The Cardiac Arrhythmia Therapeutics Market is expected to register a CAGR of 4.3% during the forecast period. Arrhythmia is defined as irregular or abnormal heartbeat. Arrhythmia is of two types bradycardia and tachycardia. When the heartbeat is too slow, less than 60 beats per minute, it is known as bradycardia and when it is too fast, more than 100 beats per minute, it is known as tachycardia. Some of the symptoms of arrhythmia are fast or slow heartbeat, sweating, shortness of breath, chest pain, skipping beats and dizziness. Coronary artery disease, high blood pressure, obesity/overweight, excessive use of alcohol, stress, high cholesterol, smoking are the factors which can increase the chance of developing arrhythmia.
The most common type of arrhythmia is atrial fibrillation, which causes an irregular and fast heartbeat. As per the study published in the Journal of Geriatric Cardiology, atrial fibrillation affects millions of people worldwide and left untreated which increases the risk and severity of heart failure, stroke, and death. Furthermore, atrial fibrillation (AF) is predicted to affect 17.9 million in Europe by the year 2060.
Increasing incidences of obesity, chronic diseases, rising consumption of alcohol and cigarettes, high stress, and unhealthy lifestyles, coupled with the growing awareness regarding early diagnosis of cardiovascular diseases are the key driving factors in cardiac arrhythmia therapeutics market.
Key Market Trends
Sodium-channel Blockers Segment is Expected to Hold a Major Market Share in the Cardiac Arrhythmia Therapeutics Market
- Sodium channel blockers are class of drugs that act by inhibition of sodium influx through cell membranes. Blockade of Sodium channels slows the rate and amplitude of initial rapid depolarization, reduces cell excitability and conduction velocity. These blockers are used for the treatment of atrial fibrillation, ventricular tachycardia, supraventricular tachycardia, symptomatic ventricular premature beats, and prevention of ventricular fibrillation.
- According to the Centers for Disease Control and Prevention (CDC), estimates approximately 2 percent of people younger than 65 years old have atrial fibrillation, while about 9 percent of people ages 65 and older have it. Moreover, in the United States, prevalence rate of atrial fibrillation is estimated to rise to 12.1 million by the year 2030.
- Sodium-channel blockers segment holds a significant market share in the cardiac arrhythmia therapeutics market and is anticipated to show similar trend over the forecast period due to easy to consume, no pain, low cost and extended-release effect of drugs.
- Increasing incidences of chronic diseases worldwide, technological advancements and growing awareness regarding early diagnosis of diseases are the key driving factors in the sodium-channel blockers segment.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global cardiac arrhythmia therapeutics market due to increasing geriatric population, high drug consumption & costs, and growing incidence of cardiac diseases. Centers for Disease Control and Prevention, estimates approximately 2.7 million and 6.1 million people in the United States have atrial fibrillation. In addition, in the year 2017, atrial fibrillation was responsible for 26,077 deaths in the United States. Furthermore, presence of top pharma and biotech companies, increasing healthcare spending and presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.
The Cardiac Arrhythmia Therapeutics Market is fragmented competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Mylan N.V., Teva Pharmaceutical Industries Ltd, Pfizer Inc, Sanofi S.A, Upsher-Smith Laboratories, LLC, Covis Pharma, Novartis AG, Mayne Pharma Group Limited and Eli Lilly and Company.
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Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Growing Geriatric Population and Incidence of Chronic Diseases
4.2.2 Increasing Investment in Research and Development
4.3 Market Restraints
4.3.1 Stringent Regulatory Norms
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Sodium-channel Blockers
5.1.3 Potassium-channel Blockers
5.1.4 Calcium-channel Blockers
5.1.5 Other Drug Class
5.2.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.2.4 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
5.2.5 South America
18.104.22.168 Rest of South America
6.1.1 Mylan N.V.
6.1.2 Teva Pharmaceutical Industries Ltd
6.1.3 Pfizer Inc
6.1.5 Upsher-Smith Laboratories, LLC
6.1.6 Covis Pharma
6.1.7 Novartis AG
6.1.8 Mayne Pharma Group Limited
6.1.9 Eli Lilly and Company
A selection of companies mentioned in this report includes:
- Mylan N.V.
- Teva Pharmaceutical Industries Ltd
- Pfizer Inc
- Upsher-Smith Laboratories, LLC
- Covis Pharma
- Novartis AG
- Mayne Pharma Group Limited
- Eli Lilly and Company