Truncus arteriosus is a rare congenital heart disease/defect. If the baby has truncus arteriosus, it means that one large blood vessel leads out of the heart instead of two separate vessels. Moreover, in this condition, usually, there is a hole known as a ventricular septal defect present between the two lower chambers of the heart. As a result of truncus arteriosus, oxygen-poor blood that should go to the lungs and oxygen-rich blood that should go to the rest of the body are mixed together which leads to severe circulatory problems. However, if untreated, truncus arteriosus can be fatal.
The truncus arteriosus market is expecting a sound growth in coming future owing to the increasing demand for various cardiovascular devices, increasing prevalence of cardiovascular diseases, and favorable reimbursement policies. In some cases, maternal diabetes may lead to truncus arteriosus. However, mostly all diabetic patients suffer from some or the other cardiovascular disease. According to the findings from the WHO in 2014, approximately 422 million people reported suffering from diabetes. Due to the increasing diabetic population across the globe, there is a significant increase in the number of people suffering from cardiovascular diseases. According to the World Health Organization (WHO), in 2015, over 17.7 million people died from cardiovascular diseases, representing 31% of all global deaths of which 82% were in the low- and middle-income countries. Additionally, according to the Centers for Disease Control and Prevention (2015), over 630,000 Americans die from heart disease each year, which accounts for 1 in every 4 death.
Additionally, increasing geriatric population and increasing healthcare expenditure have fuelled the growth of this market. On the other hand, higher cost of the treatments may slow the growth of the market during the forecast period.
The Truncus Arteriosus Market is expected to grow at a CAGR of 7.8% during the forecast period 2017-2023.
Figure- Truncus Arteriosus Market, by region 2016(%)
Key players in the Truncus Arteriosus Market:
Some of the major players in truncus arteriosus 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.
The truncus arteriosus market has been segmented on the basis of types, diagnosis, treatment, and end user.
On the basis of the types, the truncus arteriosus market is segmented into type I, type II, type III.
Based on the diagnosis, truncus arteriosus market 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 truncus arteriosus market is segmented into hospitals & clinics, cardiac care centers, ambulatory centers & home care, academic institutes, and others.
Source: U.S. National Library of Medicine, U.S. Food and Drug Administration, U.S. Department of Health and Human Services, National Institutes of Health, Expert Interview, Annual report, White paper, Company Presentation, MRFR Analysis
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.
|Market Size||2027: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Types, Diagnosis, Treatment, and End user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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.|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
The truncus arteriosus market is projected to grow at a 7.8% CAGR between 2017-2023.
The Americas is projected to lead the truncus arteriosus market.
End users of the truncus arteriosus market include academic institutes, ambulatory centers and home care, cardiac care centers, and hospitals & clinics.
Increasing healthcare expenditure and favorable reimbursement policies are the key factors driving the truncus arteriosus market growth.
High treatment cost may limit the truncus arteriosus market growth.