Myocardial Infarction Therapeutics Market Size, Share, Growth and Industry Analysis by Type (Analgesics, Antiplatelet Agents, Vasodilators, Thrombolytics And Anti-Thrombotic Agents, Glycoprotein IIB/IIIA Inhibitors, Î’ Adrenergic Blockers, and Others), By Application (Hospitals, Hospital Pharmacies, Drug Stores, and Online Drug Stores) Regional Forecast To 2031

Updated On: 01 April 2024

Myocardial Infarction Therapeutics Market Report Overview

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The myocardial infarction therapeutics market size is anticipated to be worth USD 80.879 billion in 2022 and the market is projected to touch USD 107.955 billion by 2030 with a CAGR of 2.8 % during the forecast period. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Myocardial infarction is a medical term for what we call heart attack. This disease is characterized by the sudden shortage of blood supply to the heart. When there is a shortage of blood supply to the cardiac muscles heart attacks happen. This can happen when the coronary arteries are blocked. The risk from this disease can be reduced if proper treatments are taken. Myocardial infarction therapeutics can help in reducing the risk of this.  

Unhealthy lifestyle of people that involves unhealthy food habits, smoking, and drinking is tend to increase the risk of heart attacks. This is considered as the latest development in the market.

Increasing facilities to conduct research and developments to find cures for cardiac arrests is amplifying the market growth. People are also becoming more aware of the cardiac arrest risks. All of these factors have contributed in the growth of the myocardial infarction therapeutics market share.

COVID-19 impact: Increasing Risk of Heart Attacks Post Pandemic Increased Market Growth

The pandemic of COVID-19 created a lot of problems. Along with becoming a financial obstacle it also created a major health crisis. People who were once infected with COVID-19 were at a higher risk of experiencing myocardial infarctions.

As the risk increased people became more aware about the need to take precautions to avoid any such heart attacks in the future. Myocardial infarctions therapeutics is of great help to get the right treatment. Hence there was a drastic rise in the demand for this medical device. The market experienced a tremendous growth during pandemic. 

LATEST TRENDS

"Sedentary Lifestyle of People to Increase Market Growth"

People are adopting themselves to unhealthy lifestyle in the recent days. Sedentary lifestyle among young generation is mainly responsible for majority of cardiac arrests. This is the latest scenario that is driving the market growth.

Lack of exercise, lack of a health diet, and increasing rate of obesity among people is the primary reason for the occurrence of heart attack. Another factor is the increasing population who are opting for smoking and drinking. According to the American Heart Association (AHA) people who drink and smoke are exposed to higher risks of myocardial infarctions. All these factors are driving the myocardial infarction therapeutics market growth.

Myocardial Infarction Therapeutics Market Segmentation

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• By Type:

The market can be divided on the basis of type as follows:

Analgesics, antiplatelet agents, vasodilators, thrombolytics and anti-thrombotic agents, glycoprotein IIB/IIIA inhibitors, β adrenergic blockers, and, others. The analgesics segment is projected to hold the dominant market share through 2028.

• By Application:

Classification based on application is as follows:

Hospitals, hospital pharmacies, drug stores, online drug stores. The hospital segment is predicted to dominate the market through the forecast period.

DRIVING FACTORS

"Increasing Research and Developments to Amplify Market Growth"

The prevalence of heart attacks is increasing day by day. Many young people are also facing the risk of this health issue. Hence there have been a lot of research and development activities to find a long, and sustainable solution to prevent the frequent occurring of myocardial infarctions. 

Castrate resistant prostate cancer is increasing in people and a lot of clinical trials are being conducted to find the cause and cure for this. Many companies are focusing on developing regenerative therapies to reduce the risk of cardiovascular diseases. These developments have boosted the market growth.

"Rising Awareness Among People About Heart Health to Augment Market Development"

CVDs or cardiovascular diseases are increasing at an alarming rate globally. People are becoming more aware of the risks imposed by heart related diseases. Besides smoking, drinking, and following an unhealthy lifestyle, strenuous and extensive workout can also cause cardiac arrests.

Intake of drugs, and steroids can also increase the risk of this disease. The educated sector of the society is taking a lot of precautions to take good care of their cardiac health. The increasing awareness among people is one of the important factors driving the myocardial infarctions therapeutics market growth.

RESTRAINING FACTOR

"High Cost of Myocardial Infarctions Therapeutics to Decrease Market Growth"

Remedies for heart diseases are not affordable. As a result, a lot of people will not be able to opt for treatments to their heart diseases. This is a major factor preventing the growth of the market.

Along with the high costs involved, treatment for myocardial infarctions is highly complicated and do not always guarantee success. Sometimes patients also suffer from the side effects of these treatments. All of these factors can hamper the growth of the market.

Myocardial Infarction Therapeutics Market Regional Insights

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"North America to Dominate Market During Forecast Period"

North America is predominantly occupying the market share. The main reason for the increasing market growth is increasing population of aged people. Aged people are at a higher risk of experiencing heart attacks

 Also, the growing prevalence of co-morbidities is expected drive the market share. High scope for scientists and doctors to work on research and development to find a cure for cardiovascular problems is increasing the growth of myocardial infarctions market in North America.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Novartis NV (Switzerland)
• Daiichi Sankyo Company Limited (Japan)
• Bristol-Myers Squibb Company (U.S.)
• Boehringer Ingelheim GmbH (Germany)
• AstraZeneca Apotex (U.K.)
• Sandoz (Switzerland)
• Par Pharmaceutical Companies (U.S.)
• Mylan NV (U.S.)
• Pfizer (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.