Research Nester published a report titled “Tricuspid Insufficiency Treatment Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global tricuspid insufficiency treatment market in terms of market segmentation by disease type, end user, surgery type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global tricuspid insufficiency treatment market is estimated to occupy a large revenue by growing at a CAGR of ~18% during the forecast period, i.e., 2022 – 2030, owing to the escalating preference for minimally invasive heart surgeries, increasing demand for treating several tricuspid conditions, and growing geriatric population. Apart from these, rising emphasis of manufacturers to expand their geographical presence is also expected to drive market growth.
The market is segmented by disease type, end user and surgery type. Based on end user, the segment for hospitals is anticipated to grab the largest market share during the forecast period on the back of growing prevalence of open heart and minimally invasive surgeries in hospital facilities. Additionally, on the basis of surgery type, the minimally invasive segment is projected to witness the highest growth over the forecast period ascribing to the faster recovery time and fewer operative complications of these surgeries.
Geographically, the global tricuspid insufficiency treatment market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. The market in Europe is assessed to grow by a noteworthy rate in the forecast period owing to the rising adoption of this treatment in several European countries, majorly in Germany, and increasing R&D activities associated with cardiovascular medical devices in the region.
Increasing Preference for Minimally Invasive Heart Surgeries to Boost Market Growth
Since the last few years, minimally invasive surgeries are widely being preferred over open-heart surgeries by many patients and medical health professionals owing to its benefits such as lower stress on the immune system, less postoperative pain and smaller incision. This is considered to be major factor predicted to drive the demand for tricuspid insufficiency treatment in the near future.
However, absence of awareness about the treatment in lower economic regions is expected to operate as key restraint to the growth of the tricuspid insufficiency treatment market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global tricuspid insufficiency treatment market which includes company profiling of Abbott Laboratories, Medtronic plc, Edwards Lifesciences Corporation, LivaNova, PLC, Sorin S.p.A., Cyberonics, Inc., Hologic, Inc., Intuitive Surgical, Sonova Holding AG, Hill-Rom Holdings Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global tricuspid insufficiency treatment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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