Promise of Improved Life Quality for Patients boosts Growth for Heart Valve Devices Market

Heart Valve Devices Market report categorizes the global market by Type (Mechanical Heart Valve, Biological Heart Valve, and Transcatheter Aortic Valve) End User (Hospitals, Ambulatory Surgical Centers, Cardiac Centers, and Research Centers) & Geography

Global Heart Valve Devices Market: Snapshot

The global heart valve devices market is anticipated to display consistent growth owing to the improved functional attributes and longer life of new-age biological heart valves. Heart valves play a significant role to ensure blood is flowing in the right direction. The valves of our heart contract and relax with every single heartbeat, which implies that they work throughout our lifetime to ensure continuous blood flow. However, the functioning of heart valves can be disrupted because of birth defects that can worsen over time, or due to aging, and other diseases.

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According to statistics of the World health Organization, almost 17.5 million individuals died of cardiovascular diseases in 2012 accounting for 31% of global health.

The demographic group of individuals above the age of sixty years represents the leading demand for heart valve devices. This is because individuals above the age group of sixty years are most susceptible to cardiac disorders, which includes heart malfunctioning.

The global heart valve devices market stood at US$5,046.7 mn in 2016 and is anticipated to reach US$14,358.3 mn by 2025 reflecting a CAGR of 12.4% between 2017 and 2025.

Transcatheter Aortic Valves to Emerge as Leading Product Segment

In terms of type, the global heart valve devices market is divided into mechanical heart valve, transcatheter aortic heart, and biological heart valve. Mechanical heart valves among these, held the leading share of the heart valve devices market in 2016 as they minimize blood cell damage, followed by least resistance to blood flow. Moreover, mechanical heart valves last long and do not require second surgery as required for biological heart valves.

However, the segment of transcatheter aortic valve is anticipated to rise at the leading CAGR of 13.4% between 2017 and 2025. This is because transcatheter aortic valve technology is a minimally-invasive procedure used to treat heart valve disorder that eliminates the need for traditional or conventional aortic surgery.

By distribution channel, the heart valve devices market is segmented into hospitals, ambulatory surgical centers, and others (cardiac centers, research centers, etc.). Hospitals led the heart valve devices market in 2016 as they are widely available and are mostly preferred by patients to carry out surgical procedures. However, ambulatory surgical centers are expected to lead the heart valve devices market as they are easy to access and are cost-effective as well.

Increasing Prevalence of Cardiovascular Diseases to Make Asia Pacific Lucrative Market for Heart Valve Devices

North America led the global heart valve devices market accounting for 40% of the overall market in 2016. The region is expected to retain its lead position due to the faster integration of technology with healthcare services and rising adoption of transcatheter heart valve procedure among patients with surgical risks. The Europe market for heart valve devices is anticipated to hold second-leading 33.9% share of the overall market by 2025. This is mainly due to increasing product maturity and increasing awareness about novel replacement devices for cardiac disorders.

On the other hand, emerging economies of Asia Pacific such as China and India are expected to outperform their Western counterparts due to an increasing patient pool of patients with heart disorders, rising medical tourism, and significantly changing lifestyle. These factors are expected to make Asia Pacific the most striking region for heart valve devices in the near future.

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The key players in the global heart valve devices market are Abbott Laboratories, CryoLife Inc., Mediotronic cplc. Sorin Group, Boston Scientific Corporation, Edward Life Sciences Corporation, and Neovasc Inc. among others.

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Company Name: Transparency Market Research
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Keywords : Heart Valve Devices Market,

by Aman Gambhi (last year!)

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