by Myocardial infarction, commonly known as heart attack, occurs due to decreased blood flow to certain areas of the heart due to blockage of blood vessels supplying heart muscle. It occurs due to rupture or instability of atherosclerotic plaques in coronary arteries. The myocardial infarction market includes drugs such as thrombolytic therapy drugs, antiplatelet agents, beta blockers, Angiotensin-converting enzyme (ACE) inhibitors, angiotensin II receptor blockers, anticoagulants and statins. These drugs are used for treating myocardial infarction. Thrombolytic therapy drugs are administered to break down blood clots and restore blood flow in coronary arteries.
The global Myocardial Infarction Market is estimated to be valued at Us$ 2347.22 Bn in 2024 and is expected to exhibit a CAGR Of 22.% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing Awareness about Heart Diseases is expected to be Flourished by Increasing Awareness about Heart Diseases. The increasing awareness about risk factors, symptoms, and the need for early detection and prevention of cardiovascular diseases has led to high demand for myocardial infarction diagnosis and treatment. Healthcare campaigns organized regularly by governments and nonprofit organizations to educate people about lifestyle modification, regular health checkups and timely medical intervention are expected to boost early detection and treatment seeking behavior. Furthermore, growing geriatric population is more prone to develop heart diseases thus driving the market growth over the forecast period. According to 2016 estimates by the United Nations (UN), there were around 962 million people aged 60 years or above globally. This number is expected to reach up to 2.1 billion by 2050.
Segment Analysis
The myocardial infarction market can be segmented based on type, diagnosis, treatment and end user. Based on type, the market is segmented into STEMI and NSTEMI. STEMI dominates the market as it represents the more severe form of heart attack where a major coronary artery is completely blocked. This leads to cell death in a large area of the heart muscle and requires immediate treatment to restore blood flow.
PEST Analysis
Political: Governments across the world are increasingly focused on tackling cardiovascular diseases through initiatives to raise awareness, fund research, and provide subsidized treatments.
Economic: Rising incomes and unhealthy lifestyles have led to a growth in risk factors for heart attacks. This is driving the myocardial infarction market size.
Social: Greater awareness about heart health and early symptoms of heart attack have encouraged more people to seek timely medical help.
Technological: Advancements in drugs, devices and diagnostic technologies have improved treatment outcomes and survival rates for heart attack patients. This is expected to boost market growth.
Key Takeaways
The Global Myocardial Infarction Market Demand is expected to witness high growth over the forecast period driven by an aging population, growing prevalence of risk factors such as obesity, diabetes and smoking.
Regional analysis:
North America currently dominates the market owing to clear reimbursement guidelines, availability of advanced healthcare facilities and increasing patient awareness. The Asia Pacific region is expected to grow at the fastest pace led by India and China on account of rising healthcare expenditure and modernization of health systems.
Key players:
Key players operating in the myocardial infarction market include AT&T Inc., Verizon Communications Inc., NTT Communications Corporation, China Telecom Corporation Limited, Deutsche Telekom AG, British Telecommunications plc (BT), Orange S.A., Telefonica S.A., Sprint Corporation (now part of T-Mobile), CenturyLink (now rebranded as Lumen Technologies), Vodafone Group plc, SoftBank Group Corp., Level 3 Communications, Telstra Corporation Limited, and Tata Communications Limited. These players are focusing on new product launches and strategic collaborations to strengthen their market position.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
