As per Future Market Insights, the genetic cardiomyopathies market is anticipated to attain a value pool of US$ 2 billion by 2023-end. Global disbursement of genetic cardiomyopathies is expected to rise at a CAGR of 13.3% to US$ 7 billion in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 2 billion |
| Projected Market Value in 2033 | US$ 7 billion |
| Growth Rate (2023 to 2033) | 13.3% CAGR |
Genetic cardiomyopathies are inherited type of medical condition of the heart muscles, some of the most common inherited disorders and are a major cause of heart disease in all age groups. It is characterized by the weakening of heart muscles that makes it harder for the heart to pump blood to the rest of the body. The main types of genetic cardiomyopathies are dilated, restrictive and hypertonic cardiomyopathy.
The treatment of genetic cardiomyopathies include medications, surgically implanted devices or a heart transplant. The market of genetic cardiomyopathies is expected to grow rapidly during the forecast period due to the rising number of heart problems and increasing life expectancy of individuals. The outbreak of coronavirus is an unprecedented shock to the world’s economy.
As coronavirus has become the main focus, all research institutes, biotech and pharmaceutical companies are appointed in collaboration work to deal with Covid-19. There has been a disruption in the supply chain due to which production of implants and development of drugs is adversely affected.
There are many factors that are driving the genetic cardiomyopathies market, advancement in understanding and managing of genetic cardiomyopathies is the major factor. The increasing demand for early diagnosis and treatment of congestive heart failure, heart attack, and coronary heart disease is likely to drive the growth of the genetic cardiomyopathies market.
Also, the increasing use of minimally invasive technology and availability of remote monitoring solutions, medical tourism in emerging countries are expected to boost the market. Apart from drivers, there are few restraints of genetic cardiomyopathies market such as high diagnosis and treatment cost and lack of public awareness about various heart disorders.
Based on the type of disease, the dilated cardiomyopathy is expected to hold a major share in the genetic cardiomyopathies market. Based on the drug type, the anticoagulant is the most preferred segment of the genetic cardiomyopathies market, anti-hypertensive drug is expected to grow during the forecast period. Based on the end-user, the hospitals are expected to have the largest share in the global genetic cardiomyopathies market.
North America and Europe are expected to dominate the global genetic cardiomyopathies market, due to the increasing prevalence of the cardiac disorder, technological advancements, and the presence of key market players in the region. Asia-Pacific is expected to have a significant growth in the global genetic cardiomyopathies market over the forecast period due to the rising focus on precision medicine, and rising awareness of cardiac disorders.
The increasing population and changing lifestyle in countries like China and India is further likely to increase the demand for genetic cardiomyopathies in the region. The advancement in the technologies and the development of direct sarcomere modulators is successful in providing a better and detailed understanding of the molecular mechanisms.
Also, there has been a substantial progress in drug therapy for the management of genetic cardiomyopathies such as beta-andregenic blockers. There are many ongoing clinical trials of several drugs that would help to manage heart disorders in a better way.
Some of the market participants in the global genetic cardiomyopathies market identified across the value chain include:
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Genetic Cardiomyopathies Market
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