Prosthetic Heart Valves Market Analysis:
The heart valves are responsible for directing blood flow within the body, and malfunctioning valves can disrupt this flow. To address this issue, artificial heart valves, also known as prosthetic heart valves, are implanted to improve valve function. These valves are typically made from pyrolytic carbon, a strong and durable material. Mechanical heart valves, which are the most commonly used prosthetic heart valves for treating valvular heart disease, can be either mechanical aortic valves or mechanical mitral valves. As the number of heart valve implantation procedures continues to increase, it is anticipated that the global prosthetic heart valves market will experience growth in the foreseeable future.
According to projections, the global market for prosthetic heart valves will reach a value of US$ 10,307.1 million in 2022, and it is anticipated that the market will experience a compound annual growth rate (CAGR) of 9.9% from 2022 to 2030.
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The global market for prosthetic heart valves is anticipated to experience growth, as the rising occurrence of valvular heart disease (VHD) is expected to be a driving factor.
Market growth in the coming years is expected to be driven by the increasing prevalence of valvular heart disease. A study published in the Journal of the American College of Cardiology in March 2019, titled ‘Epidemiology and Trends of Aortic Stenosis Mortality in the United States (1999-2016)’, found that aortic stenosis was linked to a mortality rate of 106.3 per 1 million individuals, with the highest rate among non-Hispanic whites, followed by Hispanics and non-Hispanic blacks.
The global prosthetic heart valves market is projected to experience growth in the coming years, and this growth is expected to be driven in part by an increase in healthcare spending.
As an illustration, the Centers for Medicare & Medicaid Services (CMS) has projected that healthcare spending in the United States will grow at an average annual rate of 5.5% and is estimated to reach almost US$ 6.0 trillion by 2027.
Global Prosthetic Heart Valves Market – Impact of Coronavirus (COVID-19) Pandemic
Since the outbreak of the COVID-19 virus in December 2019, it has spread to more than 100 countries worldwide, leading the World Health Organization to declare it a public health emergency on January 30, 2020.
The COVID-19 pandemic has had three primary impacts on the economy, including direct effects on drug and vaccine production and demand, disruptions to distribution channels, and financial consequences for companies and financial markets. Several countries, such as China, India, Saudi Arabia, the UAE, Egypt, and others, experienced transportation problems for drugs and vaccines due to nationwide lockdowns. While the COVID-19 pandemic caused issues with drug distribution, the impact on the prosthetic heart valves market was limited. This is because the prevalence of heart-related issues among COVID-19 patients increased.
Global Prosthetic Heart Valves Market: Key Developments
In a press release on September 28, 2020, Boston Scientific Corporation, a multinational manufacturer of medical devices specializing in biomedical and biotechnology engineering, unveiled the ACURATE neo2. This is a new and improved transcatheter aortic valve implantation system designed to enhance the clinical performance of the original ACURATE neo platform.
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Global Prosthetic Heart Valves Market: Restraint
The high cost of transcatheter heart valve products and the recall of products are potential factors that could hinder the growth of the global prosthetic heart valves market. Transcatheter aortic valve replacement (TAVR) devices, for example, cost an average of US$32,000, compared to US$4,000 to US$7,000 for surgical valve devices, and TAVR and surgical procedures cost an average of US$37,900 and US$14,200, respectively.
In addition, Boston Scientific, a multinational manufacturer of medical devices that specializes in biomedical and biotechnology engineering, announced a voluntary global recall of the LOTUS Edge Aortic Valve. This recall was necessary due to complexities with the delivery system.
Key Players
Some of the leading companies in the global prosthetic heart valves market are Abbott Laboratories, Boston Scientific Corporation, Braile Biomedica, Colibri Heart Valve, LLC, CryoLife, Inc., Edwards Lifesciences Corporation, JenaValve Technology, Inc., LivaNova PLC, and Medtronic plc. are some of the major players in the global prosthetic heart valves market.
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key market segments
1.3.Key benefits to the stakeholders
1.4.Research Methodology
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
3.4.Top player positioning
3.5.Market dynamics
3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities
3.6.COVID-19 Impact Analysis on the market
CHAPTER 4: PROSTHETIC HEART VALVE MARKET, BY PRODUCT
4.1 Overview
4.1.1 Market size and forecast
4.2 Mechanical Heart Valve
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Tissue Heart Valve
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.3.4 Stented Tissue Heart Valve
4.3.4.1 Key market trends, growth factors and opportunities
4.3.5 Stentless Tissue Heart Valve
4.3.5.1 Key market trends, growth factors and opportunities
4.4 Transcatheter Heart Valve
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
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