Heart Valve Devices Market is Expected to Reach US$ 14.4 Billion by 2025

ALBANY, New York, June 15, 2017 /PRNewswire/ --

The heart valve devices basically increase survival rate along with improve quality of life in maximum number of the heart patients. These devices are used in the replacement of diseased or the damaged natural valves of the heart. Heart valve devices are used for the treatment of blockage in heart valve and implantation of these devices is one of the common procedure. The market for heart valve devices encompasses a variety of heart valves. The variety of heart valves available in the market are mechanical heart valves, biological heart valves, and transcatheter heart valves. Rising geriatric population induces an accelerated growth in incidence rate of cardiac and valvular diseases are the highest impact-rendering driver for this market. In addition, advances in technology that has resulted in minimally invasive procedures and improved features has also accentuated the market. However, high cost of the devices and strict regulatory approval process are considered as the major restrains for the growth of the market. The global Heart Valve Devices Market was valued at US$ 5.0 Bn in 2016 and is estimated to reach US$ 14.4 Bn in 2025 at a CAGR of 12.4% from 2017 to 2025.

The heart valve devices basically increase survival rate along with improve quality of life in maximum number of the heart patients. These devices are used in the replacement of diseased or the damaged natural valves of the heart. Heart valve devices are used for the treatment of blockage in heart valve and implantation of these devices is one of the common procedure. The market for heart valve devices encompasses a variety of heart valves. The variety of heart valves available in the market are mechanical heart valves, biological heart valves, and transcatheter heart valves. Rising geriatric population induces an accelerated growth in incidence rate of cardiac and valvular diseases are the highest impact-rendering driver for this market. In addition, advances in technology that has resulted in minimally invasive procedures and improved features has also accentuated the market. However, high cost of the devices and strict regulatory approval process are considered as the major restrains for the growth of the market.  

The heart valve devices market by type has been segmented as mechanical heart valve, biological heart valve and transcatheter aortic valve. The mechanical heart valve segment accounted for largest share of the heart valve devices market in 2016. This is due to high durability of mechanical heart valve. High prevalence of heart valve diseases among the increasing aging population across the globe has led to an increase in demand of mechanical heart valve devices as with mechanical heart valve significantly improved survival rates have been observed as compared with biological heart valve.

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By distribution channel market is categorized into hospitals, ambulatory surgical centers and others (cardiac centers, research centers, etc.). The hospitals segment accounted for major share of the global heart valve devices market in 2016. This is due to wider availability of hospitals as compared to ASC and others. In addition, Hospitals are the first choice of patients for surgical procedures for effective treatment. However, rapid increase in the number of ambulatory surgical centers for surgery are expected to boost the growth of the segment. Hence, the ambulatory surgical centers segment is expected to grow with the rapid increase in CAGR during the forecast period.

Major players operating in the global Heart Valve Devices Market includes Abbott Laboratories, Boston Scientific Corporation, CryoLife, Inc., Edward Lifesciences Corporation, Medtronic plc. , Neovasc, Inc., Sorin Group and others.  

The review presented is based on the findings of Transparency Market Research report, titled "Heart Valve Devices Market (Type - Mechanical Heart Valve, Biological Heart Valve, and Transcatheter Aortic Valve; Distribution Channel - Hospitals, Ambulatory Surgical Centers, Cardiac Centers, and Research Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025."

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