Myocardial Infarction is the medical name for heart attack. Heart attack is a fatal condition that occurs when blood flow to the heart muscle is suddenly interrupted, causing tissue damage. This is usually caused by a blockage in one or more coronary arteries. A blockage can form as a result of plaque buildup, which is primarily composed of fat, cholesterol, and cellular waste products.
Symptoms of myocardial infarction include chest pain or discomfort, heartburn, nausea, and sweating. Certain risk factors, such as age, tobacco use, high blood pressure, obesity, diabetes, illicit drug use, or stress contribute to the unwanted buildup of fatty deposits (atherosclerosis) that narrows arteries throughout the human body which then may cause heart attack.
Medications such as aspirin, antiplatelet agents, or pain relievers can be used to treat heart attack. In addition to medications, procedures such as coronary angioplasty and stenting, can be used to treat heart attack. A long, thin tube (catheter) is guided through an artery in the groin or wrist to a blocked artery in the heart during this procedure. If needed, coronary artery bypass surgery may be performed to restore the heart muscle's supply of blood.
Global Myocardial Infarction Market - Impact of the Coronavirus (COVID-19) Pandemic
The COVID-19 outbreak was first reported on December 31, 2019 in Wuhan, China. The World Health Organization declared COVID-19 as a pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 182 million cases and 3.95 million deaths due to COVID-19 were reported till July 2, 2021 across the globe.
Impact of COVID-19 on Demand and Supply of Myocardial Infarction Treatment
The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Many countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products. In 2020, the COVID-19 pandemic disrupted health-care delivery around the world, including delays in cardiovascular disease diagnosis and treatment. Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global myocardial infarction market during the forecast period. For instance, according to news article published in American College of Cardiology on 11 January 2021, surveys were submitted from 909 inpatient and outpatient centers performing cardiac diagnostic procedures in 108 countries. It was reported that during the pandemic, cardiac diagnostic procedure’s figures fell by 42% between March 2019 and March 2020, and 64% between March 2019 and April 2020. Transthoracic echocardiography decreased by 59%, trans esophageal echocardiography by 76%, and stress tests by 78%.
However, due to the increase in heart problems after the administration of COVID-19 vaccine, it is expected to propel the growth of global myocardial infarction market over the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC) since April 2021, thousands of cases of heart inflammation such as myocarditis and pericarditis were reported to the Vaccine Adverse Event Reporting System (VAERS), the inflammation occurred after administration of mRNA COVID-19 vaccination (i.e., Pfizer-BioNTech, Moderna) in the U.S.
The global myocardial infarction market is estimated to be valued at US$ 1,816.8 Mn in 2021, and is expected to exhibit a CAGR of 5.9 % over the forecast period (2021-2028).
|Base Year:||2020||Market Size in 2021:||US$ 1,816.8 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||5.9 %||2028 Value Projection:||US$ 2,714.8 Min|
Bristol-Myers Squibb Co., Bayer AG, Johnson & Johnson Services Inc., Sanofi S.A., Novartis International AG, AstraZeneca plc., Daiichi Sankyo Co Ltd, Boehringer Ingelheim International GmbH, Pfizer Inc., and Merck KGaA.
Figure 1: Global Myocardial Infarction Market Share (%) Analysis, By Drug Class, 2021
The prevalence of heart attack is the major factor that is expected to drive the growth of global myocardial infarction market over the forecast period.
The increasing prevalence of heart attack is expected to drive the growth of global myocardial infarction market. For instance, according to Centers for Disease Control and Prevention report 2019, in the U.S., every year, approximately 805,000 Americans experience heart attack, of these, 605,000 are first-time heart attacks, while 200,000 are repeat heart attacks and one in every five heart attacks is silent.
Research and Development activities
Increasing number of clinical trials for the treatment of castrate-resistant prostate cancer is expected to aid in the growth of the global myocardial infarction market over the forecast period. For instance, in May 2021, Recardio Inc., a clinical-stage life science company focused on regenerative therapies for cardiovascular diseases, completed its Phase 2 randomized, double-blind, placebo-controlled, safety, and efficacy study of dutogliptin in combination with filgrastim in early recovery post-myocardial infarction.
