(MENAFN- Ameliorate Digital Consultancy)
Demand for transcatheter heart valve devices will continue to thrive, with a documented CAGR of 13.1% during the 2015-2021 historical period of assessment, while demand for aortic valve biological healthcare devices proliferated at a rate of 13.4% during the same time period. The APAC will dominate the global market, registering a growth opportunity worth US$ 18.5 Billion from 2022 to 2032.
Fact.MR has predicted the Heart Valve Device market to upswing at 13% CAGR between 2022 and 2032 in comparison to the 13.1% CAGR throughout the historic period. Sedentary lifestyles, physical inactivity and other habits such as smoking have induced the prevalence of cardiovascular diseases. Subsequently, the demand for minimally invasive procedures to address cardiac anomalies have increased substantially across the globe.
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Key Challenges to Heart Valve Devices Industry Expansion Heart valve replacement, being an invasive process, is linked with possible risk positions as a major factor restraining the cardiac valve market growth. The difficulties associated with replacement surgery comprise excessive bleeding, arrhythmia, kidney problems, stroke, heart failure, infection, clots, and others. Even though, minimally invasive procedures are accessible with less risk and complications; the cost of the surgery is very high when compared to invasive surgery. These difficulties can sternly impact the patient pool undergoing surgery, thereby hampering the market size.
However, stringent government regulations, unavailability of skilled professionals, and repayment issues are some of the key factors limiting growth of the global prosthetic heart valves market.
Country-wise Analysis How Opportunistic are Growth Prospects across the U.S Market? The U.S is projected to continue dominating the global heart valve devices market, registering more than 2/5th of the market share. The prevalence of heart diseases is increasing at a rapid pace around the world. The World health Organization (WHO) affirms cardiovascular diseases as the principal cause of death all over the world. In order to put a lid on the snowballing cases, heart valve devices are necessary.
The Centers for Disease Control and Prevention survey also mentions heart disease as the number one cause of death in the U.S. Rising adoption of technologically advanced heart valve repair devices, in order to reduce treatment duration and procedures are poised to steer market growth.
Also, increasing FDA approvals of transcatheter aortic valves is boosting revenue shares of key market players, thus augmenting the overall heart valve devices market. Fact.MR forecasts that the U.S heart valve devices market is projected to expand at a CAGR of 13.7% to reach US$ 23.7 Billion during the forecast period. Currently, the demand for heart valve devices is proliferating at annual growth rate of 13.2% to reach the market valuation of nearly US$ 6.5 Billion in 2022.
Category-wise Insights Which Heart Valve Type is Most Preferred in the Global Market? Transcatheter heart valve devices exhibit a strong growth trajectory during the forecast period. Transcatheter aortic valve replacement is a relatively recent revolutionary treatment that has now become a standard procedure for treating severe aortic stenosis. Rising demand for minimally invasive procedures have prompted players to invest heavily in research and development of new surgical procedures.
Moreover, product launches in transcatheter heart valve prosthesis such as SAPIEN Transcatheter Heart Valve, Magna Ease Aortic and Mitral Valves and PERIMOUNT Aortic/Mitral Valves, are anticipated to boost prospects of transcatheter valves. Fact.MR report summarizes that the market share of more than 40% is predicted for transcatheter heart valves segment, expanding at a CAGR of 8% throughout the forecast period.
As per a report by National Library of medicine, with the development & advancement in the field of transcatheter mitral valve replacement (TMVR), a critical part of evaluating patients with mitral valve disease will be utilizing the heart team approach to identify and individualize the most appropriate treatment for each patient.
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Competitive Landscape Prominent Heart Valve Devices providers are reliant on partnerships, collaborations, acquisitions, and new software launches so as to stay afloat in the global market. Constant innovations to ensure a seamless client-customer relationship are the main focus of prominent market players.
In March 2022, Edwards Lifesciences Corporation received approval from the U.S. Food and Drug Administration (FDA) for the MITRIS RESILIA valve, a tissue valve replacement specifically designed for the heart's mitral position. In January 2022, CryoLife, Inc., a leading cardiac and vascular surgery company focused on aortic disease, made an announcement of renaming and rebranding itself to Artivion, Inc., effective immediately. Derived from the word's“aorta”,“innovation”, and“vision”, the company's new name and brand reflect its evolution to focus on providing innovative technologies to surgeons who treat patients with aortic disease.
Key Market players: Edwards Lifesciences Corporation Braile Biomedica St. Jude Medical Inc. Medical Technology Est. Micro Interventional Devices Inc. Boston Scientific Corporation Liva Nova PLC Cryolife, Inc. Jena Valve Technology Inc.
Key Segments Covered in the Heart Valve Devices Industry Survey · Heart Valve Devices by Type Mechanical Heart Valves Aortic Valve Mitral Valve
Biological Heart Valve Aortic Valve Mitral Valve Pulmonary Valve Tricuspid Valve
Transcatheter Valves Aortic Valve Mitral Valve Pulmonary Valve
· Heart Valve Devices by End User Heart Valves in Hospitals Heart Valves in Ambulatory Surgical Centers
· Heart Valve Devices by Region North America Heart Valve Devices Market Latin America Heart Valve Devices Market Europe Heart Valve Devices Market Asia Pacific Heart Valve Devices Market Middle East & Africa Heart Valve Devices Market
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