Global Transcatheter Heart Valve Market
Transcatheter heart valves (THV) are used to replace the heart valves with a prosthetic valve for treatment of severe aortic stenosis and mitral regurgitation. These heart valve diseases can be congenital or acquired later in life due to age related life style changes and may be other underlying diseases. If these are not treated can cause heart failure, stroke, blood clots, or death due to sudden cardiac arrest.
According to WHO, by 2050, the world’s population aged 60 years and older is expected to total 2 billion, up from 900 million in 2015, who are more susceptible to the valve heart disease. The prime driver for the transcatheter heart valves market is rising demand for less invasive procedure for high-risk patients such as patients having multiple chronic diseases, growing prevalence of heart valve disorders. Moreover, increased incidences of heart diseases and technological advances in transcatheter heart valves (THV) driving the market. However, high costs of transcatheter heart valves, associated risks in implantation of transcatheter, slipping of valves, and misplacement of catheters are decreasing the acceptance in patients and affecting the market growth negatively.
Transcatheter heart valve market segmented on the basis of product type, by approach, and end-user
By product type, Global Market segmented into
- Trans Catheter Aortic Valve Replacement
- Trans Catheter Mitral Valve Repair
By surgical procedure type, Global Market segmented into
- Transfemoral Approach
- Transapical Approach
- Transaortic Approach
By end-user, Global Market segmented into
- Ambulatory Surgical Centres
- Cardiac Catheterization Laboratory
Transcatheter heart valve market is anticipated to grow at significant CAGR over the forecast period. Market players are focusing on investments in R&D to develop and launch various new and technologically advanced devices for making heart valve procedures safer and more effective and strengthening their positions in market. For instance, transcatheter aortic valve replacement or trans catheter aortic valve implantation has become novel procedures for patients who are considered high risk for standard valve replacement therapy. Apart from this, companies also focusing on mergers and acquisitions to enhance their market share. For instance in 2016, Edwards Lifesciences Corporation agreed to acquire Valtech Cardio Ltd., for trans catheter repair of mitral and tricuspid valves.
Geographically transcatheter heart valve market segmented into following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America market is dominating among all regions. Over five million people in U.S. are diagnosed with heart valve disease each year. Europe market for transcatheter heart valves expected to grow at significant rate due to technological advancements, increase in awareness and acceptance of novel replacement devices for cardiac disorders. Emerging economies of Asia-Pacific region such as China and India expected to show significant growth in the market due to medical tourism, increase in patients with heart diseases and significant changing in lifestyle.
Some of the players in Global market include Edwards Lifesciences Corporation (U.S.), Boston Scientific Corporation (U.S.), Abbott Laboratories (U.S.), and Medtronic (U.S) to name a few
- In June 2017, U.S. FDA approved Edwards Sapien 3 transcatheter heart valve (by Edwards Lifesciences Corporation), a transcatheter heart valve replacement device
- The report provides granular level information about the market size, regional market share and forecast from 2017-2023
- The report covers in-detail insights about the competitor’s overview, key findings and their key strategies
- The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
- The report tracks recent innovations, key developments and startup’s details that are working in the industry
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario