Global Arrhythmia Market: Snapshot

The global arrhythmia market is envisaged to seek reliable growth opportunities from the rapidly growing significance of electrophysiology, a cardiology subspecialty, in the discovery of new treatments and cures for almost all cases of the heart condition. Electrophysiology is studied to have excelled in conducting a critical assessment of the electrical function of the human heart, according to the University of California San Francisco (UCSF) Medical Center. Besides this, the UCSF Medical Center led the way in the implementation of catheter ablation, which is a type of treatment that eliminates or upsets parts of electrical pathways that cause arrhythmia.

The rising demand for monitoring devices in the treatment of arrhythmia is expected to help industry players boost their growth in the years to come. Implantable cardiac monitors could rake in a telling demand during the course of the forecast timeframe. Catheter ablation, on the other hand, is anticipated to attract a whole lot of demand in the near future on account of its effectiveness to treat a wide range of arrhythmia cases with a minimal recovery time and minor incision.

Some of the commanding factors predicted to hold a crucial significance in the growth of the global arrhythmia market include the increasing cases of obesity, upward trend of irrigated radiofrequency (RF) ablation catheter devices, and spiraling economic development. Although North America could record a higher growth in the market, emerging regions such as Asia Pacific are envisioned to offer favorable prospects on the back of their unmet medical needs and bettering healthcare infrastructure.

Arrhythmia drugs are used to treat cardiac arrhythmia, an abnormal heart rhythm which results in an extremely slow or extremely quick heartbeat. It is caused as a result of a heart disease or a disorder which affects the function of the heart. The goal of antiarrhythmic drug therapy is to restore normal cardiac function and prevent life-threatening consequences. Arrhythmia is classified into two basic types: bradycardia and tachycardia. When the heartbeat is too slow, i.e., less than 60 beats per minute, it is known as bradycardia and when it is too fast, i.e., more than 100 beats per minute, it is known as tachycardia.  Arrhythmia drugs are categorized based on their effects on the electrical behavior of myocardial cells during physical activity. Bradycardia causes lightheadedness, fatigue, fainting or near-fainting spells, dizziness, and at times cardiac arrest. Tachycardia leads to shortness of breath, reduced ability of the heart to pump blood, chest pain, and lightheadedness or loss of consciousness. If severe, it could also induce a heart attack or death. Some cardiac arrhythmias are triggered by the generation of an abnormal number of electrical impulses. The geriatric population is more affected by arrhythmia compared to younger people.

Factors such as the rising pool of patients suffering from obesity, increasing number of chronic diseases, rising consumption of alcohol & cigarettes, work pressure, and unhealthy lifestyles are predicted to drive the overall arrhythmia drug market. According to the Centers for Disease Control and Prevention, more than one-third (36.5%) of the adults in the U.S. suffer from obesity. The increasing research and development activities, growing geriatric populations, and extensive product pipeline are likely to propel the global arrhythmia drug market. On the other hand, the intense competition and stringent regulatory scenario are estimated to hinder the market.

The arrhythmia drugs market has been segmented by product type into the following categories: Class I (sodium-channel blockers), Class II (beta-blockers), Class III (potassium-channel blockers), Class IV (calcium-channel blockers), and miscellaneous (adenosine & electrolyte supplements). In terms of arrhythmia type, the market is divided into the bradycardia and tachycardia varieties. Based on distribution channel, the arrhythmia drugs market is classified into the following groups: hospitals pharmacies, retail pharmacies, and online pharmacies.

Geographically, the arrhythmia drugs market is distributed over North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the market due to the presence of the top market players, rapid rise in geriatric population, and growing prevalence of cardiac diseases in the region. According to CDC, an estimated 2.7 to 6.1 million people in the U.S. experience atrial fibrillation. Europe is the second leading market for arrhythmia drugs owing to the increasing number of research & development activities and rising consumption of tobacco in the region. According to the World Health Organization, Europe exhibits high prevalence of tobacco smoking among adults. The market in Asia Pacific is likely to expand at a higher rate due to the presence of a high target patient pool, mounting prevalence of cardiovascular diseases, rising disposable incomes, increasing government initiatives, and growing awareness. According to the World Health organization, in 2010, the burden of type-2 diabetes in India stood at 51 million and is projected to amount to 87 million in 2030. Emerging regions such as Latin America and Middle East & Africa are predicted to create major opportunities for the global arrhythmia drugs market.

Key players operating in this market include Teva Pharmaceutical Industries, Mylan N.V., GlaxoSmithKline LLC, Mayne Pharma, Upsher-Smith Laboratories LLC, Sanofi S.A., and Novartis International AG.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Arrhythmia Market

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