The Cardiac
Valve Market is expected to reach USD 6,800 Million by 2030
at 10.80% CAGR during the forecast period 2022-2030.
The growing prevalence of cardiovascular conditions in North America and
Europe is likely to be the major driver for the global cardiac valve market
over the forecast period. Growing adoption of smoking and drinking has led to
growing prevalence of cardiovascular conditions in the developed economies in
Europe and North America. Other factors such as the widespread adoption of
sedentary lifestyles and desk jobs have also led to a growing prevalence of
cardiac diseases. This has driven the demand for both alternative heart valves
as well as heart valve repair procedures. Cardiac valves perform the crucial
function of ensuring the smooth flow of blood in the heart and are thus vital
to proper functioning of the cardiovascular system. The growing incidence of
valve damage has led to a growing demand from the global cardiac valve market.
Growing technological innovation to produce cardiac valve replacements
with materials that can easily blend into the surrounding cardiac muscle
without disturbing the biological balance is likely to be a major driver for
the global cardiac valves market over the forecast period. Due to the vital
importance of cardiac valves in the functioning of the cardiovascular system
and thus the sustenance of the whole body, no expenses have been spared in attempting
to come up with the best options for cardiac valve replacement. Cardiac valve
repair procedures have also become significantly more precise and effective
over the years thanks to the use of modern, advanced machinery and increasing
training. This is likely to remain a major driver for the cardiac valve market
over the forecast period, as the market is home to significant innovation
channels that could decide the market’s trajectory over the forecast period.
Major Key
Players:
Leading Cardiac Valve Market Players are Medtronic, Boston
Scientific Corporation, LivaNova plc, Jenavalve Technology Inc., TTK
HealthCare, Lepu Medical Technology Co. Ltd., Braile Biomedica, Colibri Heart
Valve LLC, CryoLife Inc., Symetis SA, St. Jude Medical Inc., and Edwards
Lifesciences Corporation.
Segment Analysis
The global cardiac valve market is segmented on the
basis of type, disease, treatment, end user, and region.
On the basis of type, the global cardiac valve
market is segmented into trans-catheter heart valve, tissue heart valve,
mechanical heart valve, and others.
On the basis of disease, the market is segmented
into aortic valve replacement, heart valve disease, mitral valve stenosis, and
others.
On the basis of treatment, the cardiac valve market
is segmented into valve replacement, valve repair, and others. The valve repair
segment holds the dominant share in the global cardiac valve market in 2017 of
45% and is likely to remain the leading revenue generator for the global
cardiac valve market over the forecast period.
On the basis of end use, the cardiac valve market
is segmented into cardiac research institutes, hospital & clinics, and
others.
Regional Analysis
The global cardiac valve market is segmented into the Americas, Europe,
Asia Pacific, and the Middle East and Africa.
The Americas segment dominates the global cardiac valve market and is
led by the North America regional market due to the strong presence of advanced
medical research efforts in the U.S. and Canada. The high disposable income of
geriatric consumers in North America is also likely to be a major driver for
the global cardiac valve market over the forecast period thanks to the higher
need among geriatrics for cardiac valve repair and replacement procedures than
in other demographics.
The increasing healthcare expenditure in Europe and the presence of
advanced medical infrastructure are the key drivers for the cardiac valve
market in Europe. The market in Asia Pacific is likely to be driven by the
growing prevalence of cardiac diseases and increasing adoption of Western
lifestyles, while the Middle East and Africa market is expected to exhibit the
lowest growth prospects over the forecast period due to the low income of
families in the region and the absence of advanced medical facilities.
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