Nifedipine Medication Market Estimated To Witness High Growth Owing To Increasing Cases Of Hypertension

Nifedipine Medication Market Estimated To Witness High Growth Owing To Increasing Cases Of Hypertension

Market Overview:
Nifedipine medication is a calcium channel blocker commonly used to treat hypertension and chest pain caused by angina. It works by relaxing blood vessels and increasing the supply of blood and oxygen to the heart. The main types of nifedipine medication available are immediate release and extended release capsules. It is commonly prescribed to patients suffering from cardiovascular diseases as well as muscle spasms.

Market Dynamics:
Growing geriatric population and increasing prevalence of hypertension globally are expected to be the key drivers propelling the growth of the Nifedipine Medication Market Share over the forecast period. According to World Health Organization (WHO), the number of people aged 65 years or over is projected to grow from an estimated 524 million in 2010 to approximately 1.5 billion in 2050, with most of the increase in developing countries. Moreover, the International Society of Hypertension (ISH) reported that over 1.28 billion people suffer from hypertension worldwide. Higher blood pressure is a major risk factor for heart disease and stroke which has led to surge in demand for effective antihypertensive drugs like nifedipine medication. Additionally, technological advancements in immediate and extended release drug delivery technologies are further expected to fuel the revenue growth of the market.

SWOT Analysis

Strength: Nifedipine medication is an effective treatment for hypertension and angina. It is easily available in generic forms which are affordable for patients. The medication has well established pharmaceutical properties and effectiveness.

Weakness: Long term use of nifedipine medication can cause side effects like headache, edema and dizziness in some patients. The bioavailability of nifedipine is affected by food intake which can reduce its therapeutic effectiveness.

Opportunity: Rising geriatric population worldwide who are at high risk of cardiovascular diseases will drive the demand for nifedipine medication. Growing prevalence of hypertension in developing nations provides new market avenues.

Threats: Price wars between generic manufacturers puts pricing pressure on established brands. Patent expiry of major brands allows entry of biosimilars.

Key Takeaways

The global Nifedipine Medication market is expected to witness high growth, exhibiting CAGR of 8.5% over the forecast period, due to increasing prevalence of hypertension worldwide. According to the World Health Organization, by 2025, approximately 1.56 billion people are projected to have hypertension.

Regional analysis North America dominates the global nifedipine medication market owing to growing incidence of cardiovascular diseases and developed healthcare infrastructure. Europe also captures a significant market share due to increasing focus on management of chronic conditions. However, Asia Pacific is expected to grow at the fastest pace during the forecast period, with double digit CAGR. Rapidly developing healthcare sector and rising healthcare awareness among the population provide immense growth opportunities in the region.

Key players operating in the Nifedipine Medication market are Pfizer Inc., Novartis AG, Merck & Co., Inc., AstraZeneca PLC, Teva Pharmaceutical Industries Ltd., Mylan N.V., Sanofi S.A., Johnson & Johnson, GlaxoSmithKline plc, Lupin Limited, Sun Pharmaceutical Industries Ltd., Sandoz International GmbH (a Novartis division), Dr. Reddy's Laboratories Ltd., Torrent Pharmaceuticals Ltd., Apotex Inc. Manufacturers are focusing on developing new formulations and fixed-dose combinations to consolidate their market presence.

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https://www.marketwebjournal.com/nifedipine-medication-market-overview/