Heart Valve Replacement Devices Dominate 80% of Global Market Share | Arizton

Global heart valve repair and replacement devices market analysis report by Arizton States that the global heart valve repair and replacement devices market is expected to generate revenues of more than $12 billion by 2023, growing at an impressive CAGR of around 17% during 2017-2023.

Analyst at Arizton also add that replacement devices segment dominated more the 3/4th of market share in 2017, growing at a CAGR of approximately 18% during the forecast period. The growing demand for transcatheter replacement procedures especially TAVR and the availability of next-generation prosthetic tissue heart valves are two of the major factors augmenting the growth of this segment in the global market.

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The increase in aging population and presence of a large pool of patient population with heart valve diseases and the development and commercialization of novel replacement devices are some of the factors attributing to the growth of the global heart valve replacement devices market. The growing popularity of transcatheter and tissue heart valve devices and the increasing awareness regarding the availability of new treatment options will augment the development of the global market. The increasing availability of replacement procedures such as TAVR and next-generation prosthetic tissue heart valves will help vendors gain a larger market share over the next few years. Replacement devices are the best course of treatment option for patients suffering from aortic stenosis, mitral stenosis, and pulmonary valve stenosis. Various leading vendors are investing in R&D to launch new and innovative products that are safer and more efficient devices to attract new consumers into the global market.

The global heart valve replacement devices market is expected to reach values of more than $10 billion by 2023, growing at a CAGR of approximately 18% during 2017-2023.

The three different types of heart valve replacement devices available in the market are discussed below:

· Transcatheter Heart Valves

Transcatheter heart valves devices market is the fastest growing segment and is expected to dominate the entire global market during the forecast period. The superior safety and efficiency of these procedures are augmenting the increasing adoption of transcatheter devices in the global market. Developed countries such as the US, Germany, Japan, France, the UK, Italy, and Spain are the largest end-users of these devices in the global heart valve replacement devices market. TAVR is one of a most used transcatheter-based process for treating aortic stenosis patients who are at high-risk for surgical valve replacement procedures. Various medical companies are focusing on aggressive development plans and R&D activities to launch new devices in the global heart valve replacement devices market. For instance, JenaValve Technology is one of the emerging companies making waves in the TAVR space. The transcatheter heart valves devices market is projected to grow at a CAGR of more than 20% during 2017-2023.

· Tissue Heart Valves Market

The increased durability of tissue heart valves and its suitability for implantation in younger heart valve disease patients is one of the primary factors attributing to the growth of this segment in the global heart valve replacement devices market. The rapid shift and increasing preferences for prosthetic tissue valves are expected to revolutionize the market over the next few years. The top companies are focusing on improvements and advanced replacement technologies to gain a larger group of consumers in the market. The introduction of mitral tissue valve replacement procedures is boosting the adoption of tissue devices in the heart valve replacement devices market. The tissue heart valves market is further segmented into stented and stentless valves in the global heart valve replacement devices market. Edwards Lifesciences, Medtronic, and Abbott are the key players operating in the tissue devices sector in the market. The vendors are focusing on offering a diverse range of products to gain a larger global market share during the forecast period. The tissue heart valve devices market is estimated to grow at a CAGR of around 12% during the forecast period.

· Mechanical Heart Valves Market

The steady demand for mechanical heart valve devices across developing and emerging countries is propelling the growth of this segment in the global market. Mechanical heart valve devices are relatively less expensive and offer longer life expectancy. The healthcare professionals prefer mechanical heart valves for younger patients with severe heart conditions. These mechanical replacement devices do not require re-operation and have very less probability of requiring further operations on the valve ensuring that it has higher longevity compared to any other devices available in the global heart valve replacement devices market. The prominent players in the market are focusing on developing advanced mechanical heart valves to sustain the competition level in the market. For instance, CryoLife’s On-X aortic prosthetic heart valve is the only mechanical heart valve with the US FDA and CE Mark approval and is clinically proven to be safer with less warfarin usage. The development of these devices will augment the transformation of the global heart valve replacement devices market. The mechanical heart valves market is anticipated to grow at a CAGR of approximately 4% over the next few years.

The leading vendors operating in the global heart valve replacement devices market are

Edwards Lifesciences
Abbott
LivaNova
Medtronic
Boston Scientific

For other prominent vendors, top trends, drivers, restraints, market share, order a report: https://www.arizton.com/market-reports/heart-valve-repair-and-replacement-devices-market

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