A market research
report published by Transparency Market Research, titled “Heart
Valve Devices Market - Global Industry Size, Share, Trends, Analysis
And Forecasts 2012 - 2018”, offers a comprehensive overview of the
global heart valve devices market. The report estimates the market to
expand at a CAGR of 7.0% during the period between 2009 and 2016. In
2011, the overall heart valve devices market was worth US$1.26 bn.
With the introduction of new-age tissue heart valves, the market is
anticipated to register consistent growth and reach a valuation of
US$1.7 bn by 2015.
The report states
that the introduction of transcatheter aortic valve replacement
(TAVR) devices has boosted the growth of global heart valve devices
market. Developments in minimally invasive devices and advances in
related technologies have played a key role in fuelling the demand
from the market. The rapidly growing geriatric population has further
augmented the market growth. The 60 years and above age group
susceptible to cardiac problems, including valve malfunctioning is
the largest demographic group in the global heart valve devices
market.
On the basis of type
of devices, the global heart valve devices market has been segmented
into biological, mechanical, and tissue. Mechanical heart valves have
been available since the 1950s. The pyrolytic carbon parts in
mechanical valves do not wear out from the normal wear and tear
inside the heart. The strength of mechanical heart valves has
contributed to the longevity of patients. The advantage of tissue
valves is that in approximately 50% of patients, anticoagulant
medication is not needed on a longer run. Among the heart valve
device implants, Transcatheter aortic valve implant (TAVI) shows
healthy growth. Transcatheter valves have made it possible to conduct
valve-replacement and repair procedures on patients facing high risks
of complications related with heart surgery.
The report studies
the global heart valve devices market across four key regions: Asia
Pacific, North America, Europe, and Rest of the World. There has been
significant growth in the heart valve devices market in North America
and Europe. However, during the forecast horizon, growing geriatric
population suffering from heart ailments in Asia Pacific will drive
the market in the region.
Describing
competitive landscape, the report profiles some of the key players in
the global heart valve devices market. The global market has been
monopolized by three key market players: Medtronic, Edwards Life
Sciences, and St Jude Medical. Together, these companies account for
nearly 70% of the overall market. Heart valve device SAPIEN,
developed by Edwards Life Sciences has been approved by the U.S. FDA
and has brought unprecedented ease to valve replacement procedures.
The report offers insightful details about the players including
their business segmentation, revenue, and recent developments.
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