The global hypertrophic cardiomyopathy (HCM) therapeutics market is dominated by companies exhibiting high sales. HOWEVER, generic manufacturers are making Their presence felt in the market Gradually. As per Transparency Market Research (TMR), the top three companies in the market, Sanofi SA, Pfizer, Inc., and Merck & Co., Accounted for a share of over 64.5%, Which points toward a highly consolidated vendor landscape.
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Intense competition exists among the top companies in the market. These enterprises are Mainly focusing on expanding and Differentiating Their product portfolio to enjoy sustainable growth.
Demand for HCM Therapeutics Surges due to Increasing Incidence of Congestive Heart Failure
„The prevalence of chronic cardiovascular ailments is fueling demand for effective treatment, Which has been translating into lucrative sales opportunities for hypertrophic cardiomyopathy therapeutics,“ Said a lead analyst TMR. Heart diseases make one of the most common causes of death in Both men and women around the world. .According To TMR, the rising incidence of congestive heart failure considerably fuels demand for effective medications. This Creates attractive opportunities for sales of hypertrophic cardiomyopathy therapeutics.
„Besides this, successful interventions Conducted across Several countries to spread awareness about hypertrophic cardiomyopathy havealso aided the expansion of the HCM therapeutics market,“ Said The TMR analyst. Further More, patients are now more aware about the latest medical advances, Which Augur well for the market. ECG screening is the most efficient technology for diagnosing HCM. The success demostrated by this technology has Significantly Contributed in fueling demand for HCM therapeutics.
Rising penetration of Advanced Medical Devices to Threaten Market Growth
Despite witnessing positive growth opportunities, the rising penetration of medical devices: such as pacemakers and defibrillators in the healthcare sector has been inhibiting the HCM therapeutics market’s trajectory. Demand for gene therapy and implantable medical devices is rising as patients gain adequate knowledge about positive results Offered By seeking advanced medical devices. The Increasing acceptance of thesis medical devices Could limit the scope of expansion for the HCM therapeutics market.
Nevertheless, drugs created specifically for the treatment of hypertrophic cardiomyopathy are yet to find approval. Once approved, this indication will bolster sales opportunities for the market players. Additionally, due to the high prevalence of unmet medical needs across Asia Pacific and the Increasing medical expenditure in the region thus boosts prospects for the HCM therapeutics market.
Regionally, North America holds the large largest share in the global HCM therapeutics market. HOWEVER, as per TMR, the market is therefore expected to witness strong growth in Asia Pacific and Rest of the World. The Asia Pacific HCM therapeutics market is poised to expand at 2.9% CAGR between 2015 and 2023. By drug class, de market which led by calcium channel blockers in 2014. By drug class, de calcium channel blockers is expected to dominate the market. It held over 37.4% of the HCM therapeutics market in, 2014.
TMR estimates the overall value of the global hypertrophic cardiomyopathy therapeutics market at US $ 1.2 bn in 2014. Exhibiting a moderate CAGR of 1.4% from 2015 to 2023, the market is expected to reach US $ 1.3 bn by the end of the 2023rd
This review is based on information published by TMR, in a report titled „Hypertrophic Cardiomyopathy Therapeutics (HCM) Market – Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023.“
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