Global Congenital Heart Disease Market 2022-2028

Global Congenital Heart Disease Market 2022-2028

The congenital heart disease market is estimated to grow at a CAGR of 8.2% during the forecast period (2022-2028). The growth is attributed to increasing cases of congenital heart defects among new-born infants along with growing research to develop innovative treatments for congenital heart defects. Further, increasing research grants provided by the government to develop an innovative treatment for congenital heart disease is also contributing to market growth. For instance, jointly funded with the Meil Family Foundation, Project Heart, and the Dale Amorosia Heart Fund, and Adult Congenital Heart Association (ACHA) funded six research grants in 2021 for advancing the science of congenital heart disease in adults, including three provider grants and three fellow grants. With the advent of this new ACHA program, the organization is aimed at improving the lives of congenital heart disease patients and future generations in partnership with medical professionals.

Congenital Heart Disease Market Overview by Heart Defect

There are various heart defects which are classified on the basis of their site that include heart wall defect, heart valve defect, and blood vessel defect. Heart defects can interrupt normal blood flow and can cause serious problems. The most common type of heart defect is heart wall defect which includes ventricular septal defect, atrial septal defect, and atrioventricular septal defect, among others. Whereas, heart valve defect includes tricuspid valve stenosis, pulmonic valve stenosis, mitral valve stenosis, and aortic valve stenosis, among others. Blood vessel defect includes coarctation of the aorta, d-transposition of the great arteries, and complete atrioventricular canal, among others. The market for heart valve segment held the highest share. This growth is attributed to a higher number of procedures performed for heart valve repair.

Congenital Heart Disease Market Overview by Geography

Geographically, the global congenital heart disease market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW) that include Latin America and Middle East and Africa. Among these regions, North America held the highest share owing to the contribution from major economies including the US and Canada. Countries in this region have a well-planned reimbursement program, high healthcare expenditure, a sophisticated healthcare system, and the contribution of large market players are the major factors that are driving the market in North America.

Congenital Heart Disease Market Overview by Players

The global congenital heart disease market is driven by the contribution of a large number of active market players globally. The players operating in the congenital heart disease market offer a broad product portfolio for treating and preventing congenital heart defects and improving the quality of life of the people living with such disease. The top players operating in the global congenital heart disease market include. The top companies that work in congenital heart defect market include Medtronic PLC, Boston Scientific Corp., Edward Lifesciences Corp., W.L. Gore & Associates, Inc., Abbott Laboratories, Inc., Becton Dickinson and Company, and Thermo Fisher Scientific, Inc., among others that are contributing significantly to the growth of the overall market.