Heart Block Therapeutics Market Size to Witness an Uptick Size US$ 4.8 Bn by the end of 2032 | CAGR of 4.3% – By FMI
[250 Pages Report] In 2021, the Heart Block Therapeutics Market was estimated to be worth around US$ 3 Bn. With the increasing expenditure incurred on Heart Block Therapeutics worldwide, the market is expected to reach a worth of about US$ 4.8 Bn by the end of 2032, with a projected CAGR of 4.3% during 2022 – 2032. During 2015 to 2021, the Heart Block Therapeutics Market experienced a growth of 4.9%.
In recent years, one of the most rapidly increasing life threating diseases is coronary heart blockage. According to the World Health Organization (WHO), four out of five cardiovascular sickness deaths can be attributed to coronary heart attacks and strokes. Heart attack is considered to be one of the primary reasons for death across the globe.
According to the United Nations Department of Economic and Social Affairs, by 2050, the population of 60 years old and above is expected to reach 437 Mn in China, 324 Mn in India, 107 Mn in The US, and 58 Mn in Brazil. Hence, the growing older populace propels the worldwide Heart Block Therapeutics market as the older population is more prone to heart-related diseases. The World Health Organization (WHO) reported that around 524 Mn people represent the geriatric population in 2010 and by 2050, almost 2 Bn people will be geriatric.
Heart Block Treatment Devices Market is expanding with an expected CAGR of 4.3% in the next ten years. However, due to the huge costs involved in the Heart Block Therapeutics, and restrictions in the availability of advanced resources and technologies, the Heart Block Treatment Industry in various underdeveloped nations is still struggling to expand.
The developing aid infrastructure additionally as a genetic disease is also lifting the growth of heart block treatment market in the higher direction. Also, the rising prevalence of heart blockage cases additionally as increasing incidence of hypothyroidism, which frequently ends up in heart blocks is additionally one amongst the numerous factors supply growth of the Heart Block Therapeutics market.
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Which region has the largest market for Heart Block Therapeutics market?
North America leads the demand for Heart Block Therapeutics in terms of having the largest market for the Heart Block Therapeutics Market due to the increasing cases of cardiovascular diseases in the region. Around 805 thousand people in the US have heart attacks every year. The US spends more than US$ 320 Bn annually which is 15% of their total healthcare spending to manage and treat cardiovascular diseases and cardiovascular risk factors.
Recently, the U.S. Food and Drug Administration announced the approval of Farxiga (dapagliflozin) oral tablets for adults with heart failure with reduced ejection fraction to reduce the risk of cardiovascular death and hospitalization for heart failure. Farxiga in a clinical trial showed to improve survival of heart attack patients and reduce the need for hospitalization in adults with heart failure with reduced ejection fraction.
Key Companies Profiled
- Koninklijke Philips N.V.
- Bristol Myers Squibb
- Edward Lifesciences Corporation
- St. Jude Medical
- Natco Pharma
- Boston Scientific Corporation
- SORIN S.p.A
- BIOTRONIK SE & Co. KG
- Abbott Laboratories
- Novartis AG
- Pfizer Inc.
- Bayer AG
Which region is expected to see the significant growth in future for Heart Block Therapeutics Market?
Asia Pacific is the most optimistic market for Heart Block Treatment due to massive population with high unmet medical needs. Around 58% of the total number of heart attack deaths occur in Asia Pacific alone.
China and India have the most promising market for Heart Block Therapeutics. Besides, there have also been significant investments from the government to several large companies in the recent years.
The PEACE MPP is a government-funded public health programme which focuses on cardiovascular disease risk in China. Health Technology firm Abbott has two training centres in China to better serve the Chinese Cardiovascular Patients. Abbott has also made investments into clinical research that will help Chinese doctors complete their projects in the cardiovascular research. The Indian healthcare system has been using advanced technology and artificial intelligence to perform heart treatments. For instance, in India Medtronic launched the Arctic Front Cardiac Cryoablation Catheter System, a cryoballoon catheter approved by the Central Drugs Standard Control Organisation (CDSCO) for the treatment of atrial fibrillation (AF) in India.?
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Which country has the largest market for Heart Block Therapeutics?
The United States has the largest market for Heart Block Therapeutics, which is projected to reach a valuation of US$ 1.7 Bn by 2032. From 2015 to 2021, the market in the US grew at a CAGR of 4.7%. Between 2022 and 2032, the US is expected to be a market with a US$ 570.5 Mn absolute dollar opportunity for heart block treatment.
In 2015, The American Heart Association invested US$ 3.9 Bn for advanced research in Heart Block Therapeutics. The United States Centres with WHO launched the Global Hearts Initiative in September 2016, which includes the Heart technical package. The package has six modules including healthy-lifestyle counselling, evidence-based treatment protocols, access to essential medicines and technology, risk-based management, team-based care, and systems for monitoring. It provides a strategic approach to improve cardiovascular health in U.S. as well as other countries across the world.
