Bioprosthetic valves are usually made from animal tissue mounted on a metal or polymer support. Tissue heart valves are harvested from cow heart sac (bovine) or porcine (pig) heart valves. Percutaneous aortic valve replacement (PAVR) is a less invasive procedure to replace the damaged aortic valve with bioprosthetic aortic valve. Transcatheter mitral valve repair is a minimally invasive procedure for the percutaneous reduction of degenerative mitral regurgitation (MR) disorder among ageing population that reflects abnormal reversal of blood flow through mitral valve.
The global prosthetic heart valve market is estimated to account for US$ 21,968.6 Mn in terms of value by the end of 2027.
Global Prosthetic Heart Valve Market: Drivers
Increasing number of heart valve implantation procedures is expected to propel growth of the global prosthetic heart valve market over the forecast period. For instance, the study, ‘Annual number of candidates for transcatheter aortic valve implantation per country: current estimates and future projections’, published in European Heart Journal in July 2018, estimated 114,757 European and 58,556 Northern-American transcatheter aortic valve implantation candidates, annually.
Global Prosthetic Heart Valve Market: Opportunities
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 favourable outcomes compared to tissue heart valve. However, tissue heart valve is preferred for the treatment of geriatric patients as it is usually accepted a lot faster by the body. Thus, companies can focus on improving tissue heart valve (bioprosthetic valve) implantation products and enhance its lifespan, in order to increase adoption.
Global Prosthetic Heart Valve Market: Restraints
Increasing product recalls is expected to hamper growth of the global prosthetic heart valve market. For instance, in August 2019, Edwards Lifesciences recalled its Sapien 3 Ultra replacement heart valve amid risk of burst balloons during implantation of the transcatheter aortic valve replacement.
The Transcatheter Heart Valves segment in the global prosthetic heart valve market was valued at US$ 2,572.8 Mn in 2019 and is expected to reach US$ 6,874.8 Mn by 2027 at a CAGR of 13.1% during the forecast period. Increasing prevalence of valvular heart disease (VHD) is anticipated to drive the growth of the segment during the forecasted period.
The Biological/Tissue Heart Valves segment held dominant position in the global prosthetic heart valve market in 2019, accounting for 42.0% share in terms of value, followed by Mechanical Heart Valves, respectively. Increasing number of heart valve implantation procedures is expected to increase demand for prosthetic heart valves during the forecasted period.
The prevalence of congenital heart disease in children is high among developing nations, which increases demand for prosthetic heart valves. For instance, according to the study, Prevalence, profile, and pattern of congenital heart disease in Central India: A prospective, observational study (published in May 2018), the prevalence of congenital heart disease (CHD) was 10.13/1000 live births.
The market is witnessing development of size-adjustable prosthetic heart valve. For instance, in February 2020, researchers from Harvard Medical School reported development of a geometrically adaptable heart valve replacement.
Global Prosthetic Heart Valve Market: Competitive Landscape
Major players operating in the global prosthetic heart valve market include, Edwards Lifesciences Corporation, Medtronic plc., Boston Scientific Corporation, Abbott Laboratories, LivaNova PLC, CryoLife, Inc., Braile Biomedica, Colibri Heart Valve, LLC, and JenaValve Technology, Inc.
Global Prosthetic Heart Valve Market: Key Developments
September 2019: Medtronic plc. launched the Evolut PRO+ TAVR System – a new-generation Medtronic TAVR system, for the treatment of patients with symptomatic severe aortic stenosis at a low risk of surgical mortality
February 2019: LivaNova PLC received reimbursement for its Perceval sutureless aortic heart valve in Japan from Ministry of Health, Labor and Welfare, for treatment of aortic valve disease
Scope of the report