The Global Myocardial Infarction Market is estimated to be valued at US$ 1,816.8 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period from 2021 to 2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Myocardial infarction, commonly known as a heart attack, occurs due to the reduced blood supply to the heart muscles causing damage. It is caused due to blockage in the coronary arteries reducing the blood flow. The key products in the market include drugs used for reperfusion therapy, antiplatelet agents, beta-blockers, renin-angiotensin system inhibitors, and statins which help restore blood flow and prevent further damage.
Market Dynamics:
The global myocardial infarction market is primarily driven by the rising geriatric population who are more prone to cardiovascular diseases and growing burden of coronary heart diseases worldwide. As per the WHO statistics, cardiovascular diseases are the leading cause of death globally, taking an estimated 17.9 million lives each year. Furthermore, increasing research investments for development of advanced therapeutics and diagnostics along with growing awareness about preventive healthcare are further fueling the market growth over the forecast period.
Market Key Trends:
The myocardial infarction market is witnessing increased demand for drugs that can reduce mortality and morbidity rates. One key trend is the rising focus on timely revascularization and myocardial reperfusion to limit damage caused by interrupted blood supply. Drugs that facilitate quick restoration of blood flow after a heart attack help minimize heart muscle damage and improve outcomes. With growing awareness, more patients are seeking emergency medical care immediately after onset of symptoms leading to increased opportunities.
SWOT Analysis
Strengths: Drugs that restore blood flow to the heart quickly and limit damage have strong efficacy. Increased diagnosis rates allow for timely treatment.
Weaknesses: High development costs of new drugs. Existing drugs face competition from generics.
Opportunities: Expanding target populations in developing regions present a large untreated patient base. Combination therapies offer new avenues for treatment.
Threats: Price controls and regulatory hurdles raise compliance costs. Reimbursement issues reduce market access in some countries.
Key Takeaways
The Global Myocardial Infarction Market size is expected to grow from US$ 1,816.8 Mn in 2023 to US$ 3,012.5 Mn by 2028 at a CAGR of 5.9% in the forecast period. The increasing burden of cardiovascular diseases and rising geriatric population are expected to drive the market.
Regionally, North America is expected to dominate the myocardial infarction market during the forecast period. Factors such as rising obese population, sedentary lifestyle among people, and unhealthy food habits have significantly increased the prevalence of coronary heart diseases in the region.
Key players operating in the myocardial infarction market are Bristol-Myers Squibb Co., Bayer AG, Johnson & Johnson Services Inc., Sanofi S.A., Novartis International AG, AstraZeneca plc., Daiichi Sankyo Co Ltd, Boehringer Ingelheim International GmbH, Pfizer Inc., and Merck KGaA. These players are focusing on developing innovative drugs and combination therapies to expand their product portfolios.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it