Heart Valves Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Heart valves Market

The heart valves market size was valued at USD 6.58 billion in 2018, and the market is now projected tgrow tUSD 31.27 billion by 2032, exhibiting a CAGR of 11.8% during the forecast period of 2019-2026.

Due tthe COVID-19 outbreak, there was a major disruption observed in the global Heart valves market, as they mainly major cardiovascular procedures such as valve replacement surgeries were put on hold during the early phase of the COVID-19 outbreak for management of the same. Such an effect induced a temporary deterioration in the level of procedure performed and products needed. Besides, disruptions of the supply chains and manufacturing impacted the market as well. However, the market returned tgrowth again as healthcare organisations adjusted their service offer with a shift towards less costly, less capital-intensive procedures, and short-stay treatments. It alsaltered approaches tpatient management through advancing telemedicine as well an increasing usage of remote monitoring systems for pre- and post-operative cardiological intervention care all due tthe pandemic. These factors kept the heart valves market growth steady.

The surge in the replacement and repair heart surgeries, including minimal invasive surgeries, are the major drivers for the cardiac valve market. Diseases like aortic stenosis, cardiac valve vegetation, and other valvular stenosis areas are on the rise and are leading ta rise in surgeries across the globe. The demand for cardiac valves will increase over the course of the forecasted period due tthe new products being launched in tthe market. Even now, new tissue valves have introduced a shift in the prosthetic Heart Valves Market. Still, with the products defined as benign and using suture less techniques, the market should experience its exponential growth now. These factors drive the heart valve market shares.

Despite the successes, new complexities of this field arise from the fact that every human being has different heart valve structure particularly for the mitral valve. The current trend that is prominently being Advanced and Innovative 3D Printed Personalised Heart in Heart Valves Market. South African based company Strait Access Technologies and scientist at Switzerland’s ETH Zurich are in the process of fashioning designed cardiac valve from silicone using a technology known as 3D printing. The developed heart valves can, therefore, be easily modified concerning the patient’s structure for about 1.5 hours, unlike the traditional models.

Comprehensive Analysis of Heart valves Market

The heart valves market is responding quite an unprecedented rate of growth because of its market segmentation. This indicators growth in different regions by substituting the major forces of supply and demand which define the shape of local pharmacy benefit management market. Therefore, they are logically divided int4 Segments, By Product Type Analysis, By Valve Type Analysis, By Procedure Analysis and By End-User Analysis. In terms of product types, replacement and repair is the twmarket segments. The replacement segment can alsbe categorized intaortic and mitral, as well as other cases. Hence the replacement segment is expected thave largest market share in 2018 due trising number of valve replacement surgeries and health care reimbursement. Depending on the valve type, the tissue valve and the mechanical valve are the products available in this market. Tissue valves segment dominates due tpowerful benefits of the introduced bioprosthetic valves, flexibility, strength, and less dependence on the anticoagulants. This alsaffected the market of mechanical valves ta greater extent. Based on the procedure the market is classified intsurgical and transcatheter. As the patients have become more conscious, there is a rising trend towards less invasive technologies, and this is fueling the market for transcatheter heart valve. In addition, several improvements in technology and product development is expected tbuild up the transcatheter segment. With respect tthe end user, the market has been classified inthospital, specialty clinics, and others. The factors propelling the expansion of segments in hospitals include, rising number of procedures in hospital, better reimbursement in health and improving government regulations for the management of vulvar diseases. The specialty clinics & others segment’s growth is expected tgrow because of the developing number of private practitioners and the huge number of patients with unmet needs.

The market size in North America was valued at USD 2.64 billion in 2018. The significant number of health reimbursements, a higher number of valve repair/replacement surgeries, and the growing obese population are essentially contributing tNorth America being the market leader.

Edwards Lifesciences Corporation (U.S.), Abbott (U.S.), Medtronic (U.S.), LivaNova PLC (U.K.), Boston Scientific Corporation (U.S.), CryoLife, Inc. (U.S.), and MicrInterventional Devices, Inc. (U.S.) are significant players in the medical devices market. They are the key player that ensures the industry's success while still having tkeep pace with their innovation in product and services. They offer a competitive zone that incites the growth of technologies and quality assurance. They operate on a global scale and have a wide range of product lines ensuring that the market players compete on a fair playing field bringing in innovations that result in the market's evolution.

In September 2019, Abbott’s TRILUMINATE Pivotal trial fosters the TriClip™ transcatheter tricuspid valve repair system in the management of severe TR. Data suggest that TriClip is more effective than medical therapy for improving the severity of TR and the quality of life of patients. Such positive findings in the trial have triggered an fDA advisory committee trecommend for approval of TriClip ttreat TR.

Segmentation Table

ATTRIBITE DETAILS

Study Period - 2015-2026

Base Year - 2018

Forecast Period - 2019-2026

Historical Period - 2015-2017

Unit - Value (USD billion)

Segmentation By Product Type

• Replacement

Aortic

Mitral

Others

• Repair

By Valve Type

• Tissue Valve
• Mechanical valve

By Procedure

• Surgical
• Transcatheter

By End User

• Hospitals
• Specialty Clinics & Others

By Geography

• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East& Africa (South Africa, GCC and Rest of Middle East & Africa)

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