Truncus Arteriosus Market - Overview —
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 market over the assessment period.
Key players in the Global Truncus Arteriosus Market:
Some of the major players in this market are Boston Scientific Corporation (U.S.), Coloplast (Denmark), Dispocard GmbH (Germany), St. Jude Medical (U.S.), Abbott Laboratories (U.S.), Johnson & Johnson (U.S.), Teleflex Incorporated (U.S.)., Smiths Medical (U.S.), Edwards Life Sciences Corporation (U.S.), Medtronic Inc (U.S.), Rochester Medical Corporation (U.S), Maquet Medical India Private Limited (India), Terumo Medical Corporation (Japan), AstraZeneca plc., Pfizer Inc., Novartis AG, Merck & Co., Inc., Bristol-Myers Squibb Company, Bayer AG, Sanofi, Boehringer Ingelheim GmbH, F. Hoffmann-La Roche Ltd, Gilead Sciences, Inc., Astellas Pharma, Inc., Eli Lilly and Company, Otsuka Holdings Co., Ltd., Takeda Pharmaceutical Company Limited.
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The Americas accounted for the major share of the market owing to the presence of a huge population suffering from heart disease, high healthcare expenditure, well-developed technology, and the presence of the leading players in the region. Furthermore, rising government support for the development of the advanced devices and well-developed healthcare sector has boosted the growth of the truncus arteriosus market in the Americas.
Europe accounted for the second largest market for the truncus arteriosus, which is followed by Asia Pacific. Increasing prevalence of the cardiovascular diseases, diabetes, and huge healthcare spending are the major driving factors that have boosted the market growth. Additionally, the healthcare expenditure in this region is also rising. People and healthcare organizations in this region are able to afford the high cost of the cardiovascular devices, which is further fuelling the growth of the market. Furthermore, increasing government support and funding for the development and improvement of the treatments have also contributed to the growth of the market.
Asia Pacific is the fastest growing truncus arteriosus market. Increasing need for better devices, rapidly improving technology, and the presence of huge patient pool is driving the growth of the market in this region.
The Middle East & Africa holds the least share of the market owing to the presence of poor and slow developing countries, especially, in the African region. The major driving factors for the growth of the Middle East & African truncus arteriosus market are increasing a number of diabetic and cardiovascular patients.
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 into echocardiogram and X-ray while on the basis of treatment the market is segmented into medication, surgery, cardiac catheterization, and others.
The medication segment 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.
Major TOC of Truncus Arteriosus Market Research Report - Global Forecast till 2023:
2.2 Scope Of The Study
2.2.1 Research Objective
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
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