Westford, USA, Feb. 22, 2023 (GLOBE NEWSWIRE) -- North America is currently holding a dominant position in the myocardial infarction (MI) therapeutics market due to several factors. One of the primary reasons is the increasing incidence of MI in the region, which has led to a growing demand for effective treatments. Additionally, rising healthcare expenditure has enabled patients to access more advanced treatments and technologies, further contributing to the market's growth. Furthermore, the increased frequency of obesity and chronic disorders like diabetes, hypertension, and chronic kidney disease are also significant factors driving the expansion of the market.
Heart attacks, or myocardial infarctions (MI), are a significant health concern in the United States, with an estimated 800,000 people suffering from a heart attack yearly. Of these cases, 600,000 are first-time occurrences, while the remaining 180,000 happen to individuals who have previously experienced a heart attack. This high incidence of heart attacks underscores the urgent need for effective and accessible treatments for myocardial infarction.
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- Figures - 70
Myocardial infarction (MI) therapeutics cover a range of treatment options for patients who have suffered from a heart attack. MI, generally known as a heart attack, is a severe medical condition that occurs when the blood flow to the heart is blocked, which can damage the heart muscle. The treatment options for MI can include both medical and surgical interventions. Medical treatments may include medications, such as antiplatelet agents, beta-blockers, and ACE inhibitors, to manage symptoms and prevent future heart attacks.
Prominent Players in Myocardial Infarction (MI) Therapeutics Market
- Bayer HealthCare LLC (Germany)
- Eli Lilly and Company (US)
- Daiichi Sankyo, Inc. (Japan)
- Merck & Co. Inc. (US)
- Idorsia Pharmaceuticals Ltd. (Switzerland)
- Janssen Biotech, Inc. (US)
- Sanofi (France)
- Novartis International AG (Switzerland)
- Pfizer (US)
- AstraZeneca (UK)
- GlaxoSmithKline PLC (UK)
- Amgen, Inc. (US)
- Bristol-Myers Squibb Company (US)
- Regeneron Pharmaceuticals Inc. (US)
- Alnylam Pharmaceuticals Inc. (US)
Oral Segment to Attract Significant Sales Growth owing to Ample Availability of Generic Oral Medications for MI Treatment
The oral segment experienced impressive growth in the myocardial infarction (MI) therapeutics market in 2021, and SkyQuest predicts that this trend will continue rapidly from 2022 to 2028. This upward trajectory in the oral segment is a promising sign for the healthcare industry, highlighting the increasing demand for oral healthcare services and products. Oral medications are a convenient and non-invasive way to deliver them, making them more attractive to patients. They also have a longer shelf life than injectable medications, making them more cost-effective for patients and healthcare providers.
According to market research, the North American region dominated the myocardial infarction (MI) therapeutics market in 2021. The region's positive growth can be attributed to several factors, including the increasing prevalence of cardiovascular disorders and the growing senior population in the region. According to SkyQuest, the incidence of cardiac arrest is estimated to be around 52.3 per 100,000 population in the region. The high incidence of cardiac arrests underscores the urgent need for effective myocardial infarction (MI) treatments.
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Hospital Pharmacy Emerges as the Dominant Segment Thanks to Well-Established Networks and the Presence of Advanced Medical Facilities
According to market analysis, the hospital pharmacy segment emerged as the dominant distribution channel in the global myocardial infarction (MI) therapeutics market in 2021. The segment's growth is driven by the fact that most of the population seeks medical assistance from hospitals during emergencies such as heart attacks due to the easy accessibility and availability of hospital services. In addition, as the prevalence of MI continues to rise, the demand for effective and reliable treatment options is also increasing. Hospital pharmacies are thus in a prime position to meet the growing demand for MI therapeutics, making them an essential market component.
According to market research, the Asia Pacific region, closely followed by Europe, is expected to hold a significant share of the myocardial infarction (MI) therapeutics market. Such dominance is the result of the increasing incidence of MI in these regions. One key driver is the rising availability of reimbursement schemes, which provide financial support for patients to access necessary treatments. In addition, cardiac arrest is a severe medical emergency affecting many people in Asia, with an estimated incidence ranging from 26.4 per 100,000. This high incidence of cardiac arrest highlights the urgent need for effective myocardial infarction (MI) therapeutics.
SkyQuest, a renowned research firm, has recently published a comprehensive report on the myocardial infarction (MI) therapeutics market. The report is a comprehensive guide for stakeholders in the market, including healthcare professionals, investors, and policymakers. The report provides an overview of the business strategies of these players, including their mergers and acquisitions, partnerships, and collaborations. Additionally, it highlights their product portfolios and market share, providing a comprehensive understanding of the competitive landscape in the market.
Key Developments in Myocardial Infarction (MI) Therapeutics Market
- Cardior Pharmaceuticals is a clinical-stage biotech company dedicated to developing non-coding RNA (ncRNA)-based therapeutics for patients with cardiac diseases. The company recently announced that the first patient had been dosed in their multicenter Phase 2 trial, HF-REVERT, which aims to evaluate the safety and efficacy of CDR132L in 280 patients with reduced left ventricular ejection fraction following myocardial infarction.
- Recardio Inc. is a clinical-stage life science company dedicated to developing regenerative therapies for cardiovascular diseases. Recently, the company made an important announcement stating that the U.S. Food and Drug Administration (FDA) has agreed with Recardio's pivotal Heal-MI Phase 3 trial design using Dutogliptin for treating Acute Myocardial Infarction (AMI). The Heal-MI Phase 3 trial is a crucial step in advancing the development of Dutogliptin as a potential treatment for AMI.
- Forcefield Therapeutics, a company dedicated to developing innovative therapeutics to protect heart function following myocardial infarction, has officially launched. The company has received a £5.5 million commitment from Syncona Ltd. This prominent healthcare company is focused on founding, building, and funding a portfolio of global leaders in the life sciences sector. The funding from Syncona will enable Forcefield Therapeutics to develop its innovative therapeutics further and advance them through clinical trials and regulatory approval processes.
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Key Questions Answered in Myocardial Infarction (MI) Therapeutics Market Report
- In which specific industries or sectors are investments in the target market expected to increase soon, and what factors drive this growth?
- Which market segments experiencing growth or decline in demand, and what factors contribute to this trend?
- What are the current restraining factors for the market, and how can they be addressed effectively?
- How do geopolitical factors, such as trade policies and regulations, impact the target market, and what strategies can businesses use to deal with these dynamics?
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