The global Rheumatic-Heart Disease Management market size is expected to be valued at US$ 1.31 Billion in 2023. With the continuous improvements in drugs and biotechnology, the overall demand for Rheumatic-Heart Disease Management is projected to grow at a CAGR of 4.5% between 2023 and 2033, totaling around US$ 2.04 Billion by 2033.
The rising prevalence of cardiovascular diseases globally is one of the major factors that is expected to fuel the growth of the rheumatic heart disease management market during the forecast period. The growing geriatric population has also been influencing the market growth. Acute pericarditis is the most common rheumatic heart disease in several clinical settings, according to Cureus, an open access medical journal for a new generation of doctors and patients.
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Acute pericarditis has been reported to affect between 0.1 and 0.2% of hospitalized patients, with 5% of patients admitted to the emergency department with non-ischemic chest pain. In addition, cardiovascular diseases kill 17.9 million people globally each year, accounting for an estimated 31% of all deaths. Further, low- and middle-income countries account for more than 75% of cardiovascular deaths. The use of dual therapy to treat rheumatic heart disease is another factor accelerating the market growth.
Additionally, increased alcohol consumption and smoking, and lifestyle changes are other factors that contribute to the rise in cardiovascular diseases, as well as the rheumatic heart disease management market. More emphasis on the prevention and treatment of cardiovascular diseases in low- and middle-income countries is projected to propel the revenue share of the market over the analysis period.
Rising environmental pollution, which leads to a higher prevalence of viral and fungal infection is another factor driving the market growth. In addition, the government’s increased healthcare spending to combat the growing incidence of rheumatic fever, which is also fueling the market growth. Moreover, the leading market players’ continuous improvements in Rheumatic heart disease drug and biotechnology growth have been creating lucrative opportunities in the rheumatic heart disease market. Other major factors that are anticipated to escalate the market growth include the rising incidence of chronic diseases including cardiovascular diseases, diabetes mellitus type 2, among others.
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Key Takeaways from the Market Study
- Global Rheumatic-Heart Disease Management Market was valued at US$ 1.25 Bn by 2022-end
- From 2018 to 2022, the market demand expanded at a CAGR of 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 5%.
- By 2033, the market value of Rheumatic-Heart Disease Management is expected to reach US$ 04 Bn.
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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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.
About Healthcare at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Key Segments Covered in the Heterozygous Familial Hypercholesterolemia (HEFH) Management Market Report
By Product Type:
- Gemcabene Calcium
- MGL-3196
- ST-103
- Others
By Application:
- Hospitals
- Medical Centers
- Clinics
- Others
About FMI:
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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