by Myocardial infarction, also known as a heart attack, occurs when blood flow decreases or stops to a part of the heart, causing damage to the heart muscle. The global myocardial infarction market has witnessed significant growth driven by various factors such as the rising geriatric population, unhealthy lifestyles, and increasing number of cardiac cases. Advancements in diagnostic and treatment options have also propelled the market growth. Diagnostic tests like electrocardiograms, blood tests, cardiac CT scans, cardiac MRIs help diagnose myocardial infarction accurately and promptly. Non-invasive treatments including angioplasty and stenting help reopen blocked arteries and restore blood flow. The global myocardial infarction market is estimated to be valued at US$ 2037.51 Mn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends fueling the myocardial infarction market growth is the increasing adoption of regenerative therapies. Regenerative therapies aim to regenerate the damaged heart tissue and improve heart functions after a myocardial infarction. Cell-based therapies using stem cells harvested from bone marrow, adipose tissue, or umbilical cord hold promise to promote repair of damaged heart muscles. Some startup companies are developing injectable biomaterial therapies containing growth factors that stimulate regeneration of new cardiac cells and blood vessels. Clinical research studies evaluating the efficacy and safety of regenerative therapies are ongoing and newer therapies in the pipeline could transform heart attack treatment over the coming years.
SWOT Analysis
Strength: The myocardial infarction market is witnessing significant advancements in treatment and diagnostic technologies which is improving clinical outcomes. New technologies like drug-eluting stents and minimally invasive surgical techniques are reducing recovery times.
Weakness: High cost of treatment due to expensive medical devices and drugs used which affects the affordability of care. Lack of awareness in some regions about heart attack symptoms and risk factors leading to delayed treatment.
Opportunity: Rising geriatric population increasing the risk of cardiovascular diseases provides scope for market growth. Untapped opportunities exist in developing nations due to increasing healthcare expenditures.
Threats: Stringent regulatory norms for product approval delays market access. Risk of product recalls if quality and safety issues arise with devices. Reimbursement policies varying across regions poses challenges for wider adoption.
Key Takeaways
The Global Myocardial Infarction Market Size is expected to witness high growth over the forecast period driven by the rising prevalence of coronary artery disease and notable medical advancements. The market size is projected to reach US$ 2037.51 Mn in 2023 growing at a CAGR of 22% from 2023 to 2030 forecast period.
Regional analysis: North America currently dominates the myocardial infarction market owing to advanced healthcare facilities and notable healthcare spending on cardiac care. However, Asia Pacific is expected to grow at the fastest pace due to improving access to healthcare services, availability of low-cost treatment options, and increasing government initiatives to spread awareness about cardiovascular diseases in highly populated nations like India and China.
Key players: Key players operating in the myocardial infarction market are 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, Tata Communications Limited. These companies are focusing on new product launches and mergers & acquisitions 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
