PUNE, India, February 17, 2016 /PRNewswire/ --
According to a new market research report "Prosthetic Heart Valve Market by Type (Mechanical, Transcatheter, Tissue), and Geography (Americas, Europe, Asia-Pacific, Middle East & Africa) - Global Forecast to 2020", published by MarketsandMarkets, The global market was valued at USD 2.87 Billion in 2014 and is estimated to grow to USD 4.80 Billion by 2020, at a CAGR of 9.1% from 2015 to 2020.
Browse 189 market data Tables and 84 Figures spread through 147 Pages and in-depth TOC on "Prosthetic Heart Valve Market"
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The global prosthetic heart valve market report defines and segments the market globally with analysis and forecast of revenue.
The growth of the global prosthetic heart valve market can attributed to the rising aging population; increasing number of patients suffering from rheumatic heart diseases; and growing prevalence heart and vascular system conditions, such as coronary, carotid, and peripheral artery diseases and heart rhythm disturbances in the recent years.
Insurance coverage & reimbursement scenario will also influence the growth of the prosthetic heart valve market. Presently, Medicare covers aortic valve replacements for patients whose aortic heart valves are damaged. In this reimbursement, the Centers for Medicare and Medicaid Services (CMS) and the Food and Drug Administration (FDA) made a joint decision that will permit the CMS to cover transcatheter aortic valve replacement (TAVR).
The global prosthetic heart valve market was dominated by North America in 2014. This market has been segmented and forecast based on product and geography. The products included in the report are mechanical heart valve, tissue heart valve, and transcatheter heart valve. The market has also been segmented and forecast based on major geographies, such as the Americas, Europe, Asia-Pacific, and the Middle East and Africa. These major geographies have been further subsegmented into major countries.
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The market in the Americas is expected to due to the rising pool of patients suffering from rheumatic heart diseases and favorable reimbursement scenario. The European market is projected to witness growth, due to technological advancements and government support. The Asian market is anticipated to witness growth, due to the growing health awareness among masses, along with increase in the spending capacity of the population in this region. The prevalence of valvular diseases leading to damage to heart valves is significantly high in the aging population. With the introduction of new minimally invasive techniques, the demand for prosthetic heart valve to replace damaged valves is expected to increase among this population in the coming years.
This report also includes the market share, approach for arriving at the market size, new technology developments, product matrix, life cycle analysis, Porter's five forces analysis, and price analysis by product. In this report, market metrics, such as drivers, restraints, and upcoming opportunities have ben also included in the market. In addition, it presents a competitive landscape and company profiles of key players in the market including major companies, which provide prosthetic heart valve as a product.
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