Sarasota, FL, May 05, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Prosthetic Heart Valve Market by Type (Transcatheter, Tissue and Mechanical): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021”. According to the report, global prosthetic heart valve market was valued at USD 3,138.4 million in 2015, is expected to reach USD 5,302.1 million in 2021 and is anticipated to grow at a CAGR of 9.10% between 2016 and 2021.
Heart valves play an important role in proper and one-directional blood flow. The heart consists of four main types of valves that are tricuspid, pulmonary, mitral, and aortic valves. Prosthetic heart valves are artificial valves implanted in the patients suffering from the valvular heart disorder. There are 3 types of prosthetic heart valve such as mechanical heart valve, tissue heart valve, and transcatheter heart valve. Previously, mechanical heart valves were used extensively; however, they lack anticoagulation property.
Browse through 18 Market Tables and 13 Figures spread through 110 Pages and in-depth TOC on “Global Prosthetic Heart Valve Market: By Type, Application, Geography, Industry Analysis, Size, Share, Segment and Forecast 2015-2021”.
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The surging incidence of heart disorders drives the prosthetic heart valve market. Increasing technological advancement and rising aging population fuel the growth of the market. Factors such as intense completion among the key player result into high R&D for innovated products and government funds and support for improvement of healthcare sector foster the demand for prosthetic valve market. However, the high cost of valve replacement therapy and regulations posed by the government in particular regions for tissue valve may hamper the growth of this market. Nevertheless, growing demand for minimal invasion techniques for heart valve replacement along with untapped opportunities in the emerging economies is likely to open new avenues for the prosthetic heart valve market in the near future.
Tissue valve held the largest market share in 2015. Types of tissue heart valves include stented tissue heart valves and stentless tissue heart valves. Tissue valve is obtained from the pig and cow and further neutralized and treated before implanting in the human heart. The mechanical heart valve is made up of pyrolytic carbon. Transcatheter heart valve replacement is the advanced technique which either repairs the damaged valve by minimal invasion or replaces it using transcatheter heart valve.
Browse the full "Prosthetic Heart Valve Market by Type (Transcatheter, Tissue, and Mechanical): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/prosthetic-heart-valve-market
North America dominated the prosthetic heart valve market in 2015 owing to high technological advancement, and rising prevalence of heart disorders. Factors contributing to the growth of prosthetic heart valve market are improved and expanding healthcare sector, and the presence of major players in this region. High R&D expenditure from the key players for the innovated products triggers the growth of the market. Moreover, increasing the incidence of heart disorders in U.S with majority population shifting towards heart valve replacement therapy fuels the prosthetic heart valve market in this region. The Recent launch of transcatheter heart valves in U.S. will lead to further sizeable growth in the region.
Asia-Pacific is the fastest growing market for prosthetic heart valve due to rising disposable income along with escalating demand for valve replacement, particularly in India and China. In India, around 10,000 people undergo valve replacement therapy every year. Rising disposable income, growing awareness for prosthetic valve stimulate the growth of the market in this region. Support from the government to improve the healthcare sector drives the prosthetic heart valve market in this region. Transcatheter valve replacement is new technique introduced in Japan and is gaining huge traction. This is expected to flourish the market in near future. However, tissue valve is likely to experience sluggish growth, particularly in India due to stringent rules and regulations.
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Latin America is anticipated to experience sustainable growth in the coming years owing to unexploited market and rising healthcare sector. The Middle East and Africa is estimated to grow at a moderate pace due to growing awareness.
The presence of a large number of players for the prosthetic heart valve creates intense competition. The companies adopt strategies such as product innovation and expansion. Some of the key players in the prosthetic heart valve market are Colibri Heart Valve, LLC, Cytograft Tissue Engineering, Inc. (CTE), Direct Flow Medical, Inc., Edwards Lifesciences LLC, Heart Leaflet Technologies (HLT), Perouse Medical, St. Jude Medical Inc., and Sorin Group.
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This report segments the prosthetic heart valve market as follows:
Prosthetic Heart Valve Market: Type Segment Analysis
- Transcatheter valve
- Tissue valve
- Mechanical valve
Prosthetic Heart Valve Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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