The Prosthetic Heart Valve Devices And Equipment Global Market Report 2023 by The Business Research Company, provides prosthetic heart valve devices and equipment market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Prosthetic Heart Valve Devices And Equipment Global Market Report 2023, the market size is expected to grow from $5.04 billion in 2022 to $5.5 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global prosthetic heart valve devices and equipment is expected to grow to $7.41 billion in 2027 at a CAGR of 7.7%.
The rising prevalence of valvular heart disease has driven the need for transcatheter aortic valve replacement (TAVR) procedures, thus driving the prosthetic heart valve devices and equipment market. TAVR is a minimally-invasive surgical procedure done to cure aortic stenosis which is a valvular heart disease that affects the aortic valve of the heart. Aortic stenosis affects the aortic valve by hardening it, thus not allowing blood to properly flow through it and TAVR is used to replace this defective aortic valve with a transcatheter valve.
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The prosthetic heart valve devices and equipment market is segmented:
1) By Type: Transcatheter Heart Valve, Tissue Heart Valve, Mechanical Heart Valve
2) By Application: Hospitals, Ambulatory Surgery Centres
3) By Product Type: Repair Products, Mitral Valve Repair Devices, Tricuspid Valve Repair Devices
4) By Technology: Biological Valve, Decellularized Valve
Companies in this market are increasingly preferring polymer valves over traditional mechanical and bio-prosthetic valves/tissue valves. Polymer heart valves are prosthetic heart valves made of polymeric materials and have better functioning than tissue and mechanical heart valves. Mechanical heart valves come with a lifelong requirement of using blood-thinning medication to prevent blood clotting whereas bioprosthetic heart valves come with a short life span that needs several replacements and have a risk of valve degradation. Polymeric heart valves on the other hand support better blood flow and reduce the risk of blood clotting and therefore do not have the disadvantages of tissue and mechanical valves. Therefore, various companies are focusing on the development of polymeric heart valve technologies, For instance, in July 2022, Shanghai Medics, a Shanghai-based medical technology company developed new synthetic heart valve. The new valve is developed using polymer nanomaterial and has a longer lasting life of 20 to 25 years.
The prosthetic heart valve devices and equipment market report table of contents includes:
- Executive Summary
- Prosthetic Heart Valve Devices And Equipment Market Characteristics
- Prosthetic Heart Valve Devices And Equipment Market Trends And Strategies
- Prosthetic Heart Valve Devices And Equipment Market Trends – Macro Economic Scenario
- Prosthetic Heart Valve Devices And Equipment Market Size And Growth
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- Africa Prosthetic Heart Valve Devices And Equipment Market
- Prosthetic Heart Valve Devices And Equipment Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Prosthetic Heart Valve Devices And Equipment Market
- Prosthetic Heart Valve Devices And Equipment Market Future Outlook and Potential Analysis
- Appendix
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