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LAMEA Nifedipine Market

LAMEA Nifedipine Market Share to Register CAGR of 6.85% from 2022 to 2030

Published On : 09 Nov, 2022
Updated On : 25 Nov, 2022
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Market Snapshot

Base Year:
2021
Study Period:
2020-2030
CAGR:
6.85 %

Nifedipine is a calcium channel blocker, which means it prevents calcium from passing through artery walls. Nifedipine is used to cure high blood pressure, arrhythmias, and angina. Other therapeutic applications include ryanoids syndrome, cephalalgia, and other similar illnesses. The market is being driven by the increase in the senior population, healthcare spending, the rise in chronic conditions such as heart failure, arrhythmias, and hypertension, and increased healthcare awareness. On the other hand, government regulations and unfavourable pharmacological side effects such as hypotension, stomach ulcers, and congestive heart failure hinder the market growth. New development prospects are likely to emerge from R&D operations. High blood pressure is treated with dihydropyridine calcium channel blockers like nitrendipine and nisoldipine. Premature labour has been more common in recent years, increasing demand for the aforementioned drugs. Premature labour is treated with tocolytics, which work by decreasing muscle contractions. Nifedipine also protects preemies from developing health problems as a result of their early delivery. The global nifedipine market was worth USD 856.66 million in 2020, and it is expected to increase to USD 1,792.36 million by 2029, showing an annual growth rate of 8.49% (CAGR).

The LAMEA Nifedipine market size is expected to reach a valuation of USD 105.71 million by 2030, increasing at a CAGR of 6.85% during the forecast period (2022–2030). Also, in Middle East and Africa Nifedipine market size is expected to reach a valuation of USD 90.37 million by 2030, growing at a CAGR of 6.64% during the forecast period (2022–2030). Growth in the senior population, healthcare expenditure, the incidence of chronic illnesses such as heart failure, arrhythmias, and hypertension, and healthcare awareness are all driving the market in the LAMEA region. The prevalence of fattiness and diabetes in the Middle East is alarming, particularly in the Gulf region, which includes Kuwait, Saudi Arabia, Bahrain, Qatar, and the United Arab Emirates.

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Market Overview

Key Market Drivers

  • Increased Hypertension in the Region: The Middle East has a high prevalence of hypertension. The high prevalence of hypertension in the Middle East is thought to be due to a combination of variables, including longevity, infection control, sedentary lifestyle, dietary changes, and social stress. As a result, the need for medication is predicted to rise, as is the demand for Nifedipine in the region.
  • As the demand for calcium channel blocker drugs develops, product demand is likely to rise as well: Nifedipine is an effective treatment for a variety of illnesses, including high blood pressure (hypertension), heart attack, chilblain, cephalalgia, chest discomfort (angina), preterm labour, prinzmetal's angina (squeezing of blood vessels), and Raynaud's phenomenon (numbness of multiple body regions). Because of its usefulness, notably in the treatment of premature labour, the drug's total usage is increasing. It helps to prevent health problems that preemies are prone to as a result of their premature delivery by suppressing preterm labour by stopping muscle cell contractions. Calcium channel blockers and nifedipine may be in higher demand in Latin America and Middle East as a result of these causes.

Key Market Restraints

  • Presence of Substitutes: Nifedipine, a dihydropyridine calcium channel blocker, was once one of the most widely used hypertension medications, but safety and tolerability concerns, as well as the introduction of new classes of antihypertensive medications and a growing body of data showing the mortality benefit of other classes, caused a drop in demand, and thus this is a significant restraint in the market's growth in the region.

Key Market Opportunities

  • Favourable government assistance: Favourable government support would aid market expansion. For example, certain nations in the region have announced intentions to screen and treat more than 80% of hypertension patients by the end of 2025, and such programmes can present attractive prospects for the LAMEA market's leading players.

Segment Overview

The two varieties of nifedipine pills are nifedipine controlled-release tablets and nifedipine extended-action tablets. In 2021, the controlled-release pills of nifedipine had the most market share. Rising rates of hypertension and heart failure, the use of cutting-edge technology in pharmaceutical research, more funding from the government and international organisations, and increased public awareness about the importance of preventative treatment are all contributing to this significant increase.

Depending on the application, the section is divided into primary pulmonary hypertension, heart failure, Raynaud's disease, cephalalgia, and others. Primary pulmonary hypertension was the most common cause of pulmonary hypertension in 2021. Obesity, poor dietary habits, excessive junk food consumption, a lack of exercise, a surge in smoking and alcohol consumption among the younger population, and stress are all contributing factors. Increased government and corporate sector initiatives, as well as real programmes for the discovery of novel medications to treat hypertension and diabetes, are likely to move this field forward.

Hospital pharmacies, retail pharmacies, and other distribution channels make up the LAMEA nifedipine market. In 2020, hospital pharmacies dominated the regional market, which is predicted to grow at a quicker CAGR throughout the forecast period.

Regional Overview

LAMEA Nifedipine Market Countrywise Analysis

Regional Growth Insights Request Sample Pages

By 2030, the LAMEA Nifedipine market is estimated to be worth USD 105.71 million, with a compound annual growth rate (CAGR) of 6.85% over the forecast period (2022–2030). In addition, the market for nifedipine in the Middle East and Africa is estimated to reach USD 90.37 million by 2030, rising at a CAGR of 6.64% over the forecast period (2022–2030). The market in the LAMEA area is being driven by an increase in the senior population, healthcare spending, the incidence of chronic conditions such as heart failure, arrhythmias, and hypertension, and healthcare awareness. Fattiness and diabetes are becoming increasingly common in the Middle East, especially in the Gulf region, which encompasses Kuwait, Saudi Arabia, Bahrain, Qatar, and the United Arab Emirates.

Raynaud's Syndrome causes a reduction in effective blood flow to the extremities, particularly the fingers and toes; this causes chilly, pale fingers and toes, which are followed by pain and redness when blood flow resumes. The underlying issue is constriction of the blood arteries in these places as a result of cold, stress, or some other factor. Raynaud's syndrome has become more common in South Africa in recent years, necessitating the use of calcium channel blockers for therapy, which has increased demand for Nifedipine in the country.

The Middle East and North African area have the highest diabetes prevalence in 2019, at 12.2%, and is forecast to see a 96% increase in diabetes prevalence between 2019 and 2045, second only to the African region, which is expected to see a 143% increase. Diabetes and hypertension have developed dramatically in nations such as Iran, Jordan, Saudi Arabia, and the United Arab Emirates, resulting in increased demand for Nifedipine.

Major Players

Some of the major players in the LAMEA Region (having significant market shares) are listed below:

  • Boehringer Ingelheim GmbH
  • AstraZeneca plc
  • Pfizer Inc.
  • GlaxoSmithKline plc

LAMEA Nifedipine Market Segmentation

By Type

  • Nifedipine Controlled-Release Tablets
  • Nifedipine Extended Action Tablets

By Application

  • Primary Pulmonary Hypertension
  • Heart Failure
  • Raynaud’s Syndrome
  • Cephalalgia
  • Others

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Others

By Region

  • Brazil
  • Argentina
  • United Arab Emirates
  • Saudi Arabia
  • Qatar
  • South Africa
  • Nigeria
  • Kenya
  • Turkey
  • Rest of LAMEA
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