(I-BusinessNews.Com, July 20, 2020 ) Globally, the prosthetic heart valves market is witnessing growth due to factors such as rising geriatric population and the subsequent growth in the prevalence of heart valve disease (HVD), regulatory approvals for new and advanced prosthetic heart valves, increasing government funding for heart valve research, rising awareness about HVD, and favorable reimbursement scenario for prosthetic heart valves.
According to research report the global prosthetic heart valves market is projected to reach $8.86 Billion by 2022 from $4.84 Billion in 2017, at a CAGR of 12.9%.
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On the basis of type, the global prosthetic heart valve market is categorized into three segments transcatheter, tissue, and mechanical heart valve.
High cost of transcatheter aortic valve replacement procedures and availability of alternative methods for treating heart valve diseases are the major restraints for the market.
In the report, the global prosthetic heart valves market has been analyzed with respect to four major geographies—North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to command the largest share of 55.20% of the global prosthetic heart valves market in 2017 and is projected to register the highest CAGR of 16.1% from 2017 to 2022.
A number of key players in this market are competing against each other in order to expand their existing customer base. The prosthetic heart valves market, by type, is categorized as transcatheter heart valves, tissue heart valves, and mechanical heart valves. In 2016, Edwards Lifesciences Corporation (U.S.) and Medtronic plc (Ireland) dominated both, the transcatheter heart valves and the tissue heart valves market segments; the mechanical heart valves market was dominated by St. Jude Medical, Inc. (an Abbott Laboratories Company) (U.S.) and LivaNova PLC (U.K.).
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The prosthetic heart valves market is dominated by Edwards Lifesciences Corporation (U.S.), Medtronic plc (Ireland), St. Jude Medical, Inc. (an Abbott Laboratories Company) (U.S.), Boston Scientific Corporation (U.S.), LivaNova PLC (U.K.), Symetis SA (Switzerland), JenaValve Technology, Inc. (Germany), CryoLife, Inc. (U.S.), TTK Healthcare Limited (India), Colibri Heart Valve, LLC (U.S.), Lepu Medical Technology Co., Ltd. (China), and Braile Biomédica (Brazil).
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