Market Trends of Global Transcatheter Pulmonary Valve Industry
This section covers the major market trends shaping the Transcatheter Pulmonary Valve Market according to our research experts:
Balloon-Expanded Transcatheter Valve Segment is Expected to Witness a Significant Growth Over the Forecast Period
The Balloon-Expanded Transcatheter Valve segment is expected to witness significant growth over the forecast period owing to the factors such as its high adoption rate and rising development of new products. In addition, the growing interest of manufacturers in balloon-expanded technology and rising awareness among the population is also contributing to the growth of the studied market. The high accuracy and precision of the results using this technology are expected to increase segment growth over the forecast period. For instance, according to an article published by the Frontiers Cardiovascular Medicines journal, in March 2022, it has been observed that the burden of rheumatic heart disease (RHD) and patients with pure aortic regurgitation (AR) is increasing in emerging and industrialized countries. This increases the need to extend transcatheter treatments to patients with non-calcified regurgitant aortic valves. Thus, the demand for transcatheter in treating a patient with pulmonary valve defects, thereby propelling the market growth.
Additionally, according to an article published by the Elsevier JACC: Asia journal, in September 2021, due to the increasing burden of bicuspid aortic valves in some Asian countries, the new generation balloon-expandable valve (BEV) is found to be an alternative for treating patients with aortic valve disorders. In addition, as per the same source, it has been observed that anomaly, deeply calcified, bigger annular bicuspid aortic valves (BAVs), which were deemed ineligible for transcatheter aortic valve replacement (TAVR) due to a high risk of paravalvular leak (PVL), coronary artery obstruction, permanent pacemaker implantation (PPI), and aortic rupture, might be safely treated with versatile procedures applied to balloon-expandable valve (BEV). Thus, the increasing usage of the balloon-expandable valve in treating patients with aortic regurgitation and bicuspid aortic valve disorders is expected to increase the adoption and demand for balloon-expanded transcatheter valves, thereby fueling market growth.
Thus, owing to the factors above, the studied market is expected to grow during the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant share in the transcatheter pulmonary valve market, owing to the presence of a well-developed healthcare sector, along with the increasing prevalence of disorders such as pulmonary stenosis and regurgitation. In addition, rising awareness, growing demand for innovative heart valves, and increasing healthcare expenditure are expected to drive market growth over the forecast period. For instance, according to the Organization for Economic Co-operation and Development (OECD), in June 2022, United States healthcare spending, in 2021 was 17.8% of the total GDP of the country. Additionally, as per the data published by the Centers for Medicare & Medicaid Services, in March 2022, it has been observed that the annual growth in national health spending is expected to average 5.1% over 2021-2030. Thus, the rising health spending in the country is expected to increase company activities and government initiatives in developing efficient transcatheter pulmonary valves, thereby propelling the market growth
Furthermore, the rising burden of heart valve disorders, congenital heart disease, and aortic regurgitation among the population is expected to drive market growth over the forecast period. For instance, according to an article published by StatPearls, in April 2022, the prevalence of aortic regurgitation in the United States was between 4.9% and 10%. In addition, as per the same source, it has been observed that men (13%) are more likely to be affected by aortic regurgitation than women (8.5%). Similarly, according to the 2022 statistics published by the Centers for Disease Control and Prevention (CDC), CHD affects nearly 1% or about 40,000 births per year in the United States. Thus, the increasing prevalence of aortic regurgitation is expected to increase the demand for effective treatment which in turn is anticipated to augment the market growth over the forecast period.
Moreover, the rising company's focus on research and development activities as well as increasing product approvals in the region is expected to increase the market growth over the forecast period. For instance, in August 2021, the United States Food and Drug Administration (FDA) approved Medtronic's Evolut FX TAVR system, the newest-generation, self-expanding transcatheter aortic valve replacement (TAVR) system, to enhance ease of use and provide greater precision and control throughout the symptomatic severe aortic stenosis procedure. The Evolut technology is equipped with gold markers built into the frame to provide implanters with direct visualization of depth and valve leaflet location during implant. Also, in March 2021, the United States Food and Drug Administration approved Harmony Transcatheter Pulmonary Valve (TPV) System, a non-surgical heart valve to treat pediatric and adult patients with a native or surgically repaired right ventricular outflow tract (RVOT). The device is intended to improve blood flow to the lungs in patients with severe pulmonary valve regurgitation without open-heart surgery.
Thus, owing to the aforementioned factors, the studied market is expected to grow in the region over the forecast period.
