The global heart valve devices market features a moderate degree of competition as established players hold majority of the market share, says Transparency Market Research (TMR) in a new research report. Time and cost considerations in the production of heart valve devices is restricting the entry of new players in the market. Nevertheless, established players are further strengthening their position by devising innovative strategies to sustain their competitive state.
The top three companies, namely Edward Lifesciences Corporation, Medtronic plc, and St. Jude Medical Inc. held more than 80% of the market in 2016, say analysts at TMR.
This 129 page report gives readers a comprehensive overview of the heart valve devices market. Browse through 18 data tables and 52 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/heart-valve-devices-market.html
The global heart devices market stood at US$5.0 bn in 2016 and is estimated to reach a valuation of US$14.4 bn by 2025 expanding at a CAGR of 12.4% between 2017 and 2025.
Asia Pacific to Display Outstanding Growth in Market
By type, the heart valve devices market is segmented into mechanical heart valve, transcatheter aortic valve, and biological heart valve. The mechanical heart valve segment held the leading share of the heat valve devices market in 2016. High prevalence of heart valve diseases among the growing geriatric population across the world has led to an increasing demand for mechanical heart valve devices. This is because mechanical heart valve devices are highly durable and have improved survival rate significantly over biological heart valves.
On the basis of distribution channel, the market is segmented into ambulatory surgical centers, hospitals, and others (cardiac centers, research centers, etc.). Among these, hospitals led the market in 2016 as they are present in large numbers as compared to ambulatory surgical centers and others. Moreover, hospitals are the first choice of patients for undergoing surgeries as they are equipped to handle emergency situations. However, increasing number of ambulatory surgical centers are expected to boost the growth of the market. This is because ambulatory surgical centers are easy to access and are cost effective as well.
On the basis of geography, the market for heart valve devices is segmented into North America, Asia Pacific, Europe, and the Middle East and Africa. North America is expected to maintain its dominance during the forecast period from 2017 to 2025. In this region, modern healthcare infrastructure along with high prevalence of cardiac diseases and high disposable income amongst patient population is benefitting the heart valve devices market.
Request a sample of this report to know what opportunities will emerge in the rapidly evolving heart valve devices market during 2017 - 2025: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=486
Nevertheless, market share of Asia Pacific is expected to display increased market share over the forecast period. For instance, increasing prevalence of cardiac and vulvular diseases, changing lifestyle in emerging economies, increasing medical tourism, healthcare reforms in place in China that are aimed at providing improved healthcare services are expected to benefit the Asia Pacific heart valve devices market in the coming years.
Promise of Improved Life Quality for Patients boosts Growth
The heart valve devices market is driven by several factors. First and foremost, it leads to improved quality of life for individuals with heart diseases. Heart valve devices are used to replace damaged natural valves of the heart.
Rising geriatric population in most parts of the world have accelerated the prevalence of cardiac and vulvular diseases, which is the rendering significant impact on the growth of heart valve devices market. In addition, advances in technology leading to improved outcomes of minimally invasive procedures has also accentuated the growth of this market.
However, high cost of the devices and tedious process to obtain regulatory approvals are acting as bottlenecks to the market’s growth,
The top three companies, namely Edward Lifesciences Corporation, Medtronic plc, and St. Jude Medical Inc. held more than 80% of the market in 2016, say analysts at TMR.
This 129 page report gives readers a comprehensive overview of the heart valve devices market. Browse through 18 data tables and 52 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/heart-valve-devices-market.html
The global heart devices market stood at US$5.0 bn in 2016 and is estimated to reach a valuation of US$14.4 bn by 2025 expanding at a CAGR of 12.4% between 2017 and 2025.
Asia Pacific to Display Outstanding Growth in Market
By type, the heart valve devices market is segmented into mechanical heart valve, transcatheter aortic valve, and biological heart valve. The mechanical heart valve segment held the leading share of the heat valve devices market in 2016. High prevalence of heart valve diseases among the growing geriatric population across the world has led to an increasing demand for mechanical heart valve devices. This is because mechanical heart valve devices are highly durable and have improved survival rate significantly over biological heart valves.
On the basis of distribution channel, the market is segmented into ambulatory surgical centers, hospitals, and others (cardiac centers, research centers, etc.). Among these, hospitals led the market in 2016 as they are present in large numbers as compared to ambulatory surgical centers and others. Moreover, hospitals are the first choice of patients for undergoing surgeries as they are equipped to handle emergency situations. However, increasing number of ambulatory surgical centers are expected to boost the growth of the market. This is because ambulatory surgical centers are easy to access and are cost effective as well.
On the basis of geography, the market for heart valve devices is segmented into North America, Asia Pacific, Europe, and the Middle East and Africa. North America is expected to maintain its dominance during the forecast period from 2017 to 2025. In this region, modern healthcare infrastructure along with high prevalence of cardiac diseases and high disposable income amongst patient population is benefitting the heart valve devices market.
Request a sample of this report to know what opportunities will emerge in the rapidly evolving heart valve devices market during 2017 - 2025: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=486
Nevertheless, market share of Asia Pacific is expected to display increased market share over the forecast period. For instance, increasing prevalence of cardiac and vulvular diseases, changing lifestyle in emerging economies, increasing medical tourism, healthcare reforms in place in China that are aimed at providing improved healthcare services are expected to benefit the Asia Pacific heart valve devices market in the coming years.
Promise of Improved Life Quality for Patients boosts Growth
The heart valve devices market is driven by several factors. First and foremost, it leads to improved quality of life for individuals with heart diseases. Heart valve devices are used to replace damaged natural valves of the heart.
Rising geriatric population in most parts of the world have accelerated the prevalence of cardiac and vulvular diseases, which is the rendering significant impact on the growth of heart valve devices market. In addition, advances in technology leading to improved outcomes of minimally invasive procedures has also accentuated the growth of this market.
However, high cost of the devices and tedious process to obtain regulatory approvals are acting as bottlenecks to the market’s growth,
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