Allied Market Research recently published a report, titled, “Prosthetic Heart Valve Market by Product (Mechanical Heart Valve, Tissue Heart Valve, Transcatheter Heart Valve): Global Opportunity Analysis and Industry Forecast, 2021-2031”. According to the report, the global Prosthetic Heart Valve industry was valued at $6.9 billion in 2021, and is estimated to reach $19.7 billion by 2031, growing at a CAGR of 11.1% from 2022 to 2031.
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Prosthetic Heart Valve Market Overview:
An artificial heart valve, also known as a prosthetic heart valve, is inserted in the heart of someone who has cardiac vascular disease (valvular heart disease). A strong material such as carbon or titanium is used to construct the prosthetic valve. Mechanical heart valves, transcatheter heart valves, and tissue or bio-prosthetic heart valves are the three forms of prosthetic heart valves. Individuals have the option of picking a prosthesis based on their health state and the advice of their surgeon. The heart valve replacement method allows the diseased valve to be removed and replaced with an artificial valve.
Prosthetic Heart Valve Market Segmentation:
By product type, the market is segregated into mechanical heart valve, tissue heart valve, and transcatheter heart valve. The tissue heart valve segment is further segmented in stented tissue heart valve and stentless tissue heart valve. The transcatheter heart valve segment dominated the market in 2021, and is anticipated to continue this trend during the forecast period, owing to rise in prevalence of cardiac disorders and surge in demand for cardiac valve replacement therapies.
Region wise, North America captured the major prosthetic heart valve market share, in terms of revenue among other regions in 2021, owing to technological advancements in medical care and increase in prevalence of cardiovascular disorders. Asia Pacific is anticipated to grow at higher CAGR during the forecast period. The significant growth is due to increase in prevalence of valvular heart diseases, increasing per capita healthcare expenditure and direct presence of market players in countries such as Japan, China and others.
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Prosthetic Heart Valve Market: By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Important Questions Being Answered by the Prosthetic Heart Valve Market Report:
What is the Prosthetic Heart Valve market size and growth?
What are the prominent and latest trends impacting the market?
Which is the largest regional market for Prosthetic Heart Valve?
The key players in the global Prosthetic Heart Valve market industry include Abbott Laboratories, Medtronic plc.,MERIL LIFESCIENCES, Boston Scientific Corporation, Micro Interventional Devices, Inc., Direct Flow medical, Inc., Edwards Lifesciences Corporation, LivaNova PLC., JenaValve Technology, Inc., and Cryolife, Inc.
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