Monday, 22 June 2020

Global Pericarditis Market 2020: Key Companies Profile, Their Market Share And Growth Insights To 2023

Market Synopsis of Global Pericarditis Market:
Global Pericarditis Market analysis by Type (Acute Pericarditis, Recurrent Pericarditis and Chronic Pericarditis), Diagnosis & Treatment [Diagnosis (Electrocardiogram (ECG), Echocardiogram, Computerized Tomography (CT) and X-Ray) and Treatment (Medication (Non-Steroidal Anti-Inflammatory Drugs (NSAIDs) and Colchicine) and Surgical Treatment), End User (Hospitals & Clinics and Medical Institutes & Research Laboratories) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2023
Market Scenario:
Pericarditis is inflammation of the pericardium (the fibrous sac surrounding the heart). Symptoms typically include a sudden onset of sharp chest pain. The pain may also be felt in the shoulders, neck, or back. It generally is better sitting up and worse when lying down or breathing deeply.
The increasing prevalence of cardiovascular diseases such as heart attack & hypertension, favorable reimbursement policies, and increasing preference for minimally invasive procedures are the major drivers propelling market growth. However, the side-effects of anti-inflammatory drugs and the risk of bacterial infections constrain the growth of the market.
The Global Pericarditis Market is expected to register 7.96% CAGR and is anticipated to reach USD 2,741.39 Million by 2023.
Market Dynamics
The prevalence of cardiovascular diseases is found to be increasing over the last decade. This is attributed to the rising incidences of chronic diseases such as obesity and diabetes, which are major risk factors for cardiovascular diseases such as pericarditis, heart attack, and hypertension. As per the American Heart Association, nearly 92.1 million Americans were diagnosed with cardiovascular diseases in 2017. Additionally, it also stated that the prevalence is found to be higher in men than in women. Furthermore, in the same year, more than 92% of the patients exhibited major symptoms of heart diseases such as chest pain, heartburns, and strokes.
Recently, the prevalence of cardiovascular diseases is found to be increasing from the last few years. The American Heart Association stated that in 2015, 3.7% of the Asian population was diagnosed with chronic heart disease, while 21% of the people had hypertension.
Cardiovascular disease is one of the significant chronic disease responsible for a high death toll across the globe. This emphasizes the need for the development of new diagnostics and treatment devices around the world. The market is also affected by the increasing number of people diagnosed with these diseases at an early stage. Therefore, the prevalence of cardiovascular disease would drive the growth of the market during the forecast period.
The market is driven by the increasing number of patients suffering from cardiovascular diseases, thus signifying the need for the development of new technologically advanced devices for monitoring the heart rate. Continuous monitoring of cardiovascular diseases is an important aspect of cardiology. Therefore, the prevalence of pericarditis is increasing with a rise in the prevalence of cardiovascular diseases, fueling market growth.
Segmentation
The global pericarditis market has been segmented into type, application, and end user. 
Based on type, the global market has been segmented acute pericarditis, recurrent pericarditis, and chronic pericarditis.
Based on diagnosis & treatment, the global market has been divided into diagnosis and treatment. The diagnosis segment is further divided into electrocardiogram (ECG), echocardiogram, computerized tomography (CT), X-Ray. The treatment segment is bifurcated into medication (non-steroidal anti-inflammatory drugs (NSAIDs) and colchicine) and surgical treatment.
Based on end user, the global market has been segmented into hospitals & clinics and medical institutes & research laboratories. The hospitals & clinics segment accounted for a market value of USD 840.30 million in 2017.
Key Players
The prominent players in the global pericarditis market are Pfizer Inc., AstraZeneca Plc, Novartis International AG, Allergan plc., and Merck & Co., Inc. are the top five market players in this market. Apart from these, Bayer AG, Reckitt Benckiser Group Plc., PerkinElmer, Inc., FUJIFILM Holdings Corporation, Sanofi, and Johnson & Johnson Services, Inc. are some of the other major players in the global market.
Some of the key strategies followed by the players operating in the global pericarditis market are innovation, product development, acquisition, and expansion.
Regional Analysis
The global pericarditis market, based on region, is segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas is estimated to dominate the global pericarditis market during the forecast period. This is attributed to the rising investments in research and development owing to investments in reputed research centers and government institutions and increasing expenditure on healthcare play a vital role in the growth of the regional market. Besides, several research grants are given by governmental agencies.
The European market for pericarditis is expected to be the second-largest during the forecast period. The presence of medical device companies, the rising burden of rheumatoid arthritis (RA), and growing healthcare spending are expected to boost the growth of the market in this region. Additionally, the companies operating in the market are mainly focusing on mergers and acquisition, which is expected to support market growth.
Asia-Pacific is estimated to be the fastest-growing market due to the growing geriatric population, rapid developments in technology. In addition to this, improving healthcare infrastructure has increased the number of research activities in the region. Moreover, in the region, China accounted for a market share of 24.6% in 2017.
Furthermore, the market in the Middle East & Africa is expected to witness slow growth due to limited access to healthcare facilities.
Key Updates
  • In July 2017, Pfizer Inc. extended the collaboration with Catalent, Inc., a global provider of advanced delivery technologies and development solutions for drugs, biologics, and consumer health products for the development and manufacture of Advil Liqui-Gels.
  • In October 2018, Reckitt Benckiser (RB) launched a 24-hour pain relief patch along with a campaign to educate patients about pain to encourage patients to facilitate pain management.
  • In October 2018, FUJIFILM Medical Systems USA, Inc., a provider of diagnostic imaging and medical informatics solutions launched the FCT Embrace wide bore computed tomography (CT) imaging unit in the US, thereby entering into the US computed tomography market.
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