Myocardial Ischemia Market A USD 50,120.3 Million Industry Statistics and Analysis with Top Players 2018-2023

Myocardial Ischemia Market – Overview

The global market for myocardial ischemia is all set to garner USD 50,120.3 million if it can maintain the momentum at the touted CAGR of 6% during the assessment period (2017-2023), reports Market Research Future (MRFR). Myocardial ischemia occurs when the blood flow to the heart is reduced due to some blockage and subsequently leads to cardiac arrest. Timely diagnosis and proper treatment will be instrumental in saving lives of patients.

One of the major factors driving the market is the prevalence of coronary heart disease. The disease is characterized by the hardening and narrowing of the arteries that hinder the blood flow to the heart by building plaques (atherosclerosis). According to the Centers for Disease Control and Prevention (CDC), in 2017, coronary heart disease was the most common type of heart disease within the U.S., and around 366,000 people succumbed to this disease in 2015. Astonishingly, the number of people contracting this disease is spiraling high.

Diabetic patients are more prone to this disease due to cardiac autonomic dysfunction. As per a study published in the Endocrinology, Diabetes & Metabolism Case Reports journal in 2013, 22% of the patients diagnosed with type 2 diabetes had shown symptoms of Silent Myocardial Ischemia (SMI). The number of people getting affected by diabetes is showing no sign of slackening down. This could also trigger the market growth.

However, the high cost of the procedures is a barrier that could impede the market growth. Angioplasty and stenting, coronary artery bypass surgery, and enhanced external counterpulsation (EECP) are some of the methods used for myocardial ischemia, and most of them incur a high cost.

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Myocardial Ischemia Market – Top Players

India, China, and Australia in APAC region are emerging as a possible market for myocardial ischemia. India is the fastest growing one in the healthcare segment. With a staggering CAGR of 22.87%, the market is expected to cross USD 280 billion by 2020. These possibilities in the region create further prospects for the established brand where they can expand their business. Australia also has a burgeoning patient population where around 643,000 adults had reportedly got affected by the disease in period of 2014-2015.

Mostly, the vendors try to stay abreast in this competitive market by bringing in the latest technologies and innovations and implementing them in increasing their portfolio. Expansion of their business in various countries is another strategy employed to curb the share of the competition. For instance, Boston Scientific, Inc. with a vast product portfolio in the myocardial ischemia industry has started operating in more than a dozen countries. It has a considerable influence in markets of several countries such as North America, Europe, and the Middle East and Africa,

The key players profiled in the market are Boston Scientific, Inc., Johnson and Johnson Services Inc. (Janssen Global Services, LLC.), Pfizer Inc., Bayer AG, AstraZeneca, Edward Lifesciences, Taxus Cardium, Merck KGaA, Novartis AG, Daiichi Sankyo Company Limited, and others.

Global Myocardial Ischemia Market – Regional Analysis

Region-wise the market is segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).

The Americas are the flag-bearer, with an estimated market revenue of USD 18,130.3 million during the forecast period, the region is going to dominate the global market. The market is expected to grow with CAGR of 6.21%. North America solely accounted for 35.7% of the global market share in 2017. Obesity, sedentary lifestyle, increasing number of diabetes cases, and increasing alcohol consumption in the U.S. are factors that can boost the market demand further.

Europe is the second largest market owing to the fact that the rate is people getting affected by cardiovascular diseases in Europe is pretty high. As reported by European Cardiovascular Disease Statistics in 2017, 45% of deaths in Europe occur due to cardiovascular diseases (CVD).

APAC is the third largest market but expected to register the fastest growth rate of 6.42% during the assessment period. The region has the highest number of diabetic patients, with 60% of the world’s diabetic population living here. This daunting number poses a silent ischemic attack threat to the inhabitants in the region. Hence, the market could expect an unprecedented growth.

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Global Myocardial Ischemia Market – Segmentation

The global market of myocardial ischemia can be segmented by type, diagnosis & treatment, and end-user.

By type, the market includes symptomatic, asymptomatic (silent), and others. In the U.S., American Heart Association reported that each year 3 to 4 million citizens can become a target of asymptomatic ischemia. Moreover, people with cardiac arrest history and diabetes are more susceptible to this type of ischemia. Hence, the rise in number of such patients each year and the segment dominates the market. Asymptomatic ischemia lead the market with 73.3% of the market share in 2017.

On the basis of diagnosis, the market comprises imaging and stress test. The diagnosis segment covered 34.8% of the global market in 2017. Based on treatment, the market consists medications and surgery. The increasing number of ischemia patients requires proper treatment to lead a healthy life. Therefore, the largest market share is expected to be generated by this segment.

Based on end-users, the market includes hospitals & clinics, diagnostic centers, pharmacies, academic institutes, and others. The advanced technologies allow hospitals & clinics to help the patient go through all the necessary steps. Hospitals & clinics are expected to touch the USD 18744.2 million mark during the review period at an impressive CAGR of 6.31%.

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This release was published on openPR.