Prosthetic Heart Valve Market size is forecast to reach $7.61 billion by 2025, growing at a CAGR of 9.4% during the forecast period 2020-2025. A prosthetic heart valve is a one-way valve implanted into the heart of a patient to replace a dysfunctional native heart valve. In practice, ideal valve substitute does not exist, and each of the currently available prosthetic valves has inherent limitations. Three basic types of mechanical heart valve design exist, they are bileaflet, monoleaflet, and caged ball valves. The left-sided valves, the aortic valve and the mitral valve have a higher predisposition to disease compared to their right-sided counterparts. Growing geriatric population, increasing prevalence of heart valve disease (HVD), regulatory approvals for advanced new procedures, increasing government funding for advanced researches and favorable reimbursement policies for prosthetic heart valve are driving the market growth in recent years. In addition, major market development of key players like Abott Laboratories, Medtronic PLC and Boston Corporation are additional factors driving the growth of the market.
Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=16826
Report Price: $ 4500 (Single User License)
Valve Type – Segment Analysis
Transcatheter Heart Valves held the largest share in the valve type segment of Prosthetic Heart Valve Market in 2019, and are estimated to grow at a CAGR of 10.5% during the forecast period 2020-2025. Easier implantation involving a minimally invasive procedure rather than an open-heart surgery, increasing prevalence of aortic stenosis, and growing demand from heart patients are attributed to the market growth of this segment. Mechanical Heart Valves held the second largest share in the market in 2019, owing to awareness about benefits of the valves like no need for lifelong anticoagulation, flexibility and strength. However, Transcatheter Heart Valves is set to be the fastest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025, owing to increasing investments in its technology by key markets, and increasing applications in new areas of heart valve disorders in the upcoming years.
End User – Segment Analysis
Hospitals held the major share in the end user segment of Prosthetic Heart Valve Market in 2019. The chance of death of patients who received surgery in a hospital that performed many surgeries annually is noticeably lower than patients receiving operations from other healthcare centers, indicating that the chance of death decreases as the annual volume of heart surgeries in the hospital increases. In addition, there is a greater flexibility and dependence of heart surgeries in hospitals, regarding services and costs. This has led to considerable increase in market growth of the segment in recent years. Ambulatory Service Centers are forecast to grow at the fastest rate with the highest CAGR during the forecast period 2020-2025, owing to increasing demand from patients for economic and low price operations. A procedure performed at a surgery center not only gets patients back to their homes quicker, it’s significantly less expensive.
Geography – Segment Analysis
North America dominates the geography segment of Prosthetic Heart Valve Market with a share of more than 37.1% in 2019. Growing number of technological advancements, increasing heart valve disorders among the growing geriatric population, improved healthcare infrastructure, and rise in healthcare expenditure in the last decade are helping in significant market growth in the region. Europe held the second place in the geography segment share of the market.
However, Asia-Pacific is estimated to grow at the fastest rate at a higher CAGR during the forecast period 2020-2025. This is owing gradual growth of healthcare industry, increasing government funding for helping the lower economic population in healthcare and entry of new market players in recent years.
Talk to one of our sales representative about the full report by providing your details in the link below:
Drivers – Prosthetic Heart Valve Market
According to research studies, the prevalence of HVD increased with age. Multivalvular moderate-severe dysfunction was present in two valves in 33% and in three valves in 5.7% of patients. Significant mitral valve disease was present in 39% and aortic valve disease in 48% of patients. The etiology of the valvular lesions was degenerative in 60%, functional in 15.5%, rheumatic in almost 10%, congenital in 6%, owing to endocarditis in only 3%. Patients with HVD represented up to 24.2% of the in-hospital admissions. This is set to drive the market growth in the forecast years 2020-2025.
In view of the growing heart valve disorders, there are various reimbursement policies made in recent years. New investments are made for the proper economic services flow by key market players. This is set to help in market growth during the forecast period 2020-2025.
Challenges – Prosthetic Heart Valve Market
The average cost of the Heart Valve Repair Surgery is very high in western countries. The annual healthcare costs are substantially higher for surgical heart valve replacement patients than for controls, especially in the year of heart valve implantation. This is poised to gradually strain the quality management for Prosthetic Heart Valve in this market. Thus, it is anticipated to hamper the market growth during the forecast period 2020-2025.
Prosthetic Heart Valve Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Prosthetic Heart Valve Market. In 2019, Prosthetic Heart Valve Market share is consolidated by the top players present in the market. Prosthetic Heart Valve Market top 10 companies are Edwards Lifesciences Corporation, St. Jude Medical, Inc., Medtronic PLC, Boston Scientific Corporation, Abbott Laboratories, SYMETIS, LivaNova PLC, CryoLife, Inc., Braile Biomedica, and Colibri Heart Valve, LLC among others.
Pressure Safety and Release Valves Market
Cardiology Surgical & Interventional Cardiology market
About IndustryARC : IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.