June 30, 2020
According to the research report titled ‘Global Transcatheter Pulmonary Valve Replacement (TPVR) Market Analysis By Application Type, By End User, By Region, By Country (2020 Edition): Market Insights, Competition and Forecast (2020-2025)’, available with Market Study Report LLC, global transcatheter pulmonary valve replacement (TPVR) market was worth USD 287.6 million in 2019 and is expected to witness substantial growth over 2020-2025.
Increasing population and rising prevalence of cardiovascular diseases in consort with patient preference for minimally invasive procedures are propelling the growth of transcatheter pulmonary valve replacement (TPVR) market. The technology enables easy implantation and better results. Emphasis major players towards diversifying their product portfolio and expanding their regional footprint will stimulate the market outlook. Notably, TPVR market is defined by the existence of only three FDA approved products while numerous products are still at clinical stage.
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Speaking of the application spectrum, pulmonary regurgitation segment is likely to hold a substantial market share by the year 2025, pertaining to increasing adoption of less invasive procedures. Preference for TPVR over SAVR as market players are offering these procedures at low cost to the patients is aiding the segmental share. Moreover, to increase life expectancy, companies are providing a plethora of innovative products which is likely to have a positive impact on transcatheter pulmonary valve replacement market scenario over the anticipated timeline.
As per the end-user scope, transcatheter pulmonary valve replacement market is bifurcated into hospitals, ambulatory surgical centers, and other. The report cites that various healthcare institutes are gaining traction owing to huge investments in research & development activities, alongside rising instances of valvular diseases.
Considering the geographical hierarchy, Europe is reckoned to contribute substantially towards global transcatheter pulmonary valve replacement market revenues in the upcoming years. The growth can be credited to the popularity of minimally invasive procedures as they are more effective treating heart diseases. Additionally, economic emergence and increasing number of pulmonary stenosis & pulmonary regurgitation procedures in consort with presence of major players in nations like France and Italy will bolster Europe market growth.
The leading organizations in global transcatheter pulmonary valve replacement market are Edwards Lifesciences, Boston Scientific, Medtronic, Abbott, and Venus MedTech among others.