Market research covered in this Heart Valve Devices Market report helps the management of a firm in planning by providing accurate and up-to-date information about the consumer’s demands, their changing tastes, attitudes, preferences, buying intentions, etc. This research aids in correlative relationships between the product brand and consumers’ needs and preferences. Additionally, this report brings into light key market dynamics of the sector. The competitive landscape section of the report gives a clear insight into the market share analysis of key industry players.
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The company profiles of all the major market players and brands that are dominating the Heart Valve Devices Market with moves like product launches, joint ventures, merges, and accusations which in turn are affecting the sales, import, export, revenue, and CAGR values have been cited in the report. The study consists of a market attractiveness analysis, wherein each segment is benchmarked based on its market size, growth rate, and general attractiveness.
The research further covers segments such as product type, market share, availability on-premises, and end-users type, and availability in geographical regions such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. The dedicated section on the opportunities and challenges ahead of Heart Valve Devices Market participants is a valuable addition to this report. The section is capable of improving business knowledge about the latest innovations and needed improvisation to keep the market position intact with time in the forecast period 2023- 2032.
The global heart valve devices market is likely to be valued at US$ 11.16 Billion in FY 2022, up from US$ 9.85 Billion in 2021. During the past year, the industry registered a Y-o-Y increase worth 13.3%. From 2022 to 2032, heart valve devices sales are poised to flourish at a CAGR of 13% to reach a value of US$ 37.5 Billion by the end of 2032.
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Key Takeaways of Global Heart Valve Devices Market Study:
- By type, transcatheter heart valves segment demonstrates promising growth. New product launches and increasing demand for minimally invasive procedures are anticipated to leverage the segment’s growth. More than 40% of the global heart valve devices market shall be held by transcatheter valves.
- Biological heart valves shall surge in popularity, attributed to increased usage among adults below the age of 60. Moreover, biological valves prevent blood clotting, thus eradicating the need to take anti-coagulant medications. The segment shall capture nearly one-third of the global heart valve devices market.
- By end-use, hospitals shall dominate the global heart valve devices market, comprising more than 70% of the overall market share. Growth of this segment can be attributed to patients’ first choice of place for surgery. In addition, hospitals also provide effective post-surgical care and monitoring.
- North America shall remain in the forefront of growth in the global heart devices market, accounting for more than two-fifths of the overall market share. Increasing FDA approvals of technologically advanced transcatheter aortic valves has expanded revenues of key players, thus augmenting market growth. Anticipated CAGR for this region is 13.7% throughout the forecast period.
- Asia-Pacific shows healthy growth prospects, motivated by increased investment in heart devices by key manufactures and improved healthcare infrastructure. Majority of the growth is driven by mechanical heart devices due to their affordability and increased lifespan of patients. The region is set to expand at a CAGR of 14.4% during the forecast period.
“Minimally invasive surgical procedures, such as transcatheter aortic valve replacement (TAVR), are gaining significant traction since the past few years. Increasing demand for such procedures is stimulating key manufacturers to launch appropriate devices, thus proliferating the demand for heart valve devices,” concludes a Fact.MR analyst.
New Product Ventures a Forte of Key Market Players:
The global heart valve devices is consolidated, with three key players, Edward Scientific Corporation, Medtronic and Abbott Laboratories comprising more than half of the total market. Other players such as Boston Scientific Corporation, CryoLife Inc. and JenaValve Technology, Inc. also have considerable market presence.
Out of these, Edward Scientific Corporation is the leader in the global heart valve devices market. Through a three-pronged approach which is based on patient focused care, addressing unmet structural heart disease patient needs and innovation; the company expands its operations. Some of the products manufactured by Edward Scientific include the SAPIEN Transcatheter Heart Valve and the Magna Ease Aortic/Mitral Valve.
Likewise, Abbott Laboratories product pipeline in the cardiovascular business segment consists of transcatheter aortic heart valve system, left arterial appendage occlude and pacemakers, among others. Its structural heart products segment include the MitraClip Transcatheter Mitral Valve Repair.
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Global Heart Valve Devices: Market Segmentation
Fact.MR has studied the global heart valve devices market with detailed segmentation on the basis of Type, End-user and key regions.
- By Type :
- Mechanical Heart Valves:
- Aortic Valve
- Mitral Valve
- Biological Heart Valve:
- Aortic Valve
- Mitral Valve
- Pulmonary Valve
- Tricuspid Valve
- Transcatheter Valves:
- Aortic Valve
- Mitral Valve
- Pulmonary Valve
- Mechanical Heart Valves:
- By End-user :
- Hospitals
- Ambulatory Surgical Centers
- By Key Regions :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Report Benefits & Key Questions Answered
- Heart Valve Devices Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Heart Valve Devices Historical volume analysis: The report provides a comparison of Heart Valve Devices ‘s historical sales and projected sales performance for 2021-2031.
- Heart Valve Devices Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Heart Valve Devices It carefully gauges the impact of changing healthcare needs of key demographics globally
- Heart Valve Devices Consumption by demographics: The report investigates consumer behavior affecting Heart Valve Devices demand outlook for the assessment period. Effect of their keenness for digital trends on Heart Valve Devices market is carefully analyzed
- Post COVID consumer spending on Heart Valve Devices : Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Heart Valve Devices market growth.
More Valuable Insights on Heart Valve Devices Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Heart Valve Devices , Sales and Demand of Heart Valve Devices , analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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