Global Myocardial Infarction Market – Regional Analysis
On the basis of region, the global myocardial infarction market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global myocardial infarction market over the forecast period, owing to the product launches and approvals. For instance, on July 16, 2020, AstraZeneca plc., a British-Swedish multinational pharmaceutical and biotechnology company, received Fast Track Designation in the U.S. for the development of Farxiga (dapagliflozin) to reduce the risk of hospitalization for heart failure (hHF) or cardiovascular (CV) death in adults after an acute myocardial infarction (MI) or heart attack.
Moreover, due to product approvals by European regulatory authorities for the treatment of heart diseases, Europe is expected to witness a significant growth in global myocardial infarction market over the forecast period. For instance, in February 2021, Sanofi S.A., a global biopharmaceutical company focused on human health, announced that the European Commission approved Pavix (clopidogrel) for use in adult patients with moderate to high-risk Transient Ischemic Attack (TIA) or minor Ischemic Stroke (IS) within 24 hours of the TIA or IS event in combination with aspirin. This new indication allows for a 21-day trial period, followed by long-term single anti-platelet therapy.
Figure 2: Global Myocardial Infarction Market Value (US$ Mn), by Region, 2021
Global Myocardial Infarction Market – Competitive Landscape
Major players operating in the global myocardial infarction market include Bristol-Myers Squibb Co., Bayer AG, Johnson & Johnson Services Inc., Sanofi S.A., Novartis International AG, AstraZeneca plc., Daiichi Sankyo Co Ltd, Boehringer Ingelheim International GmbH, Pfizer Inc., and Merck KGaA.
Myocardial Infarction is also known as heart attack. Heart attack occurs when one of the coronary arteries of the heart becomes suddenly blocked or has extremely slow blood flow.
The formation of a blood clot is the most common cause of a sudden blockage in a coronary artery (thrombus). The blood clot usually forms inside a coronary artery that has already been narrowed by atherosclerosis, a condition in which fatty deposits (plaques) accumulate along the inside wall of the artery.
Chest discomfort, pain, or discomfort in the upper body, shortness of breath, sweating, indigestion, dizziness, or extreme weakness, and anxiety are all symptoms of a heart attack. ECG and blood tests are conducted to diagnose heart attack. Drugs such as vasodilators, aspirin, and beta blockers are used to treat heart attack.
Market players and non-profit organizations are focused on initiatives related to heart attack, which is expected to contribute to the growth of the global myocardial infarction market over the forecast period. For instance, on May 17, 2021, the American College of Cardiology (ACC), a non-profit medical association, announce d that its’ Global Heart Attack Treatment Initiative (GHATI) had measurable positive effects on heart attack care delivery in low-and middle-income countries. The initiative was launched in 2019 with the goal of improving heart attack outcomes in low and middle-income countries by encouraging adherence to medical therapy based on guidelines.
Market players are focusing on product launches which is expected to strengthen their position in the global myocardial infarction market. For instance, on June 1, 2020, AstraZeneca plc., a leading international biopharmaceutical company, announced that its' drug Brilinta (ticagrelor) have been approved by the U.S. Food and Drug Administration (FDA), to reduce the risk of a first heart attack or stroke in high-risk patients with coronary artery disease (CAD), the most common type of heart disease.
Market players and government organizations are involved in expanding their global presence by adopting strategies such as acquisitions and partnerships, which is expected to drive the growth of the global myocardial infarction market. For instance, on October 4, 2020, Amgen Inc., a multinational biotechnology company, announced a new collaboration with two National Health Service (NHS) organizations in the UK: the North West Coast Innovation Agency and Imperial College Health Partners. This collaboration will aid in the fight against the "silent killer" of high cholesterol along the North West Coast of England, an area plagued by heart attacks, strokes, and premature death by cardiovascular diseases.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
Joining thousands of companies around the world committed to making the Excellent Business Solutions.View All Our Clients