Research Nester’s recent market research analysis on “Genetic Cardiomyopathies Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global genetic cardiomyopathies market in terms of market segmentation by disease type, route of administration, drug type, end user, and by region.
Growing Funding in the Gene Therapy to Promote Global Market Share of Genetic Cardiomyopathies
The global genetic cardiomyopathies market is estimated to grow majorly on account of the rising investment in the healthcare sector, especially for the treatment of cardiomyopathy. The British Heart Foundation's Big Beat Challenge has been won by a project called CureHeart. It won more than USD 33 million in financing, making it one of the largest non-commercial research grants ever delivered. The program is a collaboration between experts at the University of Oxford and Harvard Medical School to halt the symptoms and progression of various kinds of cardiomyopathy, a category of cardiac disorders that can be inherited. Moreover, the growing prevalence of cardiomyopathy is also expected to drive the market growth. Cardiomyopathies afflict around one in every 250 people in the UK and range in severity. In the most severe situations, they might cause cardiac failure, which can lead to sudden death or necessitate a transplant.
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Some of the major growth factors and challenges that are associated with the growth of the global genetic cardiomyopathies market are:
Growth Drivers:
• Surging Development of Gene Therapies
• Initiatives for Screening for Early Detection
Challenges:
The rising concern for risks associated with data security with genetic screening, since it takes all the genome information collected and instances of leak may compromise the personal information of an individual are some of the major factors anticipated to hamper the global market size of genetic cardiomyopathies.
By disease type, the global genetic cardiomyopathies market is segmented into hypertrophic cardiomyopathy, restrictive cardiomyopathy, and dilated cardiomyopathy. The dilated cardiomyopathy segment is to garner a highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. The growing cases of genetic cardiomyopathies and the rising development of novel therapies for combating cardiomyopathies is the major factor that is driving the segment’s growth.
The market in Europe, amongst the market in all the other regions, is projected to hold notable share by the end of 2036. The growth of the market can be attributed majorly to the rising development of genomic medicines. Germany became the twenty-first EU Member State to join the EU's "1+ Million Genomes" Initiative in January 2020, to sequence more than one million genomes and therefore enhance health care. Regionally or nationally available patient pools, particularly for rare disorders, are too limited to allow relevant scientific studies. Moreover, to accelerate the development of the National Strategy, the European Commission sponsored the project "Structural Support for a National Genome Initiative of the Federal Ministry of Health (genomDE)" under the structural reform program (GD REFORM) was begun in July 2020.
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