The Prosthetic Heart Valve Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Prosthetic Heart Valve Market is estimated to be USD 4.28 billion in 2016 and predicted to rise to USD 7.85 billion by 2021 with a CAGR of 12.9%. The market is segmented by type (Mechanical Heart Valve, Tissue Heart Valve and Transcatheter Heart Valve). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The surging incidence of heart disorders along with the rise in the geriatric population is driving the market forward. Other factors such as intense competition between the market players regarding R&D, innovative new products and the willingness of the government to provide funds for the sector drive the market forward. Nevertheless, the market growth is hampered by the high costs associated with the treatment and the regulations posed by the government. Inspite of the adversities faced by the patient post-surgery being another restraint of the market, the growing demand for minimally invasive techniques along with the plethora of untapped opportunities in the field will only take the market forward.
Tissue valves held the largest market share in 2016 and the transcatheter valves segment is expected to be the fastest growing market segment in the forecast years. Factors such as the increasing incidence of aortic stenosis, increasing pool of patients due to pending approvals and the technological advancements are understood to be the reason for the growth of the segment.
Globally, North America is the largest market for prosthetic heart valves mainly owing its dominance to the technological advancements in the region, the increase in heart valve disorders due to the prevailing lifestyle and the government funding. It is followed by Europe and the Asia-Pacific, who has the highest growth rate among all global markets. Another surprisingly fast growing market is Latin America, who inspite of its small market share has the second highest growth among the regions. Both Asia-Pacific and Latin America offer vast opportunities in the forecast years.
Several multinational companies operate in the prosthetic heart valve. The major market players in the market include Corvia Medical, CardioKinetix, Biomerics LLC, Lepu Medical Technology, XELTIS BV, Comed BV, HLT, Meril Life Sciences, SYMETIS SA and Transcatheter Technologies GmbH.
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