Overview and Scope
The metoprolol tartrate market consists of sales of extended-release tablets, lopressor, and intravenous formulations. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and Forecast
The metoprolol tartrate market size has grown strongly in recent years. It will grow from $6.1 billion in 2023 to $6.41 billion in 2024 at a compound annual growth rate (CAGR) of 5%. The growth in the historic period can be attributed to rising awareness about hypertension, expansion and improvement of healthcare systems, early patent protections, and health initiatives.
The metoprolol tartrate market size is expected to see strong growth in the next few years. It will grow to $7.83 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to personalized medicine, enhanced medical education and training on the management of cardiovascular diseases, development of efficient drug distribution networks, patient education programs and increased funding for cardiovascular research. Major trends in the forecast period include consumer behavior analysis, supply chain optimization, development of 3D printing technologies for customizable drug formulations, increasing development and use of mobile health apps.
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Segmentation & Regional Insights
The metoprolol tartrate market covered in this report is segmented –
1) By Route of Administration: Oral, Injectable
2) By Application: Hypertension, Cardiovascular, Other Applications
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
North America was the largest region in the metoprolol tartrate market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the metoprolol tartrate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing prevalence of hypertension is expected to propel the growth of the metoprolol tartrate market going forward. Hypertension is a complex condition with multiple contributing factors. It can develop gradually due to lifestyle and genetic factors, or other underlying health conditions can cause it. The increasing prevalence of hypertension combines factors such as poor diet, lack of physical activity, obesity, stress, and an aging population. Metoprolol tartrate helps to manage hypertension by slowing the heart rate and reducing the force the heart pumps, leading to lower blood pressure. For instance, in December 2023, according to the Australian Bureau of Statistics, in 2022, over one in ten (11.6% or 3.0 million) people reported having hypertension. Additionally, in August 2021, according to the World Health Organization, a Switzerland-based Intergovernmental organization and Imperial College London joint press release, the number of adults aged 30–79 with hypertension increased from 650 million to 1.28 billion in the last thirty years. Therefore, the increasing prevalence of hypertension is driving the metoprolol tartrate market.
Impact Of Increasing Coronary Heart Disease Prevalence On The Metoprolol Tartrate Market
The increasing prevalence of coronary heart disease is expected to propel the growth of the metoprolol tartrate market going forward. Coronary heart disease is a condition characterized by the narrowing of the heart’s blood vessels due to plaque buildup, leading to decreased blood flow to the heart muscle and potential heart problems such as chest pain or heart attack. Coronary heart disease is caused by sedentary lifestyles, unhealthy dietary habits, smoking, obesity, high blood pressure, and diabetes, which contribute to the development and progression of this condition. Metoprolol tartrate helps manage coronary heart disease by reducing heart rate and blood pressure, preventing angina, protecting against acute coronary events, improving long-term outcomes, and managing arrhythmias. For instance, in December 2023, according to the Australian Bureau of Statistics, an Australian-based government administration, in 2020-21, an estimated 571,000 Australians aged 18 and over (2.9% of the adult population) were living with coronary heart disease. The prevalence of CHD increases rapidly with age, affecting around 1 in 9 (11%) adults aged 75 and over. Therefore, the increasing prevalence of coronary heart disease is driving the metoprolol tartrate market.
Key Industry Players
Major companies operating in the metoprolol tartrate market are Pfizer Inc., AstraZeneca plc, Novartis AG, Viatris Inc., Teva Pharmaceutical Industries Ltd., Macleods Pharmaceuticals Ltd., Sun Pharmaceutical Industries Ltd., Intas Pharmaceuticals Ltd., Aurobindo Pharma, Cipla Inc., Hikma Pharmaceuticals PLC, Amneal Pharmaceuticals, Glenmark Pharmaceuticals Ltd., Emcure Pharmaceuticals Ltd., Alembic Pharmaceuticals Inc., Accord Healthcare Inc., Beximco Pharmaceuticals Ltd., Micro Labs Ltd., Inventia Healthcare Pvt. Ltd., Watson Laboratories Inc., Aizant Drug Research Solutions Pvt. Ltd., Zydus Cadila, Validus Pharmaceuticals LLC, Strides Pharma Science Limited, APO-MEDIX Pty Ltd.
The metoprolol tartrate market report table of contents includes:
1. Executive Summary
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