The mechanical heart valve is a simulated heart valve embedded in patients experiencing significant diseases, for example, mitral regurgitation or aortic stenosis. Tissue heart valves are the natural valves collected from porcine (pig) heart valves or dairy animal’s heart sac (cow-like) scaled on a stent or utilized without a stent to displace a useless heart valve. A growing pervasiveness of vascular coronary diseases is estimated to boost development of the worldwide market for prosthetic heart valve over the estimated time frame.
The worldwide market for prosthetic heart valve is estimated to record a 12.0% CAGR in revenue terms over the assessment period 2016-2026 as well as accounting for a market value of about US$ 19.60 Billion by 2026 end.
Based on product type, the overall market is categorized majorly into transcatheter heart valves (includes transcatheter mitral valve and transcatheter aortic valve), biological/tissue heart valves (includes tissue mitral valve and tissue aortic valve) and mechanical heart valves (includes mechanical mitral valve and mechanical aortic valve). The transcatheter heart valves category is likely to reach at close to US$ 6069.1 Million through the end of 2026, recording a 13.3% CAGR over 2016-2026. The tissue heart valves category is projected to record a 12.2% CAGR over the predicted period.
Based on the end user, the worldwide market is divided into ambulatory surgery centers and hospitals. The hospital’s division was projected to account for a value of US$ 4717.2 Million by 2016 end and record a 12.2% CAGR throughout the projection period to account for a market value of US$ 14.9 Billion by 2026 end. The hospital’s division is estimated to continue leading in the worldwide market for prosthetic heart valve in valuation terms, as a result of a huge number of cardiac patients going for hospitals to go through treatment during the estimated period.
Based on region, the overall market is studied across seven major regions, namely Brazil, Latin America Excluding Brazil, North America, Eastern Europe, Western Europe, Middle East & Africa (MEA) and Asia Pacific Excluding Japan (APEJ). Western Europe and North America are expected to account for more than half the revenue share of the worldwide market for a prosthetic heart valve. North America regional market is expected to see the maximum 12.4% CAGR over the conjecture time frame. The Western Europe regional market is expected to be the second largest market to witness a 12.1% CAGR during 2016-2026.
Key Market Players
Some of the prominent companies functional in the worldwide market for prosthetic heart valve include: JenaValve Technology Inc, Jude Medical Inc., Edwards Lifesciences Corporation, Boston Scientific Corporation, Medtronic plc, SYMETIS, Abbott Laboratories, CryoLife Inc., LivaNova PLC, Colibri Heart Valve LLC, Braile Biomedica
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