Heart Valve Devices Market to Surge at a CAGR of 12.4% by 2025

A report by Transparency Market Research predicts the global heart valve devices market to progress impressively by registering a CAGR of 12.4% during the period from 2017 to 2025. Rising at this pace, the market which was worth US$5.8 bn in 2016 will likely become worth US$16.2 bn in 2025.

Rising Prevalence of Obesity Stokes Growth in Market

At the forefront of driving the global market for heart valve devices is the increasing instances of obesity and unhealthy lifestyle of people worldwide, leading to cardiac diseases and pathological disorders. Besides, the rising demand for minimally invasive procedures which lowers the need for blood transfusions, infections, and even hospital stays by speeding the healing procedure, is also serving to up demand for the devices. In addition, continued product modifications brought about by incorporating latest technologies leading to more advanced heart valve devices is also proving beneficial to the market.

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“The innovations in the overall structure and design of valve have borne promising results in valve replacement surgeries. The use of regenerative medicine and in-situ tissue engineering for the development of bio absorbable heart valves is the main area of focus of major market players, who are trying to foray into the global heart valve devices market in the near future,” explains the lead analyst of the TMR report.

The different types of heart valve devices available in the market can be broadly segmented into mechanical heart valves, biological heart valves, and transcatheter heart valves. Of them, the segment of transcatheter heart valve devices dominate the market at present and will likely continue to retain its leading share in the near future as well. This is because of the increasing uptake of technologically advanced products in developed regions, more than average selling prices, and considerably lower mortality rate achieved by the devices.

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Geographically, the key segments of the global heart valve devices market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of them, Asia Pacific is slated to surpass all other regions vis-à-vis growth in the next couple of years on account of the growing instances of cardiovascular diseases and a large pool of heart patients. As per the TMR report, the region will likely expand at a CAGR of 13.3% in the forecast period.
The global heart valves devices market is a fragmented one on account of the presence of numerous manufacturers. While some have a diverse product portfolio, there are others who are focused on particular products. In the years ahead, the market is slated to see the entry of more players making the competition stiff, which in turn will lead to strategic collaborations and acquisitions.

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Some of the prominent participants in the global heart valve devices market are Abbott, CryoLife, Inc., Boston Scientific Corporation, Edward Lifesciences Corporation, TTK HealthCare, JenaValve Technology, Inc., Medtronic, Neovasc, Inc., Sorin Group, Micro Interventional Devices, Inc., and Lepu Medical Technology Co., Ltd. Some of the rising promising players include XELTIS, SYMETIS, Auto Tissue Berlin GmbH, and Novostia SA, among others.

Heart Valve Devices Market Trends, Regulatory Landscape and Operational Strategies 2025

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.
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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,

Heart Valve Devices Market - Global Industry Size, Share, Market Analysis And Forecasts 2012 - 2018

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.

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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.

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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.