Transcatheter Pulmonary Valve Market - Growth, Trends, and Forecasts (2020 - 2025)
Transcatheter Pulmonary Valve therapy usually restores pulmonary valve function while delaying open-heart surgery as long as possible. It has become the treatment of choice in most congenital heart disease patients. The growing burden of congenital heart disease and increasing awareness of transcatheter pulmonary valve therapy is the main factor that is boosting the growth of the transcatheter pulmonary valve market. Additionally, the rising geriatric population will surge the demand for these valves in the future years. According to the World Health Organization (WHO), between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. The growing geriatrics population with heart valve disorders is expected to rise. However, the availability of alternative technologies and stringent regulations is expected to impede the growth of the global market in the forecast period.
Balloon-Expanded Transcatheter Valve is Expected to Show Better Growth in the Forecast Period
Based on technology, the market is segmented into Balloon-Expanded Transcatheter Valve and Self-Expanded Transcatheter Valve. Balloon-Expanded Transcatheter Valve segment is expected to show better growth in the forecast period, owing to their high adoption rate and rising development of new products. The high growth is attributed to the growing interest of manufacturers in balloon expanded technology and rising awareness among the population. Transcatheter valves offer a shorter and easier procedure and faster recovery. They also offer a nonsurgical alternative to patients who are not fit to undergo surgery. The high accuracy and precision of the results using this technology are also expected to support transcatheter pulmonary valve market growth.
North America is Expected to Lead the Transcatheter Pulmonary Valve Market
North America is expected to lead the transcatheter pulmonary valve market, owing to the presence of the highly developed healthcare sector, along with the increasing prevalence of disorders such as pulmonary stenosis and regurgitation. Moreover, Congenital Heart Disease (CHD) is a leading cause of birth defect-associated infant illness and death. According to the Centers for Disease Control and Prevention (CDC), CHD affects nearly 1% or about 40,000 births per year in the United States. Other factors such as increased awareness, growing demand for innovative heart valves and rising healthcare expenditure is expected to drive the market in the forecast period.
The leading players in the global market for the transcatheter pulmonary valve are - Boston Scientific Corporation, Braile Biomedica, CryoLife, Inc., Edwards Lifesciences Corporation, JenaValve Technology, Inc, LivaNova PLC, Medtronic PLC and Venus Medtech.