According to the current analysis of Reports and Data, the global transcatheter pulmonary valve replacement 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 pulmonary valve replacement 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 pulmonary 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 from 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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Some Key Factors Contributing to the Global Pharma Healthcare Market Growth
Unprecedented revenue growth of the global pharma healthcare industry is attributed to factors such as rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options – especially in developing countries like India and China – rise in RD activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.
Further key findings from the report suggest
- transcatheter pulmonary valve replacement 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 pulmonary 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 pulmonary valve replacement in the region..
Top Players in the Global Transcatheter Pulmonary Valve (TPV) Therapy Market:
Medtronic, Edward Lifesciences, Cryolife Inc, and Venus Medtech.
The coronavirus pandemic has had a drastic impact on the global healthcare industry, with rising cases of COVID-19 worldwide, substantially growing hospital admission and readmission rates, and rising demand for telehealth and telemedicine services for remote patient monitoring. Furthermore, rising focus on development of rapid COVID-19 diagnostics such as the RT-PCR test kits, increased government funding for vaccine development, stringent regulatory norms and protocols for COVID-19 safety, and increasing sales of COVID-19 safety equipment, such as N-95 masks, face shields, PPE kits, and hand sanitizers, have driven the global pharma healthcare industry revenue growth over the recent past.
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Transcatheter Pulmonary Valve (TPV) Therapy Market Segmentation:
Type (Revenue, USD Million; 2018–2028)
- Balloon expanded
- Self-expanded Transcatheter Valve
Application Outlook (Revenue, USD Million; 2018–2028)
- Cardiology Centers
Global Transcatheter Pulmonary Valve (TPV) Therapy Market Report: Regional Segmentation
- North America
- Asia Pacific
- Latin America
- Middle East Africa
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