Prosthetic heart valve refers to acardiac surgery to replace an abnormal heart valve with an artificial heart valve. Replacement of diseased valves with prosthetic heart valves reducesthe morbidity and mortality associated with cardiac valve disorders.Technological advancements and increasing prevalence of heart valve diseases are some of the major factors that are driving the prosthetic heart valves market. Based on product, the prosthetic heart valves market can be segmented into mechanical heart valves, transcatheter heart valves, and tissue heart valves or bio-prosthetic valves.Tissue heart valves can be further segmented into stented tissue valve, stentless tissue valve, tissue-engineered valves, and homograft and heterograft valves.
Mechanical heart valves include aortic valves and mechanical mitral valves. Tissue heart valves include tissue aortic valves and tissue mitral valves. The tissue heart valves segment is the fastest-growing segment in the prosthetic heart valves market. Some types of heart valve disorders are valvular stenosis and valvular regurgitation. Conditions associated with heart valve disorders are congenital defects and acquired disorders. Some of the technologies for prosthetic heart valves aretranscatheter valves, anti-calcification technology, suture-less valves, polymers and carbon-based technologies . Mechanical heart valves are used inpercutaneous implantation and thoracotomy implantation. Tissue heart valves are used in homografts and heterografts.
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Noninvasive heart valves are used inexchangeable heart valves and expandable heart valves .
North Americahas the largest market for prosthetic heart valves due totechnological advancements, increasing heart valve disorders, government funding, improved healthcare infrastructure, and rise in healthcare expenditure in this region . The North America market for prosthetic heart valves is followed by Europe. Asia is expected to witness high growth rates in the prosthetic heart valves market in the next few years due to increasing incidences of various chronic diseases, growing disposable income, and improving healthcare infrastructure in this region.
Technological advancements, increasing aging population, and rise in prevalence of heart valve disorders are some of the major factors that are expected to drive growth of theprosthetic heart valves market. In addition, growing healthcare expenditure, rise in the number of heart surgeries, and increasing awareness regarding the diagnosis and availability of treatments for heart valve disorders are expected to drive the market for prosthetic heart valves. However, strict government regulations, lack of skilled professionals, high cost of development , and reimbursement issues are some of the major factors restraining growth of the global prosthetic heart valves market.
Growing population and economies in the developing countries such as India and China are expected to drive growth of the prosthetic heart valves market in Asia. In addition, introduction of innovative products with technological advancements, increasing demand for minimally-invasive devices, and rise in incidences of cardiac valve disorders are expected to create opportunities for the global prosthetic heart valves market. Increasing number of mergers and acquisitions, rise in the number of collaborations and partnerships, and product launches are some of the latest trends in the global prosthetic heart valves market.
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Some of the major companies operating in the global prosthetic heart valves market are :
- Edwards Lifesciences
- Abbott Laboratories
- ON-X LIFE TECHNOLOGIESINC.
- Jude Medica
- Sorin Group
- Braile Biomedica Ltd.