The Australian government recently updated its cardiovascular disease guidelines aimed at improving time to diagnosis and treatment, as part of its focus on preventative measures for cardiac health. Against this backdrop, Australia’s cardiovascular devices market is set to grow at a compound annual growth rate (CAGR) of over 8% between 2023 and 2030, forecasts GlobalData, a leading data, and analytics company.

GlobalData’s research reveals that Australia’s cardiovascular devices market will account for over 9% of the Asia-Pacific market in 2023. Cardiovascular disease is one of the leading causes of death in Australia. Aiming at addressing this problem, Australian government committed $1 million in the 2023 budget for the implementation of the new guidelines and the integration of a newly designed cardiovascular calculator into general practitioner software.

Pratibha Thammanabhatla, Medical Devices Analyst at GlobalData, comments: “The new guidelines are aimed at more accurately estimating the risk of cardiovascular diseases in order to enable timely diagnosis and treatment of the disease. As risk assessment continues to be a key factor for the prevention of cardiovascular diseases, this move by the Australian government is expected to bring a paradigm shift in the diagnosis and management of cardiovascular diseases in Australia.”

The new guidelines will replace the existing guidelines, with the calculator becoming the updated standard for cardiovascular risk assessment and management in Australia’s health care settings. The guidelines will consider factors such as mental health, ethnicity and family history in recommending target patients to be evaluated for cardiovascular risk assessment, and intensity of treatment.

Thammanabhatla concludes: “The Australian government is making significant contributions in offering several programmes, initiatives and schemes such as a Medicare Benefits Schedule, Pharmaceutical Benefits Scheme and Medical Research Future Fund to support treatment and management for cardiovascular diseases. Despite the rapid evolution of Australia’s healthcare system, there remain gaps in data collection and analysis. Enhancing digitisation, increasing investment in healthcare sector, focusing on patient centred data and establishment of a large-scale cardiovascular disease data systems are expected to address the current data gaps and drive the market further.”