The Global Prosthetic Heart Valves Market is estimated to be growing at a CAGR of 12.9% owing to rise in the prevalence of cardiac disorders.
Hyderabad, India -- (SBWIRE) -- 01/11/2018 -- The Global Prosthetic Heart Valves Market was worth USD 4.28 billion in 2016 and estimated to be growing at a CAGR of 12.9%, to reach USD 7.85 billion by 2021.
The heart plays a vital role in the proper functioning of the human body by controlling the blood flow. There are mainly four main types of valves in the heart, namely bicuspid, pulmonary, mitral and aortic valves. A prosthetic heart valve is a device that is implanted in a patient suffering from valve failures in the heart or other heart diseases which puts the patient at risk of heart failure. They are implanted both as a preemptive treatment and a reactive treatment.
The valves in the heart are integral to the normal functioning of the human body. They are evolved to perform tasks such as controlling the unidirectional flow of blood through the valve structure. Artificial valves must be designed to perform these tasks in addition to being accepted by the body after transplantation. Tissue valves are normally preferred over mechanical valves because of the latter requiring additional anticoagulant administration for the proper functioning of the valve. The requirement is lifelong whereas the tissue valve has no such additional treatment require
Bioprosthetic valves used in heart valve replacement generally offer functional properties (e.g., hemodynamics, resistance to thrombosis) that are more similar to those of native valves. Implantation of prosthetic cardiac valves to treat hemodynamically significant aortic or mitral valve disease has become increasingly common.
a) The growing prevalence of valvular heart disease and an aging population around the globe
b)Technological advancements in the field of interventional cardiology that include transcatheter aortic valve replacement (TAVR) and the desire to eliminate the need for open surgical procedures for valve replacements
c) The development of TAVR devices that are fully repositionable and retrievable, providing better clinical outcomes and reducing complications associated with valve replacement procedures
Restraints: Inspite of the advantages being numerous, the prosthetic heart valve market remains in check by restraints such as the excessive costs of the valve as well as the treatment itself and the very strict approval process for prosthetic valves before they are introduced into the market.
The Global Prosthetic Heart Valves market is broadly classified based on type into Mechanical Heart Valve, Tissue Heart Valve and Transcatheter Heart Valve. Based on geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. The Prosthetic Heart Valves Market is dominated by North America in 2016 with the region accounting for over a third of the overall market share. North America was followed next in line by Europe and Asia-Pacific. Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. Another market that shows promise in the coming years is Latin America.
The major market players in the Prosthetic Heart Valves market include Corvia Medical, CardioKinetix, Biomerics LLC, Lepu Medical Technology, XELTIS BV, Comed BV, HLT, Meril Life Sciences, SYMETIS SA and Transcatheter Technologies GmbH.
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