UAE Heart Failure Treatment Drugs Market, by Drug Class (ACE Inhibitors, Angiotensin 2 Receptor Blockers, Beta Blockers, Diuretics, Aldosterone Antagonists, Inotropes, and Others), and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) is estimated to be valued at US$ 80.4 Million in 2023 and is expected to exhibit a CAGR of 6.5% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The strategies adopted by key market players like acquisitions is expected to drive the UAE heart failure treatment drugs market growth over the forecast period. For instance, on March 14, 2022, Pfizer, Inc., a U.S.-based multinational pharmaceutical and biotechnology corporation, completed the US$ 6.70 billion acquisition of Arena Pharmaceuticals Ltd, a U.S.-based biopharmaceutical company, finalizing a deal that involves multiple cardiovascular properties. This collaboration will help Arena Pharmaceuticals Ltd to accelerate its mission to deliver important medicines to patients by using the capabilities of Pfizer, Inc. This will help Pfizer, Inc. to become a science and innovation-driven biopharmaceutical company.
UAE Heart Failure Treatment Drugs Market - Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems regarding the transportation of drugs from one place to another.
COVID-19 had a negative impact on the UAE heart failure treatment drugs market due to reduced patient visits to hospitals. For instance, according to an article published by the International Journal of Cardiology on September 15, 2022, during the COVID-19 pandemic, reductions in Heart Failure (HF) hospitalizations have been widely reported. The main reasons behind this were reallocation of HF staff to care for patients with COVID-19, disruption of multidisciplinary team, cancellation/postponement of elective procedures, and delays in establishing virtual consultations/telemedicine.
UAE Heart Failure Treatment Drugs Market: Key Developments
Increasing launch of new range of products that can improve the efficacy of heart failure treatment are expected to drive the market growth.
For instance, on February 24, 2022, Boehringer Ingelheim International GmbH, a Germany-based pharmaceutical company, announced the launch of Jardiance (empagliflozin) to reduce the risk of cardiovascular death and hospitalization for heart failure in adults. Jardiance’s safety and effectiveness were evaluated as an adjunct to standard of care therapy in a randomized, double-blind, international trial comparing 2,997 participants who received Jardiance, 10 mg, once daily to 2,991 participants who received the placebo. Of the individuals who received Jardiance for an average of about two years, 14% died from cardiovascular causes or were hospitalized for heart failure, compared to 17% of the participants who received the placebo. This benefit was mostly attributable to fewer patients being hospitalized for heart failure.
Browse 24 Market Data Tables and 15 Figures spread through 150 Pages and in-depth TOC on UAE Heart Failure Treatment Drugs Market, by Drug Class (ACE Inhibitors, Angiotensin 2 Receptor Blockers, Beta Blockers, Diuretics, Aldosterone Antagonists, Inotropes, and Others), and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/uae-heart-failure-drugs-treatment-market-4172
Key Takeaways of the UAE Heart Failure Treatment Drugs Market:
- The UAE heart failure treatment drugs market is expected to exhibit a CAGR of 6.5% during the forecast period. Funding raised by key market players is expected to accelerate its research and development activities. For instance, according to data published by Journal of Cardiac Failure on October 24, 2020, a study was conducted to study BAY1753011 in patients with congestive heart failure (AVANTI). The study was sponsored by Bayer AG, a Germany-based multinational pharmaceutical company. AVANTI is a double-blind, randomized phase II study in 571 patients hospitalized with acute heart failure and signs of persistent congestion before discharge. In part A, patients will receive either pecavaptan 30 mg/d or placebo with standard of care for 30 days. In part B, eligible patients will continue treatment or receive pecavaptan or diuretics as monotherapy for another 30 days. It was concluded that the use of a dual antagonist may, therefore, offer benefits even in combination with the use of loop diuretics. Hence, balanced V1a/V2 antagonist may safely enhance decongestion, both as an adjunct to loop diuretics and as an alternative strategy.
- Among distribution channel, the hospital pharmacies segment is expected to dominate the UAE heart failure treatment drugs market over the forecast period, owing to the launch of new hospital pharmacies. On June 1, 2023, Aster Pharmacy, India-based retail pharmacy groups in the Middle East, and Spinneys, a Dubai-based Arabian multinational supermarket chain, launched a joint venture called Zest Pharmacy. It further plans to expand the network to more than 25 stores within the next two years in the U.A.E. With the launch of the new pharmacy called Zest, Aster Pharmacy aims to meet the needs of its high-end customers for various products in the health and wellness segment. Aster pharmacy aim to redefine the health and wellness landscape of country by combining expertise with the premium retailer of the region, the Spinneys Group. It will operate with the new brand and value-added products. The pharmacy will provide a wide range of high-quality and certified products across categories like skincare, nutrition, cosmetics, mother and child care, and home-use medical equipment among others.
- The major players operating in the UAE heart failure treatment drugs market include Novartis International AG, AstraZeneca Plc., Amgen, Inc., Pfizer, Inc., Mylan N.V., Merck & Co., Inc., Bristol-Myers Squibb, GlaxoSmithKline Plc., Teva Pharmaceutical Industries Ltd., and Bayer AG
