Global Heart Valve Devices Market Overview
The global heart valve devices market is poised to grow impressively, at a CAGR of 13.4% during the forecast period (2020-2025). Sedentary lifestyles, physical inactivity and other habits such as smoking have induced the prevalence of cardiovascular diseases. Consequently, the demand for minimally invasive procedures to address cardiac anomalies have increased substantially.
Application of contemporary technologies in heart valve surgeries, such as the Transcatheter Aortic Valve Replacement (TAVR), have allowed room for increased preference for such surgeries. Key manufacturers are capitalizing on this trend to expand their sales.
The market is anticipated to surpass a valuation of US$ 16.2 Bn by the end of 2025. Increased life expectancy, resulting in a rising proportion of geriatric population, is also anticipated to boost heart valve devices market growth. This is attributed to the fact that larger lifespans are inversely proportional to good health. As the number of elderly people increase, incidences of cardiovascular problems also compound.
Global Heart Valve Devices Product Insights
Transcatheter heart valve devices exhibit a strong growth trajectory during the forecast period. 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. A market share of more than two-fifth is predicted for transcatheter heart valves segment.
Biological heart valves shall capture the second-largest market share, accounting for nearly one-third of the global heart valve devices market. Increased usage of biological heart valve grafts among patients below 60 years of age are boosting its demand. Prevention of formation of blood clots and non-requirement of anti-coagulant medicines are anticipated to bolster the growth of biological heart valves segment. Projected CAGR for biological heart valves is a whopping 13.0%.
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Global Heart Valve Devices Regional Insights
North America is projected to continue dominating the global heart valve devices market, registering more than two-fifths of the market share. 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. The North American heart valve devices market is projected to expand at a CAGR of 13.7% during the forecast period.
Following North America is Asia-Pacific, which shows promising expansion capabilities. Large investment by market players and improvement in healthcare infrastructure are key growth drivers.
In volume terms, mechanical heart devices are projected to capture the maximum market, owing to increased life expectancy and affordable prices. The Asia-Pacific heart valve devices market is set to expand robustly at a CAGR of 14.4% during the forecast period.
Global Heart Valve Devices Manufacturing Companies
Edward Lifesciences Corporation is the leading player in the heart valve devices market. It follows a three-pronged growth strategy: patient-focused care, addressing unmet needs of structural heart disease patients and innovations. The company manufactures the SAPIEN Transcatheter Heart Valve, Magna Ease Aortic/Mitral Valve, PERIMOUNT Aortic/Mitral Valve and Theon Mitral/Aortic Valve.
Likewise, Abbott Laboratories product pipeline in the cardiovascular business segment consists of a transcatheter aortic heart valve system, left arterial appendage occlude and pacemakers, among others. Its structural heart products segment include the MitraClip Transcatheter Mitral Valve Repair.
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COVID-19 Impact Insights:
The ongoing COVID-19 pandemic is poised to affect the heart valve devices market to a significant extent. As healthcare professionals increasingly direct their resources towards caring for coronavirus-infected patients, other health issues are being relegated to the back seat.
While cardiac surgery units have a responsibility to the patient, they are equally responsible for the safety of their healthcare workers and the wider healthcare services in a region or country.
Therefore, healthcare organizations have urged practitioners to delay elective procedures. As nationwide lockdowns intensify, production cycles and supply chains are getting disrupted, causing shortage in essential equipment required for cardiac procedures.
Several key players, such as Edwards Lifesciences Corporation, have temporarily suspended the production of heart valve devices in order to cater to COVID-19 patients. Likewise, Boston Scientific Corporation has redirected all its resources to fight the pandemic.
The company has boosted its production of ventilators and personal protective equipment such as masks and gloves to be provided to hospitals and other healthcare settings.
The global heart valve devices market is set to embark upon a positive growth trajectory, burgeoned by surging popularity of minimally invasive procedures. However, the COVID-19 pandemics shall inhibit the supply of heart valve devices, attributed to market players’ shifting focus towards addressing the pandemic.
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Global Heart Valve Devices: Report Scope
The recent report published by Fact.MR incorporates a detailed forecast on the global heart valve devices market prospects between 2020 and 2025. It includes an analysis of the key drivers, restraints and opportunities associated with the growth of the market.
The report has been segmented on the basis of product type and end-users. Each segment also includes various sub-segments, which have been analyzed in terms of their revenue, market share and growth rate throughout the forecast period.
A regional landscape across five geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) has been embedded. Each region is studied based on the segmentations mentioned above.
A detailed competitive landscape, highlighting key players’ revenue and market shares, their key expansion strategies, product launches, and SWOT analysis, has also been included within the scope of this report.
Global Heart Valve Devices: Market Segmentation
Fact.MR has studied the global heart valve devices market with detailed segmentation on the basis of Type, End-user and key regions.
- 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
- Ambulatory Surgical Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”
Global Heart Valve Devices Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in global heart valve devices market across the globe.
A comprehensive estimate of the global heart valve devices market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of the global heart valve devices market during the forecast period. Price point comparison by region with global average price is also considered in the study.
Global Heart Valve Devices Market: Analysis on Market Size Evaluation
The global heart valve devices market has been analyzed for each market segment, in terms of value (US$ Mn) and volume (units).
Market estimates at global and regional levels for heart valve devices is available in terms of “US$ Mn” for value and in terms of units for volume. A Y-o-Y growth contrast on prominent guidewire market segments, along with market attractiveness evaluation has been incorporated in the report.
Global Heart Valve Devices Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the global heart valve devices report, which have helped to deliver projection on the regional markets. These chapters include the regional macros (economic, and business environment outlook), which are expected to have a momentous influence on the growth of the global heart valve devices market during the forecast period.
Country-specific valuation on demand for heart valve devices has been offered for each regional market, along with the market scope, estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Global Heart Valve Devices Market: In-Depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of global heart valve devices along with their detailed profiles. Essential and up-to-date data information related to the market performers, who are principally engaged in the provision of global heart valve devices, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit the report readers to take preemptive steps in advancing their businesses.
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