Prosthetic Heart Valve Market Segmentation and Analysis by Recent Trends, Development and Growth Factors by Regions Overview to 2020

According to the new market research report " Prosthetic Heart Valve/ Artificial Heart Valve Market by Type (Transcatheter Heart Valve, Tissue Heart Valve, and Mechanical Heart Valve), and Region (North America, Europe, Asia-Pacific, and RoW) - Global Forecast to 2022", published by MarketsandMarkets™, The prosthetic heart valves market is projected to reach USD 8.86 Billion by 2022 from USD 4.84 Billion in 2017, at a CAGR of 12.9% during the forecast period.

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The key factors driving the growth of this market include the rising geriatric population and the subsequent growth in the prevalence of HVD, regulatory approvals for new and advanced prosthetic heart valves, increasing government funding for heart valve research, rising awareness about HVD, and favorable reimbursement scenario for prosthetic heart valves.

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The Transcatheter Heart Valves Segment Is Expected to Account for the Largest Share of the Prosthetic Heart Valves Market in 2017

Based on the type of valve, the prosthetic heart valves market is segmented into transcatheter heart valves, tissue heart valves, and mechanical heart valves. The transcatheter heart valves segment is expected to command the largest market share in 2017. The large share of this segment can be attributed to factors such as the rising prevalence of aortic stenosis, increasing pool of patients owing to approvals for extended valve indications, and technological advancements. The preference for transcatheter heart valves is expected to see high growth in the future as they are implanted through a minimally invasive procedure while the other valve types require open-heart surgery.

North America to Command the Largest Market Share in 2017

Based on region, the prosthetic heart valves market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. In 2017, North America is expected to account for the largest share of the global market. Factors such as the rapid growth in the aging population and prevalence of valvular heart diseases, favorable reimbursement scenario, and rising product approvals for heart valves are contributing to the growth of the North American prosthetic heart valves market are driving the growth of the North American prosthetic heart valves market.

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Medtronic plc (Ireland), Edwards Lifesciences Corporation (U.S.), Boston Scientific Corporation (U.S.), St. Jude Medical, Inc. (an Abbott Laboratories Company) (U.S.), LivaNova PLC (U.K.), Symetis SA (Switzerland), Jenavalve Technology, Inc. (Germany), CryoLife, Inc. (U.S.), TTK Healthcare Limited (India), Colibri Heart Valve, LLC (U.S.), Lepu Medical Technology Co., Ltd. (China), and Braile Biomédica (Brazil) are the prominent players in the global prosthetic heart valves market.

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Prosthetic Heart Valve Market Industry Analysis, Size, Share, Growth, Trends and Forecast to 2022

The prosthetic heart valve market is projected to reach USD 8.86 Billion by 2022 from USD 4.84 Billion in 2017, at a CAGR of 12.9%. Market growth can be attributed to the rising geriatric population and the subsequent increase in the prevalence of HVD, regulatory approvals for new and advanced prosthetic heart valves, increasing government funding for heart valve research, rising awareness about HVD, and favorable reimbursement scenario for prosthetic heart valves.

Years considered for this report

2016 – Base Year
2017 – Estimated Year
2022 – Projected Year

The objectives for this study are as follows:

• To define, describe, and forecast the prosthetic heart valve market on the basis of type of valve and region
• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
• To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast revenue of the market segments with respect to four main regional segments, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
• To profile the key players and comprehensively analyze their market shares and core competencies in terms of market development and growth strategies
• To track and analyze competitive developments such as marketing and promotional activities, approvals, product launches, acquisitions, agreements, collaborations, expansions, certifications, and reimbursement approvals in the prosthetic heart valves market

Research Methodology

Top-down and bottom-up approaches were used to estimate and validate the size of the prosthetic heart valve market and to estimate the size of various other dependent submarkets. The overall market size was used in the top-down approach to estimate the sizes of other individual markets (mentioned in the market segmentation by type of valve and region) through percentage splits from secondary and primary research. For the calculation of each type of specific market segment, the most appropriate immediate parent market size was used for implementing the top-down approach. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained. The bottom-up approach was employed to arrive at the overall size of the market from the sales of prosthetic heart valves in the respective four regions. Various secondary sources such as directories, industry journals, and databases have been used to identify and collect information useful for this extensive commercial study of the prosthetic heart valve market. Primary sources such as experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess prospects of the prosthetic heart valve market. The breakdown of primaries is shown in the figure below:

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The key players in the artificial heart valve market are Medtronic plc (Ireland), Edwards Lifesciences Corporation (U.S.), Boston Scientific Corporation (U.S.), St. Jude Medical, Inc. (an Abbott Laboratories Company) (U.S.), LivaNova PLC (U.K.), Symetis SA (Switzerland), Jenavalve Technology, Inc. (Germany), CryoLife, Inc. (U.S.), TTK Healthcare Limited (India), Colibri Heart Valve, LLC (U.S.), Lepu Medical Technology Co., Ltd. (China), and Braile Biomédica (Brazil).

Target Audience for this Report:

• Prosthetic Heart Valve Manufacturing Companies
• Suppliers and Distributors of Prosthetic Heart Valves
• Healthcare Service Providers
• Teaching Hospitals and Academic Medical Centers (AMCs)
• Health Insurance Players
• Research and Consulting Firms
• Medical Research Institutes
• Audiology Centers
• Healthcare Institutions/Providers (Hospitals, Medical Institutes, and Governing Bodies)
• Venture Capitalists
• Community Centers
• Regulatory Authorities

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Rising Prevalence of Heart Valve Disease is One of the Major Factors Driving the Growth of the Prosthetic Heart Valves Market

The global prosthetic heart valves market covers the artificial heart valves which are implanted in the hearts of patients suffering from heart valve disease (HVD). 

"This market is expected to reach USD 8.86 billion by 2022 from USD 4.84 billion in 2017, at a CAGR of 12.9% during the forecast period."

Globally, the prosthetic heart valves market is witnessing growth due to factors such as rising geriatric population and the subsequent growth in the prevalence of heart valve disease (HVD), regulatory approvals for new and advanced prosthetic heart valves, increasing government funding for heart valve research, rising awareness about HVD, and favorable reimbursement scenario for prosthetic heart valves. 

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On the other hand, the high cost of transcatheter aortic valve replacement (TAVR) procedures and the availability of alternative methods for treating HVD are expected to restrain market growth to a certain extent.

Based on the type of valves, the prosthetic heart valves market is segmented into transcatheter heart valves, tissue heart valves, and mechanical heart valves. The transcatheter heart valves segment is expected to continue to dominate the global prosthetic heart valves market in 2022. The large share of this segment can be attributed to the rising prevalence of aortic stenosis, increasing pool of patients owing to approvals for extended valve indications, and technological advancements.

In the report, the global prosthetic heart valves market has been analyzed with respect to four major geographies—North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to command the largest share of 55.20% of the global prosthetic heart valves market in 2017 and is projected to register the highest CAGR of 16.1% from 2017 to 2022. Factors such as the rapid growth in the aging population and prevalence of valvular heart diseases, favorable reimbursement scenario, and rising product approvals for heart valves are supporting the growth of the North American prosthetic heart valves market.

Given the immense opportunities in developing transcatheter heart valves, market leaders and emerging players are increasing their focus in this market segment in order to increase their revenues.

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