Hypertrophic Cardiomyopathy Therapeutics Market Latest Report with Forecast to 2023
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Global Hypertrophic Cardiomyopathy Therapeutics Market – Key Trends
With heart diseases emerging as one of the most common causes of mortality among men and women worldwide, Transparency Market Research (TMR) expects the demand for hypertrophic cardiomyopathy (HCM) therapeutics to surge considerably. Furthermore, the market is expected to gain significant impetus from successful government interventions aimed at spreading awareness about hypertrophic cardiomyopathy.
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TMR projects the global HCM therapeutics market to expand at a moderate 1.4% CAGR between 2015 and 2023. Despite witnessing positive opportunities, the rising demand for advanced medical devices could threaten the market’s growth to an extent. Nevertheless, since the majority of HCM drugs are yet to get approved, the hypertrophic cardiomyopathy therapeutics market is likely to gain momentum post their approval in the near future.
According to TMR, the global hypertrophic cardiomyopathy therapeutics market is expected to reach US$1.37 bn in 2023, from US$1.2 bn in 2015. The leading players in the market are likely to capitalize on the untapped opportunities in the healthcare sector of emerging economies to expand their footprint.
Rising Use of Calcium Channel Blockers Being Witnessed in Obstructive HCM Treatment
Antiarrhythmic drugs, anti-coagulating agents, calcium channel blockers, and beta blockers are the most recommended therapies for the treatment of HCM. By drug class, the calcium channel blockers segment held the leading share of 37.4% in the HCM therapeutics market in 2014. This drug provides an effective alternative to beta-blocker therapy particularly used in obstructive HCM treatment. As per TMR, the calcium channel blockers segment is expected to rise at a CAGR of 1.8% from 2015 to 2023.
The beta adrenergic blocking agents emerged as the second-largest segment in 2014. The most common beta adrenergic blocking agents preferred in HCM treatment include atenolol, metoprolol, propranolol, and sotalol.
Due to the increasing sedentary lifestyle and unhealthy choices, experts project the incidence of heart disease to rise considerably in the forthcoming years. This will subsequently boost demand for HCM therapeutics through the forecast period.
Rising Prevalence of Obesity to Fuel Demand for HCM Therapeutics in North America
North America, Europe, Asia Pacific, and Rest of the World constitute the key markets by geography for HCM therapeutics. Among these regions, with a share of 31.1%, North America emerged as the leading contributor to the market in 2014, followed by Europe. Both these regions boast a sophisticated healthcare infrastructure, which augurs well for the HCM therapeutics market.
The increasing prevalence of obesity among the younger population in North America and their preference towards a sedentary lifestyle, are primary factors augmenting demand for HCM therapeutics from the region. The rising cases of cardiac arrests reported every year in North America will seal the region’s dominance in the market through the forecast period. In North America, the U.S. reports the highest demand for HCM therapeutics.
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However, according to TMR, the market is expected to witness stronger growth across the emerging economies of Asia Pacific and Rest of the World. Asia Pacific is expected to report the fastest CAGR during the course of the forecast period. The development of modern healthcare facilities in the region, rising healthcare expenditure, and the increasing awareness about HCM, are primary factors fuelling demand for HCM therapeutics from Asia Pacific.
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