The Business Research Company’s Prosthetic Heart Valve Devices And Equipment Global Market Report 2021 – COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, September 21, 2021 /EINPresswire.com/ — Rising prevalence of valvular heart disease has driven the need for transcatheter aortic valve replacement (TAVR) procedures, thus driving the prosthetic heart valve devices and equipment market value. TAVR is a minimally-invasive surgical procedure done to cure aortic stenosis which is a valvular heart disease that affects the aortic valve of the heart. Aortic stenosis affects the aortic valve by hardening it, thus not allowing blood to properly flow through it and TAVR is used to replace this defective aortic valve with a transcatheter valve. According to a report from The Society of Thoracic Surgeons (STS)/American College of Cardiology (ACC) TVT Registry, volumes have grown every year. In 2019 TAVR passed all forms of surgical aortic valve replacement (SAVR) for the initial time. According to the U.S. Food and Drug Administration approval of TAVR for low-risk patients, the annual size of TAVR has increased every year and in 2019, TAVR volume (72,991) passed all forms of SAVR (57,626). As the rate of occurrence of valvular heart diseases rise, the number of TAVR procedures done can be expected to increase which also increases the demand for transcatheter valves, thus driving the market going forward.
Companies in the prosthetic heart valve market are increasingly preferring polymer valves over traditional mechanical and bio-prosthetic valves/tissue valves. Polymer heart valves are prosthetic heart valves made of polymeric materials and have better functioning than tissue and mechanical heart valves. Mechanical heart valves come with a lifelong requirement of using blood-thinning medication to prevent blood clotting whereas bio-prosthetic heart valves come with a short life span that needs several replacements and have a risk of valve degradation. Polymeric heart valves on the other hand supports better blood flow and reduces risk of blood clotting and therefore does not have the disadvantages of tissue and mechanical valves. Therefore, various companies are focusing on development of polymeric heart valve technologies. For instance, in October 2019, the California Institute of Technology and Foldax announced the development of the Tria heart valve that combines LifePolymer, an advanced biopolymer material, and a patented bio-inspired design to offer a heart valve able of serving for 15 years without calcification, risk of clotting, or damage to red blood cells.
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Major players covered in the global prosthetic heart valve devices and equipment industry are Boston Scientific, Edward life sciences, Medtronic, Livanova and Abbott.
The global prosthetic heart valve devices and equipment market size is expected to grow from $2.26 billion in 2020 to $2.36 billion in 2021 at a compound annual growth rate (CAGR) of 4.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The prosthetic heart valve market is expected to reach $3.47 billion in 2025 at a CAGR of 10.1%.
TBRC’s global prosthetic heart valve devices and equipment market report is segmented by type into transcatheter heart valve, tissue heart valve, mechanical heart valve, by application into hospitals, ambulatory surgery centres, by product type into repair products, mitral valve repair devices, tricuspid valve repair devices, by technology into biological valve, decellularized valve.
Prosthetic Heart Valve Devices And Equipment Global Market Report 2021 – By Type (Transcatheter Heart Valve, Tissue Heart Valve, Mechanical Heart Valve), By Application (Hospitals, Ambulatory Surgery Centers), By Product Type (Repair Products, Mitral Valve Repair Devices, Tricuspid Valve Repair Devices) By Technology (Biological Valve, Decellularized Valve), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides prosthetic heart valve devices and equipment market overview, forecast prosthetic heart valve devices and equipment market size and growth for the whole market, prosthetic heart valve devices and equipment market segments, and geographies, prosthetic heart valve devices and equipment market trends, prosthetic heart valve devices and equipment market drivers, prosthetic heart valve devices and equipment market restraints, leading competitors’ revenues, profiles, and market shares.
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