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(April 13, 2018)
The Global Prosthetic Heart Valves Market, by Product Type (Transcatheter Heart Valves, Mechanical Heart Valves and Tissue Heart Valves), and By End User (Hospitals and Ambulatory Surgical Centers) was valued at US$ 3,622.72 million in 2017 and is projected to exhibit a CAGR of 11.2% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights.
The prosthetic heart valve offers excellent valve function and works in coordination with the entire circulatory system to protect each part from damage. There are many kinds of technologies for prosthetic heart valves, which includes anti-calcification, sutureless valves, polymers, and carbon-based technologies. An anticalcification technology is more common technology that may irreversibly choke calcium binding sites in bioprosthetic valves and protect the bioprosthetic valves from deterioration. In February 2016, the U.S. FDA approved a new technology called sutureless aortic valve replacement that is used for treatment of aortic valve disease.
Browse 29 Market Data Tables and 33 Figures spread through 190 Pages and in-depth TOC on "Prosthetic Heart Valves Market, By Product Type (Transcatheter Heart Valves, Mechanical Heart Valves and Tissue Heart Valves), and By End User (Hospitals and Ambulatory Surgical Centers) - Global Forecast to 2025"
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Many adults worldwide battle against conditions such as valvular heart disease and aortic stenosis, the narrowing of the aortic valve. In fact, aortic stenosis is the world’s most common non-congenital valve disease. According to NCBI, 2014, Rheumatic heart disease continues to affect millions of children and young adults in the Indian subcontinent with prevalence rates as high as 51 per 1000 population. So continuous advancements in surgical replacement technologies for patients with damaged, diseased or malfunctioning heart valves by manufacturers, is likely to fuel the demand of these devices substantially over the next few years. For instance, in 2016, St. Jude Medical Inc. launched the advanced tissue valve—the Trifecta valve with Glide Technology (GT)—for the treatment of patients with unhealthy, damaged or malfunctioning aortic heart valves in U.S. This Trifecta GT tissue valve offers patients enhanced valve delivery to ease implantation in challenging anatomies and during minimally invasive surgical approaches.
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Competition in the prosthetic heart valves market is intense and in order to maintain their competitiveness, companies are adopting strategies such as inorganic growth, merger and acquisition and product innovation. Product innovation continues to drive pricing, which acts as a huge barrier for new entrants in the market. Market players are also investing in expanding their product portfolios, resulting in their growing pipelines in the prosthetic heart valves market. For instance, in March 2017, Boston Scientific Corporation acquired Symetis SA, a privately-held Swiss structural heart company focused on minimally-invasive transcatheter aortic valve implantation (TAVI) devices. The Symetis portfolio includes the Acurate TA and Acurate neo/TF valve systems for use in the treatment of high-risk patients suffering from severe and symptomatic aortic valve stenosis, which are sold in Europe and in other geographies outside of the United States. Symetis is also developing the ACURATE neo/AS next generation valve system, currently in a clinical trial intended to serve as the basis for a future CE mark application.
Key Takeaways of the Global Prosthetic Heart Valves Market:
- The global prosthetic heart valves market is expected to exhibit a CAGR of 11.2% over the forecast period (2017–2025). This is attributed to rapid growth in the aging population and prevalence of valvular heart diseases
- Among product type, transcatheter heart valves segment is expected to account for the largest share in the global prosthetic heart valves market over the forecast period. This is attributed to rising demand of less invasive procedure for high risk patients.
- Among End User, Hospital segment propel the growth owing to frequent diagnostic check-ups, pre and post-surgery, which is convenient in hospitals and thus boosting the growth
- Some of the major players in the global prosthetic heart valves market are Boston Scientific Corporation, Edwards Lifesciences Corporation, Medtronic plc, LivaNova PLC, Abbott, Jenavalve Technology, Inc., Lepu Medical Technology Co., Ltd., CryoLife, Inc., and Neovasc Inc.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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