New York, April 02, 2020 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the global Hypertrophic Cardiomyopathy Therapeutics Market valued at USD 1.20 Billion in 2019 and is expected to reach USD 1.42 billion by the year 2027, at a CAGR of 2.1%. Hypertrophic cardiomyopathy (HCM) alters the functioning of the heart. Increasing prevalence of cardiovascular disorders, lifestyle habits like smoking and consumption of alcohol, obesity, and growth in the geriatric populations are the factors driving the growth of the market. However, the high-cost expenditure of treatment is restraining the market. According to the report, the World Health Organization (WHO) estimated that 17.9 million people died from cardiovascular diseases in the year 2016, which includes approximately 31% of all global deaths. According to the WHO, in 2016, more than 1.9 billion adults aged 18 years and older were overweight. Regionally, in Africa, the number of overweight children under five has increased by nearly 50% since 2000. Approximately half of the children under five who were overweight or obese in 2018 lived in Asia. The prevalence of obesity among children and adolescents aged 5-19 has risen dramatically. According to Canadian Community Health Survey, in 2018, nearly 63.1% of Canadian adults were either obese or overweight, in which approximately 26.8%, i.e., 7.3 million adults, were obese and another 9.9 million, i.e., 36.3% of Canadian adults were overweight. In 2019 approximately 35% of Americans were obese or overweight in the United States.
Asia Pacific region is likely to increase the market growth due to factors like an increase in the patient population, lifestyle habits like smoking and consumption of alcohol and, rise in the geriatric population, etc.
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The COVID-19 Impact: The sudden outbreak of COVID-19 has reported decrease in the growth of the hypertrophic cardiomyopathy therapeutic market. As per the Society of American Gastrointestinal and Endoscopic Surgeons (SAGES) and European Association for Endoscopic Surgery (EAES) recommendations hospitals are reducing medical staff members and continuously growing numbers of infected patients has reduced the availability of healthcare professionals and has obstructed in logistic supplies.
Further key findings from the report suggest
- In the year 2019, Correvio Pharma had resubmitted the New Drug Application (NDA) for Brinavess (vernakalant hydrochloride) for the treatment of cardiac arrhythmias to the Food and Drug Administration. But the FDA issued a CRL letter to Correvio Pharma and rejected Brinavess (vernakalant hydrochloride) as it was seen that the drug had prolonged atrial refractoriness and slowed the impulse conduction in a rate-dependent fashion, but the data provided in the application did not provide reassurance of the safety.
- The NYIT College of Osteopathic Medicine (NYITCOM) researchers, offered a new treatment for patients with beta-blocker intolerance, here T3 (thyroid hormone therapy) was used in the treatment. It is an effective method for managing cardiovascular disorders, and showed better contraction and relaxation of the heart, and was found to be a better treatment for patients.
- Strokes are one of the causes of hypertrophic cardiomyopathy. In February 2020, the FDA had approved a clinical trial that on Abbott's Amplatzer Amulet, a stroke prevention device it was found to be more beneficial than the new class of blood thinners that are currently used in the treatment. It involves a minimally invasive procedure used for patients with atrial fibrillation. It is an effective non-prescription drug alternative for patients with arterial fibrillation who are at an increased risk for ischemic stroke.
- Medtronicin January 2020, had announced that it had received the CE Mark for its Cobalt and Crome portfolio of implantable cardioverter-defibrillators (ICD) and cardiac resynchronization therapy-defibrillators (CRT-D).ICDs are used to monitor heart rhythms and supply proper therapy to correct heart rates that are too fast that lead to sudden cardiac arrest. CRT-Ds is a treatment option for some individuals with heart failure; it sends small electrical impulses to the lower chambers of the heart to support them beat in more synchronized patterns and to reduce arrhythmia symptoms.
- Merck in the year 2019 announced an acquisition of ArQule for arround USD 2.7 billion. This acquisition had strengthened Merck's pipeline it and also included ARQ 531 for the treatment of B-cell malignancies.
- By Drugs segment, the antiarrhythmic drugs have obtained the largest share of about 36.4% in the year 2019, due to the rise in the incidences of cardiac arrhythmias and also due to the lifestyle factors like smoking and consumption of alcohol
- On the basis of devices defibrillators accounted for USD 598.3 million for the year 2019.
- AstraZeneca, Merck, Pfizer, Sanofi, Gilead Sciences, Novartis, Teva Pharmaceutical, Correvio Pharma Industries, Abbot, Lupin limited are the key players in the Hypertrophic Cardiomyopathy Therapeutics market.
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For the purpose of this purpose, Reports and Data have segmented the Hypertrophic Cardiomyopathy Therapeutics market on the basis of drugs, devices, end use, and region.
Drugs Outlook (Revenue in Million USD; (2017–2027)
- Antiarrhythmic Agents
- Anticoagulants
- Beta-Adrenergic Blocking Agents
- Calcium Channel Blockers
- Others
Devices Outlook (Revenue in Million USD; (2017–2027)
- Defibrillators
- Pacemakers
- Other Medical Devices
End Use Outlook (Revenue in Million USD; (2017–2027)
- Hospitals
- Clinics
- Others
Regional Outlook (Revenue in Million USD; (2017–2027)
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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