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Myocardial Ischemia Market Trends Analysis, Market Opportunities, Key Players, Share And Forecast To 2033
Myocardial Ischemia Market Trends
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According to The Business Research Company's, The myocardial ischemia market size has grown strongly in recent years. It will grow from $0.74 billion in 2023 to $0.79 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to utilization of telemedicine and remote monitoring, development of novel reperfusion therapies for mi, increased cases of obesity, increased cases of high blood pressure, increase in cases of heart attacks.
The myocardial ischemia market size is expected to see strong growth in the next few years. It will grow to $1.04 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to prevalence of various heart-related diseases, growing awareness of the population about cardiovascular diseases, constantly changing lifestyles of people, rising cases of diabetes, rising healthcare expenditure. Major trends in the forecast period include adoption of myocardial ischemia treatments, better healthcare infrastructures, advancements in treatment options, integration of digital health solutions, launches of cardiac rehabilitation programs.
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Market Drivers and Trends:
The rising incidence of diabetes is expected to propel the growth of the myocardial ischemia market going forward. Diabetes refers to a group of metabolic disorders that involve the body's inability to produce or effectively use insulin, a hormone produced by the pancreas that regulates blood sugar levels. The rising incidence of diabetes is due to obesity and severe obesity, a lack of physical activity, and genetic factors. The growing prevalence of diabetes contributes to the higher incidence of myocardial ischemia, leading to increased demand for diagnostic, therapeutic, and management solutions for myocardial ischemia. For instance, in 2021, according to the International Diabetes Federation (IDF), a UK-based umbrella organization of over 240 national diabetes associations, there were approximately 537 million adults aged 20-79 living with diabetes worldwide 2021, which is expected to rise to 643 million by 2030 and 783 million by 2045. Therefore, the rising incidence of diabetes is a driver for the myocardial ischemia market.
Major companies operating in the myocardial ischemia market are developing innovative drugs such as Lodoco (colchicine) to reduce inflammation and lower the risk of cardiovascular events in patients with coronary artery disease. Lodoco is indicated to reduce the risk of myocardial infarction (MI), stroke, coronary revascularization, and cardiovascular death in adult patients with established atherosclerotic disease or with multiple risk factors for cardiovascular disease. For instance, in June 2023, Agepha Pharma, a US-based pharmaceutical company, launched Lodoco (colchicine), approved by the Food and Drug Administration, a US-based government agency. This approval marks the first FDA-approved treatment targeting cardiovascular inflammation. It is based on data from the LoDoCo2 trial, which demonstrated a 31% relative reduction in the risk of cardiovascular events with colchicine 0.5 mg once daily compared to placebo. Lodoco is prescribed to lower the risk of myocardial infarction (MI), stroke, coronary revascularization, and cardiovascular death in adult patients with established atherosclerotic disease or multiple cardiovascular risk factors.
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Major Key Players of the Market:
Cardinal Health Inc., Pfizer Inc., Roche Holding AG, Bayer AG, Sanofi SA, Novartis AG, Bristol-Myers Squibb Company, AstraZeneca Plc, Abbott Laboratories Inc., Eli Lilly and Company, Novo Nordisk A/S, Medtronic Plc, Boehringer Ingelheim International GmbH, Gilead Sciences Inc., Siemens Healthineers AG, Merck KGaA, GE HealthCare Technologies Inc., Fujifilm Holdings Corporation, Baxter International Inc., Regeneron Pharmaceuticals Inc., Boston Scientific Corporation, Daiichi Sankyo Company Limited, Canon Medical Systems Corporation
Myocardial Ischemia Market 2024 Key Insights:
• The myocardial ischemia market size is expected to see strong growth in the next few years. It will grow to $1.04 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
• Diabetes Epidemic Fuels Myocardial Ischemia Market Growth
• Innovative Approaches In Myocardial Ischemia Treatment With FDA Approval of Lodoco (Colchicine) Highlights New Era In Cardiovascular Care
• North America was the largest region in the myocardial ischemia market in 2023
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