Global Heart Block Therapeutics Market was valued at US$ 3 Bn in 2021 and is expected to reach US$ 4.8 Bn by 2032, find Future Market Insights (FMI) in a recent market survey. As per the findings of the report, Pacemakers, among all products will garner significant demand in the market as the bulk of revenue will be generated through them. Revenue through pacemakers grew at a CAGR of 4.8% during 2015 - 2021.
Older Populace Swells Worldwide, Propels the Global Demand for Heart Block Therapeutics
According to the United Nations Department of Economic and Social Affairs, by 2050, the population of 60 years old and above is expected to reach 437 Mn in China, 324 Mn in India, 107 Mn in The US, and 58 Mn in Brazil. Hence, the growing older populace propels the worldwide Heart Block Therapeutics market as the older population is more prone to heart-related diseases. The World Health Organization (WHO) reported that around 524 Mn people represent the geriatric population in 2010 and by 2050, almost 2 Bn people will be geriatric.
The US Continues Being the Largest Revenue Stream for Heart Block Therapeutics Market
Heart Block Therapeutics market in the US to reach a valuation of US$ 1.7 Bn by 2032. From 2015 to 2021, the market revenue through the US grew at a CAGR of 4.7%, while between 2022 and 2032, it is predicted to witness a CAGR of 4.1%. The combination of innovative treatment technology, adoption of digital solutions, and shifting provider and care delivery shifts provides the Heart Block Therapeutics Industry with tremendous growth potential in the United States. Between 2022 and 2032, the US is expected to be a market with a US$ 570.5 Mn absolute dollar opportunity.
“Introduction of artificial intelligence technology in the Heart Blockage surgeries will be the biggest step towards increasing the revenue growth of Heart Block Therapeutics Market” comments an analyst at Future Market Insights.
Heart Block Therapeutics Market: Competition Insights
The key companies dominating the Heart Block Therapeutics Market are St. Jude Medical, Medtronic, Bristol Myers Squibb, Novartis AG, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Edward Lifesciences Corporation, Abbott Laboratories, Natco Pharma, Pfizer Inc., Bayer AG, Astra Zeneca, Sanofi, Merck & Co., Inc., Gilead Sciences, Inc., F. Hoffmann-La Roche Ltd.
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.
In September 2019, Medtronic (USA) Received US Food and Drug Corporation clearance for its Next Generation Evolut PRO+ TAVR System for the Treatment of Symptomatic Severe Aortic Stenosis in Patients. The Evolut PRO+ TAVR System includes four valve sizes with an external pericardial tissue wrap that provides advanced sealing for the largest indicated patient treatment range and the lowest delivery profile currently on the market.
In March 2019, Abbott (USA) Received US Food and Drug Corporation Clearance Anthos Therapeutics for Cardiovascular Drug Development which focused on advancing next-generation targeted therapies for high-risk cardiovascular patients.
In February 2019, Novartis AG and Blackstone’s Life sciences announced the launch of Anthos Therapeutics for the development of cardiovascular drugs. As part of this launch, Novartis has licensed to Anthos MAA868, an antibody directed at Factor XI and XIa, key components of the intrinsic coagulation pathway.
In January 2019, India-based Natco Pharma announced the launch of valsartan sacubitril, a cardiovascular drug that is used to treat congestive heart failure in patients.
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
Information Source:
https://www.futuremarketinsights.com/reports/heart-block-therapeutics-market