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Favorable reimbursement policies for prosthetic heart valve is driving the growth of Prosthetic Heart Valve

HYDERABAD, TELANGANA, INDIA, February 14, 2023 /EINPresswire.com/ -- The Prosthetic Heart Valve Market size is forecast to reach $7.61 billion by 2025, growing at a CAGR of 9.4% during the forecast period 2020-2025. A prosthetic heart valve is a one-way valve implanted into the heart of a patient to replace a dysfunctional native heart valve. In practice, an ideal valve substitute does not exist, and each of the currently available prosthetic valves has inherent limitations. Three basic types of mechanical heart valve design exist, they are bileaflet, mono leaflet, and caged ball valves. The left-sided valves, the aortic valve, and the mitral valve have a higher predisposition to disease compared to their right-sided counterparts. The growing geriatric population, increasing prevalence of heart valve disease (HVD), regulatory approvals for advanced new procedures, increasing government funding for advanced research, and favorable reimbursement policies for prosthetic heart valves are driving market growth in recent years. In addition, major market development of key players like Abbott Laboratories, Medtronic PLC, and Boston Corporation are additional factors driving the growth of the market.

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Key takeaways:

1. North America dominated the Prosthetic Heart Valve Market in the year 2019 owing to increasing technological advancements and increasing heart valve disorders among the growing geriatric population. The Prosthetic Heart Valve Market scope for different regions will be provided in the final report.

2. Growing geriatric population, increasing prevalence of heart valve disease, regulatory approvals for advanced new procedures, increasing government funding for advanced research, and favorable reimbursement policies for prosthetic heart valve is estimated to drive the industry growth during the forecast period 2020-2025.

3. Detailed analysis of the Strengths, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Prosthetic Heart Valve Market Report.

4. High cost of heart operation resulting in lower reach to the people is anticipated to hamper the market growth of the Prosthetic Heart Valve Industry.

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Segment Analysis

1. Transcatheter Heart Valves held the largest share in the valve type segment of the Prosthetic Heart Valve Market in 2019, and are estimated to grow at a CAGR of 10.5% during the forecast period 2020-2025. Easier implantation involving a minimally invasive procedure rather than open-heart surgery, increasing prevalence of aortic stenosis, and growing demand from heart patients are attributed to the market growth of this segment. Mechanical Heart Valves held the second largest share in the market in 2019, owing to awareness about the benefits of the valves like no need for lifelong anticoagulation, flexibility, and strength.

2. Hospitals held the major share in the end-user segment of the Prosthetic Heart Valve Market in 2019. The chance of death of patients who received surgery in a hospital that performed many surgeries annually is noticeably lower than patients receiving operations from other healthcare centers, indicating that the chance of death decreases as the annual volume of heart surgeries in the hospital increases.

3. North America dominates the geography segment of the Prosthetic Heart Valve Market with a share of more than 37.1% in 2019. A growing number of technological advancements, increasing heart valve disorders among the growing geriatric population, improved healthcare infrastructure, and a rise in healthcare expenditure in the last decade are helping in the significant market growth in the region. Europe held second place in the geography segment share of the market.

Competitive Landscape:

The top 5 players in the Prosthetic Heart Valve Industry are -

1. Edwards Lifesciences Corporation
2. St. Jude Medical, Inc.
3. Medtronic PLC
4. Boston Scientific Corporation
5. Abbott Laboratories

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