The launch of various advanced and innovative heart repair and replacement devices will boost the sales
Arizton’s recent market research report on the global heart valve repair and replacement devices market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by product (repair devices and replacement devices), by surgery type (transcatheter surgery, open heart surgery, and MI heart surgery), by end-users (hospitals and ASCs), by geography (APAC, Europe, North America, Latin America, and MEA), and offers detailed competitive analysis.
The global heart valve repair and replacement devices market is projected to reach values of more than $12 billion by 2023, growing at a CAGR of around 17% during 2017-2023.
The increasing number of various awareness initiatives and campaigns to create awareness among the public and patients about the benefits of these procedures are driving the growth of the global heart valve repair and replacement devices market. The availability of various advanced minimally invasive techniques for treating heart valve diseases will create opportunities for leading manufacturers in the global market.
The top 3 drivers and trends augmenting the growth of the global heart valve repair and replacement devices market are discussed below:
Growing Demand for Transcatheter Repair and Replacement procedures
The introduction of transcatheter heart surgery that is highly advanced than other MI and open surgical techniques is driving the growth of the global heart valve repair and replacement devices market. Transcatheter treatments are associated with fewer complications, high success rate, and a faster recovery rate than other techniques available in the market. This innovative procedure is used for a wide range of heart diseases such as aortic stenosis, mitral regurgitation, pulmonary stenosis, and tricuspid valve diseases. The growing awareness among patients, favorable reimbursement coverage, and an increase in the prevalence of high-risk patients are some of the factors attributing to the growth of the global heart valve repair and replacement devices market. The clinical benefits and success rate of transcatheter procedures is encouraging healthcare professionals to recommend this treatment for high-risk patients in the global market. Regions such as the US, Germany, the UK, France, and Japan are the fastest adopters of this procedure in the market. Transcatheter aortic valve replacement (TAVR) is one of most common procedures in the global heart valve repair and replacement devices market.
Rapid Advances and Improvements in Valve Repair and Replacement Devices and Technologies
The leading vendors are investing in technological advances and improvements that are resulting in breakthrough evolutions in the global heart valve repair and replacement devices market. The launch of various advanced and innovative heart repair and replacement devices will boost the sales in the global market. The manufacturers are re-inventing product design, material usage, and prosthetic valve delivery technologies to increase safety and efficacy of these procedures and offer better post-surgical outcomes in the global market. Technological advancements have led to tissue and transcatheter treatments that are revolutionizing and enhancing the outcomes of procedures in the global heart valve repair and replacement devices. The vendors are launching transcatheter-based devices to enhance biocompatibility and quality of life of patients in the global market. Various technologically advanced devices are gaining regulatory approval after conducting successful clinical trial processes in the market. Players such as Edwards Lifesciences, Abbott, Medtronic, and LivaNova have launched a wide range of devices that include annuloplasty rings, tissue valves, transcatheter heart valves, mechanical heart valves, and advanced delivery systems. The launch of devices that focuses on valve retrievability and repositioning will transform the global heart valve repair and replacement devices market.
Advent of Transcatheter Mitral Valve Replacement Devices
The emergence of transcatheter mitral valve replacement procedure is expected to revolutionize the global heart valve repair and replacement devices market. With the availability of favorable clinical evidence and technological improvements, this procedure is expected to gain immense popularity in the global market over the next few years. Transcatheter MVR is expected to become the next-big-thing in interventional structural heart technology in the global heart valve repair and replacement devices market. The leading medical companies are conducting many clinical studies to demonstrate the safety and efficacy of transcatheter MVR and to gain regulatory approvals in the market. This innovative procedure is evolving into an alternative treatment option for high-risk patients in the global market.
The leading vendors in the global heart valve repair and replacement devices market are Edwards Lifesciences, Abbott, LivaNova, Medtronic, and Boston Scientific.
The complete overview of the latest market research report on global heart valve repair and replacement devices market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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