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. Heart attack can cause significant health problems and even death. A heart attack is primarily caused by coronary artery disease, which refers to the narrowing or blocking of the coronary arteries due to a build-up of plaque in the arteries. Commonly experienced symptoms of a heart attack include chest pain, shortness of breath, nausea, and more. Early diagnosis and effective treatment is crucial for better outcomes for heart attack patients.
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 Opportunity :
The global ageing population presents a major opportunity for growth in the myocardial infarction market over the forecast period. Population ageing is a major demographic shift currently occurring in many countries globally. Between 2023 and 2030, those aged 60 and older are projected to account for 20% of the global population, growing from 1.1 billion to 1.4 billion over the period. With increasing age comes an associated increase in the risk of cardiovascular disease, of which myocardial infarction is a major manifestation. Older individuals are particularly vulnerable to developing myocardial infarction and require focused treatments. Treatment options that are tailored specifically to the needs of elderly myocardial infarction patients can lead to significant gains for players in the market.
Porter's Analysis
Threat of new entrants: The myocardial infarction market requires high R&D investments and regulatory approvals, thereby deterring new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and bargaining power of large hospital groups.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and need for adherence to quality and regulatory standards.
Threat of new substitutes: Threat of substitutes is low due to lack of alternative treatment options for myocardial infarction.
Competitive rivalry: High due to presence of many established players.
SWOT Analysis
Strength: Advanced treatment options such as percutaneous coronary intervention surgeries and drug-eluting stents. Increasing government funding for cardiac disease treatment and awareness.
Weakness: High cost of surgeries, devices and drugs. Lack of awareness about symptoms in developing regions.
Opportunity: Growth in healthcare expenditure in emerging nations. Rising geriatric population worldwide.
Threats: Stringent regulatory approvals. Risk of product recalls.
Key Takeaways
The Global Myocardial Infarction Market Growth is expected to witness high growth at a CAGR of 22% during the forecast period of 2023 to 2030. The market size reached US$ 2037.51 Mn in 2023 and is estimated to surpass US$ 7000 Mn by 2030.
Regional analysis - North America currently dominates the market due to increasing healthcare expenditure, rising obesity rates and growing elderly population. Asia Pacific is fastest growing region attributed to vast patient pool, improving access to healthcare facilities and growing medical tourism.
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.
Explore more information on this topic, Please visit-
https://www.dailyprbulletin.com/myocardial-infarction-market-share-size-and-growth-share-trends-analysis-demand-forecast-2/
Explore more trending article related this topic:
https://allmeaninginhindi.com/aerial-imaging-capturing-new-perspectives-from-above/
Comments
0 comment