Rheumatic Myocarditis Treatment Market Trends

Growth Drivers

• Rapid Rise in the Number of Cases of Rheumatic Fever – In the recent period, there has been a global burden on the economy owing to the increasing rheumatic fever around the world which is developed as a result of strep throat. Treating such autoimmune diseases is estimated to increase the utilization rate of rheumatic myocarditis treatment, especially in low and middle-income countries. The report published by the Centers for Disease Control and Prevention (CDC) estimated that around 470,000 new cases of acute rheumatic fever are diagnosed every year around the globe.

• Rising Incidences of Cardiovascular Diseases Among the Global Population – More and more people have been diagnosed with cardiovascular diseases in the past years as a result of shifting towards a sedentary lifestyle and consumption of unhealthy food items. The rising cases of cardiovascular diseases could weaken the heart and deteriorate the functioning of heart values which could lead to rheumatic myocarditis. Thus, the escalation in cardiovascular diseases is estimated to bring favorable opportunities for market expansion in the forecast period. The World Health Organization (WHO) stated that cardiovascular diseases are considered to be a major cause of deaths occurring at the global level, taking almost 17.9 million lives each year.

• Lack of Basic Sanitation Facilities – Even though the economies are growing, a major portion of people are living without basic sanitation facilities. Living under unhygienic conditions is estimated to increase the occurrence of rheumatic fever which ultimately leads to rheumatic heart disease. Therefore, the absence of fundamental facilities for hygiene is estimated to generate the need for rheumatic myocarditis treatment during the forecast period to treat patients. The Centers for Disease Control and Prevention (CDC) stated that around 3.6 billion people around the world lack access to safely managed sanitation in their homes and around 2 billion people worldwide lack basic safe drinking water services.

• Growing Percentage of Elderly People in the World – Old people have weakened bodies and deteriorating body organs which makes them prone to rheumatic myocarditis. Thus, with the burgeoning population, it is estimated that the demand for rheumatic myocarditis treatment is expected to grow during the forecast period. The data released by the Department of Economic and Social Affairs, United Nations revealed that in 2019, approximately 703 million people of age 65 and above were present. This figure is estimated to double by 2050 to reach almost 2.1 billion worldwide.

• High Amount of Investment in Developing the Healthcare Sector – Key players operating in the market along with the governments of different countries are focusing on developing novel medicinal products and advanced medical items for rheumatic myocarditis treatment. As a result, a high amount is being invested in the healthcare sector to aid research and development activities. For instance, investment in medical and health research and development (R&D) in the United States (U.S.) increased by 11% to around USD 245 billion in 2020 from previous years.

Challenges

• Risks and Complications Associated with Surgical Procedures
• High Costs Associated with Rheumatic Myocarditis Treatment – As rheumatic myocarditis is considered to be a rare disease; the treatment procedure requires technologically developed medical products which are generally of high costs. This leads to a surge in the overall treatment of rheumatic myocarditis. Hence, this factor is anticipated to lower the adoption rate of rheumatic myocarditis treatment and hamper market growth during the forecast period.
• Less Awareness Level About the Disease and its Treatment