Prosthetic Heart Valve Market – Global Industry Analysis 2024

Prosthetic (artificial) heart valve refers to a device implanted in the heart of a patient with valvular heart disease. Through a cardiac surgery, a prosthetic heart valve replaces the abnormal heart valve. Replacement of a diseased valve with a prosthetic heart valve results in reduction in the morbidity and mortality associated with the cardiac valve disorder. When the treatment of heart valve disease reaches to a stage that it does not provide relief to patient then surgery is the best alternative to repair or replace the valve. If surgery is not a repair then there is a choice between carbon based mechanical valves and biological tissue valve. The patient will choose the type of the valve depending on the condition. Advancement in technology and increasing prevalence of heart valve diseases are some major factors that will drive the prosthetic heart valve market.

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Selection of a Heart Valve also depends on the Type of Polymer

Based on the product type, the global prosthetic heart valve market can be differentiated into mechanical heart valves, transcatheter heart valves and tissue heart valves. Tissue heart valves are harvested from pig heart valves and cow heart sac. The life of tissue valve is 10 to 15 years. Tissue heart valves is further classified into stented tissue valve, stent less tissue valve, tissue engineered valves, homograft and heterograft valves. Aortic valves and mechanical mitral valves are included in mechanical heart valves.

Technologies for prosthetic heart valves include anti-calcification technology, sutureless valves, polymers and carbon based technologies. The primary cause of failure of bioprosthetic valves is structural valve deterioration due to tissue calcification. An anticalcification technology was developed that may irreversibly choke calcium binding sites in bioprosthetic valves. In February 2016, the FDA approved a new technology called sutureless aortic valve replacement which is used to treat aortic valve disease. Sutureless valve treat aortic valve disease and is less invasive for patients. The use of polymers to produce leaflet valves which have same benefit of bioprosthetic and mechanical valves has been available since mid-1950s. Much attention has been focused on thermoplastic polyurethanes because of good properties.

Demand to increase in Low and Middle Income Countries

Increase in prevalence of heart diseases, technological advancement, government funding, improved healthcare infrastructure and rise in healthcare expenditure in the U.S. will propel the market growth of prosthetic heart valves in this region. In the U.S heart diseases is the leading cause of death. According to a researcher at Duke University in Durham, North California heart diseases are less prevalent than it once was. Rate of heart diseases is dropped by 20% from 1983 to 2011. Europe is also facing the same issue and therefore market of prosthetic heart valve will be demanding in the treatment of heart diseases because of high potential. The growth rate of prosthetic heart market in Asia is expected to be high in next few years due to increasing incidence of various chronic diseases and improving healthcare infrastructure in this region. According to CNN in 2015 there were 1.13 billion people living with high blood pressure worldwide and majority is in low and middle income countries. According to a new study published in the Lancet, the number of people affected by high blood pressure has almost doubled over past 40 years.

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Aging Population to be the major Demand Drivers

Advancement in technologies, increasing ageing population and significant rise in prevalence of heart valve disorder are some factors that are expected to drive the market of prosthetic heart valve. However, factors such as high cost of development, stringent government regulations, reimbursement issues and lack of skilled professionals are deterring the market growth.

There are many global players operating in the prosthetic heart valve market. Some of them include Boston Scientific Corporation (U.S.), St. Jude Medical, Inc. (U.S.), Sorin S.P.A (Italy), Abbott Laboratories (U.S.), Claret Medical, Inc. (U.S.), AorTech (U.K.), Edwards Lifesciences Corporation (U.S.), Neovasc Inc. (Canada), and JenaValve Technology (Germany).

Development of cost-effective Technology is essential to Increase the Demand

Prosthetic heart valve market is growing very rapidly in developed region because of improvement in healthcare facility, improvement in healthcare infrastructure, increase in prevalence of valvular heart disease and availability of reimbursement. The experience of using an aortic bioprosthetic valve treated with anticalcification tissue technology demonstrated excellent valve performance, safety and durability. There is a need for minimally invasive devices for the treatment of heart surgery. The sutureless valve technology is less invasive for patients which will hopefully make the treatment available to a wider patient population. Transcatheter has given improved patient survival rate when compared with medical therapy. Market players should therefore develop more advanced technologies that is cost-effective and will improve patient’s life.

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