Australia Cardiovascular Diseases Therapeutics Market Report 2022 to 2030

Australia Cardiovascular Diseases Therapeutics Market Analysis

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Australia's cardiovascular disease therapeutics market is expected to witness growth from $1.95 Bn in 2022 to $3.81 Bn in 2030 with a CAGR of 8.72% for the year 2022-2030. The rising prevalence of cardiovascular diseases and the demand for innovative therapeutic options for treatment in Australia is responsible for the expansion of the market. The Australian cardiovascular disease therapeutics market is segmented by disease indication, drug type, route of administration, drug classification, mode of purchase, and by end user. Folarix Pharmaceutical, Adelco Pharmaceuticals, and AstraZeneca are the major players in the Australian cardiovascular disease therapeutics market.

ID: IN10AUPH033 CATEGORY: Pharmaceuticals GEOGRAPHY: Australia AUTHOR: Parul Choudhary

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Australia Cardiovascular Disease Therapeutics Market Executive Analysis

Australia's cardiovascular disease therapeutics market size is at around $1.95 Bn in 2022 and is projected to reach $3.81 Bn in 2030, exhibiting a CAGR of 8.72% during the forecast period. $105.8 Bn is projected to be spent overall on health in 2022-23, 16.8% of all government expenditures in Australia. Because of the cessation of COVID-19-related payments, overall expenses are anticipated to drop by 8.3% between 2021-22 and 2022-23 and by 4.4% between 2022-23 and 2025-26. In 2022-23, the Australian Government's Pharmaceutical Benefits Scheme (PBS) medicine payments will account for the majority of the $17.2 Bn, or 16.3%, in pharmaceutical benefits and services. In 2022-23, the Australian Government's assistance to the states and territories, which includes funding for public hospitals, will reach $27.3 Bn, or 25.8% of all health expenditures.

In Australia, cardiovascular diseases, which impact the heart and blood vessels, are the main cause of death. Heart illness, stroke, or vascular conditions affect more than 1 Mn Australians. Current regulations in Australia suggest using combination therapy along with dietary and behavioural modifications to address atherosclerotic CVD. Antiplatelet medications, lipid- and blood pressure (BP)-lowering drugs, as well as beta-blockers and ACE inhibitors for specific individuals after a MI are all at the very least included in this, even for those with normal blood pressure or cholesterol levels. Preventive medication use in Australia has been found to vary depending on patient characteristics, with younger people, women, those residing outside of cities, and those in better socioeconomic status using medication less frequently than their counterparts.

australia cardiovascular disease therapeutics market

Market Dynamics

Market Growth Drivers

Australia is experiencing an increase in the frequency of CVD due to conditions like obesity, diabetes, and high blood pressure. The country's need for CVD medicines is anticipated to rise as a result. The Australia cardiovascular disease therapeutics market is anticipated to be driven by the introduction of new medical technologies, such as minimally invasive procedures. By reducing hospital stays and recovery periods, these technologies can enhance patient outcomes. To advance CVD prevention, diagnosis, and treatment, the Australian government has been funding medical research and healthcare. Along with subsidies for specific medical procedures and treatments, this also includes funding for clinical trials and investigations.

Market Restraints

The expense of treating CVD in Australia can be high, which may restrict some patients' access to care. This may have an effect on the desire for CVD treatments, especially among patients with lower incomes. In the upcoming years, the patent protection on several popular drugs used to treat CVD will expire, which will likely result in more rivalry from generic medications. Some CVD therapeutics businesses' revenue growth may be impacted by this.

Competitive Landscape

Key Players

Radpharm Scientific (AUS)
MEDISCA (AUS)
Xenexus Pharmaceuticals (AUS)
Folarix Pharmaceutical (AUS)
Adelco Pharmaceuticals (AUS)
AstraZeneca
Sanofi
Novartis
Merck
Gilead Sciences
F. Hoffmann-La Roche

Healthcare Policies and Regulatory Landscape

The Medicare Benefits Schedule (MBS) is a list of medical treatments and operations that the federal government covers as part of Medicare. The MBS covers a variety of cardiovascular operations and treatments, including angioplasty, cardiac rehabilitation, and bypass surgery. Certain prescription drugs, such as statins, anticoagulants, and blood pressure medications, as well as those used to manage cardiovascular conditions, are covered by the Pharmaceutical Benefits Scheme (PBS). Additionally, Australians have the option of purchasing private health insurance, which may pay for cardiovascular treatments not covered by Medicare. Access to private hospitals and quicker treatment wait periods can both be made possible by private health insurance. Programs that assist patients in recovering from a cardiovascular event and lowering their chance of additional events are funded by the Australian government. These programs include exercise, instruction, and lifestyle counseling.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Cardiovascular Disease Therapeutics Segmentation

By Disease Indication (Revenue, USD Billion):

Hypertension
Coronary Artery Disease
Hyperlipidaemia
Arrhythmia
Others

By Drug Type (Revenue, USD Billion):

Antihypertensive
Anticoagulants
Antihyperlipidemic
Antiplatelet Drugs
Others

By Route of Administration (Revenue, USD Billion):

Oral
Parenteral
Others

By Drug Classification (Revenue, USD Billion):

Branded Drugs
Generic Drugs

By Mode of Purchase (Revenue, USD Billion):

Prescription-Based Drugs
Over-The-Counter Drugs

By End Users (Revenue, USD Billion):

Hospital Pharmacies
Online Pharmacies
Retail Pharmacies
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.