Market is Estimated to Surpass a Value of $10 Billion by 2030

On Nov 17, 2021

Dublin, Nov. 17, 2021 (GLOBE NEWSWIRE) — The “Global Transcatheter Tricuspid Valve Intervention (TTVI) Market (2021-2030)” report has been added to ResearchAndMarkets.com’s offering.

The Global Transcatheter Tricuspid Valve Intervention (TTVI) market is projected to display noteworthy growth and estimated to reach value of USD 10.17 billion by the year 2030 with Europe region leading the regional market share.

Demand for transcatheter valvular therapeutics for tricuspid valve diseases in line with rising aged population globally that are more prone to such diseases is likely to boost the market growth. Moreover, tricuspid valve intervention (repair and replacement) device developments and their upcoming medical approvals across countries is also creating positive outlook for the market growth.

Europe region is estimated to be the fastest growing regional market for the TTVI in the forecast period of 2021-25, whereas Asia-Pacific will take the lead in the second half from 2026-30.

The growth of the European market can be attributed to early approvals of some tricuspid valve repair devices, rising burden of tricuspid valve disorders, ageing population and high per-capita healthcare spending in regional countries.

Whereas, APAC region growth will witness lucrative growth owing to factors like huge unmet needs of patients suffering from tricuspid valve disorders, rapidly expanding healthcare infrastructure, surge in medical tourism and rising healthcare spending by both public and private sectors in the regional countries. Meanwhile, North America will hold the second biggest share in TTVI market and will grow at a robust pace as well.

The emergence of COVID-19 has brought the world to a standstill. This health crisis has brought an unprecedented impact on businesses across industries, including the cardiovascular (heart) care and other related industries.

The COVID-19 epidemic has disrupted the clinical & confirmatory trials, pipeline milestones, or regulatory clearances and approvals of tricuspid valve repair & replacement devices in different nations because of lockdowns, travel boycotts, and implementation of “stay-at-home” orders. With the suspension or delay of screening, medical association’s approvals and clinical trial activities, COVID-19 has fundamentally reshaped clinical & surgical practice at every level.

Rising prevalence of tricuspid valve diseases, increasing preference for transcatheter tricuspid valve intervention devices for treatment, and technological advancements leading to enhanced applications of Transcatheter Tricuspid Valve Intervention.

Furthermore, the growing preference for minimally-invasive surgeries over traditional/open heart surgeries will drive the utilization of TTVI procedures, such as valve repair and replacement interventions. These factors, in turn, are projected to fuel the demand for Transcatheter Tricuspid Valve Intervention over the coming years.

Scope of the Report:

The report analyses the…