Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
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).
Myocardial Infarction Market Report Coverage
||Market Size in 2021:
||US$ 1,816.8 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 2,714.8 Min
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Drug Class: Antiplatelet Agents, Glycoprotein IIb/IIIa Inhibitors, Antithrombotic Agents, Beta-adrenergic Blockers, Vasodilators, Angiotensin-converting Enzyme (ACE) Inhibitors, Angiotensin-receptor Blockers, Analgesics, Thrombolytics
- By Route of Administration: Oral, Injectable
- By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
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.
- Increasing cases of heart attack
- Increasing product launches and approvals
- Increasing research and development activities by the market players
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.