Hypertrophic Cardiomyopathy Market
Number of pages: 100 | Report Format: PDF | Published date: April 27, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 1.12 billion |
|
Revenue Forecast in 2031 |
US$ 1.35 billion |
|
CAGR |
2.1% |
|
Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Type, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global hypertrophic cardiomyopathy market was valued at US$ 1.12 billion in 2022 and is expected to register a revenue CAGR of 2.1% to reach US$ 1.35 billion by 2031.
Hypertrophic Cardiomyopathy Market Fundamentals
HCM (hypertrophic cardiomyopathy) is a condition in which the heart muscle thickens (hypertrophies). The thickening heart muscle makes it hard for the heart to pump blood. Many people with hypertrophic cardiomyopathy go undetected because they have few symptoms. However, in a small percentage of HCM patients, the thicker heart muscle can cause shortness of breath, chest discomfort, or alterations in the heart's electrical system, leading to life-threatening irregular heart rhythms (arrhythmias) or sudden death. HCM is classified into two types, i.e., obstructive, which is the most frequent kind, and hypertrophic obstructive cardiomyopathy (HOCM), which causes the septum (the wall between the left and right ventricles) to thicken. This may block blood flow from the left ventricle to the aorta (the body's major artery). Nonobstructive, in which the cardiac muscle swells but does not impede blood flow in nonobstructive HCM.
There is no treatment for HCM, but regular monitoring can detect issues before they affect health. Appropriate therapy can help you feel better and keep issues at home. Treatment for HCM symptoms frequently focuses on cardiac protection. Some drugs can help the heart pump more efficiently. Treatment options for advanced instances may include alcohol septal ablation, catheter ablation, coronary artery bypass grafting (CABG) surgery, and heart transplantation with a deceased donor's heart.
With a frequency of 1 in 500, hypertrophic cardiomyopathy is the most prevalent hereditary heart disease in the United States. Patients with obstruction benefit from medical therapy based on guidelines, such as beta-blockers, calcium channel blockers, and disopyramide, as well as novel medical medicines now being studied in clinical studies.
Despite advances in HCM diagnosis and therapy modalities, discrepancies persist within various demographic groups. Further research on mortality patterns is required to understand the inequities in HCM better to improve screening, diagnosis, and disease treatment. However, clinical researchers continue to be interested in this disease. Knowledge in this sector is continually improving as international collaboration is being strengthened. The United States is a world leader in this market, evidenced by its numerous exceptional scientific research institutes and important academics, worldwide collaboration efforts, and the greatest number of significant scientific breakthroughs. According to an analysis of recent development trends, research interest in this field primarily focuses on diagnostic technology (such as genetic testing and cardiac imaging examination), risk of major adverse cardiac events prevention and prognosis evaluation, and novel treatment methods.
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Hypertrophic Cardiomyopathy Market Dynamics
The market is largely driven by the global obesity epidemic and the population's sedentary lifestyle. For instance, according to World Health Organization (WHO) data released in June 2021, obesity has surged internationally and quadrupled in the last two decades. Furthermore, the World Population Review's survey "Obesity Rates by Country 2022" results suggest that globally, around 13% of people are obese, and approximately 39% of adults are overweight. Overweight patients were associated with more heart failure (HF) rehospitalization in HCM patients, according to the article "Clinical Significance of Overweight in Patients with Hypertrophic Cardiomyopathy," published in October 2021, and being overweight was an independent determinant of major adverse cardiovascular and cerebral events (MACCE) in HCM patients. As a result, the prevalence of obesity and overweight, as well as the danger of heart failure in hypertrophic cardiomyopathy (HCM) patients with obesity, necessitates the availability of medications for therapy. As a result, the market is growing.
The primary variables influencing the market include an increase in the number of people suffering from heart disease, one of the leading causes of mortality worldwide, which would assist the industry is thriving. The increased awareness initiatives by various organizations on the disease's lethality will drive the hypertrophic cardiomyopathy therapeutics business throughout the predicted period. The increase in R&D of the medications used for treatment is expected to help the sector thrive. Product introductions in the future are projected to assist the market growth in the coming years. However, tight regulations may stifle industry expansion in the next years.
Furthermore, according to statistics updated by the "National Library of Medicine" for "Hypertrophic Cardiomyopathy" in June 2022, the prevalence of HCM in the general population worldwide is 0.2%, as established by echocardiographic examinations. According to the same source, morphologic evidence is observed in around 25% of first-degree relatives of HCM patients. As a result of the disease's significant burden, medications for treatment and patient survival are required. As a result, it is likely to drive market expansion throughout the forecast period.
However, market revenue growth is likely to be impeded by the inaccessibility and cost of effective therapies and a rise in product recalls. The hypertrophic cardiomyopathy therapy market will likely experience challenges during the projected period due to a shortage of educated professionals. Furthermore, lack of awareness and delayed diagnosis will hinder market revenue growth throughout the projection period.
Hypertrophic Cardiomyopathy Market Ecosystem
The global hypertrophic cardiomyopathy market is analyzed from the following perspectives by disease type, drug class, end user, and region.
