The Global Long QT Syndrome Market is expected to grow at a CAGR of 8.50% during forecast period. Long QT syndrome (LQTS) is a disorder of the heart’s electrical activity, leading to irregular heartbeats. Fainting and seizures are the most common symptoms for this disease. In most of the patients, the first sign/symptom of the disease appears after the age of 40. Moreover, it is estimated that the risks for the disease increase with pre-existing conditions of cardiovascular disease, diabetes besides others. Therefore, factors such as increasing prevalence of the cardiovascular diseases, diabetes, and the growing geriatric population are the major drivers that are estimated to drive the market growth during the forecast period.
According to the World Health Organization in 2017, cardiovascular diseases were the main cause of the deaths across the globe. It was estimated that in 2015, approximately 17.7 million people died from cardiovascular diseases, representing 31% of all the global deaths. Of these deaths, an estimated 7.4 million were due to the coronary heart diseases and 6.7 million were due to stroke. Furthermore, the World Health Organization in 2016 reported that an estimated 422 million adults across the world were living with diabetes in 2014.
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Additionally, it was estimated that deaths due to diabetes were higher in the low and middle income countries as compared to the high income countries. Rising per capita healthcare expenditure and increasing R&D expenses by key players of the market is fuelling the market growth. However, factors such as lack of awareness for this syndrome, stringent FDA approvals and high cost of the surgical therapeutics for the treatment of this disorder are restraining the market growth.
Long QT Syndrome Market Segmentation:
The Global Long QT Syndrome Market is segmented on the basis of type, diagnosis, treatment, and end users. On the basis of the type, the market is segmented into long QT syndrome type 1, long QT syndrome type 2, long QT syndrome type 3, and others. On the basis of the diagnosis, the market is categorized into tests, electrocardiogram (ECG), genetic testing, and others.
On the basis of the treatment, the market is segmented into medication, surgical procedures, and others. On the basis of the end user, the market is segmented into hospitals & clinics, diagnostic labs, research organizations, and others.
Global Long QT Syndrome Market Regional Analysis:
The Americas dominate the global long QT syndrome market. A well-developed healthcare sector, high per capita healthcare expenditures, increasing number of patients suffering from cardiovascular diseases and diabetes are the major drivers for long QT syndrome market in the Americas. Moreover, the presence of developed economies like the U.S. and Canada boosts the market growth within this region.
Europe holds the second largest market share. Availability of funds for research, huge patient population, and government support for research & development will drive the market. Regionally, Europe is divided into Western Europe and Eastern Europe. The Western Europe leads the market within the Europe. However, Eastern Europe is estimated to be the fastest growing region.
Asia Pacific is the fastest growing market. Increasing prevalence of diabetes and growing geriatric population are the major driving factors for the market growth within the region. Moreover, the presence of developing healthcare sector and developing economies within the region are boosting the market growth.
The Middle East & Africa holds the least share of the market. Presence of poor economies and stringent government policies especially in the Africa region are the restraining factors for market growth within the region. The Middle East holds a major share of the market within the region. This can be attributed due to huge healthcare expenditures by the developed economies of the region.
Long QT Syndrome Market Key Players
The key players for the global long QT syndrome market are Invitae Corporation (U.S.), GeneDx. (U.S.), Asper Biogene (Estonia), Boston Scientific Corporation (U.S.), Laboratory Corporation of America Holdings (U.S.), Pfizer Inc. (U.S.), Zydus Pharmaceuticals, Inc. (U.S.), Aralez Pharmaceuticals Inc. (Canada), AstraZeneca (U.K), Torrent Pharmaceuticals Limited (India), Lupin Pharmaceuticals, Inc. (U.S.), Cipla Inc. (India), Mylan N.V. (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), and others.
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