Prosthetic Valves Market by 2024

The global prosthetic valves market is expected to grow at a CAGR of 13.7% during the forecast period 2018–2024 to aggregate $7,090.0 million by 2024

Rise in the incidence of cardiovascular diseases, high prevalence of tobacco smoking and alcohol consumption, growing acceptance of minimally invasive endovascular surgeries, increasing adoption of advanced prosthetic heart valves, and rise in the geriatric population have increased the demand for prosthetic heart valves. Further, the emergence and high demand for low-profile, retrievable, and repositionable systems, especially in emerging countries, are expected to drive the market growth during the forecast period.

BANGALORE, India – February 28, 2018

Infoholic Research LLP, a global market research and consulting company, has published a study titled “Global Prosthetic Valves Market – Drivers, Restraints, Opportunities, Trends, and Forecasts: 2018–2024 (January 2018).

According to Infoholic Research, the global market is witnessing a drastic growth, primarily triggered by different applications of cardiovascular devices. Cardiovascular diseases are among the leading causes of death in both men and women, and it is most common in men. It is estimated that more than 785,000 Americans have a heart attack (coronary attack) every year. According to WHO, it was estimated that more than 17.7 million people died from CVDs in 2015, which represented 31% of the deaths globally. The high prevalence of tobacco smoking, growing acceptance of minimally invasive endovascular surgeries, and favorable reimbursement conditions are few of the factors driving the market. The market growth is also determined by environmental factors, the lifestyle of a person, and history of the disease in the family. However, stringent government regulations, the risk associated with the procedure, and lack of awareness are hampering the market growth. The global prosthetic valves market is expected to grow at a CAGR of 13.7% during the forecast period 2018–2024 to reach an aggregate of $7.09 billion by 2024.

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The market is segmented into transcatheter heart valve, mechanical heart valve, and bio-prosthetic heart valve. The transcatheter heart valve segment is the leading revenue generator and is expected to grow at a faster rate during the forecast period. Tissue or bio-prosthetic heart valve is expected to grow at a steady rate due to advancements in heart valve technology and its extended lifetime up to 15 years. The increase in disposable income and high prevalence of various cardiac disorders are fueling the prosthetic valves market growth. Further, the adoption of novel technologies and advanced cardiac diagnostic products will increase the awareness of various diagnoses and accelerate the growth of prosthetic valves during the forecast period.

The market is analyzed based on three segments, namely product types, end-users, and regions. The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). In North America, the US and Canada are set to be the leading countries due to the highest number of cardiovascular procedures performed in 2016. Europe is set to be the second leading region and held more than 28% of the market share in 2016. The UK is one of the countries in Europe with a high prevalence of CVDs. Annually, CVDs cause more than 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU), which accounts for about 45% of all deaths in Europe and 37% of all deaths in the EU. The advancements in technology and the anticipated launch of new products are expected to increase the sales in developed countries. In Asia Pacific, India and China are among the most attractive countries for the players with tremendous business opportunities. ROW is set to be an emerging market in the next 5–6 years.

Patients with valvular heart diseases have strange experience after the heart valve replacement procedure in choosing between a carbon-based mechanical valve and tissue/bio-prosthetic valve depending on the conditions and surgeon’s recommendation. The individuals are recommended to replace the heart valve if diseases progress to the point where treatment by drugs does not provide any relief from the symptoms. Few prosthetic valves fail within the range of 5–7 years. Non-surgical treatment by transcatheter heart valve is in high demand and is growing at a faster rate. Edwards SAPIEN 3 with Edwards COMMANDER has helped many patients to overcome severe aortic stenosis.” – Mohammed Azhar, Senior Research Analyst (Research – Healthcare) at Infoholic Research

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Further, the report aims to cover the below-mentioned points:

  • 1. Provides an in-depth analysis of the key business opportunities in countries and verticals.
  • 2. Provides complete details about various types of prosthetic valves.
  • 3. Provides complete details of trending prosthetic valves.
  • 4. Provides complete details about the analysis of top players.
  • 5. Provides industry outlook including current and future market trends, drivers, restraints, and emerging technologies.