The Heart Valve Repair Replacement Market will reach US$ 12,621 Million at a CAGR of 10% between 2028. Analytics and big data process unstructured as well as the structured biomedical structure and medical data for generating new-fangled insights. As such, digital therapy experiences get an enhanced look with MR (mixed reality), AR (augmented reality), and VR (virtual reality). This would be the trend regarding the healthcare vertical in the forecast period.
Heart valve repair and replacements include the repair or the replacement of the cardiac valve, which is likely to be needed owing to the occurrence of valvular disease or any other cardiovascular disease. A prosthetic heart valve is a device that mimics the function of human heart valves and has a passive mode of functioning.
Prosthetic heart valves include mechanical heart valves as well as tissue or biological heart valves. Mechanical heart valves are generally made of material such as titanium and carbon. Mechanical heart valves have two leaflets and a metal ring.
Mechanical heart valves are of two types, i.e. mechanical sutured mitral valve replacements and mechanical sutured aortic valve replacements. Tissue heart valves are obtained from an animal tissue such as pig or cow tissue. Tissue heart valves can last upto ten to twenty years.
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Company Profiles:
- Abbott
- Edwards Lifesciences Corporation
- Boston Scientific Corporation
- CryoLife, Inc.
- LivaNova PLC
- Colibri Heart Valve
- JenaValve Technology, Inc.
- Micro Interventional Devices, Inc.
- Braile Biomedica
- Arbor Surgical Technologies, Inc.
- Aortech International Plc
Bovine and porcine valves are included in the tissue heart valve. Tissue heart valves include tissue sutured mitral valve replacements, tissue sutureless aortic valve replacements, and tissue sutured aortic valve replacements.
The introduction of advanced computational tools for studying the fluid dynamics is responsible for the growth of the heart valve repair and replacement market. Several companies are focusing on the innovation of new prosthetic heart valves. This factor is likely to contribute to the growth of the heart valve repair and replacement market. Several other factors, such as favorable reimbursement policies and favorable medical tourism policies, are expected to increase the overall growth of the heart valve repair and replacement market.
Increasing incidence of cardiac valvular diseases and other cardiovascular diseases are is expected to contribute to the growth of the heart valve repair and replacement market. Increase in the number of heart valve repair and replacement procedures is also expected to fuel the growth of the heart valve repair and replacement market.
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However, there are certain factors that are likely to hinder the growth of heart valve repair and replacement market. High costs and complications associated with the heart valve repair and replacement procedures are expected to restrain the growth of the heart valve repair and replacement market.
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Product recalls are also among the major factors responsible for hampering the overall growth of the heart valve repair and replacement market.
Mergers and acquisitions are among the ongoing trends of the heart valve repair and replacement market. For instance, in July 2015, Abbott Laboratories invested in Cephea Valve Technologies, a privately held company that manufactures and develops transcatheter mitral valve replacement via the transfemoral approach, and secured an option to acquire the company in the near future.
Based on product type, the global heart valve repair and replacement market has been segmented into heart valve repair products, heart valve replacement products, tissue heart valves, and transcatheter aortic valve implantation products. In terms of revenue, the transcatheter aortic valve implantation segment of the global heart valve repair and replacement market is expected to hold a significant share over the forecast period.
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Heart valve repair products and transcatheter aortic valve implantation are expected to exhibit a high growth rate in the overall heart valve repair and replacement market.
Based on disease indication, the global heart valve repair and replacement market has been segmented into aortic regurgitation, aortic stenosis, mitral stenosis, and mitral regurgitation. The aortic stenosis segment is expected to have the maximum market share in the forecast period.
Based on end users, the global heart valve repair and replacement market has been segmented into cardiac catheterization laboratories, hospitals, and ambulatory surgical centers. The hospitals segment is expected to account for the largest share of the global heart valve repair and replacement market.
Geographically, the global heart valve repair and replacement market is segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa. North America followed by Europe is expected to hold a substantial revenue share in the global Heart valve repair and replacement market.
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