Prosthetic Heart Valve Market to 2026 Favorable Marketing & Correct Positioning of Present Opportunities
Heart valves play an important role in controlling the blood flow to and from the heart. The heart consists of four main types of valves that are tricuspid, pulmonary, mitral, and aortic valves. Prosthetic heart valves are commonly known as artificial valves that implanted in the heart of the patients suffering from the valvular heart disease. Thus, the surging incidence of heart disorders drives the prosthetic heart valve market over the forecast period. There are 3 types of prosthetic heart valve such as mechanical heart valve, tissue heart valve, and transcatheter heart valve.
Get Sample Copy of Professional Insights: https://www.coherentmarketinsights.com/insight/request-sample/69
The aging population and increasing patient population of heart disease are expected to drive demand for prosthetic heart valve-based treatment in the future. For instance, According to the statistics of World Health Organization in 2012, 17.6 million people died of cardiovascular disease (CVD) worldwide, and proportionally, this accounts for 31.43% of global mortality. Moreover, The emergence of valve-in-valve procedures serves as a significant market opportunity for the prosthetic heart valve. Physicians are opting to use bioprosthetic valves because they are confident that in the case of tissue valve degeneration, they will be able to re-intervene and percutaneously implant a transcatheter valve. Given the high treatment costs associated with Transcatheter Aortic Heart Valve (TAVR), strict regulations by the government may restraint the market growth during the forecast period. However, if the cost of this technology can be reduced, as is expected with the approval of next-generation devices by manufacturers, the prosthetic heart valve will be the most lucrative market for medical device companies. For instance, in February, 2018, Medtronic Plc’s product- Mosaic bioprosthetic heart valve demonstrated positive performance and Long-Term Durability Up to 12 Years in International Study. This clinical study supports the long-term, robust performance of the Mosaic valve, and reinforces the trend in the decreasing average age of recipients.
Growing Aging Population and prevalence of valvular disease spur growth of the prosthetic heart valve market
Increasing geriatric population and prevalence of valvular heart disease will boost the demand of prosthetic heart valves market. According to the National Centre for Health Statistics, 2011, Heart disease is the leading cause of death in the U.S., killing more than 600,000 Americans each year. Continue focusing to advance surgical replacement technologies for patients with diseased, damaged or malfunctioning heart valves by manufacturers is expected to create a lucrative opportunities for the market over the forecast period. For instance, in 2017, Edwards Lifesciences Corporation received U.S. FDA approval for aortic and mitral valve-in-valve procedures using the Edwards SAPIEN 3 transcatheter heart valve. The SAPIEN 3 valve is the first transcatheter heart valve approved in the U.S. for the treatment of both aortic and mitral patients who are at high risk for a subsequent open-heart surgery to replace their bioprosthetic valve. On the contrary, the high costs associated with the devices mainly transcatheter aortic valve replacement devices and stringent government regulations may hamper the growth of the market.
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, 2016—the number of people affected by high blood pressure has almost doubled over past 40 years (from 1975 to 2015) worldwide. However, the largest rise in the prevalence of adults with high blood pressure has been in low- and middle-income countries (LMICs) in south Asia (eg, Bangladesh and Nepal) and sub-Saharan Africa (eg, Ethiopia and Malawi). Moreover, in according to EurekAlert global news, In 2015, over half (590 million) of adults with high blood pressure lived in east, southeast and south Asia–of whom 199 million lived in India and 226 million in China.
Manufacturers are focusing on developing and manufacturing new technological advanced prosthetic heart valve devices to treat heart valve and vascular disease through strategic partnership. For instance, in January, 2016, CryoLife, Inc. completed the acquisition of On-X Life Technologies Holdings, Inc, an Austin, Texas-based, privately held mechanical heart valve company, for On–X mechanical heart valves that are made with the most advanced material – pure pyrolytic carbon. This advanced design and materials creates a lucrative opportunity for the adoption of prosthetic heart valve devices in the hospitals more, which make the surgery smooth with excellent valve performance, safety, and durability.
The key players operating in the global prosthetic heart valves market include Boston Scientific Corporation, Edwards Lifesciences Corporation, Medtronic plc, LivaNova PLC, Abbott, Jenavalve Technology, Inc., Lepu Medical Technology Co., Ltd., CryoLife, Inc., and Neovasc Inc.
Download the PDF brochure: https://www.coherentmarketinsights.com/insight/request-pdf/69
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar