Market Dynamics

Increasing patient pool suffering from heart associated diseases across the globe, coupled with availability of technologically advanced surgical devices for high precision are major factors expected to drive the growth of global market. According to U.S. Department of Health & Human Services about 2.5% of the U.S. population has valvular heart disease, but it is more common in older adults. In 2017, there were 3,046 deaths due to rheumatic valvular heart disease and 24,811 deaths due to non-rheumatic valvular heart disease in the United States. In addition, developing regulatory scenario and availability of favourable reimbursement policies in developed countries are among other factors expected to support the growth of target market. In 2018, The U.S. Food and Drug Administration today expanded the approval of a heart valve to include a size small enough to be used in newborn pediatric patients to treat heart defects. Specifically, the agency approved the Masters Series Mechanical Heart Valve with Hemodynamic Plus (HP) Sewing Cuff to include the 15-mm valve size, making it the smallest mechanical heart valve approved in the world.

Major players approach towards business expansion through merger and new product approvals in order to increase the revenue share and enhance the business presence are among other factors expected to support the growth of target market.

In 2020, Edwards Lifesciences Corporation a globe enterprise focused on innovations for structural heart disease and critical care monitoring received approval for Edwards SAPIEN 3 transcatheter heart valve for the treatment of patients suffering from severe, symptomatic aortic stenosis (AS) at high risk or unable to undergo open-heart surgery from Chinese regulatory authority. This is expected to help the company to enhance the business in China and increase the revenue share.

In 2020, the company even received approval CE Mark to expand use of the Edwards SAPIEN 3 transcatheter heart valve. This is expected to help the company to enhance the business presence in European countries.

In 2020, CryoLife, Inc. a leading cardiac and vascular surgery company acquired Ascyrus Medical LLC. This acquisition is expected to help the company to enhance the product portfolio and strengthen its position in heart valve market.

In 2020, the company received CE Mark for the On-X Ascending Aortic Prosthesis (AAP) this is expected to help the company to market the product in European market and further strengthen the company position in Europe.

However, factors such as high cost of surgeries and emergence of tissue-engineered heart valve (TEHV) are expected to hamper the growth of global prosthetic heart valve market. In addition, lack of developed infrastructure in developing countries is expected to challenge the growth of target market.

High investment by major players for advancements and inclination towards introduction of innovative products are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnership and agreements between regional and international players this factor is expected to support the revenue transaction of target market.

Segment Analysis by Region

The market in North America is expected to account for major revenue share in the target market due to availability of advanced healthcare infrastructure. In addition, high government focus on development of smart healthcare system, availability of advanced infrastructure in order to carry out critical surgeries, and introduction of advanced products from major players are factors expected to support the growth of target market.

Increasing acquisition and partnership with the focus to enhance the customer base is expected to support the growth of target market.

Competitive Landscape                                                                                 

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

 Prosthetic Heart Valve Market Segment Analysis, 2019

The global market is segmented into type and end use. The type segment is bifurcated into transcatheter heart valve, tissue heart valve, and mechanical heart valve. Among the type the transcatheter heart valve segment is expected to account for major revenue share in the global market. The end use segment is divided into hospital and ASC.

The players profiled in the report are Boston Scientific Corporation, Abbott Laboratories, LivaNova PLC, CryoLife, Inc., Edwards Lifesciences Corporation, Medtronic plc., Braile Biomedica, Colibri Heart Valve, LLC, and JenaValve Technology, Inc.

Market Segmentation

Market By Type

Transcatheter Heart Valve

Tissue Heart Valve

Mechanical Heart Valve

Market By End Use

Hospital

Ambulatory Surgical Center

Market By Region

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa