Albany, NY -- (SBWIRE) -- 01/22/2016 -- The global heart valve repair and replacement market is witnessing significant growth due to growing geriatric population, change in lifestyles, and associated conditions leading to cardiovascular disorders. Moreover, technological advancements in heart valve repair and replacement devices and surgeries, and rise in medical tourism promoting heart valve repair and replacement surgeries are also driving the market. However, there are various risks and complications associated with these surgeries such as irregular heart rhythm, breathing problems, and embolism. Furthermore, lack of primary healthcare infrastructure in developing countries inhibits the growth of the heart valve repair and replacement market.

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The heart valve repair and replacement market is anticipated to grow from an estimated USD 2,945.2 million in 2014 to USD 4,712.7 million by 2020 at a CAGR of 8.1% during the forecast period. North America was the largest market for heart valve repair and replacement in 2014, with tissue heart valve being the most popular type of heart valve replacement. In terms of growth, Asia Pacific is the fastest growing region. In terms of type of valve, while transcathater heart valve was the fastest growing segment.

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.

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Heart valve repair is the repair of the damaged leaflet tissue, and resizing of the heart valve by removing excessive tissue. 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.

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