Global Bisoprolol Market Growth 2024, Forecast To 2033
12 Nov, 2024
The bisoprolol market has shown strong growth, projected to grow from $1.84 billion in 2023 to $2 billion in 2024 at a CAGR of 8.6%. Growth is driven by an aging population, rising cardiovascular disease rates, availability of generics, hypertension awareness, and increased healthcare spending. The bisoprolol market is expected to grow strongly, reaching $2.8 billion by 2028, at a CAGR of 8.7%. Growth drivers include cardiovascular specialty clinics, patient support programs, lifestyle-related disease rise, clinical trials, and funding for cardiovascular health. Trends include advancements in drug delivery systems, patient-centric therapies, AI in drug development, and improvements in cardiovascular diagnostics.
Major Driver In The Bisoprolol Market
The increasing prevalence of hypertension is expected to fuel the bisoprolol market. Hypertension, driven by sedentary lifestyles, obesity, and poor diet, is a growing health concern. Bisoprolol, a medication used to manage hypertension, helps reduce blood pressure and improve heart function. In May 2024, the Singapore Heart Foundation reported that hypertensive diseases accounted for 3.7% of deaths in 2022, up from 3.4% in 2021. Consequently, the rising prevalence of hypertension is expected to boost the bisoprolol market.
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Merck & Co. Inc., Abbott Healthcare Pvt Ltd., Novartis AG, Teva Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Intas Pharmaceuticals Limited, Cipla Limited, Hikma Pharmaceuticals, Lupin Limited, Dr. Reddy’s Laboratories Limited, Glenmark Pharmaceuticals Limited, Alkem Laboratories Limited, Ipca Laboratories Limited, Medreich Limited, Alembic Pharmaceuticals Limited, Accord Healthcare Limited, Zydus Lifesciences Limited, Zentiva Group, Taj Pharmaceuticals Limited, Torrent Pharmaceuticals Limited, Suanfarma, Rusan Healthcare Limited, VHB Lifesciences Limited, Synnat Pharmaceuticals, Vidakem Lifesciences Pvt Ltd., Pluviaendo Pharmaceuticals
Key Bisoprolol Market Trend
Leading companies in the bisoprolol market are prioritizing the development of innovative formulations, such as generic combinations, to enhance accessibility, lower costs, and increase their market share. These generic combinations of bisoprolol are effective in managing conditions like high blood pressure, heart failure, and angina by slowing the heart rate and improving blood circulation. For example, in November 2022, Zydus Lifesciences Limited, an India-based pharmaceutical company, received final approval from the U.S. Food and Drug Administration (FDA) for its bisoprolol fumarate and hydrochlorothiazide extended-release tablets. This generic combination is designed to offer effective blood pressure control by combining bisoprolol, a beta-blocker that reduces heart rate and blood pressure, with hydrochlorothiazide, a diuretic that helps manage fluid retention. The extended-release formulation ensures consistent medication levels throughout the day, promoting better patient adherence and long-term hypertension management.
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Global Bisoprolol Market Segmentation
The bisoprolol market covered in this report is segmented –
1) By Type: Tablet, Capsule
2) By Distribution Channels: Hospital Pharmacies, Retail Pharmacies, Other Distribution Channels
3) By Application: High Blood Pressure, Coronary Heart Disease, Angina Pectoris, Other Applications
By Geography:The regions covered in the bisoprolol market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the bisoprolol market in 2023.
The Bisoprolol Global Market Report 2024 furnishes information about the global bisoprolol market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.