Hypertrophic Cardiomyopathy (HCM) Therapeutics Market Drivers
Demand for Hypertrophic Cardiomyopathy (HCM) therapeutics is expected to grow over the forecast period, owing to increasing prevalence of hypertrophic cardiomyopathy worldwide. For instance, according to the American Heart Association (AHA): March 2016, hypertrophic cardiomyopathy affects around 500,000 people in the U.S annually. Furthermore, according to the European Heart Journal, July 2014 findings, HCM occurs in 1:500 people in the general population worldwide, which reported around 700,000 affected Americans. Also, around 2 million people in India and China are affected with hypertrophic cardiomyopathy.
Growing number of research studies in the field of hypertrophic cardiomyopathy treatment by private and government organizations lead to develop an efficient treatment option such as calcium channel blockers and antiarrhythmic agent, enabling significant traction in these market. For instance, in May 2018, MyoKardia, Inc. initiated the PIONEER open-label extension (OLE) study of its investigational drug: mavacamten, to be used in symptomatic, obstructive hypertrophic cardiomyopathy. Furthermore, a study published in Journal of General Physiology in May 2018, stated that, researchers from Washington State University discovered link between genetic mutation to hypertrophic cardiomyopathy (HCM) and mode of disrupting the heart’s normal function.
However, high treatment cost of hypertrophic cardiomyopathy in the emerging economies is restraining growth of the Hypertrophic Cardiomyopathy (HCM) therapeutics market. In the emerging economies such as China and India, lack of private or governmental medical insurance programmes create major healthcare delivery barrier for cardiac patients who requires longitudinal care and expensive technology such as open heart surgery and implantable Cardioverter Defibrillators (ICDs). For instance, according to the European Heart Journal July 2014, around 70% of ICDs cost in India are paid directly by patients and families and remaining 20% are under state governmental programmes and 10% are covered by private insurance, including employer-sponsored plans.
Hypertrophic Cardiomyopathy (HCM) Therapeutics Market Report Snapshots
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