Refractory Angina Treatment Market will grow at highest pace owing to rising development of innovative therapies
Refractory Angina Treatment Market will grow at highest pace owing to rising development of innovative therapies
Blog Article
Refractory angina Treatment refers to the treatment given to the patients suffering from refractory angina pectoris, a condition characterized by severe angina symptoms not adequately controlled by conventional therapy. Refractory angina occurs when a blockage in the coronary arteries reduces blood flow to the heart muscle. The conventional therapies for refractory angina include medication such as nitrates, beta blockers, calcium channel blockers, as well as surgeries such as coronary artery bypass grafting or angioplasty. However, when these treatment options are not effective in controlling the angina symptoms, refractory angina treatments such as enhanced external counterpulsation therapy, spinal cord stimulation, and cardiac contractility modulation are considered.
The Global Refractory Angina Treatment Market is estimated to be valued at USD 200.1 Mn in 2024 and is expected to reach USD 312.1 Mn by 2031, growing at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Key Takeaways
Key players operating in the Refractory Angina Treatment Market are Microport Scientific Corporation, Imricor Medical Systems, Inc, SphygmoCor Ltd, and Vascular Dynamics Inc. MicroPort Scientific Corporation holds a major share in the market with its enhanced external counterpulsation therapies product Cardiowave.
The increasing prevalence of coronary heart disease and rising cases of refractory angina are major factors fueling the demand for refractory angina treatments. According to a report by the British Heart Foundation, coronary heart disease is one of the leading causes of death in the UK and accounted for over 73,000 deaths in 2019.
Technological advancements in refractory angina treatment procedures such as innovative cardiac contractility modulation devices are also expected to support the market growth. For instance, Impulse Dynamics has developed an optimized CCM therapy, Optimizer Smart CCM, which features enhanced programmability and remote monitoring capabilities.
Market Trends
Increasing clinical research activities to evaluate the efficacy and safety of new generation refractory angina treatments. Major companies are conducting late-stage clinical trials to expand the indications of their products.
Growing focus on developing minimally invasive therapies. Companies are engaged in developing novel minimally invasive therapies such as nerve stimulation devices to reduce the risk of complications associated with current treatment options.
Market Opportunities
Potential in emerging markets owing to rising awareness about cardiac disease treatment options. Emerging countries in Asia Pacific and Latin America offer high growth potential for refractory angina treatment providers.
Huge opportunities in developing novel drug therapies and gene therapies for refractory angina. Current unmet needs in the management of refractory angina indicate scope for innovative drug formulations.
Impact of COVID-19 on Refractory Angina Treatment Market Growth
The outbreak of COVID-19 pandemic has severely impacted the growth of refractory angina treatment market globally. During the initial phase of the pandemic, the patient visits to healthcare facilities declined sharply due to fear of virus exposure and lockdown restrictions imposed by various governments. This led to postponement of non-emergency medical procedures including refractory angina treatment procedures which in turn negatively affected the market revenues.
However, with lifting of lockdowns and development of treatment protocols, the demand for refractory angina treatment is expected to regain lost momentum in coming years. The healthcare providers are now well prepared and following necessary precautions to offer treatment services while protecting patients and staff from virus exposure. The rising awareness about managing chronic conditions is further anticipated to drive individuals towards seeking medical help for refractory angina symptoms post pandemic. Several pharma companies are also focusing on developing more effective and targeted treatment options to cater to unmet needs emerged during this crisis.
Geographical Regions with Highest Refractory Angina Treatment Market Value
North America dominates the global refractory angina treatment market accounting for over 35% share in terms of value. High incidence of chronic ischemic heart disease, existence of advanced healthcare infrastructure and availability of specialized clinicians are some factors contributing to North America's leadership position in this market. The regional market is anticipated to maintain its dominance driven by continuous technological advancements, rising geriatric population and increasing healthcare spending in the United States.
Asia Pacific is identified as the fastest growing regional market for refractory angina treatment. Factors such as growing medical tourism industry, rapidly evolving healthcare sector and improving access to modern treatment modalities are supporting the market growth of Asia Pacific. Furthermore, rising incidences of cardiovascular diseases due to lifestyle changes, smoking and obesity in developing Asian countries including India and China will fuel the demand for refractory angina management over the forecast period.
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