- Stented Tissue Heart Valves
- Stentless Tissue Heart Valves
Heart Valves Market size valued USD 6.86 billion in 2020 and expected to reach USD 16.02 billion by 2027, at a CAGR of 11.9% during the forecast period 2021-2027. Heart valves are the medical devices which are used in the replacement of defective heart valve. Heart valves are majorly 2 types, they are biological or tissue and mechanical heart valves. Biological heart valves are made up of various tissues such as porcine, bovine and human tissues. Heart valves made from human tissues are known as homografts or allografts. The major advantage of tissue valves over mechanical valve is mechanical heart valves can cause bleeding and increase the chances of reoperations in geriatric people. Since the use of tissue heart valves in people of this age group lowers the risks of bleeding. Physicians are increasingly opting for this method as it able to reduce the use of oral anticoagulation drugs for the management of bleeding complications. Heart valves market is growing at a significant CAGR due to increase in geriatric population, and increase in the prevalence of heart valve diseases. Global heart valves market is increasing due to rise in the prevalence of cardiac disorders. The most commonly adopted strategies by industry players include new product launches with technological innovations, acquisitions & mergers, agreements, and collaborations to capture significant Heart valves market share. They acquire other companies to enhance their R&D capabilities for manufacturing innovative devices that meet consumer needs. Acquisition of other companies allows vendors access to the product portfolio of the acquired company. For instance, in December 2012, Edwards Lifesciences Corporation and Cook Biotech Incorporated, have collaborated into a technology licensing and supply agreements for the development of tissue-engineered heart valves and related cardiovascular implants.
Fastest Growing Market
Increase in demand for stent less tissue valves, implementation of MI procedures expected to fuel the growth of Heart valves market. Rising in preference for tissue heart valve replacement surgeries among the geriatric population is also boosting the growth of Heart valves market over the forecast period. However, lack of skilled professional, the risk of potential complications with tissue valves, and use of alternate products might hamper the growth of heart valves market over the forecast period. Similarly, the stringent regulatory framework for product approvals expected to dampen the growth of heart valves market.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.