Annuloplasty Rings Market | Growth Prospects, Trends And Forecast until 2025
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The rise in elderly population across the world and sharp increase in the incidence of cardiovascular diseases are fueling the global Annuloplasty Rings Market. According to the WHO, cardiovascular diseases is the leading cause of death worldwide, which claims around 17.7 million lives every year. Rapid technological advancements and high adoption of and awareness about heart valve procedures among patients are anticipated to boost the growth of the global annuloplasty rings market during the forecast period. The demand for minimally invasive procedures has been increasing. There are options of custom made annuloplasty rings available combined with maximum safety, creating immense growth opportunities for the global annuloplasty rings market. While rings and bands currently available are very resistant and they can treat an extensive array of valvular disorders, there is a scope to enhance applicability, durability, and biocompatibility and to reduce cost. High cost of the procedure and the stringent process for approval of devices are factors expected to hamper the global market for annuloplasty rings from 2017 to 2025.
The global annuloplasty rings market can be segmented based on type, application, end-user, and region. In terms of type, the market can be segmented into flexible annuloplasty rings, rigid annuloplasty rings, and semi-rigid annuloplasty rings. In terms of application, the annuloplasty rings market can be segmented into mitral valve annuloplasty, tricuspid valve annuloplasty, and aortic valve annuloplasty. Mitral valve annuloplasty is a fairly common technique, used worldwide to repair faulty mitral valves and to enhance their durability. Tricuspid valve annuloplasty is primarily used in combination with other valve surgeries and its use has been steadily increasing over the last few years. Aortic valve annuloplasty has also gained acceptance from being an occasional procedure to becoming a consistent treatment recourse. Aortic valve annuloplasty has gained acceptance from being an uncommon procedure to now a regularly used treatment recourse. Based on end-user, the annuloplasty rings market can be segmented into hospitals, ambulatory surgery centers, and specialty clinics.
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In terms of region, the global annuloplasty rings market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global market owing to growing incidence of valve regurgitation and stenosis among people in the region, resulting in increased investment in research and development activities. North America is closely followed by Europe, owing to rise in the prevalence of various valvular disorders in the region.
Key players operating in the global annuloplasty rings market are Medtronic, Edwards Lifesciences Corporation, Abbott, LivaNova PLC, Braile Biomédica, and Labcor Laboratórios Ltda.
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