Newark, New Castle, USA, June 22, 2023 (GLOBE NEWSWIRE) -- Growth Plus Reports estimated the size of the global market for hypertrophic cardiomyopathy in 2022 to be worth US$ 1.12 billion, and it is expected that it will increase at a revenue CAGR of 2.1% to reach US$ 1.35 billion by 2031.
The global market for hypertrophic cardiomyopathy was analyzed and is expected to rise significantly in terms of revenue share during the forecast period. The disorder known as HCM (hypertrophic cardiomyopathy) causes the heart muscle to thicken. The heart's ability to pump blood is hampered by the thickening of the heart muscle. Because hypertrophic cardiomyopathy has few symptoms, many sufferers go undiagnosed.
Key Takeaways:
- The increasing number of patients with obesity and lifestyle disorders is driving the market revenue share.
- The rising prevalence of heart disease is driving the market demand.
- The market revenue is expected to grow significantly due to the increase in R&D for treatment-related pharmaceuticals.
Recent Development in the Hypertrophic Cardiomyopathy Market:
- In April 2022, The FDA approved the use of mavacampten (Camzyos), manufactured by Bristol-Myers Squibb, to treat class 2-3 obstructive hypertrophic cardiomyopathy. The first and only approved treatment for hypertrophic cardiomyopathy is this drug.
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Hypertrophic Cardiomyopathy Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 1.12 billion |
| Revenue Forecast in 2031 | US$ 1.35 billion |
| CAGR | 2.1% |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Type, End User, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Competitive Landscape
A list of the prominent players operating in the global market for hypertrophic cardiomyopathy includes:
- Pfizer Inc
- Teva Pharmaceutical Industries Ltd.
- Merck & Co., Inc.
- Sanofi S.A.
- Astra Zeneca Plc
Market Drivers and Restraints:
The global hypertrophic cardiomyopathy market revenue is driven by the advanced diagnostic tools and treatments for HCM, such as genetic testing, echocardiography, and surgical interventions, which also have significantly improved patient outcomes. Furthermore, the increasing prevalence of heart disease, obesity, and lifestyle disorders.
However, due to inaccessibility, high expense, and an increase in non-product recalls of beneficial treatments, the hypertrophic cardiomyopathy market revenue growth is expected to be restrained.
Market Segmentation:
Segmentation By Disease Type
Based on the disease type, the obstructive hypertrophic cardiomyopathy segment dominates the global hypertrophic cardiomyopathy market with the largest revenue share. This large revenue share of this segment is because it is the most common type of hereditary cardiomyopathy.
Segmentation By Drug Class
Based on the drug class, the beta-adrenergic blocking agent segment dominates the global hypertrophic cardiomyopathy market with the largest revenue share. The significant revenue share is due to studies that suggest that beta-adrenergic blockers lower blood pressure, heart rate, and cardiac contraction by preventing catecholamines from binding to receptor sites.
Segmentation By End User
Based on end-user, the hospital segment accounts for the highest revenue share in the global hypertrophic cardiomyopathy market due to the existence of several cardiac centers and major distributors of these medications together in the hospitals.
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Regional Growth Dynamics
Based on the region, North America, with the largest revenue share, dominates the global hypertrophic cardiomyopathy market. This large revenue share is attributed to the rising incidence of infectious and noncommunicable diseases, greater research and development, and rising healthcare costs. Additionally, the US market for syndromic multiplex diagnostics is primarily driven by the country's growing elderly population.
Report Coverage
Growth Plus Reports conducted a thorough analysis of the global market for hypertrophic cardiomyopathy. We looked at the basic market traits, important investment spheres, regional growth analytics, revenue projections, rival market participants, and mergers and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- Reimbursement Scenario
- Epidemiology and Patient Population Forecast to 2031
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL HYPERTROPHIC CARDIOMYOPATHY MARKET- ANALYSIS & FORECAST, BY DISEASE TYPE
- Obstructive Hypertrophic Cardiomyopathy
- Nonobstructive Hypertrophic Cardiomyopathy
- GLOBAL HYPERTROPHIC CARDIOMYOPATHY MARKET- ANALYSIS & FORECAST, BY DRUG CLASS
- Antiarrhythmic Agents
- Anticoagulants
- Beta-Adrenergic Blocking Agents
- Calcium Channel Blockers
- Others
- GLOBAL HYPERTROPHIC CARDIOMYOPATHY MARKET- ANALYSIS & FORECAST, BY END USER
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
HYPERTROPHIC CARDIOMYOPATHY MARKET TOC
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