Dublin, Aug. 30, 2021 (GLOBE NEWSWIRE) -- The "Prosthetic Heart Valve Devices and Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global prosthetic heart valve devices and equipment market is expected to grow from $2.26 billion in 2020 to $2.36 billion in 2021 at a compound annual growth rate (CAGR) of 4.4%. The market is expected to reach $3.47 billion in 2025 at a CAGR of 10.1%.
Major players in the prosthetic heart valve devices and equipment market are Boston Scientific, Edward life sciences, Medtronic, Livanova and Abbott.
The prosthetic heart valve devices and equipment market consists of sales of prosthetic heart valve devices and equipment. These devices that are implanted in the heart of patients who have valvular heart disease. The prosthetic heart valve helps in the reduction of discomfort due to a diseased valve in the heart and reduces the risk of mortality. Mechanical heart valves, transcatheter heart valves and tissue heart valves are a few examples of prosthetic heart valves.
Companies in this market are increasingly preferring polymer valves over traditional mechanical and bio-prosthetic valves/tissue valves. Polymer heart valves are prosthetic heart valves made of polymeric materials and have better functioning than tissue and mechanical heart valves. Mechanical heart valves come with a lifelong requirement of using blood-thinning medication to prevent blood clotting whereas bio-prosthetic heart valves comes with a short life span that needs several replacements and have a risk of valve degradation.
Polymeric heart valves on the other hand supports better blood flow and reduces risk of blood clotting and therefore does not have the disadvantages of tissue and mechanical valves. Therefore, various companies are focusing on development of polymeric heart valve technologies,
Prosthetic heart valve devices have stringent procedures for approval which restrains the growth of the prosthetic heart valve devices and equipment market. According to the US food and drugs administration (FDA), randomized clinical trials are required for any medical device, in order to test for its safety standards. Randomized clinical trial is a clinical method of study that involves the separation of groups of patient subjects using random selection.
This is done to compare different medicines and treatment methods in a fair manner with no room for bias and also to detect side-effects, if any. However, these random clinical trials take long periods of time. For example, Abbott Vascular Inc. filed an approval application for their mitraclip delivery system in 2010 and they received their approval for the same in 2019.
Rising prevalence of valvular heart disease has driven the need for transcathether aortic valve replacement (TAVR) procedures, thus driving the prosthetic heart valve devices and equipment market. TAVR is a minimally-invasive surgical procedure done to cure aortic sthenosis which is a valvular heart disease that affects the aortic valve of the heart.
Aortic sthenosis affects the aortic valve by hardening it, thus not allowing blood to properly flow through it and TAVR is used to replace this defective aortic valve with a transcatheter valve. As the rate of occurrence of valvular heart diseases rise, the number of TAVR procedures done can be expected to increase which also increases the demand for transcatheter valves, thus driving the market going forward.
Key Topics Covered:
1. Executive Summary
2. Prosthetic Heart Valve Devices And Equipment Market Characteristics
3. Prosthetic Heart Valve Devices And Equipment Market Trends And Strategies
4. Impact Of COVID-19 on Prosthetic Heart Valve Devices And Equipment
5. Prosthetic Heart Valve Devices And Equipment Market Size And Growth
5.1. Global Prosthetic Heart Valve Devices And Equipment Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Prosthetic Heart Valve Devices And Equipment Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Prosthetic Heart Valve Devices And Equipment Market Segmentation
6.1. Global Prosthetic Heart Valve Devices And Equipment Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Transcatheter Heart Valve
- Tissue Heart Valve
Mechanical Heart Valve
6.2. Global Prosthetic Heart Valve Devices And Equipment Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Hospitals
- Ambulatory Surgery Centres
6.3. Global Prosthetic Heart Valve Devices And Equipment Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Repair Products
- Mitral Valve Repair Devices
- Tricuspid Valve Repair Devices.
6.4. Global Prosthetic Heart Valve Devices And Equipment Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Biological Valve
- Decellularized Valve
7. Prosthetic Heart Valve Devices And Equipment Market Regional And Country Analysis
7.1. Global Prosthetic Heart Valve Devices And Equipment Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Prosthetic Heart Valve Devices And Equipment Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/o571ot
