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The global heart valve repair and replacement market is growing, due to technological advancement of heart valve repair and replacement procedure and devices, and increasing demand for minimally invasive surgical procedure for the repair of valve. The heart valve replacement segment is expected to grow with the faster rate in the coming years. Based on type of replacement, transcathater heart valve is expected to grow with the fastest rate in the coming years. The massive unexplored market in the heart valve repair and replacement industry of the developing economies is creating growth opportunities for the market. The growing product invention and increasing number of mergers and acquisitions are the major trends witnessed in the global heart valve repair and replacement market.
Heart valve is a thin flap of tissue, which ensures the unidirectional flow of blood throughout the cardiac cycle. Tricuspid valve, mitral valve, aortic valve, and pulmonary valve are the primary four valves in the heart. Valvular stenosis, atresia, valvular inadequacy or regurgitation, and prolapse are some major diseases associated with heart valve. These diseases are treated with the help of repair or replacement of the heart valve. For instance, aortic heart valve is not repaired but it is only replaced with the prosthetic heart valve. However, other valves such as mitral, tricuspid, and pulmonary valves can be repaired and replaced depending upon the disease or condition.
Some of the factors driving the growth of the global heart valve repair and replacement market are growing geriatric population, changing lifestyle leading to lifestyle associated diseases, such as cardiovascular disease, and increasing healthcare expenditure in the market. Moreover, the increasing medical tourism promoting heart valve repair and replacement surgery, and increasing healthcare awareness are driving the growth of the market. However, the risks and complications associated to heart valve surgeries, such as embolism and breathing problems, and scarcity of primary healthcare infrastructure in developing countries, are some of the factors restraining the growth of the global heart valve repair and replacement market.
Geographically, North America is expected to dominate the global heart valve repair and replacement market in the coming years, due to increasing prevalence of lifestyle associated diseases, advanced healthcare infrastructure, and growing geriatric population. Asia-Pacific is expected to be the fastest growing region in the global heart valve repair and replacement market, due to presence of huge pool of patients, and increasing geriatric population in the region. In addition, the Asia-Pacific market is growing due to increasing healthcare expenditure, increasing awareness of healthcare, and refining healthcare infrastructure in the emerging countries, such as India and China.
Some of the companies operating in the global heart valve repair and replacement market are ST. Jude Medical Inc., Sorin Group, Edward Lifesciences Corporation, Boston Scientific Corporation, Medtronic Inc., On-X Life Technologies Inc., Abbott laboratories Inc., Colibri Heart Valve LLC, CryoLife Inc., and Nevovasc Inc.
Heart Valve Repair and Replacement Market Segmentation
By Type of Procedure
By Type of Replacement