Myocardial Ischemia Market – Overview
The global market for myocardial ischemia is all set to garner USD 50,120.3 million if it can maintain the momentum at the touted CAGR of 6% during the assessment period (2017-2023), reports Market Research Future (MRFR). Myocardial ischemia occurs when the blood flow to the heart is reduced due to some blockage and subsequently leads to cardiac arrest. Timely diagnosis and proper treatment will be instrumental in saving lives of patients.
One of the major factors driving the market is the prevalence of coronary heart disease. The disease is characterized by the hardening and narrowing of the arteries that hinder the blood flow to the heart by building plaques (atherosclerosis). According to the Centers for Disease Control and Prevention (CDC), in 2017, coronary heart disease was the most common type of heart disease within the U.S., and around 366,000 people succumbed to this disease in 2015. Astonishingly, the number of people contracting this disease is spiraling high.
Diabetic patients are more prone to this disease due to cardiac autonomic dysfunction. As per a study published in the Endocrinology, Diabetes & Metabolism Case Reports journal in 2013, 22% of the patients diagnosed with type 2 diabetes had shown symptoms of Silent Myocardial Ischemia (SMI). The number of people getting affected by diabetes is showing no sign of slackening down. This could also trigger the market growth.
However, the high cost of the procedures is a barrier that could impede the market growth. Angioplasty and stenting, coronary artery bypass surgery, and enhanced external counterpulsation (EECP) are some of the methods used for myocardial ischemia, and most of them incur a high cost.
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Myocardial Ischemia Market – Top Players
India, China, and Australia in APAC region are emerging as a possible market for myocardial ischemia. India is the fastest growing one in the healthcare segment. With a staggering CAGR of 22.87%, the market is expected to cross USD 280 billion by 2020. These possibilities in the region create further prospects for the established brand where they can expand their business. Australia also has a burgeoning patient population where around 643,000 adults had reportedly got affected by the disease in period of 2014-2015.
Mostly, the vendors try to stay abreast in this competitive market by bringing in the latest technologies and innovations and implementing them in increasing their portfolio. Expansion of their business in various countries is another strategy employed to curb the share of the competition. For instance, Boston Scientific, Inc. with a vast product portfolio in the myocardial ischemia industry has started operating in more than a dozen countries. It has a considerable influence in markets of several countries such as North America, Europe, and the Middle East and Africa,
The key players profiled in the market are:
- Boehringer Ingelheim International GmbH
- Bayer AG
- Taxus Cardium
- ViroMed Co. Ltd.
- Daiichi Sankyo Company Limited.
Global Myocardial Ischemia Market – Regional Analysis
Geographically, the global myocardial ischemia market is spread across the Americas, Europe, Asia Pacific, and the Middle East and Africa.
MRFR noted that the Americas accounted for the largest market share and will maintain its dominance throughout the forecast period. The Americas market is presumed to reach USD 18,130.3 million by 2023 at a CAGR of 6.21% from 2017 to 2023. This position was achieved due to rising prevalence of diabetes, obesity, lack of physical inactivity, and excessive alcohol consumption among the population in the region.
After America, Europe holds the largest market share owing to high number of cases related to cardiovascular diseases. Revolutionary technology, rising healthcare infrastructure, continuous researches conducted to enhance treatment procedures, and easy access to medical facilities and medication has led to market growth in the region. Moreover, obesity and stressful schedules have given way to expansion of the market considerably.
Asia Pacific is expected to garner high revenues at the fastest growth rate of about 6.42% during the forecast period due to rising prevalence of diabetes. Growing awareness about cardiovascular diseases and increasing geriatric population are major driving factors of the market in the region. Moreover, growing economies in the region and rising investments in healthcare facilities along with a growing number of hospitals make sure that the market gains significant traction in the region. Apart from these factors, government initiatives to generate awareness and knowledge regarding health issues also propel the market growth.
The Middle East and Africa market is estimated to witness passive growth, which can be attributed to less exposure and access to healthcare services and stringent government rules and regulations. Moreover, substandard healthcare infrastructure can deter the growth of the market in the region.
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Global Myocardial Ischemia Market – Segmentation
The global myocardial ischemia market is segmented on the basis of type, diagnosis & treatment, and end-user. By type, the market is segmented on the basis of symptomatic and asymptomatic. The asymptomatic (silent) myocardial ischemia segment accounted for the largest market share in 2017. Growing number of smokers, family history of heart diseases, prevalence of cases of high cholesterol and high blood pressure, and lack of exercise can drive the growth in the segment.
By treatment & diagnosis, the market is segmented into treatment and diagnosis. The diagnosis segment is sub-segmented into imaging and stress test. On the other hand, the treatment segment is sub-segmented into medications and surgery. The treatment segment has gained significant traction owing to increasing prevalence of coronary heart disease and large population leading a stressful lifestyle. Thus, the treatment segment is estimated to hold largest market share till the end of the forecast period. The end-users in the global myocardial ischemia market are hospitals & clinics, diagnostic centers, ambulatory surgery centers, and others.
Major TOC of Myocardial Ischemia Market Research Report- Global Forecast till 2023
2 Research Methodology
3 Market Dynamics
4 Market Factor Analysis
5 Global Myocardial Ischemia Market, By Type
6 Global Myocardial Ischemia Market, By Diagnosis
7 Global Myocardial Ischemia, By Treatment
8 Global Myocardial Ischemia, By End-user
9 Global Myocardial Ischemia, By Region
7 Competitive Landscape
8 Company Profile
9 MRFR Conclusion
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