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Hypertrophic Cardiomyopathy Therapeutics Market to Reach US$1.3 Billion by the end of 2023
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According to the American Heart Association, hypertrophic cardiomyopathy is a common condition that occurs when the muscle cells of the heart enlarge, causing the ventricle walls to thicken. HCM affects both men and women and is a common cause of sudden cardiac arrest in young people. The rising incidence of obstructive and non-obstructive hypertrophic cardiomyopathy is anticipated help the global market maintain a steady, albeit meager CAGR of 1.4% from 2015 to 2023. In 2014, the value of the hypertrophic cardiomyopathy therapeutics market was pegged at US$1.2 bn, which is forecast to increase to US$1.4 bn by 2023.
The global market for hypertrophic cardiomyopathy therapeutics has been studied on two fronts: By drug class and by geography.
Based on drug class, the hypertrophic cardiomyopathy therapeutics market has been categorized into calcium channel blockers, anticoagulants, beta adrenergic blocking agents, and antiarrhythmic agents. Although beta adrenergic blocking agents are the first preference for the treatment of obstructive as well as non-obstructive hypertrophic cardiomyopathy, calcium channel blockers form the largest segment in the overall market in terms of revenue. This can be attributed to the fact that the price of the latter blocking agents is much higher than that of the former.
By geography, the global hypertrophic cardiomyopathy therapeutics market comprises, Asia Pacific, North America, Europe, and Rest of the World. North America and Europe dominate the worldwide market, with the U.S. being the largest market for hypertrophic cardiomyopathy therapeutics. Accounting for a share of over 30% in 2014, the country is projected to retain is lead position throughout the forecast period. The hypertrophic cardiomyopathy therapeutics markets in Europe and North America are fueled by the rising prevalence of sedentary lifestyle among the younger population, the availability of modern healthcare infrastructure, and an increased presence of obesity. Growing awareness about hypertrophic cardiomyopathy and the various therapeutics available today has also significantly propelled the hypertrophic cardiomyopathy therapeutics market in these two regions.
Asia Pacific is predicted to be the fastest expanding market by 2023, fueled primarily by the rapid development in healthcare infrastructure, the increasing prevalence of various chronic diseases, and the growing awareness about various cardiac complications.
The report offers a detailed section on the competitive landscape of the global hypertrophic cardiomyopathy therapeutics market. The strengths, weaknesses, opportunities, and threats of each of the profiled players have also been examined in the report. Some of the promising companies in the hypertrophic cardiomyopathy therapeutics market are Teva Pharmaceuticals Limited, Gilead Sciences, Inc., Merck & Co., Inc., AstraZeneca plc, Concordia Healthcare Corp., Pfizer, Inc., Mylan N.V., Novartis AG, and Sanofi S.A.
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