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Hypertrophic Cardiomyopathy (HCM) Therapeutics Global Market Report 2023
Major players in the hypertrophic cardiomyopathy (HCM) therapeutics market are Merck & Co. Inc, Pfizer Inc, Sanofi S.A., Teva Pharmaceutical Industries Ltd, Novartis AG, Astra Zeneca Plc, Gilead Sciences Inc, Bayer AG, Correvio Pharma Corp, Abbott Laboratories Inc, Advanz Pharma Corp, Lupin limited, Myokardia Inc, Boston Scientific Corporation, Bristol Myers Squibb, Johnson & Johnson, and Medtronic Plc.
New York, June 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hypertrophic Cardiomyopathy (HCM) Therapeutics Global Market Report 2023" - https://www.reportlinker.com/p06466438/?utm_source=GNW
The global hypertrophic cardiomyopathy (HCM) therapeutics market is expected to grow from $1.26 billion in 2022 to $1.30 billion in 2023 at a compound annual growth rate (CAGR) of 3.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hypertrophic cardiomyopathy (HCM) therapeutics market is expected to reach $1.43 billion in 2027 at a CAGR of 2.4%.
The hypertrophic cardiomyopathy (HCM) therapeutics market consists of revenues earned by entities by providing progressive disease management, physical therapy (PT), occupational therapy.The market value includes the value of related goods sold by the service provider or included within the service offering.
The hypertrophic cardiomyopathy (HCM) therapeutics market also consists of sales of disopyramide, wearable heart monitoring devices and cardiac rhythm management (CRM) devices which are used in providing hypertrophic cardiomyopathy (HCM) therapeutics services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Hypertrophic cardiomyopathy (HCM) therapeutics refers to a treatment of a condition in which the heart muscle becomes abnormally thick or hypertrophied.The thickening heart muscle makes the heart ineffective at pumping blood.
Hypertrophic cardiomyopathy (HCM) therapeutics aim to reduce symptoms and guard against sudden cardiac death in high-risk patients.
North America was the largest region in the hypertrophic cardiomyopathy (HCM) therapeutics market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in hypertrophic cardiomyopathy (HCM) therapeutics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main drug types of hypertrophic cardiomyopathy (HCM) therapeutics are antiarrhythmic agents, anticoagulants, beta-adrenergic blocking agents, calcium channel blockers and others.Antiarrhythmic agents are medications used to treat abnormal heart rhythms, or arrhythmias.
The device types involved are defibrillators, pacemakers and others that are used in hospitals and clinics.
Increasing incidence of cardiovascular diseases (CVD) is expected to propel the growth of the hypertrophic cardiomyopathy (HCM) therapeutics market.Cardiovascular disease (CVD) is a condition that affects the heart or blood vessels.
Cardiovascular diseases include heart irregularities such as atrial fibrillation, ventricular fibrillation, and atrioventricular block that require long-term monitoring.The primary need for therapeutics treatment for hypertrophic cardiomyopathy aims to alleviate symptoms and avoid sudden cardiac death in high-risk patients.
For instance, according to the October 2022 report of the Center For Disease Control and Prevention (CDCP), a US-based national public health agency, in the United States, one person dies from cardiovascular disease every 36 seconds, and CVD is responsible for nearly 836,546 deaths in the United States alone in 2021.In 2020, approximately 697,000 people in the United States died from heart disease, with adults under the age of 65 accounting for roughly two-tenths of all CAD deaths.
Therefore, the increasing incidence of cardiovascular diseases (CVD) drives the hypertrophic cardiomyopathy (HCM) therapeutics market.
Product innovations are the key trend gaining popularity in the hypertrophic cardiomyopathy (HCM) therapeutics market.Major companies operating in the cardiomyopathy therapeutics sector are focused on developing new innovative products to strengthen their position in the market.
For instance, in April 2022, Bristol Myers Squibb, a US-based biopharmaceutical company, launched Camzyos (mavacamten), an oral small-molecule cardiac myosin inhibitor for the treatment of hypertrophic cardiomyopathy (HCM) and diseases of heart diastolic dysfunction.Camzyos (mavacamten) was approved by the US Food and Drug Administration (FDA) for the treatment of adults with symptomatic 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 of cardiac myosin that targets the underlying pathophysiology of obstructive HCM. Camzyos controls the number of myosin heads that can enter "on actin" (power-generating) states.
In May 2020, Bristol Myers Squibb, a US-based pharmaceutical company acquired Myokardia for $13.1 billion. Through this acquisition, Bristol-Myers Squibb gains Mavacamten, a potential first-in-class cardiovascular medicine from Myokardia for the treatment of obstructive hypertrophic cardiomyopathy (HCM). Further, Bristol-Myers Squibb intends to examine the full potential of Mavacamten in additional indications, including non-obstructive HCM, as well as develop MyoKardia’s promising pipeline of novel compounds, which includes two clinical-stage therapeutics for cardiovascular diseases, Danicamtiv (formerly MYK-491) and MYK-224. Myokardia is a US-based clinical-stage biopharmaceutical company discovering and developing targeted therapies for the treatment of serious cardiovascular diseases.
The countries covered in the hypertrophic cardiomyopathy (HCM) therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The hypertrophic cardiomyopathy (HCM) therapeutics market research report is one of a series of new reports that provides hypertrophic cardiomyopathy (HCM) therapeutics market statistics, including hypertrophic cardiomyopathy (HCM) therapeutics industry global market size, regional shares, competitors with hypertrophic cardiomyopathy (HCM) therapeutics market share, detailed hypertrophic cardiomyopathy (HCM) therapeutics market segments, market trends, and opportunities, and any further data you may need to thrive in the hypertrophic cardiomyopathy (HCM) therapeutics industry. This hypertrophic cardiomyopathy (HCM) therapeutics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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