How is China competing with the US to become one of the largest markets for the Heart Block Therapeutics?
In 2021, China was the second-largest Heart Block Therapeutics Market after the US. The market in the country is expected to reach a valuation of US$ 344 Mn by 2032. In China, coronary bypass surgery, ONCAB, OPCAB, and heart valve replacement devices are all frequently used, resulting in significant growth in the cardiology market.
Heart disease-causing variables such as hypertension, diabetes, excessive alcohol use, cholesterol, and smoking are all on the rise in the region. Guidewires, catheters, radial closure devices, micro guidewires, and stent delivery catheters are among the most extensively used cardiology products in China. The country can additionally explore the Heart Block Therapeutics industry due to favourable government rules and policies.
Which Type of Heart Block Therapeutics is Generating Significant Revenue in the Market?
Growing incidence and prevalence rate of hypertension, high cholesterol, diabetes, smoking, obesity, unhealthy dietary plans and older population across the world, government initiatives to increase the awareness toward heart related diseases are the key driving factors in Heart Block Therapeutics Market.
Although one out of every five First Degree Heart blocks require serious medical help, treatment for First Degree Heart Blocks were the most demanded with a CAGR of 5% during 2015-2021. The market through this category is expected to remain the treatment service that will generate the most revenue for the market in the upcoming years with an expected CAGR of 4.4% by the end of 2032.
Why Pacemakers Represent Significant Revenue Potential for Heart Block Therapeutics Market?
The development of pacemakers and minimally invasive vessel treatment together are enhancing the growth of the market. Pacemakers are usually used in the treatment of second degree heart blocks and third degree heart blocks.
Globally, there are about 3 Mn people using pacemakers, and every year around 600 thousand pacemakers are implanted. Market revenue through pacemakers has witnessed a CAGR growth of 4.8% from 2015 to 2021, and the projected CAGR through this category is expected to be 4.2% by 2032.
At present, the Heart Block Therapeutics market is moderately competitive and has numerous players. There are only a few key players which dominate the market and have a much wider geographic presence and improved research and development resources ensuing in robust regulatory approvals.
The key companies operating in the Heart Block Therapeutics Market are St. Jude Medical, Medtronic, Bristol Myers Squibb, Novartis AG, Boston Scientific Corporation, SORIN S.p.A, BIOTRONIK SE & Co. KG, Edward Lifesciences Corporation, Abbott Laboratories, Natco Pharma, Pfizer Inc., Bayer AG, Janssen Pharmaceuticals, Inc., Astra Zeneca, Sanofi, Merck & Co., Inc., Gilead Sciences, Inc., F. Hoffmann-La Roche Ltd.
Some of the recent developments by the key providers of Heart Block Therapeutics are as follows:
- In April 2022, Bristol Myers Squibb announced that they have received approval from US Food and Drug Corporation for its oral heart disease drug Mavacamten which will help in treating hypertrophic cardiomyopathy, a genetic heart disease that leads to sudden cardiac arrests in young people.
- In June 2020, Edward Lifesciences Corporation (USA) confirmed that they have received Chinese approval for the SAPIEN 3 Trans catheter heart valve for the treatment of patients with severe and symptomatic aortic stenosis (AS) who are not able to undergo open-heart surgery.
- In September 2019, Medtronic (USA) Received US Food and Drug Corporation clearance for its Next Generation Evolut PRO+ TAVR System for the Treatment of Symptomatic Severe Aortic Stenosis in Patients. The Evolut PRO+ TAVR System includes four valve sizes with an external pericardial tissue wrap that provides advanced sealing for the largest indicated patient treatment range and the lowest delivery profile currently on the market.
- In March 2019, Abbott (USA) Received US Food and Drug Corporation Clearance Anthos Therapeutics for Cardiovascular Drug Development which focused on advancing next-generation targeted therapies for high-risk cardiovascular patients.
- In February 2019, Novartis AG and Blackstone’s Life sciences announced the launch of Anthos Therapeutics for the development of cardiovascular drugs. As part of this launch, Novartis has licensed to Anthos MAA868, an antibody directed at Factor XI and XIa, key components of the intrinsic coagulation pathway.
- In January 2019, India-based Natco Pharma announced the launch of valsartan sacubitril, a cardiovascular drug that is used to treat congestive heart failure in patients.
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Heart Block Therapeutics Market Report Scope
Historical Data Available for
US$ Million for Value
Key Countries Covered
United States, Canada, Brazil, Mexico, Germany, U.K., France, Spain, Italy, Russia, China, Japan, South Korea, India, Australia, South Africa, Saudi Arabia, UAE and Israel
Key Market Segments Covered
Type, Product, End User, Region
Key Segments Covered in Heart Block Therapeutics Market Survey
- First Degree Heart Blocks
- Second Degree Heart Blocks
- Third Degree Heart Blocks
- Transcutaneous pacing (TCP)
- Follow-up electrophysiology study
By End User:
- Hospital Testing
- Home Treatment
- North America
- Latin America
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