Heart Block Therapeutics Market is expected to grow at a 4.3% annual rate, reaching a value of US$ 4.8 Bn by 2032
The global Heart Block Therapeutics Market was valued at US$ 3 billion in 2021 and is expected to reach US$ 4.8 billion by 2032, according to a recent market survey conducted by Future Market Insights (FMI). Pacemakers will be in high demand in the market, according to the report’s findings, because they will generate the majority of revenue. Pacemaker revenue increased at a CAGR of 4.8% between 2015 and 2021.
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Older Populace Swells Worldwide, Propels the Global Demand for Heart Block Therapeutics
The population of people aged 60 and up is expected to reach 437 million in China, 324 million in India, 107 million in the United States, and 58 million in Brazil by 2050, according to the United Nations Department of Economic and Social Affairs. As a result, as the elderly are more susceptible to heart-related diseases, the global Heart Block Therapeutics market is on the rise. The World Health Organization (WHO) estimates that approximately 524 million people were classified as geriatric in 2010, and that nearly 2 billion people will be classified as geriatric by 2050.
The US Continues Being the Largest Revenue Stream for Heart Block Therapeutics Market
In the United States, the market for heart block therapeutics is expected to reach $1.7 billion by 2032. Market revenue in the United States increased at a CAGR of 4.7% from 2015 to 2021, and it is expected to grow at a CAGR of 4.1% between 2022 and 2032. The combination of innovative treatment technology, digital solution adoption, and shifting provider and care delivery shifts provides tremendous growth potential for the Heart Block Therapeutics Industry in the United States. Between 2022 and 2032, the US is expected to be a market with a US$ 570.5 Mn absolute dollar opportunity.
“Introduction of artificial intelligence technology in the Heart Blockage surgeries will be the biggest step towards increasing the revenue growth of Heart Block Therapeutics Market” comments an analyst at Future Market Insights.
Heart Block Therapeutics Market: Competition Insights
The key companies dominating the Heart Block Therapeutics Market are St. Jude Medical, Medtronic, Bristol Myers Squibb, Novartis AG, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Edward Lifesciences Corporation, Abbott Laboratories, Natco Pharma, Pfizer Inc., Bayer AG, Astra Zeneca, Sanofi, Merck & Co., Inc., Gilead Sciences, Inc., F. Hoffmann-La Roche Ltd.
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Some of the recent developments by the key providers of Heart Block Therapeutics are as follows:
- Bristol Myers Squibb announced in April 2022 that it had received FDA approval for its oral heart disease drug Mavacamten, which will aid in the treatment of hypertrophic cardiomyopathy, a genetic heart disease that causes sudden cardiac arrests in young people.
- Edward Lifesciences Corporation (USA) confirmed in June 2020 that the SAPIEN 3 Trans catheter heart valve has received Chinese approval for the treatment of patients with severe and symptomatic aortic stenosis (AS) who are unable to undergo open-heart surgery.
- Medtronic (USA) received US Food and Drug Administration clearance in September 2019 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 as well as an external pericardial tissue wrap that provides advanced sealing for the widest indicated patient treatment range and lowest delivery profile currently available on the market.
- Abbott (USA) received US Food and Drug Administration clearance for Anthos Therapeutics for Cardiovascular Drug Development in March 2019, with the goal of advancing next-generation targeted therapies for high-risk cardiovascular patients.
- Novartis AG and Blackstone’s Life Sciences announced the formation of Anthos Therapeutics in February 2019 to develop cardiovascular drugs. Novartis has licenced to Anthos MAA868, an antibody directed at Factor XI and XIa, key components of the intrinsic coagulation pathway, as part of this launch.
- Natco Pharma, based in India, announced the launch of valsartan sacubitril, a cardiovascular drug used to treat congestive heart failure in patients, in January 2019.
More Insights Available
Future Market Insights presents an unbiased analysis of the Heart Block Therapeutics Market in its new offering, presenting historical market data (2017-2021) and forecast statistics for the period 2022-2032.
The study reveals significant growth in the Heart Block Therapeutics Market across five regions in terms of Type (First-degree Heart Blocks, Second-degree Heart Blocks, Third-degree Heart Blocks); Product (Transcutaneous Pacing, Pacemaker, Mediation, Follow-up Electrophysiology Study); and End User (Hospital Testing, Home Treatment, Clinics, Others) (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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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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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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