Global Beta Blockers Market Set for Robust Growth with a CAGR of 5.19% and Market Value of $11.54 Billion by 2027

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Global Beta Blockers Market Set for Robust Growth with a CAGR of 5.19% and Market Value of $11.54 Billion by 2027

The global beta blockers market is positioned for substantial growth, with a projected compound annual growth rate (CAGR) of 5.19% and an estimated market value of $11.54 billion by 2027, according to a report by Research and Markets. The market is expected to expand significantly from $8.55 billion in 2022 to $9.16 billion in 2023, representing an impressive CAGR of 7.13%.

A key driver of this growth is product innovation, with major industry players like Merck making notable strides. Merck, a prominent Germany-based pharmaceutical company, received U.S. Food and Drug Administration (FDA) approval for VERQUVO (vericiguat) in January 2021. This innovative medication is designed to address heart failure with reduced ejection fraction (HFrEF) in adults, offering benefits such as vasodilation, reduction of cardiac strain, and enhancement of cardiac function.

Merck further strengthened its market position by acquiring Acceleron Pharma Inc. in November 2021. This strategic move granted Merck access to a diverse portfolio of potential therapies, particularly those targeting cardiovascular diseases and hypertension. Acceleron Pharma Inc., a U.S.-based biopharmaceutical company, focuses on utilizing the transforming growth factor (TGF)-beta protein superfamily to develop innovative treatments for cardiovascular and other diseases.

The rising incidence of cardiovascular diseases is another significant factor contributing to the expected growth of the beta blockers market. With beta blockers offering various beneficial effects on the heart and blood vessels, they play a crucial role in reducing cardiovascular cases. Statistics from The National Heart, Lung, and Blood Institute reveal a substantial number of deaths attributed to cardiovascular diseases, emphasizing the pivotal role beta blockers play in curbing these conditions and driving market growth.

The beta blockers market encompasses a diverse range of products, including metoprolol, nebivolol, timolol, and labetalol. The market report provides a comprehensive analysis of market characteristics, size, growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies. It covers historical performance and offers a ten-year forecast, providing valuable insights for stakeholders in the industry.

The report’s scope includes coverage of different types of beta blockers (non-selective agents, selective agents), indications (angina pectoris, heart failure, high blood pressure, and other indications), drugs (betaxolol, acebutolol, esmolol, and other drugs), distribution channels (hospital pharmacy, retail pharmacy, online pharmacy), and applications (cardiac diseases, hypertension, glaucoma, and other applications). Countries covered include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, while regions include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The time series data spans five years of historic data and provides a ten-year forecast. The report also includes data on market size and growth ratios, GDP proportions, expenditure per capita, and segmentations of country and regional historic and forecast data, market share of competitors, and market segments.

The comprehensive list of company profiles includes major players in the beta blockers market, such as Pfizer, Novartis, Merck & Co., AstraZeneca, Johnson and Johnson, Eli Lilly and Company, Sanofi, Bristol-Myers Squibb, Bayer, GlaxoSmithKline, Teva Pharmaceutical Industries, Sun Pharmaceutical Industries, Amneal Pharmaceuticals, Abbott Laboratories, Eagle Pharmaceuticals, Neon Healthcare, Midas Pharma, Global Calcium PVT, and AbbVie.

In summary, the beta blockers market is poised for robust growth, fueled by product innovation, strategic acquisitions, and the increasing prevalence of cardiovascular diseases. The comprehensive market report provides a detailed analysis and forecast, offering valuable insights for industry stakeholders and decision-makers.