Polypill Products Market: Overview
- The term polypill product corresponds to medication which is a drug product in pill form that conglomerates multiple active pharmaceutical ingredients. Polypill tends to considerably improve medication adherence that results in overall improvement of health outcomes.
- In 2003, at the Wolfson Institute of Preventive Medicine in London, the U.K., Nicholas Wald and Malcolm Law proposed that instead of giving several drugs for treatment of various risk factors, individual pharmaceutical ingredients can be combined into a single combination drug, called polypill
- In Europe, the first cardiovascular polypill was developed through public-private partnership (CNIC-Ferrer), and became available in market as a therapy for cardiovascular disease prevention
- The global polypill products market is projected to expand at a significant pace during the forecast period. The growth of polypill products market is expected to be driven by increase in prevalence of geriatric population, rise in prescription rate of polypill products, and increased awareness about consequences of non-adherence.
Key Drivers of Global Polypill Products Market
- The global polypill products market is expected to be driven by rise in geriatric population, increaase in number of polypill products available in market, and technological advancements
- According to the World Health Organization and International Diabetes Federation statistics, in the future years, an exponential increase in geriatric population which is susceptible to multiple diseases can be anticipated. Thus, with increase in number of drugs required for disease treatment, the complexities associated with therapeutic intervention follows. Also, elderly residents has been recognized to have the highest rate of self-medication, which could muddle their compliance and benefit from treatment. Thus, in these cases, an appropriate combination of drugs can be proven to be therapeutic as well as preventative.
- Cardiovascular disease (CVD) is the one of the major diseases contributing to mortality, resulting in almost 4.1 million deaths each year. In Europe alone, CVD results in more than 1.9 million deaths annually. CVD results in disability and premature death worldwide. Despite European and American guidelines supporting the use of medical therapies, a large number of patients still do not adhere to guideline-recommended treatment. Thus, the polypill approach has been devised as an innovative strategy to improve cardiovascular health across the world.
North America to Hold Major Share of Global Polypill Products Market
- North America is projected to account for a prominent share of the global polypill products market during the forecast period. Increase in geriatric population, high rate of adoption of polypill owing to increased physician’s prescriptions, and technological advancements in the U.S. are expected to fuel the growth of polypill products market in the region.
- Favorable reimbursement policies, increase in number of laboratories for hemoglobin A1c testing, growth of cardiovascular complications among the geriatric population, and rise in funding by governments are anticipated to propel the North America polypill products market during the forecast period
- Increase in number of patients with multiple diseases visiting hospitals and clinics and focus of new players on launching of new products is projected to propel the polypill products market in the U.S.
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Key Players Operating in Global Polypill Products Market
Major players operating in the global polypill products market are:
- Dr. Reddy’s Laboratories Ltd.
- Pfizer Inc.
- GlaxoSmithKline plc
- Cadila Healthcare Ltd
- Cipla Limited
- Sanofi S.A.
- Ferrer Internacional, S.A.
Global Polypill Products Market: Research Scope
Global Polypill Products Market, by Indication
- Cardiovascular Disorders
- Gastric Ulcers
Global Polypill Products Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa