The global transcatheter pulmonary valve market is expected to reach a value of USD 54.1 million by 2025, according to a new report by Grand View Research, Inc.
The technological advancements pertaining to heart valve technologies, and increasing number of clinical trials pipeline by various public and private players are some of the crucial factors expected to boost the market over the forecast period.
In 2015, North America held the majority of market share of nearly 80.6% in the global market. Some of the major drivers are increasing prevalence of the various cardiovascular disorders, growing geriatric population with heart valve diseases such as pulmonary stenosis, pulmonary regurgitation, and others, and rising awareness regarding the benefits of transcatheter valves over surgical procedures. The growing number of patients suffering from long-term heart disorders, rising awareness about technologically advanced heart valve, and increasing healthcare expenditures and reimbursement policies for overall transcatheter valves are some of the key contributors to the growth of the market globally.
However, Asia Pacific is expected to show a growth in this market after 2019, as there will be several product launch in this region. The Asia Pacific region is expected to grow at a lucrative growth rate owing to the growth of many developing economies like Japan and China. These developing countries show a potential of growth due to various contributors such as the increasing aging population and growing prevalence of heart diseases. Moreover, the presence of a large pool of patients, developing healthcare infrastructure & services, increasing disposable income, and rising government funding are some of the factors that are expected to drive the market during the forecast period.
Further key findings from the study suggest: - In 2015, tetralogy of Fallot (ToF) was the largest application segment, owing to the growing prevalence of ToF and the presence of huge product portfolio
- In 2015, balloon transcatheter valve segment held majority of the revenue share and is expected to be the fastest growing market during the forecast period
- The presence of huge patient base and growing interest among the private and public players to launch product after the completion of clinical trial in 2017 is expected to drive the Asia Pacific market
Some of the key players are Boston Scientific Corporation, Braile Biomédica, Direct Flow Medical, Edwards Lifesciences Corporation, JenaValve Technology, Inc., St. Jude Medical, SYMETIS, Colibri Heart Valve, LLC, VENUS MEDTECH, and XELTIS.
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