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

DUBLIN, Nov. 22, 2023 /PRNewswire/ -- The "Beta Blockers Global Market Report 2023" has been added to ResearchAndMarkets.com's offering.

The global beta blockers market is poised for significant expansion, with a projected growth from $8.55 billion in 2022 to $9.16 billion in 2023, representing a remarkable compound annual growth rate (CAGR) of 7.13%. Furthermore, the market is anticipated to reach a substantial value of $11.54 billion by 2027, sustaining a strong CAGR of 5.9%. 

In today's dynamic pharmaceutical landscape, product innovation stands out as a driving force in the beta blockers market. Leading industry players are making strides in introducing groundbreaking products to fortify their market presence. A prime example is Merck, the Germany-based pharmaceutical giant, which obtained U.S. Food and Drug Administration (FDA) approval for VERQUVO (vericiguat) in January 2021. VERQUVO is a medication specifically designed to address heart failure with reduced ejection fraction (HFrEF) in adults. This innovative drug aids in vasodilation, reducing cardiac strain, and enhancing cardiac function.

Merck further solidified its position in the market with the acquisition of Acceleron Pharma Inc. in November 2021. This strategic move provided Merck access to a diverse portfolio of potential therapies, including those targeting cardiovascular diseases and hypertension. Acceleron Pharma Inc., a U.S.-based biopharmaceutical company, leverages the transforming growth factor (TGF)-beta protein superfamily to develop innovative treatments for cardiovascular and other diseases.

The beta blockers market is poised for substantial growth due to the rising incidence of cardiovascular diseases. Beta blockers offer various beneficial effects on the heart and blood vessels, contributing to a reduction in cardiovascular cases. For instance, according to The National Heart, Lung, and Blood Institute, during the period from March to August 2020, a staggering 76,767 individuals succumbed to cardiovascular diseases, which impact the arteries supporting the brain and related systems, with an additional 339,076 deaths attributed to heart disease. This surge in cardiovascular diseases underscores the pivotal role that beta blockers play in curbing these conditions and driving market growth.

The beta blockers market encompasses a wide array of products, including metoprolol, nebivolol, timolol, and labetalol. The comprehensive "Beta Blockers Global Market Report 2023" provides a detailed analysis of market characteristics, size, growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies. Additionally, it tracks the market's historical performance and offers a ten-year forecast, providing invaluable insights for stakeholders in the industry.

Report Scope

Markets Covered:

• By Type: Non-selective Agents; Selective Agents
• By Indication: Angina Pectoris; Heart Failure; High Blood Pressure; Other Indications
• By Drugs: Betaxolol; Acebutolol; Esmolol; Other Drugs
• By Distribution Channel: Hospital Pharmacy; Retail Pharmacy; Online Pharmacy
• By Application: Cardiac Diseases; Hypertension; Glaucoma; Other Applications

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.

Company Profiles:

• 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
• AbbVie

For more information about this report visit https://www.researchandmarkets.com/r/1hfwda

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SOURCE Research and Markets