Globally, the prosthetic heart valves market
is witnessing growth due to factors such as rising geriatric population
and the subsequent growth in the prevalence of heart valve disease
(HVD), regulatory approvals for new and advanced prosthetic heart
valves, increasing government funding for heart valve research, rising
awareness about HVD, and favorable reimbursement scenario for prosthetic
heart valves.
According to research report the global
prosthetic heart valves market is projected to reach $8.86 Billion by
2022 from $4.84 Billion in 2017, at a CAGR of 12.9%.
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On
the basis of type, the global prosthetic heart valve market is
categorized into three segments transcatheter, tissue, and mechanical
heart valve.
High cost of transcatheter aortic valve replacement
procedures and availability of alternative methods for treating heart
valve diseases are the major restraints for the market.
In the
report, the global prosthetic heart valves market has been analyzed with
respect to four major geographies—North America, Europe, Asia-Pacific,
and the Rest of the World (RoW). North America is expected to command
the largest share of 55.20% of the global prosthetic heart valves market
in 2017 and is projected to register the highest CAGR of 16.1% from
2017 to 2022.
A number of key players in this market are
competing against each other in order to expand their existing customer
base. The prosthetic heart valves market, by type, is categorized as
transcatheter heart valves, tissue heart valves, and mechanical heart
valves. In 2016, Edwards Lifesciences Corporation (U.S.) and Medtronic
plc (Ireland) dominated both, the transcatheter heart valves and the
tissue heart valves market segments; the mechanical heart valves market
was dominated by St. Jude Medical, Inc. (an Abbott Laboratories Company)
(U.S.) and LivaNova PLC (U.K.).
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The
prosthetic heart valves market is dominated by Edwards Lifesciences
Corporation (U.S.), Medtronic plc (Ireland), St. Jude Medical, Inc. (an
Abbott Laboratories Company) (U.S.), Boston Scientific Corporation
(U.S.), LivaNova PLC (U.K.), Symetis SA (Switzerland), JenaValve
Technology, Inc. (Germany), CryoLife, Inc. (U.S.), TTK Healthcare
Limited (India), Colibri Heart Valve, LLC (U.S.), Lepu Medical
Technology Co., Ltd. (China), and Braile Biomédica (Brazil).
