Hypertrophic Cardiomyopathy (HCM) Therapeutics Market Forecasted to Reach US$1.37 bn in 2023

The global hypertrophic cardiomyopathy (HCM) therapeutics market has been anticipated in a report penned by Transparency Market Research (TMR) to witness the dominance of industry players with a high sales rate. With that mentioned, generic players could make their presence known in the market but at a gradual pace. Leading players, viz. Merck & Co., Pfizer, Inc., and Sanofi S.A., have been foretold to account for a majority of the market share, which could reveal the significantly consolidated nature of the market. An intense level of competition could take shape among leading players as they mainly focus on product portfolio differentiation and expansion to garner a sustainable growth.

With a CAGR of 1.4% expected to be achieved between 2015 and 2023, the TMR report has prognosticated the global HCM therapeutics market to be worth a US$1.3 bn by the concluding forecast year from a US$1.2 bn in 2015. By drug class, calcium channel blockers could overpower other markets under the classification with a higher share. For the forecast timeframe 2015–2023, the calcium channel blockers market could expand at a 1.8% CAGR. By region, Asia Pacific could outpace other regional markets with a 2.9% faster CAGR.

According to a lead analyst at TMR, the world HCM therapeutics market could gather some choice sales prospects in the coming years due to the elevating demand for effective treatment options. This could be foreseen taking into consideration the aggressive occurrence of chronic cardiovascular diseases. One of the most frequent causes of death among both men and women around the globe has been researched to be heart disease. The demand for effective medications could see a consistent rise on the back of the increasing prevalence of congestive heart failure. As a result, there could be attractive prospects taking precedence in the market.

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The expansion of the world HCM therapeutics market has been envisaged to be aided by successful interventions performed in different countries, which spread awareness about HCM. Moreover, patients across the globe have become more aware about the latest advancements in the medical sector, which could bode well for the market. One of the most efficient technologies deemed for diagnosing HCM has been projected to be electrocardiogram (ECG) screening. The demand in the market could consequently be benefited by the success achieved by this technology.

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Deep Penetration of Sophisticated Medical Equipment Distracts Growth

The growth trajectory of the international HCM therapeutics market has been forecasted to be disturbed by the surging penetration of defibrillators, pacemakers, and other medical devices, despite optimistic opportunities expected to prevail. The rising adoption of cutting-edge medical devices such as implantable and gene therapy could arrest the scope of the expansion of the market. Positive results achieved by these highly advanced devices could spread an increasing awareness about them among patients and also the general public.

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Nonetheless, sales opportunities for HCM therapeutics have been foreseen to gain a strong boost in the foreseeable future with the approval of drugs specifically manufactured for treating HCM. Swiftly rising markets such as Asia Pacific could be at the forefront of creating favorable prospects for players as medical expenditure and unmet medical needs see a consistent increase. Even developed markets such as North America have been prophesied to offer opportunities while riding on the increasing cases of cardiac diseases and rising obesity and sedentary lifestyle.

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About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.