Global Prosthetic Heart Valves Market, by Product Type (Mechanical Heart Valves (Mechanical Aortic Valve and Mechanical Mitral Valve), Biological/Tissue Heart Valves (Tissue Aortic Valve and Tissue Mitral Valve), and Transcatheter Heart Valves (Transcatheter Aortic Valve and Transcatheter Mitral Valve)), by End User (Hospitals and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 10,307.1  Million in 2022 and is expected to exhibit a CAGR of 9.9 % during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

The increasing geriatric population, sedentary lifestyle, and technological advancement in prosthetic heart valves are expected to drive the global prosthetic heart valves market growth. In addition, an increase in the prevalence of rheumatic heart disease, the most common valvular heart disease, is expected to provide lucrative growth to the global prosthetic heart valves market during the forecast period. For instance, according to research published in Multidisciplinary Digital Publishing Institute (MDPI), a publisher of open access scientific journals, on June 15, 2022, approximately 41 million people globally are suffering from rheumatic heart disease.

Global Prosthetic Heart Valves Market – Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and consequent lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic. COVID-19 had a limited impact on the prosthetic heart valves market, due to an increase in the prevalence of heart related problems among COVID-19 patients. For instance, according to the Centers for Disease Control and Prevention, on July 15, 2022, heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the U.S. One person dies every 34 seconds in the U.S. from cardiovascular disease. About 20.1 million adults age 20 and older suffer from coronary artery disease (CAD).

Global Prosthetic Heart Valves Market: Key Developments

Various companies are focusing on the development of polymeric heart valve technologies. For instance, in October 2019, the California Institute of Technology and Foldax, a company involved in the development of heart valves with the goal of improving hemodynamic performance similar to natural human valves, announced the development of Tria heart valve that combines LifePolymer, an advanced biopolymer material, and a patented bio-inspired design to offer a heart valves capable of serving for 15 years without calcification, risk of clotting, or damage to red blood cells.

Browse 27 Market Data Tables and 26 Figures spread through 155 Pages and in-depth TOC on “Global Prosthetic Heart Valves Market”- Forecast to 2030, Global Prosthetic Heart Valves Market, by Product Type (Mechanical Heart Valves (Mechanical Aortic Valve and Mechanical Mitral Valve), Biological/Tissue Heart Valves (Tissue Aortic Valve and Tissue Mitral Valve), and Transcatheter Heart Valves (Transcatheter Aortic Valve and Transcatheter Mitral Valve)), by End User (Hospitals and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/prosthetic-heart-valve-market-69

Moreover, an increase in product approvals by government organizations such as Drugs Controller General of India (DCGI) is expected to drive the market growth. For instance, Foldax, a company involved in the development of heart valves with the goal of improving hemodynamic performance similar to natural human valves, on 8 December, 2021, announced that it had received the Drugs Controller General of India (DCGI) approval to commence a clinical trial of its Tria aortic heart valve in India.

Key Takeaways of the Global Prosthetic Heart Valves Market:

  • The global prosthetic heart valves market is expected to exhibit a CAGR of 9.9 % during the forecast period, due to an increase in product approvals by various government organizations such as the U.S. FDA (Food and Drug Administration). For instance, on September 22, 2021, Abbott, a multinational pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) has approved the company's Epic Plus and Epic Plus Supra Stented Tissue Valves to improve therapy options for people with aortic or mitral valve disease.
  • Among product type, mechanical heart valve is the most widely used prosthetic heart valve for the treatment of patients suffering from valvular heart disease. This is mainly owing to its durability and favorable outcomes compared to tissue heart valves. However, tissue heart valve is preferred for the treatment of geriatric patients, as it is usually accepted a lot faster by the body.
  • On the basis of regions, North America is estimated to account for the largest market share in the global prosthetic heart valves market over the forecast period
  • Major players operating in the global prosthetic heart valves market are Edwards Lifesciences Corporation, Medtronic plc., Boston Scientific Corporation, Abbott Laboratories, LivaNova PLC, CryoLife, Inc., Braile Biomedica, Colibri Heart Valve, LLC, and JenaValve Technology, Inc.

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo