In 2023, the global Rheumatic-Heart Disease Management market is expected to be worth US$ 1.31 billion. With ongoing advancements in drugs and biotechnology, the overall demand for Rheumatic-Heart Disease Management is expected to grow at a CAGR of 4.5% between 2023 and 2033, totaling approximately US$ 2.04 billion by 2033.
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One of the major factors expected to fuel the growth of the rheumatic heart disease management market during the forecast period is the rising prevalence of cardiovascular diseases globally. The growing geriatric population has also had an impact on market growth. According to Cureus, an open access medical journal for a new generation of doctors and patients, acute pericarditis is the most common rheumatic heart disease in several clinical settings.
Acute pericarditis has been reported to affect between 0.1 and 0.2% of hospitalised patients, with 5% of non-ischemic chest pain patients admitted to the emergency department. Furthermore, cardiovascular diseases claim the lives of 17.9 million people worldwide each year, accounting for an estimated 31% of all deaths. Furthermore, more than 75% of cardiovascular deaths occur in low- and middle-income countries. Another factor driving market growth is the use of dual therapy to treat rheumatic heart disease.
In addition, increased alcohol consumption and smoking, as well as lifestyle changes, are contributing factors to the rise in cardiovascular diseases and the rheumatic heart disease management market. More emphasis on the prevention and treatment of cardiovascular diseases in low- and middle-income countries is expected to drive market revenue over the analysis period.
Another factor driving market growth is rising environmental pollution, which leads to a higher prevalence of viral and fungal infection. Furthermore, the government has increased healthcare spending in order to combat the rising incidence of rheumatic fever, which is fueling market growth. Furthermore, the continuous improvements in Rheumatic heart disease drug and biotechnology growth of the leading market players have created lucrative opportunities in the rheumatic heart disease market. Other major factors expected to drive market growth include the rising prevalence of chronic diseases such as cardiovascular disease and type 2 diabetes, among others.
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Key Takeaways from the Market Study
- Global Rheumatic-Heart Disease Management Market was valued at US$ 1.25 Billion by 2022-end
- From 2018 to 2022, the market demand expanded at a CAGR of 2.1%
- By Type, the Valve segment of the market constitutes the bulk of the market with a market share of 46%
- By Application, the Hospitals segment dominates the market with a share of 46%
- From 2023 to 2033, Rheumatic-Heart Disease Management sales are expected to flourish at a CAGR of 4.5%.
- By 2033, the market value of Rheumatic-Heart Disease Management is expected to reach US$ 2.04 Billion.
An upsurge in financial support to researchers for developing new innovative drugs for treatment of rheumatic fever, coupled with growing geriatric population are expected to fuel the Rheumatic-Heart Disease Management Market in the forthcoming years, remarks an FMI analyst.
Competitive Landscape
Prominent players in the Rheumatic-Heart Disease Management market are F. Hoffmann-La Roche Ltd., Mylan N.V., Teva Pharmaceutical Industries Ltd., Sanofi, Pfizer Inc., GlaxoSmithKline plc., Novartis AG, Bayer AG, Eli Lilly and Company, Merck & Co., Inc., Allergan, AstraZeneca, AbbVie Inc., Johnson & Johnson Private Limited, Cipla Inc., Abbott, Merck KGaA, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma, Dr. Reddy’s Laboratories Ltd., Glenmark Pharmaceuticals Limited, Amneal Pharmaceuticals LLC., and Bayer AG, among others.
Recent Developments:
- In September 2019, Medtronic announced the launch of Evolut PRO+, a transcatheter aortic valve replacement (TAVR) system in the U.S.
- In September 2019, Abbott initiated the TRILUMINATE pivotal trial for the evaluation of TriClip, a transcatheter tricuspid valve repair for treating tricuspid regurgitation.
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Key Segments Covered in the Rheumatic-Heart Disease Management Industry Analysis
Rheumatic-Heart Disease Management Market by Type:
- Valve
- Myocarditis
- Pericarditis
Rheumatic-Heart Disease Management Market by Application:
- Hospital
- Diagnostic Centre
- Research Centre
Know More About What the Rheumatic-Heart Disease Management Market Repost Covers
Future Market Insights offers an unbiased analysis of the global Rheumatic-Heart Disease Management Market, providing historical data for 2018-2022 and forecast statistics from 2023-2033. To understand opportunities in the Rheumatic-Heart Disease Management Market, the market is segmented on the basis of type, and application, across five major regions.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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