The heart block therapeutics market has witnessed significant growth and innovation in recent years, driven by the increasing prevalence of heart diseases and the continuous advancement in medical technology. Heart block, a condition characterized by abnormal electrical conduction in the heart, poses a substantial health risk and often requires medical intervention. As a result, the market for therapeutics targeting heart block has been on the rise.
One of the key drivers of this market’s growth is the aging global population. With the world’s elderly population expanding, the incidence of heart block and related cardiac conditions is on the rise. This demographic shift has prompted a greater demand for effective treatments and therapies, leading to increased investment in research and development within the pharmaceutical and medical device sectors.
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The global market for heart block therapeutics is anticipated to reach US$ 3 billion in value in 2021. The market for heart block therapeutics is predicted to grow at a projected CAGR of 4.3% between 2022 and 2032, reaching a value of around US$ 4.8 billion by the end of that year. The Heart Block Therapeutics Market expanded by 4.9% from 2015 to 2021.
Innovations in medical technology have also played a pivotal role in shaping the heart block therapeutics market. Implantable pacemakers and defibrillators have become increasingly sophisticated, offering more personalized and effective solutions for patients with heart block. Additionally, advancements in electrophysiology procedures, such as catheter ablation, have opened up new avenues for the treatment of heart rhythm disorders.
Moreover, the market has witnessed a surge in the development of pharmaceuticals aimed at managing heart block and related conditions. These medications aim to regulate heart rhythm, reduce the risk of complications, and improve the overall quality of life for patients. As the understanding of cardiac electrophysiology continues to evolve, the potential for targeted drug therapies has expanded significantly.
Here are some of the key takeaways from the Future Market Insights report “Heart Block Therapeutics Market by 2022 to 2032”:
- The global heart block therapeutics market is expected to grow at a CAGR of 4.3% from 2022 to 2032, reaching a value of US$ 4.8 billion by the end of the forecast period.
- The North American market is expected to remain the largest market for heart block therapeutics throughout the forecast period, followed by the European and Asia Pacific markets.
- The pacemaker segment is expected to account for the largest share of the market in 2022, followed by the implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy (CRT) segments.
- The increasing prevalence of heart block, the aging population, and the rising demand for minimally invasive procedures are the key factors driving the growth of the heart block therapeutics market.
- The key players in the heart block therapeutics market include Medtronic, St. Jude Medical, Boston Scientific, BIOTRONIK, and Abbott Laboratories.
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Key Companies Profiled:
- Koninklijke Philips N.V.
- Bristol Myers Squibb
- Edward Lifesciences Corporation
- St. Jude Medical
- Medtronic
- Natco Pharma
- Boston Scientific Corporation
- SORIN S.p.A
- BIOTRONIK SE & Co. KG
- Abbott Laboratories
- Novartis AG
- Pfizer Inc.
- Bayer AG
Some of the recent developments by the key providers of Heart Block Therapeutics are as follows:
- In April 2022, Bristol Myers Squibb announced that they have received approval from US Food and Drug Corporation for its oral heart disease drug Mavacamten which will help in treating hypertrophic cardiomyopathy, a genetic heart disease that leads to sudden cardiac arrests in young people.
- In June 2020, Edward Lifesciences Corporation (USA) confirmed that they have received Chinese approval for the SAPIEN 3 Trans catheter heart valve for the treatment of patients with severe and symptomatic aortic stenosis (AS) who are not able to undergo open-heart surgery.
Key Segments Covered in Heart Block Therapeutics Market Survey
By Type:
- First Degree Heart Blocks
- Second Degree Heart Blocks
- Third Degree Heart Blocks
By Product:
- Transcutaneous pacing (TCP)
- Pacemaker
- Mediation
- Follow-up electrophysiology study
By End User:
- Hospital Testing
- Home Treatment
- Clinics
- Others
By Region:
- North America
- Europe
- APAC
- MEA
- Latin America
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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