The global sotalol market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Sotalol, a methanesulfonamide, is a class III antiarrhythmic drug that belongs to a group of medicines called beta-blockers and is used for the treatment of atrial fibrillation and other conditions that cause an irregular heartbeat (arrhythmia). It is used to support keep the heart beating normally. The major factor driving the demand for sotalol is the increasing incidence of atrial fibrillation across the globe.
According to the American Heart Association report, atrial fibrillation is a common heart arrhythmia in adults with approximately 1 in 4 adults over the age of 40 years developing AFib1. Furthermore, as per the same source, it is estimated that nearly $6 billion is spent on AFib hospitalizations in the US each year. Hence, the increasing prevalence of cardiac arrest is driving the demand for sotalol for treatment as it stabilizes the heartbeat which in turn is driving the growth of the market. However, the growth of the market is hampered due to the side effects associated with sotalol such as blurred vision, chest pain, tightness or discomfort, confusion, difficult or labored breathing, among others.
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Some major players in the market include Bayer AG, GlaxoSmithKline plc, and Bristol-Myers Squibb, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in March 2020, AltaThera Pharmaceuticals, LLC announced the approval of a new indication for Sotalol IV in AFib patients from the US Food and Drug Administration (FDA).
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
Segment Covered-
- By Type
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Bayer AG, GlaxoSmithKline plc, and Bristol-Myers Squibb, among others.
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Global Sotalol Market Report by Segment
By Type
- 40 Mg
- 80 Mg
By Application
- Sustained Ventricular Tachycardia
- Atrial Fibrillation
Global Sotalol Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
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