Envisioning a robust future for the Global Prosthetic Heart Valve Industry, it is poised to surge from a projected size of US$ 13,234.9 million in 2023 to an estimated US$ 27,277.6 million by 2033. This remarkable growth trajectory, marked by a 7.5% CAGR, is propelled by the escalating incidence of valvular disorders such as tricuspid regurgitation, idiopathic and ischemic mitral regurgitation, and aortic stenosis, driving a steady ascent in prosthetic heart valve sales through the year 2033.
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According to Future Market Insights, an increasing prevalence of valvular heart disease (VHD) is expected to augment the growth of the Global Prosthetic Heart Valve Industry during the forecast period. Regulatory approval for heart valves, integration of technological advancements, and an increasing number of heart valve implantation procedures are other factors expected to influence the revenue growth of the Global Prosthetic Heart Valve Industry in the next 10 years. However, high costs associated with transcatheter heart valve products, procedure-related risks and complications, and product recalls are some restraints likely to hamper the growth of the Global Prosthetic Heart Valve Industry over the forecast period.
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Segmentation highlights
The Global Prosthetic Heart Valve Industry is segmented based on Product Type (Mechanical Heart Valves, Biological/Tissue Heart Valves, Transcatheter Heart Valves) and End User (Hospitals, Ambulatory Surgery Centres).
- The Transcatheter Heart Valves product type segment is estimated to be valued at US$ 6,069.1 Mn by 2026 end, registering a CAGR of 13.3% between 2016 and 2026
- The Hospitals end user segment accounted for 74.5% market share of the Global Prosthetic Heart Valve Industry in 2015. Rising demand for quicker treatment options and remedies is expected to promote the revenue growth of the Hospitals segment over the forecast period
Regional market projections
The Global Prosthetic Heart Valve Industry is segmented by region into North America, Latin America Excluding Brazil, Brazil, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), and Middle East & Africa (MEA). The global prosthetic heart valve market is largely prominent in the developed regions.
The North America regional market is estimated to witness the highest CAGR of 12.4% during the forecast period followed by the Western Europe regional market at 12.1%. Factors such as legislative openness and inline approval procedures are expected to contribute largely to the revenue generation potential and attractiveness of the Western Europe prosthetic heart valve market. Rising adoption of transcatheter heart valves in geriatric patients for better care is expected to fuel revenue growth in the Japan prosthetic heart valve market over the forecast period.
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Vendor insights
The report on the global prosthetic heart valve market profiles some of the leading companies dominating the Global Prosthetic Heart Valve Industry . Top market players featured in the Global Prosthetic Heart Valve Industry report are Edwards Lifesciences Corporation, St. Jude Medical, Inc., Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, SYMETIS, LivaNova PLC, CryoLife, Inc., Braile Biomedica, Colibri Heart Valve LLC, and JenaValve Technology, Inc. Leading market players are focussing on delivering differentiated therapies to cardiac patients and are strengthening their foothold in the global prosthetic heart valve market through strategic collaborations and acquisitions.
Key competitors covered in terms of prosthetic heart valve market are Edwards Lifesciences Corporation, St. Jude Medical, Inc., Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, SYMETIS, LivaNovaPLC, CryoLife, Inc., Braile Biomedica, Colibri Heart Valve, LLC, and JenaValve Technology, Inc.
Key strategies adopted by most of the major players in the Global Prosthetic Heart Valve Industry include: product approvals and commercialisation, leveraging existing capabilities to create patient-centric technologies, briskly entering markets in emerging countries and offering the latest innovative technologies to healthcare facilities and, thus strengthening regional proficiency and addressing customer needs. New product launches, innovation and expansion are anticipated to form the core of these strategies during the forecast period.
Key Segment
By Product Type
- Mechanical Heart Valves
- Mechanical Aortic Valve
- Mechanical Mitral Valve
- Biological/Tissue Heart Valves
- Tissue Aortic Valve
- Tissue Mitral Valve
- Transcatheter Heart Valves
- Transcatheter Aortic Valve
- Transcatheter Mitral Valve
By End User
- Hospitals
- Ambulatory Surgery Centres
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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