Boost In Research Activities To Increase Growth In Global Hypertrophic Cardiomyopathy (HCM) Therapeutics Market 2020 – Industry Size, Share, Trends, Business Opportunities, Insights and Forecast By 2026
SEATTLE, March 31, 2021, (PHARMIWEB) — Global Hypertrophic Cardiomyopathy Therapeutics Market
Hypertrophic Cardiomyopathy (HCM) is a genetic condition of the heart muscles associated with the thickened heart muscle wall. HCM is caused due to the changes or mutation in one or more genes, which is inherited. Hypertrophic cardiomyopathy affects the muscular wall of heart making them stiff. This thickening makes harder for the heart to pump blood out of the heart and around the body. Shortness of breath, palpitations, chest pain, and fainting & light headaches are some of the major symptoms of hypertrophic cardiomyopathy. In some people, a number of other associated conditions may develop as a result of HCM, which includes abnormal heart rhythms or arrhythmias, including heart block, and endocarditis.
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Global Hypertrophic Cardiomyopathy (HCM) Therapeutics Market Insights
The demand for Hypertrophic Cardiomyopathy (HCM) therapeutics is expected to grow significantly over the forecast period, owing to the increasing prevalence of hypertrophic cardiomyopathy worldwide. According to a report released by the American Heart Association (AHA), in March 2016, hypertrophic cardiomyopathy affects around 500,000 people in the U.S. annually. Furthermore, in July 2014, the European Heart Journal reported that HCM occurs in at least one of every 500 people worldwide, of which around 700,000 were reported to Americans. Moreover, around 2 million people in India and China are affected with hypertrophic cardiomyopathy each year.
Growing number of research studies in the field of hypertrophic cardiomyopathy treatment by private and government organizations lead to develop an efficient treatment option such as calcium channel blockers and antiarrhythmic agent, enabling significant traction in these market. For instance, in May 2018, MyoKardia, Inc. initiated the PIONEER open-label extension (OLE) study of its investigational drug: mavacamten, to be used in symptomatic, obstructive hypertrophic cardiomyopathy. Furthermore, a study published in Journal of General Physiology in May 2018, stated that, researchers from Washington State University discovered link between genetic mutation to hypertrophic cardiomyopathy (HCM) and mode of disrupting the heart’s normal function.
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However, high treatment costs of hypertrophic cardiomyopathy, especially in the emerging economies, is majorly restraining the growth of the global market. In the developing countries, such as China and India, lack of private or governmental medical insurance programmes create major healthcare delivery barrier for cardiac patients who requires longitudinal care and expensive technology such as open heart surgery and implantable Cardioverter Defibrillators (ICDs). As per the European Heart Journal released in July 2014, around 70% of ICDs cost in India are paid directly by patients and families and remaining 20% are under state governmental programmes and 10% are covered by private insurance, including employer-sponsored plans.
Global Hypertrophic Cardiomyopathy (HCM) Therapeutics Market – Regional Analysis
North America is projected to drive growth of the Hypertrophic Cardiomyopathy (HCM) therapeutics market, owing to increasing prevalence of obesity among the younger population in North America and increasing preference towards a sedentary lifestyle, which are the primary factors augmenting demand for hypertrophic cardiomyopathy therapeutics in these region.
Europe is expected to gain a significant traction over the forecast period, owing to the considerable presence of Hypertrophic Cardiomyopathy (HCM) and increasing number of obese patient in these region. For instance, according to the European Cardiovascular Disease Statistics 2017, the obesity rates are high across the both Europe and EU, including the both adults and children, in 2017. Furthermore, prevalence of diabetes in Europe is high and rapidly increasing. According to the same report, it is found that, EU spends around US$ 251.5 billion in 2017, on cardiovascular disease.
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Global Hypertrophic Cardiomyopathy (HCM) Therapeutics Market -Competitive Landscape
The most prominent players operating in the global HCM therapeutics market include Sanofi S.A., Merck & Co., Pfizer, Inc., Mylan N. V., MyoKardia, Inc., Teva Pharmaceutical Industries Ltd., and Novartis AG.
These market contenders are said to be focusing on the adoption of various organic growth strategies, such as collaborations and attaining regulatory product approvals, in order to gain the maximum market share and retain their leading positions in the global market. For instance, in September 2014, Sanofi S.A. and MyoKardia, Inc. collaborated to discover and develop targeted therapeutics for genetic heart diseases such as Hypertrophic Cardiomyopathy, Cardiomyopathy and Dilated Cardiomyopathy (DCM). In May 2016, U.S. Food and Drug Administration (FDA) granted MyoKardia’s novel drug: MYK-461; as an orphan drug designation for treatment of symptomatic obstructive hypertrophic cardiomyopathy. The drug MYK-461 is the first therapy developed to treat hypertrophic cardiomyopathy.
By Disease Type,
- Obstructive Hypertrophic Cardiomyopathy
- Non-obstructive Hypertrophic Cardiomyopathy
By Drug Class,
- Calcium Channel Blockers
- Antiarrhythmic Agents
- Beta-Adrenergic Blocking Agents
By End User,
- Ambulatory Surgical Centers
- Academic and Research Organizations
- North America
- Latin America
- Asia Pacific
- Middle East
Table of Content
Global Hypertrophic Cardiomyopathy (HCM) Therapeutics Market Research Report
Section 1: Global Hypertrophic Cardiomyopathy (HCM) Therapeutics Industry Overview
Section 2: Global Economic Impact on Hypertrophic Cardiomyopathy (HCM) Therapeutics Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Hypertrophic Cardiomyopathy (HCM) Therapeutics Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Hypertrophic Cardiomyopathy (HCM) Therapeutics Market Forecast
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