Prosthetic Heart Valve Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024
Selection of a Heart Valve also depends on the Type of Polymer
On the basis of product type, the global prosthetic heart valve market can be segmented 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 a tissue valve is 10 to 15 years. Tissue heart valves is further classified into stented tissue valve, stentless tissue valve, tissue-engineered valves, homograft valves, and heterograft valves. Aortic valves and mechanical mitral valves are the two types of mechanical heart valves.
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Technologies for prosthetic heart valves include anti-calcification, 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 U.S. FDA approved a new technology called sutureless aortic valve replacement that is used for treatment of aortic valve disease. Sutureless valves are used to treat aortic valve disease and is a relatively 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 due to its various beneficial properties.
Developed Nations Current Hubs, while Low and Middle Income Countries to emerge as Major Markets
Increasing prevalence of heart diseases, technological advancements, government funding, robust healthcare infrastructure, and rise in healthcare expenditure in the U.S. are major factors projected to propel growth of the prosthetic heart valve industry in this region. According to Centers for Diseases Control and Prevention (CDC) about 610,000 people die due to heart diseases in U.S. every year. The growth of prosthetic heart valve market size in Asia is expected to be high in the near future due to increasing incidence of various chronic diseases and improving healthcare infrastructure in this region. According to a study published in the Lancet—a U.K.-based medical journal—the number of people affected by high blood pressure has almost doubled over past 40 years (from 1975 to 2015).
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Growing Aging Population highly susceptible to Heart Diseases to Spur growth of the prosthetic heart valve market
Advancements in technology, increasing aging population, and significant rise in prevalence of heart valve disorder are some factors that are expected to drive growth of the prosthetic heart valve industry in the near future. However, factors such as high costs of development, stringent government regulations, reimbursement issues, and lack of trained professionals are inhibiting growth of the prosthetic heart valve market to certain extent.
Global players involved in the prosthetic heart valve market
The market in prosthetic heart valve is characterized by the presence of major global players. Some of the prominent names include Boston Scientific Corporation, St. Jude Medical, Inc., Sorin S.P.A, Abbott Laboratories, Claret Medical, Inc., AorTech, Edwards Lifesciences Corporation, Neovasc Inc., and JenaValve Technology.
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Better Patient Outcomes utilizing Prosthetic Heart Valves to Ensure Sustained Demand
Developed regions such as North America and Europe are rapidly growing regions in the prosthetic heart valve market, mainly attributed to robust healthcare infrastructure, increasing prevalence of valvular heart disease, and favorable reimbursement scenario. The experience of using an aortic bioprosthetic valve treated with anticalcification tissue technology demonstrates excellent valve performance, safety, and durability. Minimally invasive devices for treatment of heart surgery are the need of the hour to ensure better patient experience. The sutureless valve technology is less invasive for patients, which is expected to witness higher adoption in the near future. Transcatheter has given improved patient survival rate when compared with medical therapy.
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