by The global myocardial infarction market encompasses life-saving medications and medical procedures for treating heart attacks. Myocardial infarction, commonly known as a heart attack, occurs when blood flow decreases or stops to a part of the heart, causing damage to the heart muscle. Heart attacks are primarily caused by coronary artery disease, which is the narrowing of the arteries due to plaques. Some key medications used in the treatment of myocardial infarctions include antiplatelets such as clopidogrel to prevent blood clots, beta blockers to reduce blood pressure and heart rate, ACE inhibitors for blood pressure control, and statins to lower cholesterol.
Medical procedures for myocardial infarctions range from primary percutaneous coronary intervention (PCI) or angioplasty to surgically performed coronary artery bypass grafting (CABG). The growing geriatric population and increasing prevalence of conditions like obesity, diabetes and high blood pressure are significant drivers for the rising incidence of cardiovascular diseases, thereby fuelling the need for heart attack treatment drugs and procedures.
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 key trends:
One of myocardial infarction market Size And Trends rise of telehealth and remote patient monitoring. The COVID-19 pandemic accelerated the adoption of telemedicine as patients postponed non-emergency procedures and physicians turned to virtual visits. Remote monitoring allows for the continuous collection of vital signs and symptoms from patients recovering from heart attacks at home. This enables early detection of complications and reduces readmission rates. Technological advancements are also supporting the delivery of advanced treatments. Stents are becoming smaller, drug-eluting and bioresorbable to facilitate improved blood flow and tissue healing. There is ongoing research into stem cell therapies and gene therapies for cardiac repair and regeneration post-heart attack.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the myocardial infarction market is low due to the high costs associated with R&D and clinical trials for new drugs and devices.
Bargaining power of buyers: The bargaining power of buyers is moderate since healthcare providers have some influence over prices however cardiac conditions have inelastic demand.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of alternative suppliers and brands in the market however costs associated with switching are relatively high.
Threat of new substitutes: The threat of new substitutes is low as innovative surgical techniques and devices take significant time and capital to develop and receive regulatory approvals.
Competitive rivalry: The rivalry among existing players is high due to the presence of many global and regional players offering similar products and services.
Key Takeaways
The Global Myocardial Infarction Market Demand is expected to witness high growth over the forecast period. Regionally, North America is anticipated to dominate the market owing to the increasing prevalence of cardiac conditions and technological advancements in the region.
Regional analysis:
North America is projected to account for the largest share of the global myocardial infarction market during the forecast period. This is attributed to the rising geriatric population, growing burden of cardiac diseases, availability of advanced healthcare facilities and favorable reimbursement policies in the region.
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, and Tata Communications Limited.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
