2024 Prosthetic Heart Valve Devices And Equipment Market Analysis: Market Size, Key Drivers, and Segment Insights
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What is the Expected Growth Rate of the Prosthetic Heart Valve Devices And Equipment Market from 2024 to 2033?
The prosthetic heart valve devices and equipment market size is projected to grow from $5.65 billion in 2023 to $6.22 billion in 2024, with a CAGR of 10.0%. The growth is fueled by the rising prevalence of cardiovascular diseases, an aging population, chronic disease management, and clinical research.
The prosthetic heart valve devices and equipment market is projected to grow to $8.84 billion by 2028 at a CAGR of 9.2%. Growth factors include minimally invasive procedures, telehealth integration, and drug-coated devices. Trends in the market include AI in vascular medicine, robot-assisted interventions, and bioresorbable vascular scaffolds.
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What Key Factors Are Fueling the Growth of the Prosthetic Heart Valve Devices And Equipment Market?
The rising prevalence of valvular heart disease is driving the need for transcatheter aortic valve replacement (TAVR) procedures, thus boosting the prosthetic heart valve devices market. TAVR is a minimally invasive procedure used to treat aortic stenosis, a valvular heart disease affecting the aortic valve. A report from the Society of Thoracic Surgeons indicated that in 2021, TAVR procedures accounted for over 84% of aortic valve replacements in the U.S. The increasing prevalence of heart valve diseases is expected to continue driving the demand for TAVR procedures and prosthetic heart valves.
What Are the Major Segments of the Prosthetic Heart Valve Devices And Equipment Market?
1) By Product Type: Repair Products, Mitral Valve Repair Devices, Tricuspid Valve Repair Devices
2) By Type: Transcatheter Heart Valve, Tissue Heart Valve, Mechanical Heart Valve
3) By Technology: Biological Valve, Decellularized Valve
4) By Application: Hospitals, Ambulatory Surgery Centres
What New Trends Are Transforming the Prosthetic Heart Valve Devices And Equipment Market?
Regulatory bodies like the FDA and CDSCO are closely monitoring the prosthetic heart valve market. In India, manufacturers need to register with the government and obtain the necessary approvals to produce and sell prosthetic heart valve devices, which are considered high-risk devices under classification rules.
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Which Regions Are Driving Growth in the Prosthetic Heart Valve Devices And Equipment Market?
North America was the largest region in global prosthetic heart valve devices and equipment market in 2023. Western Europe was the second-largest region in prosthetic heart valve devices and equipment market. The regions covered in the prosthetic heart valve devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Prosthetic Heart Valve Devices And Equipment Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the prosthetic heart valve devices and equipment market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Prosthetic Heart Valve Devices And Equipment Market Include
1. Prosthetic Heart Valve Devices And Equipment Market Executive Summary
2. Prosthetic Heart Valve Devices And Equipment Market Segments
3. Prosthetic Heart Valve Devices And Equipment Market Size And Template Market Growth Rate
4. Key Prosthetic Heart Valve Devices And Equipment Market Trends
5. Major Prosthetic Heart Valve Devices And Equipment Market Drivers
……
25. Key Mergers And Acquisitions In The Prosthetic Heart Valve Devices And Equipment Market
26. Top Prosthetic Heart Valve Devices And Equipment Companies
27. Prosthetic Heart Valve Devices And Equipment Market Opportunities And Strategies
28. Prosthetic Heart Valve Devices And Equipment Market, Conclusions And Recommendations
29. Appendix
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