Report : Europe Diltiazem Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Capsules, Injection, and Tablets) and Application (Angina, Hypertension, and Others)
The capsules segment by product type is estimated to lead the market growth during the forecast period.
According to a new market research study of “Europe Diltiazem Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product Type, Application, and Country.” The Europe diltiazem market is expected to reach US$ 207.38 million by 2028 from US$ 95.08 million in 2021; it is estimated to grow at a CAGR of 11.8% from 2021 to 2028. The report highlights trends prevailing in the Europe diltiazem market and the factors driving market along with those that act as hindrances.
Heart diseases are primarily observed in older adults due to their weak immunity and other major health problems. According to the Global Ageing 2019 survey, the world's population of 65 and above totaled 703 million in 2019. The elderly demographic is expected to double to 1.5 billion people by 2050. This demographic is more susceptible to Cardiovascular dieseses (CVDs) such as arrhythmias. The elderly population is more prompt to have atypical presentations, comorbid conditions, and unfavorable outcomes. Structural and functional changes in the cardiovascular system associated with aging are major causes of cardiovascular diseases. Therefore, the rising geriatric population worldwide is leading to an increase in the incidence of cardiovascular disease, bolstering the growth of the diltiazem market. Also, the diltiazem market is characterized by the presence of various small and big companies. The market players adopt new product launches, regional expansions, and product approvals to increase their market share. The players are investing in R&D to develop advanced technologies and gain significant revenue share in Europe. For instance, in March 2021, Glenmark Pharmaceuticals was granted competitive generic therapy (CGT) designation for Diltiazem Hydrochloride Extended-Release Capsules USP, 60 mg, 90 mg, and 120 mg; therefore, it is eligible for 180 days of CGT exclusivity upon commercial marketing. Thus, such recent developments are expected to act as a future trend in the diltiazem market.
The European market is severely hit due to the exponential increase of COVID-19 cases in the region. The rising rate of COVID-19 is resulting in increased stress on the region's healthcare system, increasing the need for diagnostic tests in its healthcare system, encouraging the expansion of the sector in this region. Hypertension has been recorded in various cases and retrospective groups as a possible risk factor for the frequency and severity of COVID-19. Since the SARS-CoV-2's high infectivity rates, a possible interaction between COVID-19 and hypertension is worrisome. Diltiazem may be helpful to treat hypertension associated with COVID-19. Overall, diltiazem plays dual effects on hypertension-linked COVID-19 treatment by lowering high blood pressure and restraining NF-kb signaling pathway-related inflammation. The region witnessed some shortfall at the beginning of the COVID-19 crisis due to disruption in supply chain and demand due to lockdown announced by most European countries. Market players and end users lost their business due to the temporarily shutting down of industries in various regions. However, the diltiazem market witnessed growth during the pandemic as it is anticipated to inhibit viral growth and related hypertension.
The Europe diltiazem market, based on product is segmented into capsules, injection, and tablets. The Europe diltiazem market based on the application was segmented into angina, hypertension, and others. Geographically, the Europe diltiazem market can be sub-segmented into Italy, Germany, France, Spain, UK, and Rest of Europe.
Bausch Health Companies Inc., Teva Pharmaceutical Industries Ltd, MYLAN N.V., Pfizer Inc., Sandoz (Novartis AG), Sun Pharmaceutical Industries Ltd, Hikma Pharmaceuticals PLC, Zydus Cadila and Glenmark are among the leading companies operating in the Europe diltiazem market.