The heart valve devices market report studies the global market for these medical devices based on revenue, forecasts, volume growth, and geographical markets. This report marks out factors that will propel growth in the global heart valve devices market, as well as barriers that will likely restrain growth. The study segments the overall heart valve devices market based on product type, technology, and scope of the market globally and by region. It also discusses the anticipated launch of new products and if/how they will have an impact on the current market dynamics of heart valve devices. The market research report also analyzes the potential offered by repair and replacement procedures, and compares the projected growth of these two markets.
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This study assesses the competitive landscape and offers recommendations for sustainable growth strategies in this fast-evolving market. The estimates and projections of this market research report will prove useful to both established market participants and new entrants.
Overview of the heart valve devices market
Heart valves are critical in ensuring that blood flow occurs in the right direction. The valves of our heart relax and stretch with every single heartbeat, which also means that they work through our lifetime to maintain a continuous flow of blood. However, the functioning of heart valves can be interrupted because of certain birth defects that can aggravate over time, aging, and diseases. This malfunction can be treated using an artificial heart valve. The heart valve devices market comprises of products that are used for replacing (or repairing) the defective or worn out heart valve through surgical procedures.
Within the heart valve devices market, the largest demographic group is that of the elderly (60 years and above). This age group is the most susceptible to cardiac problems, including valve malfunctioning.
The report segments the heart valve devices market by type as: mechanical, biological, and tissue. The market for heart valve devices is projected to witness a strong growth rate following the introduction of transcatheter aortic valve replacement (TAVR) devices. Developments in minimally invasive devices and advances in related technologies have played a significant role in impelling the global heart valve devices market. And, a growing number of surgeries have further led to higher revenue in this market.
Transcatheter aortic valve implant (TAVI)—a type of heart valve device—show healthy growth rates across all segments. With the advent of transcatheter valves, it has become possible to conduct valve-replacement and repair procedures on patients who were earlier at a high risk of complications associated with heart surgery. What also drove the market considerably was the approval of SAPIEN by the FDA in 2011. This heart valve device, developed by Edwards Life Science, has brought unprecedented ease to valve replacement and repair procedures.
The report estimates that the global heart valve devices market will demonstrate a CAGR of 7% from 2009 through 2016. As of 2011, the global market for heart valve devices was valued at USD 1.26 billion. This market is anticipated to show consistent growth on account of the improved longevity of new-age tissue heart valves. This, in turn, will lead to higher adoption rates among younger patients. The market is projected to touch USD 1.7 billion by 2015.
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Companies mentioned in the global heart valve devices market
Key participants in the heart valve devices market include: St Jude Medical, Edwards Life Sciences, and Medtronic. Together, these players hold sway over nearly 70% of the total heart valve devices market.
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