Last updated: December 31, 2024
Introduction to Diltiazem
Diltiazem is a calcium channel blocker used primarily to treat hypertension, angina, and certain heart rhythm disorders. The drug works by relaxing the muscles of the heart and blood vessels, thereby reducing blood pressure and improving blood flow.
Market Size and Growth Projections
The global diltiazem market is anticipated to experience significant growth over the coming years. Here are the key projections:
- Current Market Size: The diltiazem market was valued at US$ 369.95 million in 2021[1][2][4].
- Projected Market Size: It is expected to reach US$ 832.51 million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 12.3% from 2021 to 2028[1][2][4].
Market Drivers
Several factors are driving the growth of the diltiazem market:
Increase in Cardiovascular Disease Incidence
The rising incidence of cardiovascular diseases, such as hypertension and angina, is a major driver. Cardiovascular diseases are more prevalent among the elderly, and the increasing elderly population globally is contributing to this trend[1][2][4].
Increasing Elderly Population
The elderly population is more prone to cardiovascular diseases due to structural and functional changes in the cardiovascular system associated with aging. This demographic shift is expected to bolster the demand for diltiazem[1][2][4].
Market Restraints
Despite the positive growth drivers, there are some restraints to consider:
Side Effects of Diltiazem
The side effects associated with diltiazem, such as dizziness, headache, and swelling, are likely to hamper the market growth. These side effects can deter some patients from using the drug, especially those with sensitive health conditions[1][2][4].
Market Segmentation
The diltiazem market is segmented based on product type and application.
By Product Type
- Tablets: Held the largest share of the market in 2021. However, the capsules segment is expected to witness the fastest CAGR of 12.8% during the forecast period[1][2][4].
- Capsules: Expected to grow rapidly due to their ease of administration and patient compliance.
- Injection: Used in more severe cases or in hospital settings.
By Application
- Hypertension: Held the largest share of the market in 2021. The hypertension segment continues to dominate due to the high prevalence of hypertension globally[1][2][4].
- Angina: Expected to grow at the fastest CAGR during the coming years, driven by the increasing incidence of angina among the elderly population.
- Others: Includes other cardiovascular conditions where diltiazem is prescribed.
Regional Insights
The diltiazem market is analyzed across various regions:
North America
- The North America diltiazem market was valued at US$ 161.53 million in 2021 and is projected to reach US$ 369.22 million by 2028, growing at a CAGR of 12.5%[4].
Europe
- The European market experienced some disruption at the beginning of the COVID-19 pandemic due to supply chain issues and lockdowns. However, it has since recovered and continues to grow[2].
Asia-Pacific, Middle East and Africa, and South and Central America
- These regions are also expected to contribute significantly to the market growth, driven by increasing awareness and the growing elderly population[1][2].
Impact of COVID-19
The COVID-19 pandemic had a mixed impact on the diltiazem market:
- Initial Disruption: The pandemic caused disruptions in the supply chain and reduced demand due to lockdowns in various regions[2].
- Positive Impact: However, the pandemic also highlighted the importance of cardiovascular health, and diltiazem saw increased demand as it is believed to inhibit viral growth and related hypertension[2][4].
Key Market Players
Several major pharmaceutical companies are operating in the diltiazem market:
- Bausch Health
- Teva Pharmaceutical Industries Ltd
- Mylan N.V
- Athenex
- Pfizer, Inc
- Glenmark
- Sandoz (Novartis Ag)
- Sun Pharmaceutical Company Ltd
- Hikma Pharmaceuticals
- Zydus Pharmaceuticals[1][2][4].
These companies are focusing on product innovations and expanding their offerings to meet evolving customer demands.
Future Trends and Opportunities
Growth Opportunities in Developing Nations
There is significant potential for growth in developing countries where access to healthcare is improving, and the awareness of cardiovascular diseases is increasing[2].
Recent Developments in the Market
Recent developments include the introduction of new formulations and the expansion of existing product lines by key market players. These innovations are expected to further drive market growth[2][4].
Key Takeaways
- The global diltiazem market is projected to reach US$ 832.51 million by 2028, growing at a CAGR of 12.3% from 2021 to 2028.
- The market is driven by the increasing incidence of cardiovascular diseases and the growing elderly population.
- The capsules segment is expected to witness the fastest CAGR, while the hypertension segment holds the largest market share.
- Key market players are focusing on product innovations and expanding their offerings.
- The COVID-19 pandemic had a positive impact on the market due to increased awareness of cardiovascular health.
FAQs
Q: What is the current market size of the diltiazem market?
A: The diltiazem market was valued at US$ 369.95 million in 2021[1][2][4].
Q: What is the projected growth rate of the diltiazem market?
A: The market is expected to grow at a CAGR of 12.3% from 2021 to 2028[1][2][4].
Q: Which segment holds the largest share in the diltiazem market by application?
A: The hypertension segment holds the largest share in the diltiazem market by application[1][2][4].
Q: What are the major side effects of diltiazem that could hamper market growth?
A: The major side effects include dizziness, headache, and swelling[1][2][4].
Q: How did the COVID-19 pandemic impact the diltiazem market?
A: The pandemic initially caused supply chain disruptions but later boosted demand due to increased awareness of cardiovascular health and the potential of diltiazem to inhibit viral growth and related hypertension[2][4].
Sources
- The Insight Partners, "Diltiazem Market Size, Share & Growth Analysis by 2028".
- PR Newswire, "Global Diltiazem Market (2021 to 2028) - Featuring Zydus Cadila, Glenmark, and Athenex Among Others".
- Market Research Reports, "Diltiazem - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030".
- Business Market Insights, "Diltiazem Market in North America report 2028".
- QY Research, "Global Diltiazem Hydrochloride Market Insights, Forecast to 2030".