Hypertrophic Cardiomyopathy Market by Disease Type
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Based on disease type, the global hypertrophic cardiomyopathy market is segmented into obstructive and nonobstructive hypertrophic cardiomyopathy.
The obstructive hypertrophic cardiomyopathy segment showed significant growth during the forecast period. It is the most common type of hereditary cardiomyopathy. It can also arise in people with no family history due to de novo mutations. HOCM is caused by a mutation in one of the nine sarcomere proteins, such as B-myosin heavy chain, troponin, actin, or titin. The mutations produce structural changes in myofibrils and myocytes, which can lead to aberrant force production and conduction issues.
Hypertrophic Cardiomyopathy Market by Drug Class
Based on drug class, the global hypertrophic cardiomyopathy market is segmented into antiarrhythmic agents, anticoagulants, beta-adrenergic blocking agents, calcium channel blockers, and others.
The beta-adrenergic blocking agents segment will likely dominate the market during the forecast period. According to many studies, beta-adrenergic blockers prohibit catecholamines from binding to receptor sites, reducing heart rate, cardiac contraction, and blood pressure. This depicts how beta-adrenergic blockers affect the heart, lungs, and blood vessels. Furthermore, despite a lack of trial data, beta-blockers have long been recognized as a first-line treatment for HCM, according to the study "Beta-Blockers and Exercise Hemodynamics in Hypertrophic Cardiomyopathy," published in April 2022. As a result, using beta-adrenergic blocking agents, also known as beta-blockers, for treating HCM is predicted to improve sector growth. Furthermore, current advancements and clinical studies in the industry have lately increased. In August 2022, for instance, a clinical trial titled "A Prospective Registry Study to Assess Real-world Patient Characteristics, Treatment Patterns, and Longitudinal Outcomes in Patients Receiving Mavacamten and Other Treatments for Symptomatic Obstructive Hypertrophic Cardiomyopathy (Obstructive HCM) (DISCOVER-HCM)" was registered to evaluate the safety of mavacamten in patients with symptomatic obstructive.
Hypertrophic Cardiomyopathy Market by End User
Based on end user, the global hypertrophic cardiomyopathy market is segmented into hospitals, clinics, ambulatory surgical centers, and others.
The hospital segment is likely to dominate the market during the forecast period. Hospitals continue to be the key distributors of these medicines. Another aspect boosting the segment's growth is the existence of multiple cardiac facilities to treat the disease.
Hypertrophic Cardiomyopathy Market by Region
Based on region, the global hypertrophic cardiomyopathy market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America will expand and dominate the market throughout the forecast period. The United States leads the market due to increased healthcare expenditure, increased research and development, and rising incidence of infectious and noncommunicable illnesses. Furthermore, the growing elderly population in the United States is the key driver of the syndromic multiplex diagnostic market in the United States. For instance, according to the data submitted in the article "Stable Rates of Obstructive Hypertrophic Cardiomyopathy in a Contemporary Era," published in January 2022, hypertrophic cardiomyopathy is the most common type of inherited hereditary heart disease. The prevalence of HCM in the United States is estimated to be 1 in 500 people, even though a significant portion of patients go undiagnosed. As a result of the disease's significant burden, medications for treatment and patient survival are required. As a result, it is likely to drive the region's market expansion throughout the projection period.
Furthermore, market development activities such as new launches, acquisitions, mergers, and investments are predicted to boost market growth. MyoKardia, Inc., for example, registered a Clinical Study to Evaluate Mavacamten (MYK-461) in Adults with Symptomatic Obstructive Hypertrophic Cardiomyopathy (EXPLORER-HCM) in October 2021. The Asia Pacific hypertrophic cardiomyopathy (HCM) therapeutics market is expected to grow at a healthy CAGR during the forecast period, owing to rising healthcare expenditure in developing countries.
Hypertrophic Cardiomyopathy Competitive Landscape
The leading market players are emphasizing partnerships to grow their product portfolio and gauge market attention, thus obtaining the maximum share, which is expected to propel the market throughout the projected period. AstraZeneca, for instance, is a global science-led biopharmaceutical company focusing on discovering, developing, and commercializing prescription medicines. A few prominent market players in global hypertrophic cardiomyopathy include:
Hypertrophic Cardiomyopathy Strategic Developments
HCM (hypertrophic cardiomyopathy) is a condition in which the heart muscle thickens (hypertrophies). The thickening heart muscle might make the heart work harder to pump blood. Many people with hypertrophic cardiomyopathy go undetected because they have few symptoms.
Asia Pacific is the key growth region in the global hypertrophic cardiomyopathy market.
The estimated market size of the hypertrophic cardiomyopathy market in 2031 will be 1.35 billion.
The revenue CAGR of the hypertrophic cardiomyopathy market during the forecast period will be 2.1%.
Some prominent market players in global hypertrophic cardiomyopathy include Sanofi S.A., Astra Zeneca Plc, and Pfizer Inc.
*Insights on financial performance are subject to the availability of information in the public domain