The size of the North America Prosthetic Heart Valves Market is valued USD 1.60 billion in 2022 and is estimated to be growing at a CAGR of 12.66% to reach USD 2.90 billion by 2027. North America is anticipated to account for the largest market share globally during the forecast period and was the market leader in 2022.
The prosthetic heart valves market in North America is majorly driven by the increasing geriatric population and Y-O-Y growth in the patient’s community, diagnosed with heart-related diseases. The key market players in this region are heavily investing in the R &D. They are coming up with the new instruments and devices to win the competition, which is estimated to take the market's growth levels to the next level in the soon years. Furthermore, the rising incidence rate of heart disorders among North American people due to their lifestyle and dietary changes is added to provide fuel to the growth rate of the market. Growing healthcare expenditure in the U.S. is another supporting factor in the North American prosthetic heart values market.
High costs associated with the prosthetic heart valves, strict rules and regulations for the FDA approval process for the launch of new products are likely to hamper the market to a small extent in the coming years. The risks associated with the prosthetic heart valves and the adverse side effects related to the post-treatment are estimated to showcase a minor negative impact on the market's growth rate.
This research report on the North America Prosthetic Heart Valves Market has been segmented and sub-segmented into the following categories.
North America is presently the most extensive market shareholder globally, with over one-third of the market's total revenue being generated from the region. Despite the large share, the growth rate for the area is one of the lower. It is to be expected due to the developed nature of the region. It also makes it difficult for new companies to enter the market and thrive due to the prevailing companies' dominance.
The U.S. prosthetic heart values market leads the North American market with a dominant share due to the growing number of heart surgeries, advancements in technology, and the rising number of aging populations. According to the Centers for Disease Control and Prevention, nearly 395,000 coronary artery bypass surgical procedures were executed in the U.S. in 2014.
The Canadian prosthetic heart valves market is the second leading country next to the U.S in the prosthetic heart valves market during the analysis period as of technological advancements, increased occurrence rate of vascular diseases, and the growing number of senior populations.
Some of the Promising Companies leading the North America Prosthetic Heart Valves Market Profiled in the Report are 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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