In 2023, the Rheumatic-Heart Disease Management Market is projected to be worth US$1.31 billion. The entire demand for the management of rheumatic-heart disease is anticipated to increase at a CAGR of 4.5% between 2023 and 2033, reaching approximately US$ 2.04 billion by 2033 as a result of ongoing advances in pharmaceuticals and biotechnology.
One of the key factors anticipated to drive the growth of the rheumatic heart disease management market during the projected period is the rising prevalence of cardiovascular illnesses in the world. The ageing population’s increase has also had an impact on the market’s expansion. According to Cureus, an open access medical publication for a new generation of physicians and patients, acute pericarditis is the most prevalent rheumatic heart disease in several clinical settings.
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Between 0.1 and 0.2% of hospitalised 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. Over the course of 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.
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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
- 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.
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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.
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.
Key Segments Covered in the Rheumatic-Heart Disease Management Industry Analysis:
Rheumatic-Heart Disease Management Market by Type:
- Valve
- Myocarditis
- Pericarditis
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Rheumatic-Heart Disease Management Market by Application:
- Hospital
- Diagnostic Centre
- Research Centre
Rheumatic-Heart Disease Management Market by Region:
- North America
- Europe
- Europe
- Latin America
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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