Cardiomyopathy Medication Market 2021 Study by Business Opportunities, Top manufacturers Records, Production, Revenue, Growth Rate, Price and Gross Margin, Showing Impressive Growth by 2030

In a recent published report, Kenneth Research has updated the market report for Cardiomyopathy Medication Market  for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.  

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cardiomyopathy Medication Market  products.  

Recently, a significant growth in healthcare spending have been observed in the low- and middle-income nations. In the middle-income nations, healthcare spending rose by 6.3% a year between 2000 and 2017, while the economy rose by 5.9% a year. Additionally, health spending in low-income countries also observed a growth by 7.8% a year in the same period. The growth in the healthcare spending of these nations can be attributed to the increasing focus of the governments in these nations to meet the laid down targets of the Sustainable Development Goals (SDGs) of 2030. Such factors are anticipated to drive the growth of the Cardiomyopathy Medication Market during the forecast period.

The Global Cardiomyopathy Medication Market is expected to grow from USD 562.4 million in 2018 to USD 620 million by 2025 at a CAGR of 4.6%.Cardiomyopathy medication is extensively used in North America and Europe and is fast becoming mainstream in Asia-Pacific.A growing geriatric population and changing lifestyle habits are contributing to the increased incidence of cardiomyopathy. It is the third major cause of heart failure in the US and affects five in 100,000 adults in the country.

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Market USP

Increase in number of cardiomyopathy cases and need for lifelong medication to manage the condition.

Market Drivers

Increased prevalence of hypertension, congenital heart abnormalities, and valve disease.

Rising incidence rate among the growing geriatric population .

Changes in lifestyle.

Lifelong medication required to manage the condition.

Preferred alternative to surgery

Recent product launches for treatment of hereditary transthyretin-mediated amyloidosis ATTR-CM. For instance, in May 2019, the US Food and Drug Administration (FDA) approved Vyndaqel (tafamidis meglumine) and Vyndamax (tafamidis) for the treatment of ATTR-CM.

Market Restraints

High costs of cardiomyopathy treatment. The cost can be as high as USD 225,000 per annum per person for uninsured patients.

Availability of alternative therapies and surgical options.

SEGMENTATION

By Type

Dilated Cardiomyopathy: The largest segment the causes of dilated cardiomyopathy vary from infections to genetic and birth disorders. As of June 2019, an estimated 750,000 people suffered from dilated cardiomyopathy in the US which contributes to the largest share of this segment. A large section of the geriatric population also has dilated cardiomyopathy, requiring prolonged use of medication, thereby driving market growth.Hypertrophic Cardiomyopathy: The fastest-growing segment. The growth of the segment is driven by the increasing prevalence of diabetes and thyroid diseases across the globe, which are the two main factors for this type of cardiomyopathy.

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Restrictive Cardiomyopathy: Weakening of the valves and valve damage cause restrictive cardiomyopathy. It is crucial to manage this condition with medication to avoid expensive surgeries. This segment shows growth potential due to the critical nature of the condition.Arrhythmogenic Right Ventricular Dysplasia: A relatively rare disorder affecting teens and young adults due to the formation of scar tissue and fatty deposits on the heart muscles; it is one of the leading causes of sudden cardiac arrests in the young section of the population. Lifelong medication is required to manage this condition, which is a driver for the growth of the segment.

Unclassified Cardiomyopathy: Cardiomyopathy due to other causes, is a niche market segment.

By Treatment

Anticoagulants: This type of medication is used widely for the treatment of cardiomyopathy.

Antiarrhythmics: This medication is used primarily for the treatment of hypertrophic cardiomyopathy.

Anti-Hypertensives: Used in conjunction with other drugs to treat cardiomyopathy, this medication is useful in regulating blood pressure. The segment holds the largest market share, by treatment, owing to the widespread use of anti-hypertensives in the treatment of all types of cardiomyopathy.

Cardiac Glycosides: These drugs strengthen the heart’s ability to pump blood by acting on the cellular sodium-potassium ATPase pump. Very useful for treating cardiomyopathy, especially arrhythmogenic right ventricular dysplasia.

Diuretics: Excellent for the treatment of restrictive cardiomyopathy, diuretics help in expelling excess water and salts from the body.

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By End User

Homecare: The fastest-growing segment due to the chronic nature of cardiomyopathy and the increasing number of elderly individuals who receive care at home. The growth of the segment can also be attributed to reduced treatment costs as well as the increasing access to medication.

Hospitals and Clinics: The largest segment, hospitals and clinics are still the primary points for the distribution of cardiomyopathy medication. The presence of several hospitals dedicated to cardiology is another factor driving the growth of the segment.

Others: Specialty clinics and ambulatory services are covered in this segment.

By Region

Americas: Presently the largest regional market, the prevalence of cardiomyopathy is increasing in the Americas due to a combination of a growing geriatric population, genetics, and environmental factors. Additionally, rising domestic treatment rates backed by reimbursement for drugs in the US are driving market growth in the region.

Europe: An emphasis on healthy lifestyles and careful medical monitoring ensure fewer cases of cardiomyopathy in Europe as compared to the Americas. However, the prevalence of the disease is rising in the region due to the presence of a large geriatric population.

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Asia-Pacific: The fastest-growing regional market owing to the increasing prevalence of conditions that lead to cardiomyopathy such as hypertension and congenital heart disorders. Expansion of cardiomyopathy medication manufacturers in the region and frequent product launches are likely to bolster market growth in the coming years.

Middle East & Africa: The population in the Middle East & Africa is genetically predisposed to heart disease, including cardiomyopathy, which is driving the growth of the market.

Key Players

Pfizer Inc.

PhaseBio Pharmaceuticals, Inc.

Array Biopharma, Inc.

AstraZeneca

Sanofi-Aventis US LLC

Hoffmann-La Roche Ltd

Merck & Co., Inc.

Capricor Therapeutics

MyoKardia

Janssen Products, LP

Ionis Pharmaceuticals, Inc.

Medtronic

Becton And Dickson & Co.

Biomerieux

Teva Pharmaceutical Industries Ltd

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Christophe Rude
Christophe Rude
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