The attendance of a huge number of companies in the prosthetic heart valve market creates strong rivalry The firms adopt plans such as expansion and product innovation. Some of the major companies in the global prosthetic heart valve market are Colibri Heart Valve, LLC, Edwards Lifesciences LLC, Direct Flow Medical, Inc., Perouse Medical, Heart Leaflet Technologies (HLT), Sorin Group, Cytograft Tissue Engineering, Inc. (CTE), and St. Jude Medical Inc.
As per analysts Zion Market Research, global prosthetic heart valve market was capitalized at USD 3,138.4 Million in 2015. The prosthetic heart valve market is anticipated to breach the market of USD 5,302.1 Million by 2021 and is expected to develop at a CAGR of 9.10% from 2016 to 2021.
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Nonetheless, increasing requirement for minimal invasion surgeries for heart valve replacement in addition to the untapped opportunities in the up-and-coming nations is expected to unlock new areas for the global prosthetic heart valve market in the years to come. Further, the increasing R&D by various organizations also boosts the prosthetic heart valve market. For example, in August 2018, mono antiplatelet drug treatment post heart valve replacement surgery showed promising outcomes. One antiplatelet drug treatment after heart valve surgery was established to work better instead of 2 antiplatelet drug therapies. The research was conducted by researchers at Loyola Medicine.
Increasing Requirement For Tissue Heart Valve Replacement Bolsters The Growth Of Prosthetic Heart Valve Market In North America
The prosthetic heart valve market was ruled by North America in 2015. This development was majorly attributed by the shift in preference for the minimal invasive surgeries and increasing prevalence of heart valve diseases. In addition, increasing requirement in the U.S for tissue heart valve replacement triggers the development of prosthetic heart valve market in North America. Asia Pacific is believed to be the quickest developing area for global prosthetic heart valve market and is likely to sustain its position in the years to come.
The global prosthetic heart valve market is segmented as follows:
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