Market Research Future (MRFR) states in its extensive report that the global myocardial ischemia market is set to reach a worth of USD 50,120.3 million during the forecast period (2017-2023). The increasing cases of coronary artery disease and diabetes coupled with growing obesity globally are driving the market growth. On top of that, growing awareness related to heart conditions, technological advancement in treatments, and rising numbers of hospitals and healthcare infrastructure around the globe have propelled the myocardial ischemia market expansion. Moreover, strong economic growth, disposable incomes of patients, and improved standard of living can fuel the market growth over the forecast period.
On the other hand, high cost of therapeutic surgeries impedes the market growth. However, the World Health Organization (WHO) has been actively launching new initiatives related to heart diseases which will, in turn, increase awareness and enlighten citizens on matters of heart health. Various government drives and initiatives are being implemented to address issues arising from obesity and substance abuse. These actions undertaken by authorities act as necessary incentive for the global market growth.
Growing trend in the myocardial ischemia market is increasing usage of myocardial perfusion imaging. It is a stress test which relies on imaging of a patient’s heart before and after physical activity to determine the effects of stress on the flow of blood through the coronary arteries and the heart muscle.
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Global Market for Myocardial Ischemia – Segmental Analysis
The global myocardial ischemia market is segmented on the basis of type, diagnosis & treatment, and end-user.
By type, the market is segmented on the basis of symptomatic and asymptomatic. The asymptomatic (silent) myocardial ischemia segment accounted for the largest market share in 2017. Growing number of smokers, family history of heart diseases, prevalence of cases of high cholesterol and high blood pressure, and lack of exercise can drive the growth in the segment.
By treatment & diagnosis, the market is segmented into treatment and diagnosis. The diagnosis segment is sub-segmented into imaging and stress test. On the other hand, the treatment segment is sub-segmented into medications and surgery. The treatment segment has gained significant traction owing to increasing prevalence of coronary heart disease and large population leading a stressful lifestyle. Thus, the treatment segment is estimated to hold largest market share till the end of the forecast period.
The end-users in the global myocardial ischemia market are hospitals & clinics, diagnostic centers, ambulatory surgery centers, and others.
Geographically, the global myocardial ischemia market is spread across the Americas, Europe, Asia Pacific, and the Middle East and Africa.
MRFR noted that the Americas accounted for the largest market share and will maintain its dominance throughout the forecast period. The Americas market is presumed to reach USD 18,130.3 million by 2023 at a CAGR of 6.21% from 2017 to 2023. This position was achieved due to rising prevalence of diabetes, obesity, lack of physical inactivity, and excessive alcohol consumption among the population in the region.
After America, Europe holds the largest market share owing to high number of cases related to cardiovascular diseases. Revolutionary technology, rising healthcare infrastructure, continuous researches conducted to enhance treatment procedures, and easy access to medical facilities and medication has led to market growth in the region. Moreover, obesity and stressful schedules have given way to expansion of the market considerably.
Asia Pacific is expected to garner high revenues at the fastest growth rate of about 6.42% during the forecast period due to rising prevalence of diabetes. Growing awareness about cardiovascular diseases and increasing geriatric population are major driving factors of the market in the region. Moreover, growing economies in the region and rising investments in healthcare facilities along with a growing number of hospitals make sure that the market gains significant traction in the region. Apart from these factors, government initiatives to generate awareness and knowledge regarding health issues also propel the market growth.
The Middle East and Africa market is estimated to witness passive growth, which can be attributed to less exposure and access to healthcare services and stringent government rules and regulations. Moreover, substandard healthcare infrastructure can deter the growth of the market in the region.
Global Market for the myocardial ischemia market – Competitive Dashboard
The market players in the global myocardial ischemia market are Boehringer Ingelheim International GmbH, Bayer AG, AstraZeneca, Taxus Cardium, ViroMed Co. Ltd., and Daiichi Sankyo Company Limited.
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