Report Ocean presents a comprehensive research report on Prosthetic Heart Valve, analyzing markets in 150+ countries. With access to 1,00000+ annual reports, subject matter experts ensure accuracy. Methods like S.W.O.T., P.E.S.T.E.L., and regression analysis forecast growth. The report covers regulations, research tech, innovation, and future trends in Prosthetic Heart Valve.
The global prosthetic heart valve market size was US$ 6.1 billion in 2021. The global prosthetic heart valve market is projected to grow to US$ 16.7 billion by 2030 by registering a compound annual growth rate (CAGR) of 12.1% during the study period from 2022 to 2030.
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Prosthetic heart valves (PHVs) are used to replace ill native heart valves in individuals suffering from valvular incompetence, stenosis, or both. Prosthetic heart valves are used to replace native heart valves that need to be replaced. The three primary types of prosthetic heart valve are mechanical heart valves, bioprosthetic heart valves, and homograft heart valves.
COVID-19 Impact Analysis
COVID-19 has disrupted the entire scenario for the healthcare sector. The spread of this deadly disease forced the healthcare sector to dedicate entire facilities to the treatment of COVID-19-affected patients. As per the government ban and restrictions, most of the surgeries were suspended, which, in turn, hampered the growth of the prosthetic heart valve market.
Factors Influencing the Market
The growing prevalence of valvular heart diseases will primarily propel the demand for a prosthetic heart valve. The American College of Cardiology study says that approximately 5 million Americans are detected with heart valve disease annually. Additionally, Hope for Hearts reports that 1 in 8 geriatric people in Australia has aortic stenosis.
The market will also grow as a result of the increase in the geriatric population, which are more susceptible to getting valvular heart disease. Additionally, Hope for Hearts reports estimates that around 97,000 Australians above the age of 55 years are suffering from severe aortic stenosis (AS), which raises the scope of the prosthetic heart valve market during the analysis period. Additionally, the shift toward a sedentary lifestyle of people and growing advances in heart valves will benefit the global prosthetic heart valve market during the analysis period.
Rising awareness about the benefits of computational tools, which allow for accurate valvar disease detection, will contribute to the market growth during the analysis period. However, the high cost of prosthetic heart valves may limit product demand during the study period.
Regional Analysis
Asia-Pacific is projected to exhibit the highest growth rate in the prosthetic heart valve market due to the growing medical expertise in the region, combined with the factors like new product launches and favourable government regulations sustaining the production & maintenance of cardiac valve devices.
Additionally, the rising prevalence of lifestyle disorders, including diabetes and obesity, will contribute to market growth. The market will also record potential growth due to the prevalence of cardiac disorders, such as aortic stenosis, and rising healthcare expenditure in China, India, and other developing nations.
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Competitors in the Market
Abbott, Medtronic
MERIL LIFESCIENCES
Boston Scientific Corporation
Micro Interventional Devices, Inc.
Direct Flow Medical, Inc.
Edwards Lifesciences Corporation
LivaNova PLC.
JenaValve Technology, Inc.
CryoLife, Inc.
Other Prominent Players
Market Segmentation
The global prosthetic heart valve market segmentation focuses on Product, Position, and Region.
By Product
Mechanical Heart Valve
Tissue Heart Valve
Stented Tissue Heart Valve
Stentless Tissue Heart Valve
Transcatheter Heart Valve
By Position
Mitral Valve
Aortic Valve
Other Positions
By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
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Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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