The Global Rheumatic Heart Disease Management Industry is expected to grow at an impressive rate, reaching a value of US$1.31 billion by 2023. Leading industry experts at Future Industry Insights (FMI) predict that between 2023 and 2033, the demand for rheumatic heart disease management will soar at a Compound Annual Growth Rate (CAGR) of 4.5%, reaching a remarkable US$ 2.04 billion by that time.
This significant increase is ascribed to ongoing developments in biotechnology and pharmaceuticals, which represent a paradigm change in the healthcare industry. The global rheumatic heart disease management market is poised to redefine expectations as the sector welcomes innovation and provides patients with better prospects and hope around the globe.
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Between 0.1 and 0.2% of hospitalized patients have been found to have acute pericarditis, while 5% of patients are admitted with non-ischemic chest discomfort. Additionally, 17.9 million people die from cardiovascular disorders each year worldwide, which is equivalent to 31% of all fatalities. More than 75% of cardiovascular deaths occur in low- and middle-income nations. Another factor boosting market growth is the use of dual therapy to treat rheumatic heart disease.
Additional variables that affect the rise in cardiovascular illnesses and the market for the treatment of rheumatic heart disease include rising alcohol and tobacco use, changes in lifestyle, and lifestyle modifications. Throughout the analysis period, it is anticipated that low- and middle-income nations will place a greater emphasis on the prevention and treatment of cardiovascular illnesses.
Another reason fueling the market’s expansion is the rise in environmental contamination, which makes viral and fungus infections more common. Additionally, the rise in rheumatic fever cases and the government’s increasing healthcare spending are both contributing to the market’s expansion. Additionally, the major market players’ ongoing advancements in biotechnology and Rheumatic Heart Disease drug development have been opening up attractive market opportunities. The increased prevalence of chronic diseases, such as cardiovascular diseases and type 2 diabetes mellitus, is another important driver that is projected to accelerate market expansion.
Key Takeaways from the Global Rheumatic Heart Disease Management Industry Study
- Global Rheumatic-Heart Disease Management Market was valued at US$ 25Bn 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
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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 Global Rheumatic Heart Disease Management Industry in the forthcoming years, remarks an FMI analyst.
Competitive Landscape
Prominent players in the Global Rheumatic Heart Disease Management Industry
- 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 Global Rheumatic Heart Disease Management Industry Report 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 based on type, and application, across five major regions.
Key Segments Covered in the Global Rheumatic Heart Disease Management Industry Analysis:
Global Rheumatic Heart Disease Management Industry by Type:
- Valve
- Myocarditis
- Pericarditis
Global Rheumatic Heart Disease Management Industry by Application:
- Hospital
- Diagnostic Centre
- Research Centre
Global Rheumatic Heart Disease Management Industry by Region:
- North America
- Europe
- Europe
- Latin America
- Middle East & Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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