Pipeline Analysis: Hypertrophic Cardiomyopathy (HCM) Therapeutics Market Share, by Key Players, 2023

TMR estimates the overall value of the global hypertrophic cardiomyopathy therapeutics market at US$1.2 bn in 2014. Exhibiting a moderate CAGR of 1.4% from 2015 to 2023, the market is expected to reach US$1.3 bn by the end of 2023.

Global Hypertrophic Cardiomyopathy Therapeutics Market – Key Trends

With heart diseases emerging as one of the most common causes of mortality among men and women worldwide, Transparency Market Research (TMR) expects the demand for hypertrophic cardiomyopathy (HCM) therapeutics to surge considerably. Furthermore, the market is expected to gain significant impetus from successful government interventions aimed at spreading awareness about hypertrophic cardiomyopathy.

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TMR projects the global HCM therapeutics market to expand at a moderate 1.4% CAGR between 2015 and 2023. Despite witnessing positive opportunities, the rising demand for advanced medical devices could threaten the market’s growth to an extent. Nevertheless, since the majority of HCM drugs are yet to get approved, the hypertrophic cardiomyopathy therapeutics market is likely to gain momentum post their approval in the near future.

According to TMR, the global hypertrophic cardiomyopathy therapeutics market is expected to reach US$1.37 bn in 2023, from US$1.2 bn in 2015. The leading players in the market are likely to capitalize on the untapped opportunities in the healthcare sector of emerging economies to expand their footprint.

Demand for HCM Therapeutics Surges due to Increasing Incidence of Congestive Heart Failure

“The prevalence of chronic cardiovascular ailments is fueling demand for effective treatment, which has been translating into lucrative sales opportunities for hypertrophic cardiomyopathy therapeutics,” said a lead TMR analyst. Heart diseases make one of the most common causes of death in both men and women around the world. According to TMR, the rising incidence of congestive heart failure considerably fuels demand for effective medications. This creates attractive opportunities for sales of hypertrophic cardiomyopathy therapeutics.

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"Besides this, successful interventions conducted across several countries to spread awareness about hypertrophic cardiomyopathy have also aided the expansion of the HCM therapeutics market,” said the TMR analyst. Furthermore, patients are now more aware about the latest medical advances, which augurs well for the market. ECG screening is the most efficient technology for diagnosing HCM. The success demonstrated by this technology has significantly contributed in fuelling demand for HCM therapeutics.

Rising Prevalence of Obesity to Fuel Demand for HCM Therapeutics in North America

North America, Europe, Asia Pacific, and Rest of the World constitute the key markets by geography for HCM therapeutics. Among these regions, with a share of 31.1%, North America emerged as the leading contributor to the market in 2014, followed by Europe. Both these regions boast a sophisticated healthcare infrastructure, which augurs well for the HCM therapeutics market.

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The increasing prevalence of obesity among the younger population in North America and their preference towards a sedentary lifestyle, are primary factors augmenting demand for HCM therapeutics from the region. The rising cases of cardiac arrests reported every year in North America will seal the region’s dominance in the market through the forecast period. In North America, the U.S. reports the highest demand for HCM therapeutics.

However, according to TMR, the market is expected to witness stronger growth across the emerging economies of Asia Pacific and Rest of the World. Asia Pacific is expected to report the fastest CAGR during the course of the forecast period. The development of modern healthcare facilities in the region, rising healthcare expenditure, and the increasing awareness about HCM, are primary factors fuelling demand for HCM therapeutics from Asia Pacific.

Some of the leading companies in the global hypertrophic cardiomyopathy therapeutics market are Sanofi S.A., Merck & Co., Pfizer, Inc., Mylan N. V. Teva Pharmaceuticals Limited, Novartis AG, and Others.

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.