Restrictive Cardiomyopathy Treatment Market is expected to reach US$ 179.08 Million by 2033
The global restrictive cardiomyopathy treatment market is expected to garner a market value of US$ 100 Million in 2023 and is expected to accumulate a market value of US$ 179.08 Million by registering a CAGR of 6% in the forecast period 2023 to 2033. The market for Restrictive Cardiomyopathy Treatment registered a CAGR of 4% in the historical period 2018 to 2022.
The increasing prevalence of heart failures is a major factor driving the market. According to the American Heart Association, around 5.3 million Americans have congestive heart failure within an incidence of 660,000 cases diagnosed yearly this signifies potential of the market. North America is anticipated to acquire a market share of about 25% in the forecast period. This growth is attributable to the rising prevalence of the condition in the region. Furthermore, due to the presence of leading technological advancements in the healthcare sector and healthcare facilities with the advancements in technology, efficient treatments are being introduced.
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Furthermore, various start-ups are launching various ways to treat this rare condition. One such start-up is Impulse Dynamics, which is focussed on developing solutions for the treatment of Chronic Heart Failure. They have developed Optimizer IV, a minimally invasive implantable device based on novel Cardiac Contractility Modulation (CCM) technology, and delivers non-excitatory electric pulses. The Optimizer CE is FDA approved.
Key Takeaways from the Market Study
- From 2017 to 2022, the Restrictive Cardiomyopathy Treatment market grew at a CAGR of 4%.
- The global Restrictive Cardiomyopathy Treatment market is expected to grow with a 6% CAGR during 2023 to 2033.
- As of 2033, the Restrictive Cardiomyopathy Treatment Market is expected to reach US$ 179.08 Million
- According to the FMI analysis, hospitals account for the largest market share.
- North America is expected to possess 25% market share for the Restrictive Cardiomyopathy Treatment market.
- The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a CAGR of 5% during the forecast period.
“As cardiac ailments continue to prevail, scope for restrictive cardiomyopathy treatment is inclining. Vendors are focusing on new product developments and R&D to bring about more robust treatment approaches,” says an FMI analyst.
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Key players in the Restrictive Cardiomyopathy Treatment market are Array BioPharma, Vericel Corporation, PhaseBio Pharmaceuticals, Pfizer Inc., GlaxoSmithKline plc, Johnson and Johnson, Merck & Co., Inc, Teva Pharmaceuticals, Astrazeneca plc and Sanofi.
- In April 2022, Bristol Myers Squibb announced that the U.S. Food and Drug Administration (FDA) approved Camzyos (mavacamten, 2.5 mg, 5 mg, 10 mg, 15 mg capsules) for the treatment of adults with symptomatic New York Heart Association (NYHA) class II-III obstructive hypertrophic cardiomyopathy (obstructive HCM) to improve functional capacity and symptoms. Camzyos is the first and only FDA-approved allosteric and reversible inhibitor selective for cardiac myosin that targets the underlying pathophysiology of obstructive HCM.
Key Segments Profiled in the Restrictive Cardiomyopathy Treatment Industry Survey
- Dilated Cardiomyopathy
- Hypertrophic Cardiomyopathy
- Restrictive Cardiomyopathy
- Unclassified Cardiomyopathy
- Cardiac Glycosides
By End User:
- Hospitals and Clinics
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