Global Myocardial Fibrosis Market Size By Product Type (Small Molecule Therapeutic Modality, Protein Therapeutic Modality), By Application (Hospital, Clinics), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Myocardial Fibrosis Market size was valued at USD 765.4 Million in 2022 and is projected to reach USD 1.6 Billion by 2030, growing at a CAGR of 6.1% from 2023 to 2030.
The Global Myocardial Fibrosis Market has grown rapidly due to the increasing incidence of cardiac fibrosis, growing consumer awareness regarding the disease, rising demand for Myocardial Fibrosis treatment, technological advancement as well as the rise in healthcare spending by the governments. These factors will drive the market growth significantly. The Global Myocardial Fibrosis Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Myocardial Fibrosis Market Definition
Myocardial fibrosis, also known as cardiac fibrosis, is a condition characterized by the degeneration of the heart’s muscle cells known as myocytes. It is part of a group of diseases known as fibrosis, which is defined by the solidification or scarring of tissue. Myocardial fibrosis affects not only the heart but also other organs like the lungs and liver. Myocardial fibrosis is also defined as a thickening of the heart valves caused by an abnormal proliferation of cardiac fibroblasts.
Chest pain, some abdominal swelling, nausea, and fatigue are the common symptoms. Myocardial fibrosis, also known as myocardial calcification, is generated by the repeated aggravation of myocardial ischemia and hypoxia caused by moderate to severe coronary atherosclerotic stenosis, finally leading to heart failure with IHD or chronic ischemic heart disease.
Global Myocardial Fibrosis Market Overview
Okay, so let's dive into the market. This section is all about the nitty-gritty – the drivers pushing the market forward, the restraints holding it back, the exciting opportunities popping up, and the tough challenges the industry's facing. Think of it as the heart of the report! This Global Myocardial Fibrosis Market report gives you a sneak peek at how the market's expected to grow in terms of cold, hard cash over the next few years. Why the optimism? Well, things like more people getting cardiac fibrosis, folks becoming more aware of the disease, a higher demand for Myocardial Fibrosis treatment, cool new tech, and governments investing more in healthcare are all fueling some pretty remarkable growth. These factors will really boost the market, believe us!
Think about it – what's fueling the world's need for Myocardial Fibrosis treatments? It's those big, growing markets! Lots of companies are jumping into the Myocardial Fibrosis game, spotting chances to grow in the future. The ones who can move fast and get their treatments further along are going to be the winners. But, it's not all smooth sailing. Some companies are struggling to finish their clinical trials on time, and not having enough money is holding them back from getting their products to those crucial Phase 3 and Phase 4 stages.
Based on Product Type, The market is segmented into Small Molecule Therapeutic Modality, Protein Therapeutic Modality, Peptide Therapeutic Modality, Endoglin Antibody Therapeutic Modality, Stem Cell Therapeutic Modality, RNA Therapeutic Modality, and Others. The Small Molecule Therapeutic Modality segment accounts for the highest revenue share of the Global Myocardial Fibrosis Market in 2020 and is expected to dominate the market over the forecast period owing to they are the most commonly investigated molecules for the treatment of myocardial fibrosis.
Myocardial Fibrosis Market, By Application
Hospital
Clinics
Research Laboratories
Based on Application, The market is segmented into Hospital, Clinics, and Research Laboratories. The Hospital segment is expected to hold the largest revenue share of the Global Myocardial Fibrosis Market during the forecast period owing to the increasing number of patients suffering from myocardial fibrosis, and rising consumer awareness about the disease. Additionally, the availability of various diagnostics and treatment facilities, higher purchasing power, and the presence of highly skilled healthcare professionals are driving the growth of the Global Myocardial Fibrosis Market in the hospital segment.
Myocardial Fibrosis Market, By Geography
North America
Europe
Asia Pacific
Rest of the world
On the basis of Regional Analysis, The Global Myocardial Fibrosis Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Among the regional markets, North America accounts for the largest revenue share in Global Myocardial Fibrosis Market in 2020 and is expected to retain its dominance throughout the forecast period. The revenue growth in the North American market is mainly attributed to the increased investment in R&D activities for the development of technologically advanced treatment procedures for myocardial fibrosis.
Additionally, the increasing geriatric population, rising incidence and prevalence of myocardial fibrosis, rising healthcare sectors, presence of skilled healthcare professionals, and wide availability of technologically advanced treatment procedures are the major factors that boost the market growth across the region.
Key Players
The “Global Myocardial Fibrosis Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Merck, Evotec AG, Miragen Therapeutics, Tracon Pharmaceuticals, Daewoong Pharmaceutical, Galectin Therapeutics, GTx, Invivosciences, Lead Discovery Center, MandalMed.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
In April 2020, Merck known as MSD outside the United States and Canada, announced the launch of ONTRUZANT (trastuzumab-dttb), a biosimilar to the reference biologic medicine Herceptin, in the United States. ONTRUZANT is available in single-dose vials of 150 mg and multiple-dose vials of 420 mg.
In November 2015, miRagen Therapeutics, Inc., a biopharmaceutical company developing novel microRNA-based therapeutics, announced the start of a Phase 1 clinical trial for anti-fibrosis product candidate MRG-201, a synthetic microRNA mimic (promiR) to microRNA-29b. The Phase 1 clinical trial is being conducted in healthy volunteers and may be expanded to include patients with cutaneous scleroderma.
In September 2015, Evotec AG entered into a four-year research collaboration agreement with Pfizer Inc. in the field of tissue fibrosis.
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