The heart failure market is set to grow to $11.8bn by 2025 from $3.2bn in 2015, at a compound annual growth rate of 13.7%, according to a report by GlobalData.
According to the report, titled 'PharmaPoint: Heart Failure - Global Drug Forecast and Market Analysis to 2025', growth will be spurred by the introduction of Novartis' first-in-class drug, Entresto, along with the launch of acute heart failure add-on therapies.
The market will expand globally across the US, France, Germany, Italy, Spain, the UK, and Japan, and will also be driven by the rise in the number of chronic heart failure cases.
The leader in chronic heart failure segment was the US, which represented 61.1% of the total sales last year.
Entresto is a first-in-class, angiotensin receptor-neprilysin inhibitor (ARNi), introduced for treating chronic heart failure in the US and Europe in 2015 and 2016, respectively. Though the drug was launched with much fanfare, the response to it has been disappointing.
Elizabeth Hamson, Ph.D., GlobalData's analyst covering cardiovascular and metabolic disorders, explains, "Entresto has struggled to penetrate the chronic heart failure market, achieving dismal sales in the US since its launch in July 2015.
"GlobalData has identified high pricing and the general reluctance of cardiologists and physicians to adopt new therapies as the main barriers to the uptake of this drug."
The outlook for the drug is still promising, says the report. With its label expansion to heart failure with preserved ejection fraction, the drug is expected to become a market leader by 2020.
Hamson continues: "Cardiorentis' ularitide and Novartis' serelaxin represent novel and exciting treatment options for acute heart failure. Both are recombinant forms of human proteins that are intended to be used on top of the current standard-of-care for acute heart failure, intravenous administered loop diuretics.
"While the heart failure market will be invigorated by exciting new therapies over the forecast period, there will remain a major unmet need in the lack of a therapy, which can reverse disease progression, rather than merely slowing it down. In this way, GlobalData believes that the scope for the development of even better and more exciting heart failure drugs is still very broad."
The market for acute heart failure treatment hasn't witnessed any breakthrough advances in the past two decades. Only two acute heart failure drugs are currently being tested, in their Phase III trials.