Aortic Valve Market by Product, by Procedure, by End User, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023

Thursday, January 2, 2020 Corporate News
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NEW YORK, Jan. 2, 2020 /PRNewswire/ --

Aortic Valve Market by Product (Valve Type [Tissue/Biological, Mechanical], Suture Type [Sutured, Sutureless]), by Procedure (Minimally Invasive Surgery [Transfemoral, Transapical], Open Surgery [Tissue/Biological, Mechanical]), by End User (Hospitals, Ambulatory Surgery Centers), by Geography (Germany, France, U.K., Italy, Spain, U.S., Canada, Japan, China, Taiwan, Brazil, Mexico, South Africa) - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023

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Aortic valve market is expected to reach $9,859.8 million by 2023, owing to rising prevalence of valvular heart diseases (VHDs), increasing preference for minimally invasive surgeries (MISs), initiatives for creating awareness about valve replacement, and favorable reimbursement scenario related to aortic valves.Based on product, the market is bifurcated in terms of valve type and suture type. On the basis of valve type, the aortic valve market has been categorized into tissue/biological and mechanical valves. Tissue/biological aortic valves held 88.1% share in the market in 2017. This can be mainly attributed to advancements in technology and rising adoption of tissue/biological valves, globally.Based on suture type, the aortic valve market for sutureless valves is projected to witness significant growth during the forecast period, with 22.9% CAGR in terms of value. This can be mainly ascribed to the advantages of these valves over sutured valves, such as reduction in the duration of cross-clamp and cardiopulmonary bypass (CPB) procedures. It is further predicted that over 30 thousand units of sutureless aortic valves would be sold by 2023, as compared to over 8 thousand valves sold in 2017.Aortic valves can either be replaced through open surgeries or MISs. The MISs for aortic valve implantation held larger share in the aortic valve market in 2017, with a revenue contribution of $3,519.8 million. This can be attributed to the fact that MISs, unlike open surgeries, involve a smaller number of incisions to reduce trauma.Hospitals and ambulatory surgery centers (ASCs) are the prime end users in the aortic valve industry, where hospitals constitute a larger end-user base for aortic valves and are expected to generate revenue of $8,106.4 million in the market by 2023. This can be attributed to the highly advanced healthcare facilities and optimized patient care provided in hospitals.In comparison to global market growth, the European market is expected to observe the fastest growth during the forecast period, with 11.6% CAGR, owing to the increasing prevalence of cardiovascular diseases (CVDs), growing acceptance for technologically advanced products, and improving healthcare infrastructure in the region. The European aortic valve market is driven by factors, such as significant prevalence of aortic stenosis in the European countries, availability of various treatment options including transcatheter aortic valve replacement (TAVR), and rising initiatives for creating awareness about valve replacement surgeries in the region.Furthermore, lack of awareness on CVDs, particularly aortic stenosis, leads to late diagnosis and health deterioration in patients. However, initiatives are being taken in the European region to create awareness among people about CVDs and their treatment options. The European Heart Valve Disease Awareness Day, aims at improving diagnosis, treatment, and management of heart valve diseases in Europe, was held for the first time in September 2018.Companies are attaining a number of approvals for their products, in order to enter into the aortic valve market. For instance, in June 2018, LivaNova PLC received approval from the Japanese Ministry of Health, Labour and Welfare (MHLW), for its Perceval sutureless aortic heart valve, which is used for the treatment of aortic valve diseases. Before that, in March 2018, LivaNova PLC received Conformité Européene (CE) approval for its Bicarbon aortic valves for use with a low-dose anticoagulant therapy. This expanded indication of the company's Bicarbon family of mechanical valves was based on the evidence and results collected from the LOWERING-IT trial, where patients saw 60% reduction in the risk of bleeding.Some of the other key players in the aortic valve industry are Boston Scientific Corporation, Edwards Lifesciences Corporation, CryoLife Inc., Medtronic plc, Abbott Laboratories, Venus Medtech (Hangzhou) Inc., and LifeNet Health.Read the full report: About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: US: (339)-368-6001 Intl: +1 339-368-6001

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