Prosthetic Heart Valve Market Growth Is Attributed To The Increasing Demand For Mechanical Heart Valves

According to Precision Business Insights (PBI) latest report, the prosthetic heart valve market is expected to be worth USD 7,626.2 million in 2022, growing at an 11.9% CAGR from 2022 to 2028. The prosthetic heart valve market is expanding due to the increased prevalence of cardiac illnesses. The demand for heart valve replacement is rising due to the incidence of cardiac diseases, especially among the elderly. The continuously growing older population dramatically influences the market. The global prosthetic heart valve demand is mainly rising due to cardiovascular illnesses like rheumatic heart disease and aortic stenosis.

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Mechanical Heart Valves Segment to Dominate the Prosthetic Heart Valve Market:
The mechanical heart valve segment is expected to account for a larger revenue share in the global Prosthetic heart valve market, with a value share worldwide. It is projected to grow at an x% CAGR between 2022 and 2028.

Asia Pacific Prosthetic Heart Valve Market:
The Asia Pacific market is expected to increase in the global Prosthetic heart valve market over the forecast period. It is projected to grow at a CAGR of x% in the coming years due to the evolving regulatory environment and essential firms operating in this region's emerging economies. As healthcare infrastructure continues to expand in nations like Malaysia, India, Singapore, and others, together with the relatively low cost of cardiovascular surgeries, the target market is anticipated to rise in this region over the projected period.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Prosthetic heart valve market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The prosthetic heart valve market is segmented based on type and geography.
Based on the material, the market is segmented into the following:
• Biological heart valves
• Mechanical heart valves
• Transcatheter heart valves

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the prosthetic heart valve market report are Edwards Lifesciences, Medtronic, Abbott, Boston Scientific Corporation, LivaNova, Symetis, Jenavalve Technology, Cryolife, TTK Healthcare Limited, Colibri Heart Valve, Lepu Medical Technology, Braile Biomédica, and Micro Interventional.

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