Wilmington, Delaware, United States, March 08, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – As per a TMR study, the Inotropic Agents Market was valued at US$ 1.9 Bn in 2022 and is anticipated to grow at a CAGR of 11.4% during the forecast period from 2023 to 2031.
The rise in the patient population suffering from heart failure worldwide has increased the focus on medication to help manage the condition. The use of inotropic drugs has helped in the efficient treatment of heart failure.
Inotropic agents help change the ionic concentration of heart muscles, thereby affecting the flow of calcium ions into the body. Few end-users that use inotropic agents are hospitals, specialty centers, and home care. Inotropic agents are available in hospital pharmacies, retail pharmacies, and online pharmacies.
The launch of new drugs is helping companies to generate revenue and gain an edge over other players. Additionally, companies are signing collaborative agreements with other players to expand their presence and increase revenue shares. Prominent manufacturers are likely to expand production capabilities to meet consumer needs.
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Key Findings of Market Study
- Increase in Demand for Positive Inotropic Agents: In terms of type, the global market has been bifurcated into positive inotropic agents and negative inotropic agents. The positive inotropic agent segment is anticipated to account for the dominant share in the next few years. Positive inotropic agents have proven beneficial in improving the strength of heart contractions, which makes them suitable to treat patients suffering from heart failure.
- Rise in Need to Manage Heart Failure and Cardiogenic Shock: Based on indication, the global market has been classified into a heart attack, angina, heart failure & cardiogenic shock, arrhythmia, and others. The heart failure & cardiogenic shock segment is anticipated to account for the dominant market share in the near future. Heart failure and cardiogenic shock medical condition is characterized by the incapability of the heart to pump the required amount of blood. An increase in demand for inotropic agents to improve the contractility of heart muscles and improve blood flow, thereby managing the medical condition efficiently, is likely to propel the market in the near future.
- A surge in Demand for Parental Route of Administration: In terms of route of administration, the market has been segmented into oral, parental, and others. The parental route of administration is estimated to account for the dominant market share during the forecast period. It permits for direct and rapid delivery of drugs to the heart. This route has emerged as the most suitable option, especially in emergencies, such as cardiogenic shock, when quick treatment is essential. During emergencies, the parental route of administration can assist in the restoration of blood flow to the critical organs of the human body and also help improve the heart's capability to increase blood flow.
Inotropic Agents Market - Key Drivers
- An increase in the incidence of heart failure globally is likely to drive the global inotropic agents market
- The surge in government initiatives and measures promoting the awareness of heart failure are fueling the demand for inotropic agents
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Inotropic Agents Market - Regional Insights
- North America is likely to account for the dominant global market share during the forecast period. The rise in the prevalence of heart failure & other heart conditions, surge in the geriatric population, and the presence of a large number of pharmaceutical firms in countries, such as the U.S. and Canada, are likely to drive market development in the region. Additionally, the presence of developed healthcare infrastructure is likely to help fuel the demand for inotropic agents.
- The market in Asia Pacific is estimated to witness significant growth in the next few years due to a surge in expenditure in the healthcare industry and a rise in the adoption of advanced healthcare technologies in countries, such as India and China. Leading players are likely to establish research and development centers and inotropic agent manufacturing units in countries such as India due to the ease of availability of resources such as land and labor.
Inotropic Agents Market - Key Players
The global market is competitive, with the presence of several international and local players. The entry of new players is likely to intensify competition in the next few years.
Companies are making significant investments in R&D to manufacture improved inotropic agents that meet consumer requirements. A rise in demand for improved products is likely to help industry growth in the next few years.
Key players operating in the market are
- AstraZeneca,
- Johnson and Johnson,
- Pfizer Inc., and GlaxoSmithKline plc.
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The global market is segmented as follows:
Type
- Positive Inotropic Agents
- Negative Inotropic Agents
Indication
- Heart Attack
- Angina
- Heart Failure and Cardiogenic Shock
- Arrhythmia
- Others
Route of Administration
- Oral
- Parental
- Others
Region
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
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