Prosthetic heart valve which is also called as artificial heart valve is implanted in the heart of a patient with valvular heart disease. At c certain stage when treatment of heart valve disease does not provide relief to the patient, then this surgery is recommended as the best way to repair the valve. In valve replacement surgery, carbon based mechanical valves and biological tissue valve are the types of valves that can be selected based on the condition.
Theglobal prosthetic heart valve/ artificial heart valve market accounted to USD 4.53 billion in 2016 growing at a CAGR of 12.70% during the forecast period of 2017 to 2024.e up-coming market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Global Prosthetic Heart Valve Market, By Type (Transcatheter Heart Valve, Tissue Heart Valve, and Mechanical Heart Valve), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
FACTORS DRIVING GROWTH IN THE GLOBAL PROSTHETIC HEART VALVE MARKET
Increase in the prevalence of heart value disease and valvular heart disease:
The leading of death in U.S. is heart disease, killing more than 600,000 Americans each year. It was found that each year more than 5 million Americans are diagnosed with heart value disease. Heart valve disease can occur in any single valve or a combination of the four valves, but diseases of the aortic and mitral valves are the most common. Calcific aortic stenosis is the most common cause of aortic stenosis. Around 1.5 million people in the United States suffer from aortic stenosis, out of which approximately 500,000 among this group of patients suffer from severe aortic stenosis that is an estimated 250,000 patients with severe aortic stenosis. Around 80,000-85,000 aortic valve replacement procedures are performed every year in the U.S.
Rise in prevalence of cardiac disorders:
According to center for disease control and prevention, coronary heart disease is the most common type of heart disease, killing about 366,000 people in 2015. In the United States, there is a case of heart attack in every 40 seconds. Every minute, more than one person in the United States dies from a heart disease-related event. It was found that heart disease costs the United States around USD 200 billion each year.
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Market Drivers and Restraints:
- Increasing geriatric population.
- Rising prevalence and awareness of HVD
- Regulatory approval and growing demand of prosthetic heart valves
- Government support and funding
- Favorable reimbursement scenario
Frequently Asked Questions?
- What will the market size be in 2024?
- What are the key factors driving the global market?
- What are the challenges to market growth?
- Who are the key players in the market?
- What are the market opportunities and threats faced by the key players?
- What will be the growth rate in 2024?
- Which strategies are used by top players in theGlobal Prosthetic Heart Valve Market?
Global Competitive Analysis of Prosthetic Heart Valve Market
The global prosthetic heart valve/artificial heart valve market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes prosthetic heart valve/ artificial heart valve market shares for global, Europe, North America, Asia Pacific, and South America..
Key Market points:
Rise in incidence of heart diseases such as aortic stenosis and adoption of prosthetic valves is driving the growth of the prosthetic valves market. Other factors such as advanced technological development and rise of aging population also fuel the market growth.
Intense competition among the players results into high R&D for innovated products such as use of more noninvasive procedure, open heart surgery. For the improvement of healthcare sector, government is also supporting by donating more fundsso as to foster the demand for this particular market. However, some of the stringent regulations made by the government in particular regions may hinder the growth of this market.
Top Competitors of Market: Global Prosthetic Heart Valve Market
- Boston Scientific Corporation (U.S.),
- Medtronic (Ireland),
- Edwards Lifesciences Corporation (U.S.),
- St. Jude Medical,
- LLC. (U.S.),
- Jenavalve Technology, Inc. (Germany),
- LivaNova PLC (U.K.),
- CryoLife, Inc. (U.S.),
- SYMETIS (Switzerland),
- BraileBiomédica (Brazil),
- TTK Healthcare (India),
- Lepu Medical Technology Co.,
- Ltd. (China),
- Colibri Heart Valve,
- LLC (U.S.)
- Abbott (U.S.),
Global Prosthetic Heart Valve/ Artificial Heart Valve Market – Market Segmentation:
The global prosthetic heart valve/ artificial heart valve market is segmented on the basis of type.
- Transcatheter Heart Valve
- Tissue Heart Valve
- Mechanical Heart Valve
On the basis of type, global prosthetic heart valve/ artificial heart valve market is segmented into transcatheter heart valve, tissue heart valve, and mechanical heart valve. Transcatheter heart valves segment is expected to witness the highest market growth in the forecast period (2017-2024) due to use of less invasive techniques, more of technological advancement, increasing number of patients and rising prevalence of aortic stenosis.
- North America
- South America
- Middle East and Africa
On the basis of geography, global prosthetic heart valve/artificial heart valve market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
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