Inotropic Agents Global Market Report 2024

The inotropic agents market has grown rapidly in recent years. It will grow from $2.32 billion in 2023 to $2.59 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The expansion witnessed in the historical period can be ascribed to initiatives focused on education and awareness, the broadening of cardiac treatment alternatives, the advancement of safer agents, enhanced patient outcomes, and regulatory approvals.

The inotropic agents market is expected to see rapid growth in the next few years. It will grow to $4.01 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The anticipated growth in the forecast period can be linked to the escalating burden of cardiovascular diseases, progress in drug delivery systems, the adoption of a personalized medicine approach, a rise in research funding, and a heightened demand for combination therapies. Prominent trends expected in the forecast period encompass initiatives for patient education and awareness, a strategic focus on addressing cardiomyopathies, an emphasis on heart failure management, the integration of combination therapies, and advancements in safety profiles.

The inotropic agent market is experiencing a surge in growth, driven by the increasing prevalence of cardiovascular diseases (CVDs). Cardiovascular diseases encompass disorders of the vascular system and heart function. Inotropic agents play a crucial role in treating these conditions by enhancing heart contractility and function, addressing cardiac shock, and reducing heart rate. Their ability to strengthen heart contractions leads to improved blood flow. Notably, in October 2022, the Centers for Disease Control and Prevention reported heart diseases as the leading cause of death in the US, with 697,000 deaths in 2020. This underscores the substantial market demand, as approximately 1 in every 5 deaths resulted from heart disease. Moreover, the American College of Cardiology projected a 33.8 percent increase in stroke risk, reaching 15 million cases from 2025 to 2060, further propelling the inotropic agent market due to the escalating prevalence of cardiovascular diseases.

The growth of the inotropic agents market is also anticipated to be boosted by the rising healthcare expenditure. Healthcare expenditure, denoting the total spending on healthcare services and related activities within a specific system or economy, creates an environment conducive to innovation, research and development, improved diagnostic capabilities, and broader access to advanced cardiac care. A notable example is the UK, where healthcare spending increased by 9.4% in nominal terms and 9.7% in real terms between 2020 and 2021. The total healthcare expenditure in 2021 amounted to $367.25 billion (£280.7 billion), with pharmaceutical expenditure reaching $51.84 billion (£39.6 billion) and preventive care spending more than doubling from 2020 to $45.93 billion (£35.1 billion). Consequently, the upward trajectory of healthcare expenditures is a driving force behind the growth of the inotropic agents market.

A key trend in the inotropic agents market is the emphasis on drug approval. Major companies in the market are actively developing innovative products and drugs to maintain their market positions. For example, in April 2022, Bristol-Myers Squibb secured regulatory approval from the U.S. Food and Drug Administration for Camzyos™ (mavacamten), a medication designed to treat class II-III obstructive hypertrophic cardiomyopathy (HCM). This drug inhibits excessive heart muscle contraction by selectively targeting cardiac myosin, a protein involved in muscle contraction. The approval of such novel drugs contributes to the overall growth and dynamism of the inotropic agents market.

A notable trend in the market is drug patent approval, which serves as a strategy for major companies to sustain their market standing. In October 2022, Windtree Therapeutics, Inc. obtained a patent for istaroxime, a groundbreaking drug candidate with a unique dual mechanism of action for treating heart failure. Istaroxime represents a first-in-class investigational drug with a distinct dual mechanism of action, signifying a potential breakthrough in cardiovascular medicine and offering hope for improved patient outcomes.

In March 2022, Pfizer Inc., a prominent pharmaceutical and biotechnology corporation, completed the acquisition of Arena Pharmaceuticals Inc. for $6.7 billion. This strategic move by Pfizer aims to enhance cardiovascular treatments and capabilities, aligning with the company's mission to deliver important medicines to patients. Arena Pharmaceuticals, Inc., a biopharmaceutical company specializing in inotropic and cardiovascular drugs, adds significant value to Pfizer's portfolio through this acquisition.

Major companies operating in the inotropic agents market report are Pfizer Inc., GSK plc, Novartis AG, Mylan N.V., Boehringer Ingelheim International GmbH, AstraZeneca plc, Johnson & Johnson, Bayer AG, Merck & Co. Inc., Bristol-Myers Squibb Company, Cipla Ltd., Eli Lilly And Company, Sanofi S.A., Baxter International Inc., Hikma Pharmaceuticals plc, Sun Pharmaceuticals Industries Ltd., Cadila Pharmaceuticals Ltd., AbbVie Inc., Allergan plc, Amgen Inc., Daiichi Sankyo Company Limited, Eisai Co. Ltd., Fresenius Kabi AG, Genentech Inc., GlaxoSmithKline plc, Intas Pharmaceuticals Ltd., Lupin Limited, Regeneron Pharmaceuticals Inc., Roche Holding AG, BioNTech SE.

North America was the largest region in the inotropic agents market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global inotropic agents market report during the forecast period. The regions covered in the inotropic agents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the inotropic agents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary classifications within the realm of inotropic agents encompass positive inotropic drugs, negative inotropic drugs, and others. Positive inotropic drugs are medications designed to amplify the contractility or force of contraction in the heart muscle. Administration methods include oral, parenteral, and other routes, with distribution channels spanning hospital pharmacies, retail pharmacies, and others. Their application extends to treating diverse conditions such as heart attack, heart failure, angina, arrhythmia, among others. The primary end-users comprise hospitals, homecare, specialty centers, and others.

The inotropic agents market research report provides inotropic agents market statistics, including inotropic agents industry global market size, regional shares, competitors with a inotropic agents market share, detailed inotropic agents market segments, market trends and opportunities, and any further data you may need to thrive in the inotropic agents industry. This inotropic agents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The inotropic agent market consists of sales of digoxin, dopamine, dobutamine, levosimendan, and milrinone. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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