Home > Healthcare & Medical Devices > Prosthetic Heart Valves Market
Prosthetic Heart Valves Market Size is anticipated to register a lucrative CAGR between 2022 and 2028. These devices are surgically implanted into the heart for replacing a damaged heart valve and provide several advantages. For instance, mechanical heart valves are highly durable and promise around 20 to 30 years of functioning in ideal conditions. In addition, these valves are in high demand as they reduce the chance of blood clotting on the valve surface.
Based on product type, the transcatheter aortic valve segment in the prosthetic heart valves market is anticipated to record appreciable gains through 2028 owing to the surging demand for transcatheter aortic valve replacement (TAVR). Various regulatory bodies have approved the use of these procedures in a broad spectrum of patients citing multiple parameters. Moreover, numerous organizations are also engaged in research activities for advancing the usage of this technique and improving the devices that are used for TAVR, which will propel segmental expansion through the forecast period.
By disease, the prosthetic heart valves market is projected to witness substantial proceeds from the aortic valve disease segment by 2028. This rise is mainly attributed to the high incidence of AVD, which is the most common valvular heart disease across the globe. As per statistics, over 13 million people are diagnosed with valvular heart disease in Europe every year, with the global number being around 100 million. This elevates the demand for various types of prosthetic heart valves, given that in majority of the cases, severe AVD is treated with prosthetic aortic valve replacement.
Considering the regional perspective, the North America prosthetic heart valves market is expected to register considerable expansion by 2028. This growth can be credited to the increasing advocation of various products by regulators in the region. For instance, in March 2021, the U.S. FDA approved the Harmony TPV (Transcatheter Pulmonary Valve) System for the treatment of adult and pediatric patients having a native or surgically repaired RVOT (right ventricular outflow tract).
Major companies in the prosthetic heart valves market comprise Medtronic, Edwards Lifesciences, Boston Scientific Corporation, On-X Life Technologies, Inc., St. Jude Medical, Inc. (Abbott), Cryolife, Inc., Micro Interventional Devices, Inc., Sorin Group, and others. These players are focusing on the adoption of expansion initiatives including mergers, acquisitions, product developments, collaborations, and partnerships for maintaining their position in the market.
For instance, in September 2021, Abbott secured the approval of the U.S. FDA for its Epic Plus and Epic Plus Supra Stended Tissue Valves. This approval is set to boost treatment options for individuals diagnosed with mitral or aortic valve diseases.
According to an analysis published in Circulation: Cardiovascular Imaging, SARS-CoV-2 patients with prosthetic heart valves are likely to face an escalated risk of bioprosthetic valve thrombosis. As per a case in February 2021, doctors are of the opinion that patients with endovascular devices and prosthetic heart valves could be at a risk of thrombotic complications arising from COVID-19.
Similar studies have been cautioning healthcare providers against such complications, propelling the need for further research for determining anticoagulation strategies for the treatment and prevention of these conditions in the setting of COVID-19 infection. These factors are set to give a new dimension to product developments across the prosthetic heart valves industry in the coming years.
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Market, by Diseases
Market, by End-use
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