Transcatheter heart valves are widely used in the prosthetic heart surgeries as these are implanted through a minimally invasive procedure that contributes to the growth of the global prosthetic heart valves market. There is a significant rise witnessed in the adoption of minimally invasive surgeries, which is supporting the use of new minimally invasive technology by considering its high efficacy rate and safety associated with the device. For instance, the demand for TAVR (Transcatheter aortic valve replacement) is significantly increasing, as it enables to repair the valve without removing the damaged and old valve. TAVR device was approved for the patients that are critically suffering from symptomatic aortic stenosis and are at high or immediate risk for standard valve replacement surgery.
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Increasing preference towards minimally invasive procedure provide ample opportunity to the prosthetic heart valve market. According to the American Heart Association, a patient’s experience with this procedure may be similar to the treatment of balloon or even an angiogram procedure regarding recovery and downtime and it needs a shorter hospital stay. Due to such benefits, the growth in the use of TAVR is observed in recent years. According to the American College of Cardiology, in the US, approximately one in five people who are undergoing surgical aortic valve replacement are estimated to be at immediate risk. Therefore, the high-risk and immediate patients are considered on the top among all patients to require aortic valve replacement, which in turn, is encouraging the adoption of TAVR.
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Advancement in heart valve replacement
Technological advancement in the heart valve replacement surgeries is augmenting the growth of the global prosthetic heart valve market. Various companies such as Edwards Lifesciences Corp., Boston Scientific Corp., Abbott Laboratories Inc., and Medtronic PLC provides advanced heart valves and received approval for commercialization. For instance, Abbott’s Masters HP 15mm rotatable mechanical heart valve received an FDA approval in March 2018. This mechanical heart valve is one of the smallest heart valves as it can be utilized for the treatment of babies and toddlers in need of a mitral or aortic valve replacement. Therefore, increasing heart valve-related diseases in small babies are driving the demand for mechanical heart valves, which in turn, contributes to the market growth.
Substantial opportunity in emerging economies
The global prosthetic heart valve market is estimated to witness significant growth opportunity in emerging economies. Significant growth in healthcare facilities related to prosthetic heart valves products are observed in emerging economies, such as China, India, and Brazil. Various factors such as increasing incidences of heart valve disorder, growing number of surgeries, and surge in Laboratories diseases such as stroke and others are raising the demand for an advanced mechanical heart valve. Rising medical tourism and the aging population are estimated to support market growth in the emerging market. The growing potential in these emerging markets is attracting market players to serve their healthcare organizations that propel market growth.
Global Prosthetic Heart Valves Market- Segmentation
By Type
- Mechanical Heart Valves
- Biological/Tissue Heart Valves
- Transcatheter Mitral Heart Valves
By End-User
- Hospitals
- Ambulatory Centers
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