| Source: Polaris Market Research & Consulting LLP
Baner Pune, INDIA
New York, NY, May 03, 2023 (GLOBE NEWSWIRE) — Polaris Market Research has published a new research report titled “Brugada Syndrome Market Share, Size, Trends, Industry Analysis Report, By Diagnosis (Electrocardiogram, Electrophysiology test, Genetic testing); By Treatment; By End-Use; By Region; Segment Forecast, 2023 – 2032” in its research database.
“As per the latest research analysis, the global Brugada syndrome market size/share will be valued at roughly USD 1.37 Billion in 2022, and its revenue is projected to reach about USD 2.38 Billion By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 5.7% between 2023 and 2032.”
What is Brugada Syndrome? What is the Expected Market Size of Brugada Syndrome?
Brugada syndrome is an occasional but consequential condition that impacts how electrical signals pass through the heart. It can cause the heart to beat critically fast and can be lethal. The rapidly rising demand for the Brugada syndrome market can be attributed to increased risk factors such as cardiac arrest. If it is not treated instantly, the sudden loss of heart function, breathing, and awareness frequently takes place while sleeping. Appropriate and fast medical care is an answer to this syndrome.
The startling increase in the pervasiveness of heart diseases is the prominent factor driving the market’s growth. Additionally, escalated demand for cure and diagnosis techniques has affirmatively influenced the market. Further, an increase has been observed in the obtainability of diagnostics services for respiratory diseases, which has notably fuelled the market’s growth.
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Key data covered in the market report
Key factors driving market growth
The principal driver of the market is the fact that cardiovascular transplants have extended waiting lists. Because of the growth in heart failure in recent years, the demand for heart transplantation has escalated greatly. Brugada syndrome market size is expanding due to the increasing availability of diagnostic services for respiratory illnesses also fuels the growth of the market.
Several private and government insurance firms are present in developed countries. Over 50 private insurance companies are present in the US. Brugada syndrome market sales are soaring as the policies cover more than 75% of the cost of the devices and treatment. For instance, under the Medicare plan in the US, if the standard price of single chamber devices is roughly USD 10,000, then USD 7,500 is reimbursed. Further, in developed nations such as the UK, Canada, Germany, and others, homogeneous reimbursement policies are available.
Recent trends influencing the market
Several companies are concentrating on organic growth strategies, which involve product consent, product launches, and others such as events and patents. Inorganic growth strategies highly embraced by key players include partnerships, collaborations, and acquisitions.
The African market for Brugada syndrome displays a balanced growth because of the rise in consciousness about chronic health conditions and the advancement of better healthcare facilities. This region has been observing a prospering growth in the diagnostic devices market and computed tomography and magnetic resonance imaging. As the consciousness about chronic obstructive pulmonary disease in Africa rises, the adequacy of novel therapies is increasing among patients.
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Segmentation assessment
Based on the diagnosis, the electrocardiogram diagnosis segment accounted for a major share. Brugada syndrome market demand is rising due to genetic testing being important in recognizing the probability of receiving specific illnesses in screening and, in certain cases, medical treatment. Echocardiography generates images of the heart using sound waves. The test cannot diagnose the syndrome on its own, but it can help in the recognition of structural cardiac issues.
Based on treatment, Implantable cardioverter defibrillator accounted for the fastest-growing segment. Brugada syndrome market trends include brugada syndrome being a notable cause of unexpected cardiac mortality in young people. Some medications frequently utilized during the perioperative phase might produce ventricular arrhythmias.
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Brugada Syndrome Market: Report Scope & Coverage
Geographic Overview
North America held the largest brugada syndrome market share due to the rising usage of electrocardiograms, electrophysiology (EP) tests for illness diagnosis, and an extensive populace diagnosed with ailments related to the heart. Additionally, due to the prevalence of a significant number of market contenders manufacturing brugada syndrome drugs and growing knowledge about probabilities and cases of the condition, the US is the largest market in North America.
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Polaris Market Research has segmented the Brugada market report based on diagnosis, treatment, end-use, and region:
By Diagnosis Outlook
By Treatment Outlook
By End Use Outlook
By Region Outlook
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