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Prosthetic Heart Valve Market Size Worth US$ 21,968.6 Million at a CAGR of 13.1% By 2028 | Medtronic plc., Abbott Laboratories, LivaNova PLC, CryoLife, Inc., Braile Biomedica,

March 15th, 2022 Coherent Market Insights Releases

Prosthetic Heart Valve Market

Overview

Cardiac prosthetic devices include, prosthetic heart valves such as mechanical heart valve and tissue heart valve along with annuloplasty rings, pacemaker leads, defibrillator leads, tissue patches, ventricular assist devices, and artificial hearts.

The global prosthetic heart valve market is estimated to account for US$ 21,968.6 Mn in terms of value by the end of 2027.

Global Prosthetic Heart Valve Market: Drivers

Approval and launch of new products is expected to propel growth of the global prosthetic heart valve market over the forecast period. For instance, in November 2019, Edwards Lifesciences Corporation received CE Mark for Edwards SAPIEN 3 transcatheter heart valve for the treatment of patients diagnosed with aortic stenosis who are at low risk for open-heart surgery.

Moreover, R&D in prosthetic heart valves is also expected to aid in growth of the global prosthetic heart valve market. For instance, in February 2020, researchers from Harvard Medical School reported development of a geometrically adaptable heart valve replacement.

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Global Prosthetic Heart Valve Market: Opportunities

R&D in prosthetic heart valves is expected to offer lucrative growth opportunities for players in the global prosthetic heart valve market. For instance, in October 2019, California Institute of Technology and Foldax reported development of the Tria heart valve that integrates LifePolymer, an advanced biopolymer material, and a patented bio-inspired design in order to offer a heart valve capable of lasting for 15 years without calcification, risk of clotting, or damage to red blood cells.

Global Prosthetic Heart Valve Market: Restraints

High cost of transcatheter heart valve products is expected to hinder growth of the global prosthetic heart valve market. For instance, the average cost of transcatheter aortic valve replacement (TAVR) devices is around US$ 32,000 as compared to US$ 4,000–US$ 7,000 for surgical valve devices and the average cost of TAVR and surgical procedure is US$ 37,900 and US$ 14,200, respectively.

Covid-19 Impact Analysis

Globally, as of 3:20pm CET, 8 December 2021, there have been 266,504,411 confirmed cases of COVID-19, including 5,268,849 deaths, reported to WHO. As of 6 December 2021, a total of 7,952,750,402 vaccine doses have been administered. The infection affects the inner surfaces of veins and arteries, which can cause blood vessel inflammation, damage to very small vessels and blood clots. Thus, the prevalence of cardiovascular diseases is expected to increase post Covid-19, boosting demand for interventional cardiology devices.

Key Takeaways:

Mechanical Heart Valves segment in the global prosthetic heart valve market was valued at US$ 2,476.9 Mn in 2019 and is expected to reach US$ 5,593.4 Mn by 2027 at a CAGR of 10.7% during the forecast period.

North America region held dominant position in the global prosthetic heart valve market in 2019, accounting for 41.8% share in terms of value, followed by Europe.

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Market Trends

North America is expected to witness significant growth in the global prosthetic heart valve market, owing to increasing number of heart valve implantation procedures in the region. For instance, the study, ‘Annual number of candidates for transcatheter aortic valve implantation per country: current estimates and future projections’, published in European Heart Journal in July 2018, estimated 114,757 European and 58,556 Northern-American transcatheter aortic valve implantation candidates,  annually.

Asia Pacific is also expected to witness significant growth in the global prosthetic heart valve market, owing to increasing prevalence of congenital heart disease in children in the region.  For instance, the prevalence of congenital heart disease was 10.13/1000 live birth, according to the study, Prevalence, profile, and pattern of congenital heart disease in Central India: A prospective, observational study (published in May 2018).

Global Prosthetic Heart Valve Market: Competitive Landscape 

Major players operating in the global prosthetic heart valve market include, Abbott Laboratories, Boston Scientific Corporation, Braile Biomedica, CryoLife, Inc., Colibri Heart Valve, LLC, Edwards Lifesciences Corporation, JenaValve Technology, Inc., LivaNova PLC, and Medtronic plc.

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Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippets, By End User
      • Market Snippet, By Region
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Regulatory Scenario
    • Mergers and Acquisitions
  4. Global Prosthetic Heart Valve Market, By Product Type, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Mechanical Heart Valves
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Mechanical Aortic Valve
        • Mechanical Mitral Valve
    • Biological/Tissue Heart Valves
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Tissue Aortic Valve
        • Tissue Mitral Valve
    • Transcatheter Heart Valves
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Transcatheter Aortic Valve
        • Transcatheter Mitral Valve
  5. Global Prosthetic Heart Valve Market, By End User, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Ambulatory Surgical Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)

View Press Release: https://www.coherentmarketinsights.com/press-release/prosthetic-heart-valves-market-to-surge-to-us-362-billion-by-2025-112

About US:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Contact Us:

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Email: sales@coherentmarketinsights.com
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