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. The signs and symptoms of a heart attack include chest pain or discomfort, shortness of breath, nausea, vomiting, and heart palpitations. The main causes of myocardial infarction are coronary heart disease, atherosclerosis, blood clots, and high blood pressure. Heart attacks require emergency medical treatment to restore blood flow to the heart which can be done through medications such as clot-busting drugs, angioplasty, and coronary artery bypass surgery.
The global Myocardial Infarction Market is estimated to be valued at Us$ 2347.22 Bn or Mn in 2023 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:
The myocardial infarction market is estimated to witness high growth, owing to the increasing incidence and prevalence of cardiovascular diseases around the world. According to the World Health Organization (WHO), cardiovascular diseases are the number one cause of death globally, responsible for over 17.9 million deaths each year. Risk factors for cardiovascular diseases include tobacco use, unhealthy diet, physical inactivity, harmful use of alcohol, hypertension, diabetes, and stress. Moreover, rising geriatric population, obesity rates, and pollution levels are also driving the adoption of treatments for myocardial infarction. However, high cost of treatments and lack of awareness in developing regions are some factors that may hinder the market growth over the forecast period.
SWOT Analysis
Strength: The myocardial infarction market is experiencing strong growth due to rising geriatric population and increasing incidence of obesity and cardiovascular diseases across the globe. In addition, growing awareness regarding early diagnosis and treatment of myocardial infarction is further expected to boost market revenue. Advances in medical devices and drug delivery systems are allowing improved treatment of myocardial infarction.
Weakness: However, high cost of treatment procedures and invasive medical devices remains a challenge for widespread adoption, especially in low and middle income countries. Lack of advanced healthcare infrastructure and skilled medical professionals in underdeveloped regions also hampers timely diagnosis and management of myocardial infarction.
Opportunity: The market sees lucrative opportunities from ongoing research on stem cell therapy and gene therapy for myocardial regeneration post infarction. Rising focus on preventive healthcare through monitoring of lifestyle diseases could help lower the risk of myocardial infarction long term. Telehealth and digital health solutions also provide potential for remote monitoring of heart patients.
Threats: Stringent regulatory approval process and lengthy clinical trials pose threats to new product launches. Recall of faulty medical devices and adverse effects of certain drugs pose reputational risks. Rising healthcare costs and budgetary constraints by governments remains a challenge.
Key Takeaways
The Global Myocardial Infarction Market Demand is expected to witness high growth over the forecast period.
Regional analysis:
The North American region currently dominates the myocardial infarction market owing to increasing number of percutaneous coronary intervention (PCI) procedures and cardiac bypass surgeries being performed. Favorable reimbursement policies for inpatient and outpatient care in the US and Canada are other factors supporting regional market growth.
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.
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