The global contingent heart disease market is anticipated to grow at a CAGR of nearly 9.1% during the forecast period (2024-2031). Key companies across the globe are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launch, and product innovation to remain competitive in the marketplace. For instance, in November 2020, Abbott laboratories launched its clip delivery system, which is a minimally invasive heart valve repair device to treat mitral regurgitation in India. The clip device repairs leaky mitral valves without open-heart surgery and is delivered to the heart through a vein in the leg.
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Apart from this, in March 2021, the US Food and Drug Administration (FDA) approved first of its kind heart valve which takes the open heart part out of certain open-heart surgeries. The Medtronic harmony transcatheter pulmonary valve provided by the company is the first pulmonary heart valve in the world to be approved for patients with congenital heart disease without requiring open-heart surgery. Additionally, in January 2019, Siemens Healthineers introduced its portfolio in MRI, X-ray machines ultrasound, cutting edge technology with CT scanners, and digital solutions in Chandigarh, India. Syngo virtual cockpit by Seimens Healthineers can be used by medical staff for more sophisticated examination for MRI and ct scans.
Besides, in November 2020, Viatris Inc. launched a combination of Mylan N. V AND Pfizers Upjohn’s business. The combination will allow Viatris, to leverage scientific, manufacturing, and distribution expertise with proven regulatory, medical and global commercial capabilities to deliver high-quality medicine to patients in over 165 countries and territories. Furthermore, in November 2020, Mylan officially announced that the company is stopping its operations and will be a part of Viatris Inc. These kinds of partnerships are offering an opportunity for the introduction of more innovative devices, drugs, and diagnostic tools for accurate diagnosis and treatment of the condition. This, in turn, is expected to provide enormous opportunity for the market growth.
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Market Coverage
- Segment Covered-
o By Defect Type
o By Diagnosis
o By Treatment
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Pfizer Inc., Siemens Healthineers, GlaxoSmithKline plc, AstraZeneca plc, Abbott laboratories, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Contingent Heart Disease Market Report Segment
By Defect Type
- Heart Valve Defect
- Heart Wall Defects
- Blood Vessels Defect
By Diagnosis
- Echocardiogram
- Chest X-Ray
- MRI Scan
- Others
By Treatment
- Medications
- Implantable Heart Devices
- Catheter Procedures
- Open Heart Surgery
- Heart Transplant
By Diagnosis
- Hospitals and Clinics
- Diagnostic Centers
- Other
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