The increase in the prevalence of valvular heart diseases is driving the prosthetic heart valve market. The convenience, higher reliability, reduced costs, less discomfort, recovery time, and improved function associated with a prosthetic heart valve, has contributed to its rising prominence. An upsurge in the geriatric population is another factor contributing to the burgeoning growth of the market. Older adults run higher risks of getting this disease since ageing causes scarring in the valve cup and calcium build-up in the valve tends to happen over a long period. Moreover, the easy accessibility of computational equipment for accurate valvar disease detection is also providing impetus to the market. There has also been widespread awareness regarding minimally invasive surgeries. The cumulative force of these factors is anticipated to unlock tremendous growth opportunities in the prosthetic heart valve market.
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Ascending Aortic Valve Disease Cases to Stimulate Market Growth
On the basis of disease, the aortic valve disease segment is anticipated to generate significant revenue for the prosthetic heart valve market. The growing cases of cardiovascular diseases, high blood pressure, high cholesterol and diabetes, have resulted in the growing prevalence of aortic valve disease. Treatments such as transcatheter aortic valve replacement (TAVR) and balloon valvuloplasty are common treatments for the disease, depending on the details of the specific case. By the end of the forecast period, the rise in the aortic valve disease incidence in both emerging and developed regions of the world is projected to unleash favourable business outcomes in the prosthetic heart valve market.
Transcatheter Valve Replacement to Create Strong Momentum in Prosthetic Heart Valve Market
Of late, transcatheter aortic valve replacement (TAVR) has been gaining prominence among patients. The growing incidence of aortic stenosis has created the need for transcatheter aortic valve replacement. A transcatheter valve is a minimally invasive operation that replaces the damaged aortic valve. TAVR reduces the signs and symptoms of aortic valve stenosis — such as shortness of breath, fainting, chest pain, and fatigue. The technological advancements apropos to TAVR have further fueled the demand for this treatment. Additionally, it is considered a suitable option for individuals with a risk of complications from surgical aortic valve replacement. Such a scenario is expected to unlock fresh economic opportunities in the prosthetic heart valve market.
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North America to Emerge as Key Region Owing to Growing Incidence of Heart Valve Conditions
North America is projected to sustain its dominance in the global prosthetic heart valve market. The rising number of heart valve replacement surgeries in the region is anticipated to facilitate market expansion. The well-established healthcare infrastructure is also playing an essential role. Other factors that are expected to have a positive impact on this regional market growth include a rise in disposable income. Witnessing the lucrative business landscape of the prosthetic heart valve market, key players are investing in robust partnerships and novel RD initiatives. All these factors are set to drive North America’s prosthetic heart valve market to sound maturity.
Major Market Players
Some of the prominent prosthetic heart valve market players include Medtronic, Boston Scientific Corporation, On-X Life Technologies, Cryolife, Inc., St. Jude Medical, Inc. (Abbott), Edwards Lifesciences, Micro Interventional Devices, Inc., and Sorin Group.
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