Global Propranolol Market Size To Worth USD 0.465 Billion By 2033 | CAGR Of 3.15%
Category: HealthcareGlobal Propranolol Market Size To Worth USD 0.465 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Propranolol Market Size is expected to grow from USD 0.341 billion in 2023 to USD 0.465 billion by 2033, at a CAGR of 3.15% during the forecast period 2023-2033.
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Browse key industry insights spread across 200 pages with 102 Market data tables and figures & charts from the report on the "Global Propranolol Market Size, Share, and COVID-19 Impact Analysis, By Dosage Form (Injection and Oral), By Indication (Hypertension, Arrhythmia, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/propranolol-market
The propranolol market is a drug development and commercialization sector that focuses on managing hypertension and arrhythmia. Propranolol is a nonselective antagonist at beta adrenergic receptors, binding with high affinity to beta-1 and beta-2 receptor subtypes. It is used to treat cardiovascular disorders and non-cardiovascular conditions. The market growth is driven by government initiatives focusing on hypertension control and management. The India Hypertension Control Initiative (ICHI) aims to reduce hypertension prevalence by 25% by 2025, with an estimated 20 crore adults affected. The Indian Heart Foundation (IHCI) promotes comprehensive cardiovascular health strategies, healthy lifestyle habits, evidence-based treatment protocols, access to essential medicines, patient-centered care, team care, and monitoring systems. The rising incidence of atrial fibrillation, a type of cardiac arrhythmia, has increased the need for beta blockers like propranolol for treatment. The Heart Rhythm Society states that atrial fibrillation is a serious heart condition affecting nearly 40 million people globally and 6 million in the US. However, alternative drugs for hypertension may hinder market growth.
The oral segment accounted for the highest growth rate in 2023.
Based on the dosage form, the global propranolol market is categorized as injection and oral. Among these, the oral segment accounted for the highest growth rate in 2023. The growth of the segment is attributed to its non-invasive, patient-compliant, easy-to-administer, effective, safe, cost-effective, bioavailability, and convenient in tablets and capsules.
The arrhythmia segment dominated the global propranolol market in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe.
Based on the indication, the global propranolol market is categorized as hypertension, arrhythmia, and others. Among these, the arrhythmia segment dominated the global propranolol market in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe. The increasing atrial fibrillation cases, widespread use of propranolol for irregular heartbeats, increasing elderly populations, and rapid therapeutic efficacy of propranolol are driving market growth.
North America is expected to hold the greatest share of the global propranolol market over the forecast period.
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North America is expected to hold the greatest share of the global propranolol market over the forecast period. Strong R&D activities, large healthcare expenditures, and advanced healthcare infrastructure are the main drivers of market growth. The region's developed healthcare system guarantees the accessibility and widespread availability of propranolol. The growing prevalence of cardiovascular diseases and mental health disorders is another factor driving demand for propranolol.
Asia Pacific is predicted to hold the fastest-growing region of the global propranolol market throughout the estimated period. The major factors driving market expansion are the prevalence of cardiovascular diseases, increased awareness of mental health issues, and simpler access to healthcare. Countries like China, India, and Japan have contributed significantly to this expansion because of their large populations and evolving healthcare systems. The region's expanding middle class and increased healthcare expenses support market growth.
Major key players in the global propranolol market are Sanofi, Atnas Pharma, Mylan Laboratories, Apotex, Inc., Teva Pharmaceutical Industries Ltd., Lupin Limited, Pfizer Inc, Zentiva, Intas Pharma, Novartis, Zydus Pharma, Towa Yakuhin, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In January 2024, Lupin Limited received the USFDA approval for its Abbreviated New Drug Application for Propranolol Hydrochloride Extended-Release Capsules USP, which was manufactured at Lupin’s Pithampur facility in India.
- In August 2023, Lupin Pharma Canada Ltd., a wholly owned subsidiary of Lupin Limited, introduced novel Propranolol LA (long-acting) capsules in Canada. These capsules are available in four different strengths: 60 mg, 80 mg, 120 mg, and 160 mg. Propranolol LA, a generic version of Inderal® LA, to address the medical needs of Canadian patients. This extended-release version, available post-discontinuation of Inderal® LA, ensures consistent symptom mitigation, boosts patient compliance, and improves overall quality of life. The launch demonstrates Lupin's commitment to improving healthcare accessibility and affordability, demonstrating their dedication to meeting the unfulfilled requirements of patients.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global propranolol market based on the below-mentioned segments:
Global Propranolol Market, By Dosage Form
- Injection
- Oral
Global Propranolol Market, By Indication
- Hypertension
- Arrhythmia
- Others
Global Propranolol Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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