Market Highlights
The market of Long QT syndrome (LQTS) is driven by factors like the prevalence of cardiovascular diseases & diabetes, and growing geriatric population. Moreover, rising per capita healthcare expenditure and increasing R&D expenses by the key players is fuelling the market growth over the forecast period. However, lack of awareness and stringent FDA approvals followed by the high cost of the surgical therapeutics pertaining to this disorder are restraining the market growth.
The global long QT syndrome market is expected to grow at a CAGR of 8.50% during the forecast period.
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.
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.
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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.
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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