The global heart valve replacement market is expected to grow from an estimated USD 2,281.2 million in 2014 to USD 3,767.0 million in 2020 at a CAGR of 8.7% during the forecast period.
Albany, NY -- (SBWIRE) -- 09/25/2015 -- The heart is a muscular organ positioned at the superior surface of the diaphragm. Its primary function is to pump blood into the veins and arteries. Heart valves are thin flaps of tissue in the mammalian heart, which ensure unidirectional flow of blood between the four chambers during the cardiac cycle. The main valves in the human heart are tricuspid valve, mitral valve, pulmonary valve, and aortic valve. Valvular abnormalities are mainly of two forms: stenosis - narrowing of the valve, which causes accumulation of blood, and regurgitation - failure of the valve to close properly (), which causes blood to leak back into the heart. The symptoms of heart valve diseases vary depending on the valve affected and its severity. Heart valve disease is a mechanical problem and hence, heart valve surgery is `eventually needed to repair or replace a damaged valve.
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North America dominates the global market for heart valve repair and replacement due to rising aging population and increasing prevalence of lifestyle-associated diseases leading to cardiovascular diseases. The hear valve repair and replacement market in Asia Pacific is expected to show high growth rates over the next five years. China and India are expected to be the fastest growing markets in the region. Some of the key driving factors of the heart valve repair and replacement market in emerging countries are rising disposable income, large pool of patients, growing medical tourism, and changing lifestyles and associate conditions in the region.
Elderly people have low regenerative abilities and are susceptible to heart diseases such as aortic stenosis and ischemic mitral regurgitation. Moreover, sedentary lifestyles and junk food habits are increasing obesity, and, in turn, increasing prevalence of cardiovascular diseases in developed and developing countries. Growing geriatric population, technological advancements in heart valve repair and replacement, and change in lifestyles and associated conditions leading to cardiovascular disorder are some of the factors fuelling the growth of the global heart valve repair and replacement market. On the other hand, risks and complications associated with heart valve repair and replacement surgeries such as irregular heart rhythm, breathing problems, and embolism inhibits the growth of the market. Furthermore, lack of primary healthcare infrastructure in developing countries is a major concern for the market.
This report provides in-depth analysis and estimation of heart valve repair and replacement market for the period 2014-2020, considering 2013 as the base year for calculation. Moreover, data pertaining to current market dynamics, including market drivers, restraints, trends, and recent developments, has been provided in the report. The heart valve repair and replacement market is categorized on the basis of type of procedure, type of replacement, and geography. Based on type of procedure, the market comprises heart valve repair and heart valve replacement. On the basis of type of replacement, the market is categorized as mechanical heart valve, tissue heart valve, and transcathater heart valve. On the basis of geography, the report identifies and analyzes the market size and predictions for North America, Europe, Asia Pacific, and Rest of the World (RoW).
Some of the major players in the heart valve repair and replacement market are Edwards Lifesciences Corporation, St. Jude Medical, Inc., Medtronic, Inc., Sorin Group, Boston Scientific Corporation, and Abbott Laboratories, Inc. These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.
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