Press release
Prosthetic Heart Valve Market to Reflect Impressive Growth Rate | Industry Players Abbott Laboratories, Medtronic, Medical Technology, Boston Scientific
Prosthetic Heart Valve Market
Prosthetic heart valves are implanted in patients suffering from valvular heart disease, which results in failure of one or more valves present in the human heart. These patients are treated by replacing a natural heart valve with a prosthetic heart valve.
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The market is driven by rise in prevalence of cardiac disorders, such as rheumatic heart diseases, increase in geriatric population, and change in lifestyle of people, novel technological advancements in prosthetic heart valves, rise in patient awareness, demand for minimally invasive cardiovascular surgeries, and surge in transcatheter heart valve surgery centers.
However, this growth is limited by high cost, risk associated with prosthetic heart valves, and stringent approval process for prosthetic heart valves. Use of transcatheter heart valves for new indications and emerging markets in Asia-Pacific and LAMEA are expected to provide several opportunities for key players operating in prosthetic heart valve market.
The transcatheter heart valve segment is expected to maintain its dominant position throughout the analysis period, owing to rise in prevalence of aortic stenosis, increase in geriatric population, and new device approvals. In addition, transcatheter heart valve segment is expected to grow at the highest CAGR of 15.0%, owing to increase in adoption rate for transcatheter valve implantation procedures.
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Key Market Players:
• Abbott Laboratories
• Medtronic plc.
• Medical Technology Est.
• Boston Scientific Corporation
• Micro Interventional Devices Inc.
• Direct Flow medical Inc.
• Edwards Lifesciences Corporation
• LivaNova PLC.
• JenaValve Technology Inc.
• Cryolife Inc.
Key Findings of the Prosthetic Heart Valve Market
• Based on product type, the transcatheter heart valve segment accounted for more than three-fifths of the total market in 2016.
• Europe accounted for more than half of the transcatheter heart valve market (in terms of value) in 2016, with a CAGR of 13.8%.
• Europe accounted for both, major share (nearly two-fifths) in 2016 (in terms of volume) and highest CAGR of 11.1% (for volume market) from 2017 to 2023, in the global market.
• LAMEA is expected grow at a high CAGR of 11.7% from 2017 to 2023.
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