Pune, April 06, 2020 (GLOBE NEWSWIRE) -- The global Heart Valves market size is expected to reach USD 15.98 billion by 2026, on account of the advent of customized Heart Valvess. A Heart Valves allows blood to flow in only one direction through the heart. Blood passes through a valve before leaving every chamber of the heart. These valves helps to abstain the backward flow of blood. A recently published report by Fortune Business Insights™ titled, “Heart Valves Market Size, Share & Industry Analysis, By Product Type (Replacement (Aortic, Mitral, and Others), and Repair), By Valve Type (Tissue Valve and Mechanical Valve), By Procedure (Surgical and Transcatheter), By End User (Hospitals, and Specialty Clinics & Others), and Regional Forecast, 2019-2026” discusses the market and its growth parameters in details. As per this report, the market value was USD 6.58 billion in 2018 and will rise at a CAGR of 11.7% between 2019 and 2026.
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What is the Scope of the Report?
The report presents a comprehensive overview of the market with its prime growth parameters such as drivers, restraints, challenges, and upcoming opportunities. It discusses the market segmentation and the overall competitive landscape in details. List of players and their key strategies to gain a competitive edge in the market are also discussed in the report. Furthermore, the report provides key industry developments, current Heart Valves market trends, and other interesting insights.
An Overview of the Impact of COVID-19 on this Market:
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Market Drivers
Increasing Popularity of Minimally Invasive Surgeries Will Add Impetus
Rise in sedentary lifestyle, adoption of irregular eating habits and the increasing preference for ready-to-eat food have resulted in a number of cholesterol and obesity cases. This acts as a major Heart Valves market growth factor. Besides this, the rise in geriatric population and their vulnerability to various cardiovascular disorders is also expected to aid in expansion of the market in the forecast period.
However, the complications associated with Heart Valves repair and replacement surgeries may retract many patients from opting for this surgery. This may hamper the overall market growth. Nevertheless, the advent of latest technology, increasing popularity of minimally invasive surgeries, and launch of innovative products are expected to create lucrative growth opportunities for the market in the coming years.
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Regional Segmentation:
North America Dominating Market with Rising Number of Valve Repair and Replacement Procedures
Based on geographical viewpoint, North America is holding the largest Heart Valves market share with a revenue generation of USD 2.64 billion earned in 2018. Growth of this region is attributed to the rise in obese population and increasing number of valve replacement and repair procedures in the region. As per the American Heart Association, about 90,000 valve substitutes undergo implantation on an annual basis in the U.S. This indicates the rise in demand for prosthetic Heart Valvess in the region.
On the other side, Asia Pacific market will witness significant growth in the years to follow on account of the increasing obese and geriatric population, rising adoption of tissue valves at a rapid pace, and support from the government. Besides this, the market in the Middle East and Africa and Latin America will witness a substantial rise on account of the rising cases of Heart Valvess leakage and improvement in healthcare infrastructure and medical facilities.
Competitive Landscape:
Abbott and Edwards Lifesciences to Dominate Market with Strong Portfolio
As per the competitive landscape of the market is concerned, currently two major companies namely Abbott and Edwards Lifesciences are dominating the market. Among these, Edwards Life Sciences ranks first followed by Abbott. This is owing to their diverse portfolio and the rising demand for SAPIEN valve by Edwards Lifesciences. Other companies operating in the market are focusing on development of new products that will be most suitable for patients. They are acquiring strategies such as mergers and acquisitions, company collaborations, contracts and agreements, and others to attract high Heart Valves market revenue in the forthcoming years.
List of Manufacturers in the Heart Valves Market include:
- Abbott
- LivaNova PLC
- CryoLife Inc.
- Edward Lifesciences Corporation
- Medtronic
- Boston Scientific Corporation
- Micro Interventional Devices, Inc.
- Other Players
Major Industry Developments of the Heart Valves Market Include:
May 2017 – Symetis SA was acquired by Boston Scientific Corporation for the expansion of the company’s product portfolio.
September 2019 – The pivotal trial called TRILUMINATE for the evaluation of TriClip was launched by Abbott. TriClip is a transcatheter tricuspid valve repair used in the treatment of tricuspid regurgitation.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Epidemiology of Heart Valve Disease – For Key Countries
- Reimbursement Scenario For Key Countries
- Regulatory Scenario For Key Countries
- Technological Advancement in Heart Valve Market
- New Product Launches
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Global Heart Valve Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Replacement
- Aortic
- Mitral
- Others
- Repair
- Replacement
- Market Analysis, Insights and Forecast – By Valve Type
- Tissue Valve
- Mechanical Valve
- Market Analysis, Insights and Forecast – By Procedure
- Surgical
- Transcatheter
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Specialty Clinics & Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued….!
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