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The prosthetic heart valve devices and equipment market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 8%, as per The Business Research Company’s market report!

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The Prosthetic Heart Valve Devices And Equipment Market Size In 2022 And Forecast
The global prosthetic heart valve devices and equipment market grew from $4.47 billion in 2021 to $5.03 billion in 2022 at a compound annual growth rate (CAGR) of 12.5%. 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The prosthetic heart valve devices and equipment market is expected to grow to $6.86 billion in 2026 at a CAGR of 8.1%.

The prosthetic heart valve devices and equipment market consist of sales of prosthetic heart valve devices and equipment.

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Rise In The Prevalence Of Valvular Heart Disease Is Driving The Growth Of The Prosthetic Heart Valve Devices And Equipment Market
According to a report from The Society of Thoracic Surgeons (STS)/American College of Cardiology (ACC) TVT Registry, volumes have grown every year. In 2019 TAVR passed all forms of surgical aortic valve replacement (SAVR) for the initial time. According to the U.S. Food and Drug Administration (FDA) approval of TAVR for low-risk patients, the annual size of TAVR has increased every year and in 2019, TAVR volume (72,991) passed all forms of SAVR (57,626). As the rate of occurrence of valvular heart diseases rises, the number of TAVR procedures done can be expected to increase which also increases the demand for transcatheter valves, thus driving the market going forward.

Competitive Landscape And The Regional Analysis Of The Prosthetic Heart Valve Devices And Equipment Market
Major players in the prosthetic heart valve devices and equipment market are Boston Scientific, Edward life sciences, Medtronic, Livanova, Abbott, Jenavalve technology, Lepu medical, Cryolife, Neovasc Inc, and St. Jude medical.

Additionally, as per TBRC’s research – North America was the largest region in the prosthetic heart valve devices and equipment market in 2021 holding the largest market share.

The Prosthetic Heart Valve Devices And Equipment Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the prosthetic heart valve devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the prosthetic heart valve devices and equipment market.

Preferring Polymer Valves Over Traditional Mechanical And Bio-Prosthetic Valves/Tissue Valves – A Key Trend In The Prosthetic Heart Valve Devices And Equipment Market
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.

Prosthetic Heart Valve Devices And Equipment Market Segmentation By The Business Research Company

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

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