Competitive Landscape for Worldwide Hypertrophic Cardiomyopathy Therapeutics Market by Segments - 2023

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 S.A., Pfizer, Inc., and Merck & Co., accounted for a share of over 64.5%, which points toward a highly consolidated vendor landscape. 

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 2023.

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.

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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 TMR analyst. 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 have also aided the expansion of the HCM therapeutics market,” said the TMR analyst. Furthermore, patients are now more aware about the latest medical advances, which augurs well for the market. ECG screening is the most efficient technology for diagnosing HCM. The success demonstrated by this technology has significantly contributed in fuelling 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 such advanced medical devices. The increasing acceptance of these 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 also boosts prospects for the HCM therapeutics market.

Regionally, North America holds the largest share in the global HCM therapeutics market. However, as per TMR, the market is also 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, the market was led by calcium channel blockers in 2014. By drug class, the calcium channel blockers is expected to dominate the market. It held over 37.4% of the HCM therapeutics market in 2014.

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Hypertrophic Cardiomyopathy Therapeutics Market Global Industry Volume By Region 2015 - 2023

The rising prevalence of chronic cardiovascular ailments has spurred the demand for effective therapeutics, thereby driving the global hypertrophic cardiomyopathy (HCM) therapeutics market. In a report titled “Hypertrophic Cardiomyopathy Therapeutics Market - Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends, and Forecast, 2015 - 2023,” Transparency Market Research studies in detail the various factors fueling and challenging the global market. 

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According to the American Heart Association, hypertrophic cardiomyopathy is a common condition that occurs when the muscle cells of the heart enlarge, causing the ventricle walls to thicken. HCM affects both men and women and is a common cause of sudden cardiac arrest in young people. The rising incidence of obstructive and non-obstructive hypertrophic cardiomyopathy is anticipated help the global market maintain a steady, albeit meager CAGR of 1.4% from 2015 to 2023. In 2014, the value of the hypertrophic cardiomyopathy therapeutics market was pegged at US$1.2 bn, which is forecast to increase to US$1.4 bn by 2023.

The global market for hypertrophic cardiomyopathy therapeutics has been studied on two fronts: By drug class and by geography.

Based on drug class, the hypertrophic cardiomyopathy therapeutics market has been categorized into calcium channel blockers, anticoagulants, beta adrenergic blocking agents, and antiarrhythmic agents. Although beta adrenergic blocking agents are the first preference for the treatment of obstructive as well as non-obstructive hypertrophic cardiomyopathy, calcium channel blockers form the largest segment in the overall market in terms of revenue. This can be attributed to the fact that the price of the latter blocking agents is much higher than that of the former.

By geography, the global hypertrophic cardiomyopathy therapeutics market comprises, Asia Pacific, North America, Europe, and Rest of the World. North America and Europe dominate the worldwide market, with the U.S. being the largest market for hypertrophic cardiomyopathy therapeutics. Accounting for a share of over 30% in 2014, the country is projected to retain is lead position throughout the forecast period. The hypertrophic cardiomyopathy therapeutics markets in Europe and North America are fueled by the rising prevalence of sedentary lifestyle among the younger population, the availability of modern healthcare infrastructure, and an increased presence of obesity. Growing awareness about hypertrophic cardiomyopathy and the various therapeutics available today has also significantly propelled the hypertrophic cardiomyopathy therapeutics market in these two regions.

Asia Pacific is predicted to be the fastest expanding market by 2023, fueled primarily by the rapid development in healthcare infrastructure, the increasing prevalence of various chronic diseases, and the growing awareness about various cardiac complications.

The report offers a detailed section on the competitive landscape of the global hypertrophic cardiomyopathy therapeutics market. The strengths, weaknesses, opportunities, and threats of each of the profiled players have also been examined in the report. Some of the promising companies in the hypertrophic cardiomyopathy therapeutics market are Teva Pharmaceuticals Limited, Gilead Sciences, Inc., Merck & Co., Inc., AstraZeneca plc, Concordia Healthcare Corp., Pfizer, Inc., Mylan N.V., Novartis AG, and Sanofi S.A.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

The Entry of Genomic Medicines to Propel Global Hypertrophic Cardiomyopathy Therapeutics Market

Hypertrophic Cardiomyopathy (HCM) is a common disease of the heart muscles where the thickening of the myocardium results in functional impairment. HCM is a genetic condition affected by mutation in genes. As per the European Society of Cardiology, the occurrence of HCM in 2013 was between 0.05% and 0.2% of the population. According to a study presented by BioMed Central in 2010, there was no specific age and gender differences in the occurrence of HCM. The occurrence of HCM is reportedly the highest among African-Americans.    

These factors have paved the way for the growth of the global hypertrophic cardiomyopathy therapeutics market. It is expected to register a steady CAGR of 1.40% between 2015 and 2023, states a new report published by Transparency Market Research. At this CAGR, the global hypertrophic cardiomyopathy therapeutics market is expected to reach US$1.4 bn by 2023. 

TMR analysts answer some key questions that organizations in the global hypertrophic cardiomyopathy therapeutics market might ask:

Q. What are the drug classes of hypertrophic cardiomyopathy therapeutics and which one is expected to drive the global market?

To be precise, beta adrenergic blocking agents, calcium channel blockers, antiarrhythmic agents, anticoagulants, and others are some of the drug classes of HCM therapeutics. As per a recent study, over the past few years, the calcium channel blockers segment has been the dominant segment in terms of revenue. The calcium channel blockers segment is expected to progress at a 1.80% CAGR during the period from 2015 to 2023. This segment is expected to maintain its dominance in the years to come.  

Q. What would drive and restrict the global hypertrophic cardiomyopathy therapeutics market in the near future?

A. The increasing occurrence of chronic cardiovascular diseases is expected to increase the demand for effective treatments in the years to come. This is expected to propel the global hypertrophic cardiomyopathy therapeutics market in the long run. The growing awareness about HCM across the developed countries is also expected to benefit the global hypertrophic cardiomyopathy therapeutics market in the near future. Even though the global market is set for rapid expansion, its growth is predicted to be affected by the rising technological improvement in equipment such as pacemakers and defibrillators. However, leading players are focusing on targeted therapy for hypertrophic cardiomyopathy, which is anticipated to benefit the global hypertrophic cardiomyopathy therapeutics market.   

Q. Which diagnostic tools are used to evaluate hypertrophic cardiomyopathy therapeutics?

A. Over the past two decades, the pathogenic basis for HCM has been investigated broadly. Affecting roughly 1 in 500 people, HCM has become one of the common causes of sudden death, especially in young athletes. Patients with cardiomyopathy may complain of chest pain or may suffer heart failure. In some cases, HCM might be asymptomatic. Today, genomic medicines are changing the way HCM patients are treated. Continuous research and development into the discovery of new HCM susceptible genes and the increasing availability of genetic tests for HCM are changing the HCM therapeutics landscape rapidly.

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Following are some of the diagnostic tools, which are used for evaluating hypertrophic cardiomyopathy therapeutics (HCM):

• Echocardiography
• Cardiac magnetic resonance
• Doppler echocardiography 
• 48-hour ambulatory ECG monitoring 
• 24-hour ambulatory electrocardiographic monitoring

With governments of many nations offering a helping hand through funding, researchers are able to discover new HCM drugs. Thus, the global HCM therapeutics market is predicted to propel in the coming few years.