- One gene-based therapy, Generx (Ad5FGF-4), and two cell-therapy treatments, CLBS16 and CLBS14 anticipated to launch in the US will bolster the market during the forecast period.
“Advancements in medical therapeutics, extensive use of beta blockers and adoption of innovative drug delivery systems will bolster market growth,” comments an FMI analyst.
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Competitive Landscape:
Key players in the Prinzmetal Angina Market are:
- Sanofi S.A.
- Gilead Sciences Inc.
- AstraZeneca Plc
- Pfizer Inc.
- Eli Lilly and Company
- Amgen Inc.
- GlaxoSmithKline Plc
- Tasly Pharmaceuticals Inc.
- Novartis AG
- XyloCor Therapeutics
Some recent developments in this industry are:
- In March 2022, Zydus Lifesciences received approval from the United States Food and Drug Administration (FDA) to market its Nitroglycerin Sublingual Tablets in the strengths of 0.3 mg, 0.4mg, and 0.6mg (US RLD: Nitrostat Sublingual Tablets) for angina.
- In October 2021, BioCardia, Inc. announced the treatment of the patient in their CardiAMP Cell Therapy Chronic Myocardial Ischemia Trial for patients with refractory angina.
Key Segments Profiled in the Prinzmetal Angina Therapeutics Market Survey:
By Drug Class:
- Beta Blockers
- Calcium Antagonists
- Anti-coagulants
- Anti-Platelets
- Anti-Anginal
- ACE Inhibitors
- Nitrates
By Disease Type:
- Stable or Chronic Angina
- Unstable Angina
- Variant and Microvascular Angina
By Distribution Channel:
- Online Pharmacies
- Retail Pharmacies
- Hospital Pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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