The market for congenital heart disease across the globe is expected to grow impressively during the forecast period. The factors driving the growth of the global congenital heart disease market are rising prevalence of congenital heart disease and rise in adoption of minimally invasive procedures. Further, large number of dominating market players, growing demand for catheterization and application of cardiac biomarkers in congenital heart disease treatment are also considered as a major factor for driving the growth of the global congenital heart disease market during forecast period. In addition, advances and research in congenital heart disease and significant research funding for various projects are creating enormous opportunities for the global congenital heart disease market in coming years. The diagnosis and treatment for congenital heart disease has been changed significantly during the last decade. New interventional cardiology procedure and improved surgical techniques results in using minimally invasive techniques for the treatment of congenital heart disease. Adoption of minimally invasive technique reduces the patient’s surgical offence and also reduced hospital stay time.
In the US, one of the leading cause of infant deaths is congenital heart disease and accounts for more than half of all deaths from congenital anomalies across the globe. During heart development, structural defects arises which causes congenital heart disease. Congenital heart disease is the most common type of birth defect, affecting around 8 per 1000 live births in the US, approximately 25% of whom will require invasive treatment within the first year of life. This increasing prevalence of congenital heart disease is expected to increase the demand for diagnosis and treatment across the globe.
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The global congenital heart disease market is analysed on the basis of geographical regions that are contributing significantly to the growth of the market. North America is estimated to be the dominating region in the global congenital heart disease market. Increasing adoption of minimally invasive procedures and large number of market players in this region is estimated to be the major factors that are backing the growth of the market. Whereas, Asia Pacific is estimated to be the fastest growing region during the forecast period. Growing demand for catheterization and application of cardiac biomarkers for the treatment of congenital heart disease are some of the major factors that are driving the growth of the congenital heart disease market in the region.
Key players of congenital heart disease market include Abbott Diagnostics, Array Biopharma, Inc., AstraZeneca Plc, Becton and Dickson & Co., BG Medicine Inc., Bio-Rad Laboratories, Boston Scientific Corporation, Covance, Critical Diagnostics, F. Hoffmann-La Roche Ltd, Glaxosmithkline PLC, Janssen Pharmaceuticals, Inc., Medtronic, Merck & Co., Inc., and Mylan N.V. These market players are increasingly competing against each other by adopting different market strategies such as merger & acquisition, partnership & collaboration and so on.
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