According to a new market report published by Transparency Market Research, “Hypertrophic Cardiomyopathy Therapeutics Market: (By Drug Class: Beta Adrenergic Blocking Agents, Calcium Channel Blocker, Antiarrhythmic Agents, and Anticoagulants): Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends, and Forecast, 2015–2023,” the global hypertrophic cardiomyopathy therapeutics market was valued at US$1.2 bn in 2014 and is anticipated to expand at a CAGR of 1.4% from 2015 to 2023 to reach US$1.4 bn by 2023.
Hypertrophic cardiomyopathy occurs if the heart muscle cells enlarge and cause the walls of the ventricles to thicken. It is a genetic condition caused by mutation in one or more genes and is hereditary in nature. According to the American Heart Association, the prevalence rate in leading HCM markets such as the U.S., China, and Japan ranged from 0.16% to 0.29% in 2013. Modern health care infrastructure, increasing sedentary lifestyle among the young population, and rise in obese population are the major drivers of the hypertrophic cardiomyopathy therapeutics market. Additionally, rising awareness in developing countries about HCM and increasing incidence of HCM are the other factors supporting market growth. However, rising technological advancements in devices such as defibrillators and pacemakers restricts the growth of the global hypertrophic cardiomyopathy therapeutics market.
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Geographically, the hypertrophic cardiomyopathy therapeutics market has been segmented into four major regions: North America, Europe, Asia Pacific, and Rest of the World. North America held the largest share of the global hypertrophic cardiomyopathy therapeutics market in terms of revenue in 2014, followed by Europe. The dominance of these two regions was majorly due to growing awareness about cardiac complications, high health care expenditure, and increasing number of obese population due to sedentary lifestyle. The U.S. accounted for a major share of the market in North America due to the presence of leading manufacturers in the region.
Currently, Europe accounts for the second largest share of the global hypertrophic cardiomyopathy therapeutics market due to increasing geriatric population and rising number of people diagnosed with hypertrophic cardiomyopathy. The U.K. and Germany are the major markets for hypertrophic cardiomyopathy treatment in Europe, and collectively accounted for more than 45% share of the hypertrophic cardiomyopathy therapeutics market in Europe in 2014. However, the markets in the U.K and Germany are declining as most of the drugs have gone off patent.
Asia Pacific and RoW have been identified as the fastest growing markets due to rising disease prevalence, developing health care infrastructure, growing diagnosis rate of cardiovascular diseases, and increasing awareness about cardiac complications in these regions.
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AstraZeneca plc, Concordia Healthcare Corp., Sanofi S.A., Pfizer, Inc., Merck & Co., Inc., Teva Pharmaceuticals Limited, Mylan N.V., Gilead Sciences, Inc., and Novartis AG are the major companies operating in the global hypertrophic cardiomyopathy therapeutics market. Sanofi SA and Pfizer, Inc. dominated the global hypertrophic cardiomyopathy market in 2014.
The global hypertrophic cardiomyopathy therapeutics market has been segmented as follows:
Global Hypertrophic Cardiomyopathy Therapeutics Market, by Drug Class
- Beta Adrenergic Blocking Agents
- Calcium Channel Blockers
- Antiarrhythmic Agents
Global Hypertrophic Cardiomyopathy Therapeutics Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World (RoW)
- Latin America
- Middle East
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