Prosthetic heart valve market, Size, Share, Market Intelligence, Company Profiles, Market Trends, Strategy, Analysis, Forecast 2017-2022
Heart Valve Market Insights:
Heart valve market is expected to grow significantly at a CAGR of 11.8% during 2017-2022. It is an implanted device which is increasingly adopted by patients suffering from valvular heart disease. Prosthetic heart valve is gaining momentum due to rising geriatric population, growing heart diseases a. Through a cardiac surgery, a prosthetic heart valve enables to replace the abnormal heart valve market. Mechanical and bio-prostheses have been the traditional methods of heart valve replacements. However, the replacement therapies are imperfect and subject patients to one or more ongoing risks.
Additionally, technical advancement and FDA clearance to critical heart valve market devices are driving the prosthetic heart valves market. Technological advancement enables to improve the existing technology. The rising incidence and prevalence rate of valvular heart disease and growing geriatric population across the globe will further boost the demand for innovative heart valve devices and applications. Technological progressions in the field of interventional cardiology that include transcatheter aortic valve replacement (TAVR) and the aspiration to omit the need for open surgical procedures for valve replacements will also boost the market. Improvement in the healthcare expenditure will support the prosthetic heart valve implantation. Also increasing awareness and rising adoption of diagnostics and treatments for heart valve disorders will boost the market.
Heart valve market can be segmented majorly on the basis of products and end user. On the basis of product, the industry is segmented into mechanical heart valves, biological/tissue heart valves and transcatheter heart valves. And on the basis of end users the market is segmented into hospitals and ambulatory surgery centers. The market for heart valve devices is expected to see a strong growth rate following the introduction of transcatheter aortic valve replacement (TAVR) devices. Developments in minimally invasive devices and advances in related technologies have played a significant role in impelling the global heart valve devices market. And, a growing number of surgeries have further led to higher revenue in this market.
North America and Western Europe have the largest market share in terms of production and revenue. Increased THV processes coupled with rising adoption of technologically advanced products will drive the North American Market of heart valves. Adoption of innovative devices and treatment enabled to reduce time of surgical procedure global prosthetic heart valve market in North America. The Western Europe prosthetic heart valve market is expected to account for the second largest market value share owing to product maturity and increased awareness levels within the region. APAC is predicted to show significant growth due to rising geriatric population and increasing incidence and prevalence rate of heart diseases.
The key players in the global prosthetic heart valve market include Edwards Lifesciences, Medtronic, X life technologies, Inc., Abbott Laboratories, St. Jude medical and so forth. The key companies of this market are focusing on delivering differentiated treatments to cardiac patients and are fueling their foothold in the global prosthetic heart valve market through strategic collaborations, R&D, merger and acquisitions and so forth.
Prosthetic heart valve market is segmented on the basis of product and user. The major segment in heart valve market by product and user includes: mechanical heart valves, biological/tissue heart valves and transcatheter heart valves Hospitals and Ambulatory Surgery Centers. Developments in marginally invasive devices and advances in related technologies have played an important role in driving the global heart valve devices market. And a growing number of surgeries have further led to higher revenue in this market.
- Prosthetic heart valve market Research and Analysis, By Product
- Prosthetic heart valve market Research and Analysis, By User
OMR Report covers:
- Comprehensive research methodology of Prosthetic heart valve market.
- This report also includes detailed and extensive market overview with key analyst insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Prosthetic heart valve market.
- Insights about market determinants which are stimulating the Prosthetic heart valve market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.