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Transcatheter Pulmonary Valve (TPV) Market Extensive Growth Opportunities to be Witnessed by 2025
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Transcatheter Pulmonary Valve (TPV) market is driven by increasing prevalence of comorbidities like diabetes and cardiovascular diseases coupled with increasing incidence of Congestive Heart Diseases (CHD) among varied patient age groups. Transcatheter pulmonary valve mainly indicated for extension of functional life of RV-PA conduit, for restoring pulmonary valve competence, and for relieving conduit stenosis without inducing regurgitation in patients which makes the transcatheter pulmonary valve market lucrative over the forecast period.
n addition, valves effectives in prolonging the open heart surgeries backed with robust clinical effectiveness in three clinical trials is expected to boost the revenue growth of transcatheter pulmonary valve market over the forecast period. However, low target population for therapy and snail pace adoption in both developing and developed economies expected to may impact the transcatheter pulmonary valve market revenue growth negatively over the forecast period.
Transcatheter Pulmonary Valve (TPV) market is undergoing market changes due to promising clinical development of newer technologies in the pipeline and increasing demand for minimally invasice therapies among healthcare fraternity and patient groups. The first Transcatheter Pulmonary Valve (TPV) was introduced by Medtronic plc in 2010 under a Humanitarian Device Exemption (HDE), a regulatory approval for treatments intended for fewer than 4,000 U.S. patients per year. Later in 2015, Medtronic plc received Pre-Market Approval (PMA) from U.S. regulator Food and Drug Administration (FDA) company’s device Melody based on significant clinical evidence from three clinical trials.
Geographically, Transcatheter Pulmonary Valve (TPV) market is segmented into regions viz. North America, Latin America, Europe, Asia Pacific and Japan, Middle East and Africa. North America and Europe region is projected to maintain its lions share over the forecast period. Advanced healthcare infrastructure, availability well equipped healthcare professionals is expected to propel the demand for Transcatheter Pulmonary Valve (TPV) during the forecast period in the above mentioned region. Asia Pacific region is expected to be the moderately growing regional market. Growing healthcare facilities, increased healthcare awareness, and conducive regulatory environment are mainly generating the demand for Transcatheter Pulmonary Valve (TPV) in the region.
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The players in Transcatheter Pulmonary Valve (TPV) market include Medtronic plc., Edwards Lifesciences Corporation, VENUS MEDTECH etc.
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