Prosthetic Heart Valve Market 2023- Abbott Laboratories, Medtronic plc., Medical Technology Est., Boston Scientific Corporation, Micro Interventional Devices, Inc., Direct Flow medical, Inc., Edwards Lifesciences Corporation

Global Prosthetic Heart Valve Market was valued at $3,874 million in 2016, and is expected to reach at $8,392 million by 2023, growing at a CAGR of 11.4%. Prosthetic heart valve is a device implanted in a patient suffering from valvular heart disease, which results in malfunction of one or more valves (out of a total four valves) present in the human heart. The treatment for such disease includes replacement of a natural heart valve with a prosthetic heart valve.

Rise in prevalence of cardiac disorders, such as rheumatic heart diseases, increase in geriatric population, change in lifestyle of people, novel technological advancements in prosthetic heart valves, increase in patient awareness, demand for minimally invasive cardiovascular surgeries, and rise in number of transcatheter heart valve surgery centers drive the market growth. However, high cost and risk associated with prosthetic heart valves and stringent approval process (as formulated by FDA and other regulatory bodies) for prosthetic heart valves restrain the market growth. The growth opportunities in emerging countries of Asia-Pacific and LAMEA and use of transcatheter heart valves for new indications (treatment of intermediate-risk patients and high risk patients) are expected to provide numerous opportunities for the market growth during the forecast period.

Key players in the value chain include Corvia Medical, Inc., CardioKinetix, Inc., Biomerics, LLC., Lepu Medical Technology (Beijing) Co., Ltd., XELTIS BV, Comed B.V., HLT, Inc., Meril Life Sciences Pvt. Ltd., SYMETIS SA, and Transcatheter Technologies GmbH.

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Segment Review

The transcatheter heart valve segment accounted for the highest market share in 2016, due to rise in prevalence of aortic stenosis and increase in geriatric population. In addition, rise in adoption rate for transcatheter heart valve implantation procedure and new device approvals are expected to lead the growth of transcatheter heart valve market. Moreover, use of transcatheter heart valves for new indications is a major opportunity for the market growth.

Snapshot of Lamea Prosthetic Heart Valve Market

Rise in incidence of structural heart diseases and rapid adoption of prosthetic valves drive the growth of the prosthetic valves market in LAMEA. There is an increase in prevalence of cardiac disorders, such as aortic stenosis in the Latin America due to lack of efficient treatment systems in these countries. In addition, the Latin American countries have reduced gross income leading to less expenditure on the development of new methods and devices, resulting in increase in need for efficient treatment systems. This increase in demand has attracted several key players from the West to invest in the Brazilian market for the growth of their transcatheter heart valve business. Israel offers an emerging market for transcatheter heart valve implantation procedure, owing to increase in geriatric population and rise in demand for unmet treatment procedures, which boost the market growth. Lack of facilities and an increased need for treatment devices have drawn the key players to invest in the Middle Eastern market.

Clinical trials

The prosthetic valves market has witnessed several clinical trials in the recent years. Transcatheter valves accounted for the highest number of clinical trials in the market, owing to their high durability and lower requirement for anticoagulation therapy. The European countries conduct maximum number of clinical trials as a result of high prevalence of heart diseases, such as aortic stenosis and mitral regurgitation. For instance, in Europe, more than 1.75 million people suffer from aortic stenosis. In addition, mechanical valves trials were highest in Europe (about 45.6%) followed by North America (38.1%).

Key Benefits

• The study provides an in-depth analysis of the market with current trends and future estimations to elucidate the imminent investment pockets.
• It offers a quantitative analysis and comprehensive analysis of all geographical regions from 2016 to 2023, to enable the stakeholders to capitalize on the prevailing market opportunities.
• Extensive analysis by product helps understand the various types of devices used for the treatment and monitoring of the cardiac patients.
• Key players are profiled and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the global market.

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