Report Overview

The Australian Cardiovascular disease market size stood at around USD 10.4 billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

The rise in the prevalence of various coronary heart diseases such as stroke, cardiomyopathy causing cardiac deaths and favorable reimbursement initiatives. Cardiovascular hospitalization rates were 30% higher among those living in remote and very remote areas than those in major cities of Australia, 5.6% of Australian adults had 1 or more -conditions related to the heart or vascular diseases including stroke, in 2017-2018. Also, the ongoing research activities by key players to develop technologically advanced cardiovascular drugs with reduced side effects such as biosimilars, monoclonal antibodies, and peptide therapies to save the life of the patients are expected to further boost the growth of the Australian cardiovascular disease market revenue throughout the forecast period.



Market Drivers

According to the Australian Bureau of Statistics (ABS), in 201718, the prevalence of heart, stroke, and vascular disease among adults (based on self-reported data). It was higher among men (6.5%) than women (4.8%) and it increased with agemore than 1 in 4 (26%) of those aged 75 and over had heart, stroke, and vascular disease.

The Cardiovascular Health Mission will invest $220 million over 10 years to bring together researchers, health professionals, industry, and patients to make transformative improvements in heart and vascular health and stroke for all Australians. There is an increase in people consuming drugs as they do not have to pay for the drugs, and this attracts more people to become aware and use their insurance policies for reimbursement of drugs.