21 Jun 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Market analyst, GlobalData forecasts that global sales of LCZ-696, Novartis' novel combination drug for Chronic Heart Failure (CHF) may reach a massive $1.86 billion by 2022, with an estimated 15-to-20 percent of all CHF patients across the US and Europe treated with the drug by the end of the forecast period.
Following a launch scheduled for 2015 for the treatment of Chronic Heart Failure (CHF), Novartis' novel combination drug LCZ-696 will rapidly dominate the global CHF therapeutics sector and mark a drug development paradigm shift, according to research and consulting firm, GlobalData.
GlobalData expects the US to make up the bulk of LCZ-696's sales over the next decade. Revenue for the first-in-class combination drug is anticipated to top $1.6 billion by 2022, making it the most valuable drug in the US CHF market, with a 55 percent market share.
Uptake of LCZ-696 will be less impressive across Europe after an anticipated 2016 market entry, due to restrained healthcare spending and a greater penetration of generics. Out-of-the-five major European markets studied in the report, including UK, France, Germany, Italy, and Spain, GlobalData believes that LCZ-696 will become the top CHF therapeutic option in the UK and Germany by 2022.
With LCZ-696 acting as the key market driver, the global CHF therapeutics market is forecast to grow from $2.6 billion in 2012 to $4.5 billion in 2022, climbing at a compound annual growth rate (CAGR) of 5.7 percent.