Global Prosthetic Heart Valve Market is Growing at a Significant Rate in the Forecast Period 2017-2025

According to Data Bridge Market Research new Market report, global prosthetic heart valve market accounted to USD 3,874 billion in 2017 growing at a CAGR of 9.10% during the forecast period of 2018 to 2025.

Global Prosthetic Heart Valve Market

Global Prosthetic Heart Valve Market

Prosthetic heart valve is a type of cardiac surgery in which a diseased heart valve is replaced by an artificial heart valve. Replacement of the diseased valves with prosthetic valves reduces the morbidity and mortality related with cardiac valve disorders. Diseases related to heart valve disorders are mostly either congenital defect or acquire disorders. Some of the technology for prosthetic heart valves is polymers,  suture-less valves anti-calcification technology, and carbon-based technologies among others.

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Segmentation: Global Prosthetic Heart Valve Market

Global prosthetic heart valve market is segmented on the basis of type and geography.

Type (Trans-catheter Valve, Tissue Heart Valves, Mechanical Valve), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

FACTORS DRIVING GROWTH IN PROSTHETIC HEART VALVE MARKET

Rising Geriatric Population

According to United Nations Department of Economic and Social Affairs/Population Division; in 2017, estimated population of people with age 60 or above was 962 million, which means around 13 per cent of the population. This age bracket or group is growing at a rate of 3 per cent every year. Presently, Europe is leading the other regions in terms of population consisting of this age group. This brisk speed of ageing is expected to carry on in other regions as well, which projects that by the end of 2050 excluding Africa all regions of the world would have more than a quarter share of their total population at an age of 60 years and above. The population of this age group is projected to reach around 1.40 billion in 2030 and 2.10 billion in 2050, and could ultimately rise up to 3.10 billion in 2100. Population aged more than 65 years are more prone to heart attacks and other heart related defects due to various reasons.

Table 1: REGIONAL GERIATRIC POPULATION INCREASE FROM 2017 TO 2050

Region

2017(in percentage)

2050(estimated, in percentage)

Latin America and the Caribbean

12

25

Asia

12

24

Northern America

22

28

Africa

5

9

Key Market Competitors: Global Prosthetic Heart Valve Market

Few of the major competitors currently working in the prosthetic heart valve market are Abbott, Medtronic, Medical Technology Est., Boston Scientific Corporation, Micro Interventional Devices, Inc., Medical Circle, Edwards Lifesciences Corporation, LivaNova PLC., JenaValve Technology, Inc., Cryolife, Inc.,TTK HealthCare, JenaValve Technology, Inc., LivaNova PLC, Lepu Medical Technology (Beijing) Co., Ltd.., Braile Biomédica, SYMETIS, Medtronic, Commonwealth Edison Company, Labcor Laboratórios Ltda., JenaValve, LEPU MEDICAL TECHNOLOGY, Braile Biomédica, Colibri Heart Valve, Cardiac Dimensions Inc, Cardiosolutions, Inc., Leman Cardiovascular, Medtentia AB, MitralSolutions, Inc, On-X Life Technologies, Inc, Sadra Medical, Inc., Sorin S.p.A., St. Jude Medical, Inc. and ValveXchange, Inc.

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