Market Synopsis
According to a new report by Market Research Future, the pericarditis drugs market is estimated to expand at a striking 7.5% CAGR during the forecast period due to the adoption and growing awareness of anti-inflammatory drugs. Pericarditis is a condition of irritation and swelling of the pericardium sac and can lead to heart palpitations and chest pain. While acute pericarditis does not last long, chronic pericarditis lasts for weeks to months. Treatment might include medication and surgery in case of chronic pericarditis. According to the American Heart Association, the growing geriatric population is more susceptible to pericarditis.
Drivers and Constraints Impacting the Market Growth
Increasing prevalence of cardiovascular diseases, growing geriatric population, and rising healthcare are some of the major factors driving the market growth for pericarditis globally. Several autoimmune diseases, rising cases of heart attack, changing lifestyle, rapid urbanization, advantages of botanical drugs over other drugs, treatment of illness, improvement in reimbursement policies, and several other are some of the push factors. Moreover, the rapid industrialization, constant innovations, burgeoning demands, technological advancements, growth of the medical sector, and rise in expenditure in R&D are some of the other factors fuelling the market growth during the assessment period. Also, concerned manufacturers are taking up joint ventures, partnerships, and acquisitions as their key policies which is further contributing to the inorganic growth of the market.
Meanwhile, the presence of misbranded drugs, side-effects of anti-inflammatory drugs, expiration of blockbuster drugs, stringent FDA mandates, and surgical inventions might hinder the growth of the market during the assessment period.
Pericarditis drugs market Segmentation
The global pericarditis has been segmented on the basis of diagnosis, type, treatment, end-users, and region.
The market has been segmented into chronic, acute, recurrent pericarditis, and others based on type.
The market has been segmented into blood test, echocardiogram, electrocardiogram, X-ray, and others based on diagnosis. While the electrogram segment is subdivided into ECG, EKG, and others, the echocardiogram segment is subdivided into transesophageal echocardiogram, transthoracic echocardiogram, stress echocardiogram, and others.
The market has also been segmented into surgical, pharmacological, and others based on treatment. The pharmacological segment is sub-segmented into colchicine, non-steroidal anti-inflammatory drugs, and others. The non-steroidal anti-inflammatory is again sub-segmented into ibuprofen, aspirin, and others. Also, the surgical segment is subdivided into pericardiocentesis, pericardiectomy, pericardiotomy, and others.
The market has been segmented into medical institutes, hospitals & clinics, research organization, and others.
North America to Dominate the Market
Geographically, the market for pericarditis has been spanned across North America, Europe, Asia Pacific, and the Middle East and Africa. North America is anticipated to dominate the global market for pericarditis owing to the increasing patient population for cardiovascular diseases, rising healthcare expenditure, and growing geriatric population. According to Centres for Disease Control and Prevention, the total expenditure for health care in the U.S. accounted for 17.8 % of the total gross product.
Europe holds the second largest position and is closely followed by the Asia Pacific market. Growing expenditure for health care, availability of funds for R&D, and high patient population are some of the major drivers for this market in this region. Europe is segregated into Eastern and Western Europe; where Western Europe holds a major share which is mainly contributed to U.K, France, and Germany.
Asia Pacific is the fastest growing region owing to the presence of developing countries like China and India. Growing geriatric population, increasing healthcare expenditures, along with growing demand for healthcare services are anticipated to spur the market growth in this region over the assessment period.
Due to the presence of poor economy, specifically in the African region, Middle East and Africa hold the least share.
Industry News
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Competition Analysis
The prominent players operating the market for global pericarditis are Pfizer Inc. (U.S.), Reckitt Benckiser Group Plc. (Europe), FUJIFILM Holdings Corporation (Asia Pacific), Merck Sharp & Dohme Corp. (U.S.), Bayer AG (Europe), AstraZeneca (U.S.), ALLERGAN (Europe), PerkinElmer Inc. (U.S.), and others.
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