UK Cardiovascular therapeutics market size stood at around USD XX.X billion in 2019 and will be growing, exhibiting a CAGR of 6.4% during the forecast period from 2019 to 2028.
Cardiovascular therapeutic drugs refer to the prescribed medicines and drugs for the diseases which are related to the functioning and treatment of heart and blood vessels. While cardiovascular diseases remain to be the leading cause of dead, the major reason causing cardiovascular problems include heart failure, blood clots, coronary artery disease, high cholesterol, and others.
UK has the highest number of CVD, Congenital heart disease (CHD), stroke, heart failure, atrial fibrillation and other heart related disease that further contributing to the growth of the market. According to one of the reports published by the British Heart Foundation in 2017, more than one-fourth of the fatalities in UK are due to CVD, which is responsible for around 1.6 million fatalities each year. The above data reflects the mortalities recorded in England, Wales, Scotland, and Northern Ireland. A total of 56,493 mortalities were recorded in England followed by 7,182 in Scotland. Similarly, Wales and Northern Ireland reported 4,082 and 1,825 deaths, respectively. These numbers of mortalities and incidence of heart related diseases increase the demand for cardiovascular devices, drugs and surgeries that further propels the market growth.
Market Driving and Restraining Factors
The market is driven by a host of factors which includes rise in aging population, rise in per capita spending on healthcare and epidemic of general medical issues like obesity and diabetes. With cardiovascular disorders being the most common cause for morbidity and mortality, the market has a tremendous value and continue to do so in the coming years.
There are a few restraints for the market growth which includes rising costs for drug development and lowering of target population. And, despite of high prevalence, drug develop pipelines for cardiovascular disorders has been stagnant for a variety of reasons.