Heart Valve Repair and Replacement Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025- Growing medical tourism in emerging economies and technological advances in heart valve repair and replacement devices are anticipated to boost the growth of the market during the forecast period.
Global Heart Valve Repair and Replacement Market is valued at USD 5980.5 Million in 2018 and expected to reach USD 10769.3 Million by 2025 with the CAGR of 10.30% over the forecast period.
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Scope of Global Heart Valve Repair and Replacement Market Report–
Heart valve repair and replacement includes the repair or replacement of the damaged heart valve due to the occurrence of heart valvular disease. A prosthetic heart valve is a device that mimics the function of human heart valves and has a passive mode of functioning. The closing and opening of heart valves are responses to pressure and flow changes within the heart. Conventionally, open-heart surgery is used to repair or replace heart valves. This means that a large opening is made in the chest and the heart gets immobile for a time so that the surgeon can repair or replace the valve. Newer, less invasive techniques have been developed to replace or repair heart valves. Minimally invasive procedures make smaller openings, and mean less pain afterward and shorter hospital stays. Irregularities and symptoms related to heart valves depends on the degree of severity and affected valve. Heart valve related disorders are mainly mechanical that require proper application of heart valve repair and replacement treatment. The heart valve replacement also cures impaired leaflet tissues, and eliminates unnecessary tissues to resize the heart valve.
Global heart valve repair and replacement market report is segmented on the basis of type of procedure, type of replacement, disease indication, end-users and regional & country level. Based on type of procedure, global heart valve repair and replacement market is classified as heart valve repair and heart valve replacement. Based upon type of replacement, global heart valve repair and replacement market is classified into mechanical heart valve, tissue heart valve and transcatheter heart valve. Based upon disease indication, global heart valve repair and replacement market is classified into aortic stenosis, aortic regurgitation, mitral stenosis, mitral regurgitation. Based on end-users, market is classified into hospital, ambulatory surgical center and cardiac catheterization laboratories
The regions covered in this Heart Valve Repair and Replacement market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Heart Valve Repair and Replacement is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Heart Valve Repair and Replacement Market Report-
Global Heart Valve Repair and Replaceme nt market report covers prominent players like Edwards Life sciences, Medtronic, St. Jude Medical, and Sorin Group, Abbott Laboratories, Accellent Inc., Admedes Schuessler GmbH, AorTech International, Arbor Surgical Technologies, Inc., AutoTissue GmbH, Boston Scientific, CryoLife, Inc., Colibri Heart Valve, LLC, Micro Interventional Devices, Inc., Neovasc, Inc., JenaValve Technology, Leman Cardiovascular Sa, MiCardia Corporation, On-X Life Technologies, Inc. and among others.
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Medtronic Acquired Twelve, Inc., Developer of Transcatheter Mitral Valve Replacement Device.
On August 25th, 2015; Medtronic plc announced that it has signed a definitive agreement to acquire Twelve, Inc. (“Twelve”), a privately-held medical device company based in Redwood City, California, focused on the development of a transcatheter mitral valve replacement (TMVR) device. Twelve is the twelfth company spun out from the premier medical device incubator The Foundry.
Global Heart Valve Repair and Replacement Market Dynamics–
Increasing aging population, rising advances in diagnostic technologies thereby increasing the diagnosis rates, rising awareness regarding the new treatments available in the market, increasing incidences of congenital heart defects, and other cardiovascular diseases affecting heart valves, and the advantages of minimally invasive techniques over traditional surgeries are some of the major factors driving the growth of market. Moreover, high consumption of saturated trans-fat food has led to several cardiovascular diseases that in turn have grown the demand for the heart valve repair and replacement in the global market. According to American Heart Association, Cardiovascular disease is the leading global cause of death, accounting for more than 17.6 million deaths per year in 2016, a number that is expected to grow to more than 23.6 million by 2030. However, factors such as high cost of devices and surgeries, complex regulatory procedures and varied stringency of regulatory procedures may hinder the growth of the market to some extent.
Global Heart Valve Repair and Replacement Market Regional Analysis –
North America is expected to dominate the global heart valve repair and replacement market owing to the increasing prevalence of cardiovascular disorders in this region. In addition, rising geriatric population and mounting unhealthy lifestyle and diseases are also supplementing the market growth. For example; According to population reference bureau, the number of Americans ages from 65 and older is expected to nearly double from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group’s share of the total population will increase from 16% to 23%. Asia-Pacific is projected to be the fastest growing region in the global heart valve repair and replacement market, due to the existence of huge pool of patients, and growing geriatric population in the region. In addition, the Asia-Pacific market is rising due to increasing healthcare expenditure, growing awareness of healthcare, and refining healthcare infrastructure in the emerging countries, such as India and China.
Key Benefits for Global Heart Valve Repair and Replacement Market Report–
Global heart valve repair and replacement market report covers in depth historical and forecast analysis.
Global heart valve repair and replacement market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global heart valve repair and replacement market report helps to identify opportunities in market place.
Global heart valve repair and replacement market report covers extensive analysis of emerging trends and competitive landscape.
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Global Heart Valve Repair and Replacement Market Segmentation:–
By Type of Procedure:
Heart Valve Repair
Heart Valve Replacement
By Type of Replacement:
Mechanical Heart Valve
Tissue Heart Valve
Transcatheter Heart Valve
By Disease Indication:
By End User:
Ambulatory surgical center
Cardiac catheterization laboratories
By Regional & Country Analysis:
The Middle East and Africa
Rest of Middle East and Africa
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