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Drug Induced Cardiotoxicity Market Segmented By Indication for Left ventricle dysfunction, Rhythm disturbances and Ischaemia
Around 50% of the drugs were called off the market, because of Drug induced Cardiotoxicity between 1994 and 2006. Advances in Medical equipment has enhanced in various segments of patient care, and simultaneously, management of diseases have also enhanced.
According to the National Cancer Institute, Drug induced cardiotoxicity can be framed as the ‘toxicity that affects the heart’. This toxic effect includes a direct effect of a drug on the heart as well as an indirect effect because of modifications of hemodynamic flow variations or because of thrombotic actions.
An increase in prevalence of Drug induced cardiotoxicity has been observed as a result of the global development in cancer treatment, which is leading to improved survival. Various therapies are being broadening the Drug induced cardiotoxicity range of the antineoplastic drugs.
According to the regulations given by FDA and EMEA, all of the phase-I clinical trials are required to go through continuos cardiac monitoring plan. The recognition of the toxic effects of kinase inhibitors with the development of new drugs that eliminate toxic kinases is the main aim. For instance, the effective restructuring of imatinib to decrease its Drug induced cardiotoxicity effects for the treatment of GIST.
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Global Drug induced Cardiotoxicity market is predicted to show considerable growth in the forecast period due to the technological improvement with development of advanced equipments to enhance the lifestyle. The major focus is on the advancement in devices and technology by the manufacturer which will boost the Drug induced Cardiotoxicity market in the near future.
Increase in the investment towards reimbursement and government funding for the development of new devices will lead to the Drug induced Cardiotoxicity market growth.
Another factor that will drive the market is the adoption of cost effective procedures. The major benefit of Drug induced Cardiotoxicity against the traditional method will propel the Drug induced Cardiotoxicity market in near future.
Also, developments in the drug induced cardiotoxicity market are affected by the practice of targeted anticancer agents. There is an increase in the numbers of patients recovering from cancer in numerous worldwide which has led to increase in research activities in oncology, which will lead to reduction in cardiovascular diseases. Therefore, increasing research activities in cancer due to drug induced cardiotoxicity market growth is beneficial to most of the oncologists in the world.
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Get a Customized VersionThe major rising disease today is cancer which is increasing need for cancer drugs. The main reasons that lead to the growth of these drugs is increase in oncology research and increase in old-age population around the world. However, cancer treatment drugs have been frequently related with cardiotoxicity, that ultimately causes myocardial dysfunction and sometimes heart failure. This leads to increase in drug induced cardiotoxicity market.
Stringent regulatory requirements for drug approval is expected to hinder global drug induced cardiotoxicity market growth. Less diagnosis rate and treatment adoption due to poor economic conditions in regions like the Middle East & Africa challenges the growth of global drug induced cardiotoxicity market growth. Lack of proper information and knowledge about the drug induced cardiotoxicity is one of the restraining factor for the market.
Another factor that will drive the market is the adoption of cost effective procedures. The major benefit of Drug induced Cardiotoxicity against the traditional method will propel the Drug induced Cardiotoxicity market in near future. Moreover, the clinical trial that is conducted in the US is expected to hamper the growth of drug induced cardiotoxicity market.
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Due to increasing adoption of advanced cardiac treatments and rising awareness attributes to the largest market share of North America. In addition, as a result of government regulations, the increase in need of home healthcare devices have enforced hospitals for readmissions, that will in turn boost the demand for cardiac diagnostic and intensive care devices.
From emerging countries, China and Japan are the rapidly growing regions in the global drug induced cardiotoxicity market after North America. China is holds the largest old-age population in the emerging countries.
This region shows rising incidences of cardiac diseases which leads to increase in demand for drug induced cardiotoxicity market growth. The steps taken by the government of South Asian countries in healthcare sector is leading to the market growth.
The incidence of drug induced cardiotoxicity in the U.S. is lower than in Europe. However, it is believed that the affected population of cardiotoxicity in the United States are the descendants of immigrants from the Mediterranean and Western Europe region.
Further, several studies showed that drug induced cardiotoxicity patient population is very rare in Asian countries such as India, China, Malaysia, and in the Middle East and Africa. Due to the drug induced cardiotoxicity patient population in Asian countries the market of the U.S. is expected to be larger than the Asia and the Middle East and Africa regions.
The major players are moving forward for mergers and acquisition to support their market position, due to competitive environment, frequent innovations are taking place in the market. This market is a monopolistic type of market, having presence of various companies. Increasing old-age people worldwide with most chances of bone disorders are leading to great opportunities for the drug manufacturers to invest in drug induced cardiotoxicity.
Key players are concentrating on improving their marketing strategies, by reducing prices, expanding worldwide existence and growing sales networking so as to achieve maximum market share. Numerous economic factors, key market trends and technological developments play a crucial role in the development of global drug induced cardiotoxicity market.
The growing pharmaceutical industry with low availability of potential therapeutic for the treatment and management of global drug induced cardiotoxicity creating huge opportunities for the global market players. The shift of lifestyle patterns towards unhealthy lifestyle is expected to increase patient suffering from various type of cancer and cardiovascular diseases creating large customer based for global drug induced cardiotoxicity market.
The rise in the ageing population with various type of cancer and cardiovascular diseases also creating opportunities to the market players operating in the drug induced cardiotoxicity market to develop novel drug candidate in order to fulfil an unmet need. Consequently, increasing life expectancy and healthcare expenditure in developed and developing countries also driving the demand for drug induced cardiotoxicity treatment products.
The pandemic is throwing a huge adverse impact on the drug induced cardiotoxicity market. Biopharmaceutical and healthcare industries as a whole were hit by this pandemic challenge in 2020. The supply chain interruption and economic impact of the pandemic on the small, and medium-sized enterprises also adversely affected the drug induced cardiotoxicity market growth.
As the importing was halted, this has adversely affected the finances of the majority of pharmaceutical companies. The shortage of manpower due to COVID19 pandemic also hamper in research and development as well as commercial production of biologics all over the world which is also the major factor have a huge impact on the drug induced cardiotoxicity market growth in 2020.
The health crisis worldwide has shown an extraordinary influence on businesses across all the industries. Though, this is considered to be a short-term effect, but, the growing assistance from governments and key players can help in the fight against this coronavirus pandemic. Moreover, it is observed that some industries that are struggling and some are flourishing. Globally, every segment is predicted to be influenced by the pandemic.
In the light of COVID-19 pandemic, there is a greater demand for various types of treatment drugs for cardiotoxicity. The rising demand for cardiotoxicity monitoring and treatment has led to rise in drug approvals in the U.S. These factors along with the use of advanced treatment will ultimately rise the need of these cardiac drugs and drive the global drug induced cardiotoxicity market.
