Report : South and Central America 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 “South and Central America Diltiazem Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product Type, Application, and Country.” The South and Central America diltiazem market is expected to reach US$ 57.03 million in 2028 from US$ 26.82 million in 2021; it is estimated to grow at a CAGR of 11.4% from 2021 to 2028. The report highlights trends prevailing in the South and Central America diltiazem market and the factors driving market along with those that act as hindrances.
Diltiazem has potential use in a wide variety of cardiovascular disorders. According to the World Health Organization, cardiovascular diseases (CVDs) are the number one cause of death worldwide. CVDs are a major cause of morbidity and affect more people than any other disease. Tobacco consumption, unhealthy diet, and physical inactivity are major lifestyle factors that increase the risk of heart attacks and strokes. In addition, other risk factors that can lead to cardiovascular diseases are high blood pressure, diabetes, and increased cholesterol levels. The calcium channel blockers diltiazem (Cardizem) and verapamil (Calan and Apoptin) effectively control the initial ventricular rate in patients with atrial fibrillation. These agents are given intravenously in bolus doses until the ventricular rate becomes slower.
Furthermore, Diltiazem reduces conduction in the atrioventricular node, which is also useful for heart rate control in patients with atrial fibrillation. Thus, the increasing prevalence of atrial fibrillation across the globe drives the diltiazem market. 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. Also, 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.
The COVID-19 outbreak has stringently affected medical services in South and Central America. The sudden outbreak of COVID-19 led to the implementation of stringent lockdown regulations across several nations, resulting in disruptions in import and export activities of Diltiazem. Also, the countries are famous for medical tourism, which is also influenced by the pandemic. It is anticipated that the region will likely force a second lockdown, which will ultimately hamper the healthcare industry in the area. There have been intensive attempts to explore drug therapy to prevent and treat SARS-CoV-2 infection during this COVID-19 pandemic. Thus, the ongoing clinical studies regarding Diltiazem for treatment in COVID-19 in the region are likely to favor the market's growth moderately.
The South and Central America diltiazem market, based on product is segmented into capsules, injection, and tablets. The South and Central America diltiazem market based on the application was segmented into angina, hypertension, and others. Geographically, the South and Central America diltiazem market can be sub-segmented into Brazil, Argentina and Rest of South and Central America.
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 South and Central America diltiazem market.