The global benazepril market is expected to grow at a CAGR of nearly 3.2% during the forecast period. (2022-2028). Benazepril is a blood pressure drug that can be used alone or in combination with other drugs to treat excessive blood pressure. Benazepril is in a class of medicines known as angiotensin-converting enzyme (ACE) inhibitors. It works by reducing the number of specific molecules in the body that constrict blood vessels, enabling blood to flow more freely. High blood pressure is a common ailment that, if left untreated, can impair the brain, heart, blood vessels, kidneys, and other body organs. Damage to these organs can result in heart disease, a heart attack, heart failure, stroke, renal failure, vision loss, and other problems. Thus, the growing prevalence of cardiac-related disorders that pressurizes the cardiac arteries is majorly attributed to the surge in the demand for benazepril.

Impact of COVID-19 on Global Benazepril Market

The benazepril market has registered a rise in growth due to COVID-19. More than 30% of COVID-19 patients acquire renal impairment, and more than 50% of patients in the intensive care unit who develop kidney injury may require dialysis. Many people with severe COVID-19 also have other chronic illnesses, such as high blood pressure or diabetes. Both of these factors raise the chances of developing renal disease and enable the demand for benazepril which directly grows the global benazepril market.

Segmental Outlook  

The global benazepril market is segmented based on type and dosage form. Based on type the market is sub-segmented into purity: 98% and purity: 99%. Based on dosage form, the market is sub-segmented into tablets, capsules, and others. Among these, the tablet segment is anticipated to hold a major share in the market owing to the rise in research and development activities coupled with a new product launched by different companies.

Global Benazepril Market Share by Purity: 98%, 2021 (%)

Purity: 98% Segment is Expected to hold a Prominent Share in the Global Benazepril Market

The purity: 98% segment is expected to hold a prominent share in the global benazepril market as benazepril is a treatment that combines two drugs: an ACE inhibitor (benazepril) and a diuretic (water pill) (hydrochlorothiazide). It's a medication that's used to treat high blood pressure (hypertension). Thus the growing prevalence of high blood pressure all over the globe is further anticipated to boost the demand for benazepril, being a potent treatment option. According to World Health Organization, it is estimated that approx 1.28 billion adults aged 30-79 years globally have hypertension and approx 46% of adults with hypertension are unaware that they have the condition. 

Regional Outlook 

Geographically, the global benazeprilmarket is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, ASEAN, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Asia Pacific region is considered to be the fastest-growing market due to the growing improvement in healthcare infrastructure and the development of hospitals equipped with advanced medical facilities across the region. 

Global Benazepril Market Growth, By Region 2022-2028

The North America Region is Expected to Witness the Highest Growth Rate in the Global Benazepril Market

The North American region is expected to grow during the forecast period due to the growing prevalence of diabetes, which further is responsible for kidney diseases. According to the data published by CDC’s National Diabetes Statistics Report for 2019, 37.3 million Americans, or 11.3% of the total US population suffered from diabetes out of which 1.9 million Americans were identified with type-1 diabetes including approximately244,000 children and adults. Further, among 37.3 million diabetic patients, 28.7 million were diagnosed and 8.5 million were undiagnosed. However, the rise in the prevalence of pre-diabetes is one of the major factors driving the lixisenatide market in the region.

Market Players Outlook

The key players in the benazepril market contribute significantly by providing different types of products and increasing their geographical presence across the globe. The key players in the market include Novartis International AG, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Apotex Inc., and Aurobindo Pharma Ltd., among others. These market players are adopting several market strategies including product launch and approvals, merger and acquisition, partnership collaboration, business, and capacity expansion, and others. For instance, in December 2021, Novartis announced that it has entered into a definitive agreement to acquire all of the outstanding share capital of the UK-based ocular gene therapy company Gyroscope Therapeutics.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global benazepril market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.