Rise in prevalence of chronic diseases, such as coronary artery disease, vascular diseases, and ischemic heart disease will expand the market growth

calendar_today 23 August, 2022 person_outline Growth Plus Reports

According to the deep-dive market assessment study conducted by Growth Plus Reports, the global acute coronary syndrome market was pegged at ~US$ 30.3 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of ~10.5% from 2022 to 2030.

Over the duration of the forecast period, the global acute coronary syndrome market is anticipated to expand significantly due to the increased incidence of lifestyle-related diseases like diabetes, elevated cholesterol levels, and obesity. In addition, market expansion is projected to occur over the next coming years as a result of increasing rates of hypertension, drug usage, and smoking addiction. One of the main drivers of the acute coronary syndrome (ACS) market's expansion is a changing lifestyle coupled with changed dietary preferences.

Acute coronary syndrome develops when there is less blood flow through the arteries. The inability of the heart muscles to work normally in this disease might lead to a heart attack if it is not addressed in time. Supportive medical reimbursement programmes, increasing personal disposable income, and expanding healthcare infrastructure are projected to fuel ACS market expansion over the projection period.

Rapid technological advancements have improved cardiovascular disease management. In order to improve treatment plans and boost health outcomes, current healthcare monitoring software and equipment have improved communication between patients and healthcare practitioners. As a result, the global market for acute coronary syndrome is anticipated to benefit significantly from this throughout the forecast period. Moreover, governments in developing nations (such as those in China, Brazil, Russia, India, and South Africa) are also reforming public healthcare and facilitating easier access to medications. Together, these two elements result in improved market freedom and innovation in clinical research in developing markets. However, costs would rise as a result of substantial investments, complicated cardiac devices, and rising costs. The additional cost would cause patients to receive delayed care in hospitals and clinics, and the approval process for these items is quite demanding and time-consuming. Many products struggle to get approval because they do not adhere to standards, which may hinder the market expansion.

The market for acute coronary syndrome in North America is anticipated to expand significantly over the projected timeframe. The rise in the prevalence of chronic diseases like coronary artery disease, ischemic heart disease, and vascular diseases, the growing geriatric population, and the wide range of products offered by market players are the main factors propelling the acute coronary syndrome market's growth in the coming years. Moreover, the market in the region is fuelled by a strong healthcare system, which has increased the amount of acute coronary syndrome cases being treated.

It is forecasted that the market in Europe will be driven by an increase in the prevalence rate of cardiovascular illnesses, an increase in the number of elderly patients, a high incidence rate of lifestyle disorders, and technological improvements.

Asia Pacific is predicted to experience rapid growth due to increased efforts by governments of developing nations to strengthen health care infrastructure and technical advances in acute coronary syndrome treatment. Furthermore, along with these factors, the Asia Pacific market is anticipated to be driven by expanding medical tourism, rising disposable income, and increased awareness in Asia Pacific over the forecast period.

Some of the prominent market players in the global acute coronary syndrome include Teva Pharmaceuticals, Pfizer Inc., Dr. Reddy’s Laboratories, Boehringer Ingelheim, Johnsons & Johnsons, Merck & Co., Novartis AG, Amgen, Inc., AbbVie, Baxter International Inc., Portal Pharmaceuticals, AstraZeneca, Serum Institute of India, Beijing Minhai Biotechnology, GlaxoSmithKline, Eli Lilly and Company, Sanofi S.A., Regeneron Pharmaceuticals, Inc., and Daiichi Sankyo Company.

The global acute coronary syndrome market is extremely competitive by nature due to the large number of market players. To remain competitive, businesses must engage in a variety of business development activities, including the creation of new products, mergers, joint ventures, and geographic expansion. For instance, in December 2021, Merck stated that the acquisition of Acceleron Pharma Inc. had been completed successfully. The company has a significant and strategic opportunity to continue expanding its cardiovascular portfolio and pipeline, which builds on its long and proud history in the field of cardiovascular disease and supports the company's business development strategy, which is supported by ground-breaking research from Acceleron.

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