Prosthetic Heart Valve Market is Expected to Gain Popularity Across the Globe byPosted by rushi007 on October 14th, 2019 Heart valves play an important role in controlling the blood flow to and from the heart. The heart consists of four main types of valves that are tricuspid, pulmonary, mitral, and aortic valves. Prosthetic heart valves are commonly known as artificial valves that implanted in the heart of the patients suffering from the valvular heart disease. Thus, the surging incidence of heart disorders drives the prosthetic heart valve market over the forecast period. There are 3 types of prosthetic heart valve such as mechanical heart valve, tissue heart valve, and transcatheter heart valve.
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Market Dynamics
The aging population and increasing patient population of heart disease are expected to drive demand for prosthetic heart valve-based treatment in the future. For instance, According to the statistics of World Health Organization in 2012, 17.6 million people died of cardiovascular disease (CVD) worldwide, and proportionally, this accounts for 31.43% of global mortality. Moreover, The emergence of valve-in-valve procedures serves as a significant market opportunity for the prosthetic heart valve. Physicians are opting to use bioprosthetic valves because they are confident that in the case of tissue valve degeneration, they will be able to re-intervene and percutaneously implant a transcatheter valve. Given the high treatment costs associated with Transcatheter Aortic Heart Valve (TAVR), strict regulations by the government may restraint the market growth during the forecast period. However, if the cost of this technology can be reduced, as is expected with the approval of next-generation devices by manufacturers, the prosthetic heart valve will be the most lucrative market for medical device companies. For instance, in February, 2018, Medtronic Plc’s product- Mosaic bioprosthetic heart valve demonstrated positive performance and Long-Term Durability Up to 12 Years in International Study. This clinical study supports the long-term, robust performance of the Mosaic valve, and reinforces the trend in the decreasing average age of recipients.
Growing Aging Population and prevalence of valvular disease spur growth of the prosthetic heart valve market
Increasing geriatric population and prevalence of valvular heart disease will boost the demand of prosthetic heart valves market. According to the National Centre for Health Statistics, 2011, Heart disease is the leading cause of death in the U.S., killing more than 600,000 Americans each year. Continue focusing to advance surgical replacement technologies for patients with diseased, damaged or malfunctioning heart valves by manufacturers is expected to create a lucrative opportunities for the market over the forecast period. For instance, in 2017, Edwards Lifesciences Corporation received U.S. FDA approval for aortic and mitral valve-in-valve procedures using the Edwards SAPIEN 3 transcatheter heart valve. The SAPIEN 3 valve is the first transcatheter heart valve approved in the U.S. for the treatment of both aortic and mitral patients who are at high risk for a subsequent open-heart surgery to replace their bioprosthetic valve. On the contrary, the high costs associated with the devices mainly transcatheter aortic valve replacement devices and stringent government regulations may hamper the growth of the market.
The key players operating in the global prosthetic heart valves market include Boston Scientific Corporation, Edwards Lifesciences Corporation, Medtronic plc, LivaNova PLC, Abbott, Jenavalve Technology, Inc., Lepu Medical Technology Co., Ltd., CryoLife, Inc., and Neovasc Inc.
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Detailed Segmentation:
Global Prosthetic Heart Valves Market, By Product Type: Transcatheter Heart Valves Mechanical Heart Valves Tissue Heart Valves Global Prosthetic Heart Valves Market, By End User: Hospitals Ambulatory Surgical Centers Global Prosthetic Heart Valves Market, By Geography: North America Europe Asia Pacific Latin America Middle East Africa
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