Truncus Arteriosus Market Outlook, Growth Values and Forecast to 2023
Market Highlights:
Truncus arteriosus is a rare congenital cardiovascular disease. In this condition, the embryological structure known as the truncus arteriosus fails to properly divide into the pulmonary trunk and aorta. Increasing prevalence of cardiovascular diseases, adoption of advanced techniques in diagnosis, and increasing government support is driving the growth of the market. According to the World Health Organization, 422 million people across the globe are suffering from diabetes. Diabetes is the major reason for cardiovascular diseases. Increasing prevalence of diabetes, rapidly developing technology, across the globe is further fuelling the growth of the market.
However, higher cost of the treatment methods may slow the growth of the Truncus Arteriosus Market Trends over the assessment period.
Key Players:
- Boston Scientific Corporation
- Coloplast
- Dispocard GmbH
- Jude Medical
- Abbott Laboratories
- Johnson & Johnson
- Teleflex Incorporated
- Smiths Medical
- Edwards Life Sciences Corporation
- Medtronic Inc
- Rochester Medical Corporation
- Maquet Medical India Private Limited
Segmentation:
- The global truncus arteriosus market has been segmented on the basis of types, diagnosis, treatment and end user.
- On the basis of the types, the global truncus arteriosus market is segmented into type I, type II, type III. Based on the diagnosis, it is segmented echocardiogram and X-ray.
- On the basis of treatment, the market is segmented into medication, surgery, cardiac catheterization, others. Medications can be further segmented into diuretics, ionotropic agents.
- On the basis of the end users, the market is segmented into hospitals & clinics, cardiac care centers, ambulatory centers & home care, academic institutes, and others.
Regional Analysis:
The Americas command a major share of the market owing to the huge patient population suffering from cardiovascular diseases & diabetes, increasing demand for the advanced devices, and strong government support. Additionally, availability of funds is expected to fuel the growth of the market.
Europe accounts for the second largest market across the globe, which is followed by Asia Pacific. Strong government support, availability of funds for research, and high healthcare expenditure is driving the growth of the market in this region.
Asia Pacific is the fastest growing market owing to increasing need for better devices, rapidly improving technology, and the presence of huge patient pool. China and India are the key contributors to the market. Additionally, increasing government support, and presence of huge opportunity have fuelled the growth of the market in Asia Pacific.