Increasing cardiovascular disease prevalence across the globe coupled with ongoing research and development is expected to stimulate market growth
According to the current analysis of Reports and Data, the global transcatheter pulmonic valve therapy market was valued at USD 56.45 Billion in 2020 and is expected to reach USD 98.63 Billion by the year 2028, at a CAGR of 7.25 percent. Transcatheter Pulmonic Valve Therapy has come up as the treatment of choice in most congenital heart disease patients with degeneration of a previous right ventricular outflow tract repair. To avoid the need for repeat median sternotomy procedures, less invasive catheter-based interventions to treat pulmonic valve dysfunction have been developed over time.
The global market is driven by the rising incidence of congenital heart diseases and increasing awareness associated with TPV Therapy. For instance, in the United States, the incidence of congenital heart defects ranges between 4 to10 cases per 1,000, clustering around 8 cases per 1,000 live births. Continental variations in birth prevalence have been observed, from about 6.9 cases per 1000 births in Europe to 9.3 cases per 1000 births in Asia. However, the relationship between valve size and balloon waist may reflect selection and procedural bias, which is likely to hinder the market growth
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Market Dynamics:
The pharma and healthcare sector has significantly advanced in the recent years and is expected to register steady revenue growth over the forecast period owing to rapid innovations in medical technology, increasing investments, rising healthcare expenditure and high adoption of advanced products and systems. Factors such as rising prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, and neurological disorders across the globe, rising cases of coronavirus, improving healthcare infrastructure and research facilities, and increasing adoption of remote patient monitoring services and home care settings are expected to fuel global market revenue growth over the forecast period. In addition, increasing number of hospitals and ambulatory care centers worldwide, high demand for personalized medicine, increasing investments in drug discovery and growing investments by public and private sectors are expected to drive global market growth in the coming years.
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product service portfolio. The Transcatheter Pulmonic Valve Therapy market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in RD, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the market are:
Medtronic, Edward Lifesciences, Cryolife Inc, and Venus Medtech.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Transcatheter Pulmonic Valve Therapy Market Segmentation:
Type (Revenue, USD Million; 2018–2028)
- Balloon expanded
- Self-expanded Transcatheter Valve
Application Outlook (Revenue, USD Million; 2018–2028)
- Hospitals
- Cardiology Centers
- Others
Geographic Segment Covered in the Report:
The Transcatheter Pulmonic Valve Therapy report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
• Europe (UK, Germany, France and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• Middle East and Africa (GCC and rest of the Middle East and Africa)
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Further key findings from the report suggest
- Transcatheter Pulmonic Valve Therapy market is rising at a high growth rate of 7.25 percent in Asia Pacific followed by North America and Europe. High incidence of cardiovascular diseases will drive the demand for the market during forecast period across all regions.
- The valuation for balloon expanded transcatheter Valve market was USD 56.45 Billion in 2020 and is expected to grow to USD 98.63 Billionby 2028. Benefits associated with transcatheter pulmonic Valve is the key factor supporting the increasing adoption of the theraphy and consequently contributing to the market growth.
- Asia Pacific is expected to witness a CAGR of 12.9 percent in the forecast period. Emerging markets such China and Japan are likely to witness high growth
- Regional reimbursement scenario is another key regulatory factor for adoption and growth of transcatheter pulmonic valve therapy in the region..
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