NEW YORK, Jan. 19, 2022 /PRNewswire/ -- The Prils market is set to grow by USD 784.14 million between 2021 and 2026, accelerating at a CAGR of 5.43% as per the latest report by Technavio. The market is segmented by application (hypertension, heart failure, and chronic kidney disorders) and geography (North America, Europe, Asia, and ROW). The report provides detailed insights into how vendors are performing in terms of revenue generation, market position, product launches, and customer base among others.
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Key takeaways from Prils Market study
Prils market size to increase by USD 784.14 million at a CAGR of 5.43% between 2021 and 2026
4.15% year-over-year growth expected in 2022
40% market growth to originate in North America during the forecast period
Dominant vendors include Aurobindo Pharma Ltd., Dr. Reddys Laboratories Ltd., Fazio Group of Companies, Lupin Ltd., Manus Aktteva Biopharma LLP. and others
Prils Market: Revenue Generating Segment
The prils market share growth by the hypertension segment will be significant for revenue generation. Technavio report provides an accurate prediction of the contribution of all the segments to the growth of the prils market size and actionable market insights on each segment which will assist in creating efficient business plans & strategies.
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Prils Market: Growth Drivers and Restraints
The rising geriatric population is one of the key factors driving the global prils market growth. The increase in the aging population is a matter of concern for many countries such as China, the US, and Japan. This growing population requires medical services, which in turn will positively impact the market in focus during the forecast period. For instance, the high incidence of cardiovascular diseases (CVDs) in the US is leading to a high rise in the consumption of CVD drugs. The governments are increasing the investment in R&D in hypertension and cardiovascular segment which will drive the global prils market growth. Furthermore, certain chronic diseases such as obesity, diabetes, and high cholesterol will increase the risk of heart disease, thereby increasing the demand for CVD drugs and further stimulating the growth.
However, the key challenge to the global prils market growth is the side effects of prils. The drugs used for the treatment of heart failure and hypertension have many side effects such as dizziness, ringing or buzzing in the ears, diarrhea, high potassium levels in the blood, which can cause heart rhythm problems, and swelling due to fluid buildup under the skin. This will encourage consumers to adopt other modes of management of diseases, such as maintaining a healthy lifestyle with proper diets and exercise. Therefore, such negative impacts of prils on patients and availability of a wide range of substitutes may reduce the adoption of prils for heart treatment in the market in focus during the forecast period.
The Prils Market report answers questions such as:
Is the market structure fragmented or concentrated?
What was the market size in 2022 and the forecast of the Prils Market through 2026?
Which are the best segment areas to invest in over the forecast period?
What is the market share of dominant and strong vendors in the Prils Market?
What are the latest trends and regulatory frameworks in the Prils Market?
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Prils Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 5.43%
Market growth 2022-2026
USD 784.14 million
YoY growth (%)
North America, Europe, Asia, and ROW
Performing market contribution
North America at 40%
Key consumer countries
US, Canada, Germany, China, and UK
Leading companies, competitive strategies, consumer engagement scope
Aurobindo Pharma Ltd., Dr. Reddys Laboratories Ltd., Fazio Group of Companies, Lupin Ltd., Manus Aktteva Biopharma LLP, Merck KGaA, Novartis AG, Pfizer Inc., Sun Pharmaceutical Industries Ltd., and Viatris Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
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