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Hypertrophic Cardiomyopathy Treatment Market Report 2024-2033 | Share, Trends, Demand, overview
Hypertrophic Cardiomyopathy Treatment Market Demand
According to The Business Research Company's, The hypertrophic cardiomyopathy treatment market size has grown steadily in recent years. It will grow from $1.31 billion in 2023 to $1.37 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to advances in diagnostic technologies, drug therapies, surgical interventions, clinical guidelines.
The hypertrophic cardiomyopathy treatment market size is expected to see steady growth in the next few years. It will grow to $1.62 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to targeted therapies, telemedicine and remote monitoring, personalized medicine, regenerative medicine. Major trends in the forecast period include early intervention, patient-centered care, wearable health technology, health equity initiatives.
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Market Drivers and Trends:
The increase in obesity is expected to propel the growth of the hypertrophic cardiomyopathy treatment market going forward. Obesity describes an abnormal or excessive fat build up that harms health. Obesity frequently arises from consuming more calories than are burnt through exercise and daily activities. The phenotype of hypertrophic cardiomyopathy (HCM) is thought to be influenced by obesity, which is very frequent in people with HCM. For instance, in March 2022, according to a report published by the World Health Organization, a Switzerland-based organization for public health, obesity affects more than one billion people globally, including 650 million adults, 340 million adolescents and 39 million children. Further, by 2025, roughly 167 million additional individuals will be less healthy due to being overweight or obese. Therefore, the increase in obesity will drive the hypertrophic cardiomyopathy treatment market.
Companies operating in the hypertrophic cardiomyopathy treatment market are working on new drug development to sustain their position in the market. Drug development and innovation boost scientific insights into disease mechanisms and accelerate the growth of new treatments. For instance, in April 2022, Bristol Myers Squibb Co., a US-based pharmaceutical development and manufacturing company, announced that the US Food and Drug Administration (FDA) had approved Camzyos (mavacamten) to be used in the treatment of people with symptoms of obstructive hypertrophic cardiomyopathy (obstructive HCM), New York Heart Association (NYHA) class II-III. Camzyos is a novel allosteric and reversible cardiac myosin inhibitor that addresses the underlying pathology of obstructive HCM. With this FDA clearance, cardiologists in the United States will now have a new pharmaceutical alternative for eligible patients that tackles the disease's underlying pathophysiology.
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Major Key Players of the Market:
Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca PLC, Abbott Laboratories Ltd., GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Gilead Sciences Inc., Teva Pharmaceutical Industries Ltd., Boston Scientific Corporation, Mylan N.V., Sun Pharmaceutical Industries Ltd., PerkinElmer Inc., Cipla Ltd., Aurobindo Pharma Ltd., Bio-Rad Laboratories Inc., Covance Laboratories Ltd., Hikma Pharmaceuticals PLC, Endo International Inc., Lupin Limited, Zydus Lifesciences Limited, XyloCor Therapeutics Inc., Cytokinetics Inc., Santhera Pharmaceuticals Holding AG, DiNAQOR AG, Correvio Pharma Corp, Cardurion Pharmaceuticals Inc.
Hypertrophic Cardiomyopathy Treatment Market 2024 Key Insights:
• The hypertrophic cardiomyopathy treatment market is expected to grow to$1.62 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%.
• Rising Obesity Rates Fuel Growth In Hypertrophic Cardiomyopathy Treatment Market
• Innovative Drug Development Drives Advancements In Hypertrophic Cardiomyopathy Treatment Market
• North America was the largest region in the hypertrophic cardiomyopathy treatment market in 2023. The regions covered in hypertrophic cardiomyopathy treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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