Global Pericardial Disease Market Size, Share & Trends Analysis Report By Type (Acute Pericarditis, Chronic Pericarditis, and Recurrent Pericarditis) By Diagnosis Method (Chest X-Ray, Cardiac MRI, Cardiac CT Scan, Echocardiography, Electrocardiography, and Others) By Treatment Approach (NSAIDS Drugs, and Pericardiectomy) Forecast 2022-2028
The global pericardial disease market is anticipated to grow at a CAGR of around 5.5% during the forecast period. Pericardial disease is a medical condition that involves swelling and irritation in the pericardium. The pericardium is a two-layer sac that separates the heart from surrounding structures and protects it from vibration and external shocks. The patient with heart surgeries and other related surgeries become more vulnerable to such diseases. The rising number of geriatric population and prevalence of cardiovascular diseases is the major factor for the growth of the market. According to the American College of Cardiology report, in 2019, CVD was the underlying cause of 9.6 million deaths among men and 8.9 million mortalities among women, around a third of all mortalities across the globe. Over 6 million of this mortality occurred in people between the ages of 30-70. The highest number of CVD deaths occurred in China, followed by India, Russia, the US and Indonesia. Additionally, prevalent cases of total CVD nearly doubled from 271 million in 1990 to 523 million in 2019, and the number of CVD mortalities steadily increased from 12.1 million in 1990, reaching 18.6 million in 2019.
However, the high cost of diagnosis such as cardiac MRI and cardiac CT scan, and lack of awareness regarding the treatment of such disease are the factors that hinder the market growth. The technological advancement for providing more cost-effective and minimally invasive diagnosis such as the introduction of grafts developed with dCELL technology is expected to contribute to the growth of the market. Moreover, the extended support of the government in terms of funding further anticipated propelling the market growth in the near future.
Impact of COVID-19 on global pericardial disease market
The pericardial disease market impacted positively by the COVID-19 outbreak. Coronavirus disease primarily infects the lungs, has demonstrated a wide spectrum of clinical manifestations and may even extend to other organs such as the cardiovascular system. During the lockdown, there was a hike in patients with cardiovascular disease. Due to which the demands for the treatments and drugs were increased that positively affected the market growth.
The global pericardial disease market is segmented based on type, diagnosis method, and treatment approach. Based on type the market is sub-segmented into acute pericarditis, chronic pericarditis, and recurrent pericarditis. Based on the diagnosis method, the market is segregated into chest X-Ray, cardiac MRI, cardiac CT scan, echocardiography, electrocardiography, and others (blood test). Whereas, on the basis of treatment, the market is bifurcated into NSAIDS drugs and pericardiectomy. The NSAIDS drug segment is anticipated to grow with significant market share during the forecast period. Nonsteroidal anti-inflammatory drugs are the first-line treatment for pericardial effusion caused by inflammation. The significant use of these drugs during the pericardial treatment will create its demand in the market, which will further drive the market growth.
Global Pericardial Disease Market Share by Diagnosis Methods, 2020 (%)
Global Pericardial Disease Market Share by Diagnosis Methods
The echocardiography segment is projected to hold the largest share in the global pericardial disease market.
Among diagnosis methods, the echocardiography segment is projected to hold the largest market share in the global pericardial disease market. The rising prevalence of the geriatric population coupled with pericardial disease demands an effective diagnosis method to cure the disease, echocardiography is one of them. Echocardiography is a medical test that utilizes sound waves to create a live image of the heart known as an electrocardiogram (ECG). Echocardiography is recommended in patients with suspected acute pericarditis who have evidence of hemodynamic compromise. The test is widely used to diagnose cardiovascular diseases. The use of these test during pericardial disease treatments is gaining popularity owing to the effective and painless properties that further projected to propel the market during the forecast period.
Geographically, the global pericardial disease market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, ASEAN and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Asia-Pacific is projected to witness the fastest growth in the global pericardial disease market due to the rapid development of the healthcare industry and the rising cases of diseases due to sedentary lifestyles.
Global Pericardial Disease Market Growth, By Region 2022-2028
Global Pericardial Disease Market Growth, By Region
North America is projected to dominate the global pericardial disease market
Geographically, North America dominated the market by accounting largest share in the global pericardial disease market, and it is anticipated to grow at significant CAGR during the forecast period. The market growth in the region is mainly attributed to the increase in the number of cardiovascular disease cases and advancement in medical facilities. Moreover, the region has a large number of geriatric populations; hence, propelling the demand for minimally invasive cardiac disorder treatment in the region. According to the Centers for Disease Control and Prevention statistics, about 655,000 Americans die from heart disease every year that is 1 in every 4 deaths. The increasing government support for R&D activities, and the presence of major players in the region is likely to support the growth of the market during the forecast period.
Market Players Outlook
The key players in the pericardial disease market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include Teva Pharmaceutical Industries Ltd., AstraZeneca PLC, Abbott Laboratories, Edwards Lifesciences Corp, Integra LifeSciences Corp, among Others. These market players are adopting several market strategies including product launch and approvals, merger and acquisition, partnership collaboration, business, and capacity expansion and others.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global pericardial disease market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
Table of Contents
- Current Industry Analysis and Growth Potential Outlook
- Impact of COVID-19 on the Global Pericardial Disease Industry
- Recovery Scenario of Global Pericardial Disease Industry
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19on key players
5.1.1. Acute Pericarditis
5.1.2. Chronic Pericarditis
5.1.3. Recurrent Pericarditis
5.2. Global Pericardial Disease Market, By Diagnosis Method
5.2.1. Chest X-Ray
5.2.2. Cardiac MRI
5.2.3. Cardiac CT scan
5.2.6. Others (Blood Test)
5.3. Global Pericardial Disease Market, By Treatment Approach
5.3.1. Non-steroidal Anti-Inflammatory Agents (NSAIDS) Drugs
6.1.1. United States
6.2.6. Rest of Europe
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
6.4.1. Latin America
6.4.2. Middle East& Africa
7.2. AliveCor, Inc.
7.3. AstraZeneca PLC
7.4. Bayer AG
7.5. CardioComm Solutions, Inc.
7.6. Coloplast Corp.
7.7. CryoLife, Inc.
7.8. Edwards Lifesciences Corp.
7.9. General Electric Co.
7.10. Integra LifeSciences Corp.
7.11. Kiniksa Pharmaceuticals, Ltd.
7.12. LivaNova PLC
7.13. Merck & Co., Inc.
7.14. Teva Pharmaceutical Industries Ltd.
7.15. VectraCor, Inc
A selection of companies mentioned in this report includes:
- Abbott Laboratories
- AliveCor, Inc.
- AstraZeneca PLC
- Bayer AG
- CardioComm Solutions, Inc.
- Coloplast Corp.
- CryoLife, Inc.
- Edwards Lifesciences Corp.
- General Electric Co.
- Integra LifeSciences Corp.
- Kiniksa Pharmaceuticals, Ltd.
- LivaNova PLC
- Merck & Co., Inc.
- Teva Pharmaceutical Industries Ltd.
- VectraCor, Inc