Global Heart Valve Devices Market to Touch USD 10.35 Billion by 2022

Sarasota, FL -- (SBWire) -- 01/07/2019 --With the presence of a large pool of participants, the Global heart valve devices market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Abbott, Medtronic, CryoLife Inc., Boston Scientific Corporation, Micro Interventional Devices Inc., Neovasc Inc., and Edward Lifesciences Corporation are some of the key vendors of heart valve devices across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the heart valve devices market study.

In a key boost to heart valve devices market, in September 2018, LivaNova—a medical technology firm—introduced the international pivotal study for determining the application of autonomic regulation treatment for heart failure. Reportedly, the firm entrenched the Vitaria system in a patient during the autonomic regulation treatment to improve myocardial functioning and minimize the cases of progress of heart failures in patients with reduced ejection fraction.

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As estimated in this report, the global heart valve devices market stood at US$5.60 billion in 2016. Witnessing a tremendous rise during the period from 2017 to 2022, the revenue in this heart valve devices market is expected to reach US$10.35 billion by the end of the forecast period.

Obese Population & Heart Disorders To Drive Heart Valve Devices Market Size

"Inactive lifestyle of the global population leading to rise in the proportion of obesity among the individuals is expected to propel the growth of heart valve devices market in the years ahead," says the author of this study. Apart from this, mammoth demand for minimally invasive procedures as a result of increase in cardiac & pathological disorders along with persistent product innovations are few of the key growth drivers of heart valve devices market.

Complicated regulatory procedures and high costs of procedures &devices, however, are predicted to restrict the growth of the heart valve devices market in the upcoming years. Nevertheless, heart valve ailments can cause heart failure, blood clots, stroke, and death of patients and hence requires effecting handling of the heart valve disease. This is anticipated to boost heart valve devices market demand in the next few years, thereby normalizing the impact of hindrances on the heart valve devices market, reports the study.

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Availability Of Technologically Superior Products To Spur Regional Dominance

Regionally, North America has been leading the worldwide heart valve devices market and is anticipated to continue on the dominant position in the years to come, states the heart valve devices market study. Massive application of technologically superior products and growing incidences of heart diseases in the region is the main factor behind the dominance of the North America heart valve devices market. The presence of market players such as Boston Scientific Corporation, Abbott Laboratories, and Medtronic Incorporation in the countries such as the U.S. in North America is another significant factor that is supporting the growth of this regional heart valve devices market.

The global heart valve devices market is segmented as follows:

By Product

Heart Valve Replacement Devices

By technique:
Mechanical Valve
Bioprosthetic Valve
TAVR (Transcatheter Aortic Valve Replacement)
By Position:
Mitral Valve Replacement Devices
Aortic Valve Replacement Devices
Other Position Heart Valve Replacement Devices
Heart Valve Repair Devices
Surgical Valve Repair Devices
Balloon Valvuloplasty Devices
TMVR (Transcatheter Mitral Valve Repair)

By End User

Hospital
Ambulatory Surgical Centers
By Region

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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