The report segments the global prosthetic heart valves market by product (transcatheter heart valves, tissue heart valves, and mechanical heart valves), by end-user (hospitals and ASCs), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global prosthetic heart valves market, according to Technavio healthcare and life sciences researchers:
- Growing prevalence of heart-related disorders: a major market driver
- Emergence of MRI-conditional heart valves: emerging market trend
- EMEA dominated the global prosthetic heart valves market with 46% share in 2017
- In 2017, transcatheter heart valves held the highest market share of nearly 64%
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Growing prevalence of heart-related disorders: a major market driver
Various chronic heart valve-related disorders such as cardio valvular diseases and valvular and heart failure are on the rise. Additionally, some of the other complications indirectly contributing to the market growth are prosthetic valve thrombosis, mechanical hemolytic anemia, prosthetic valve endocarditis, and thromboembolism. Globally, the demand for cardiac prosthetic devices has increased further due to other major clinical complications such as stroke, rhythm disorder, congenital heart disease, subclinical atherosclerosis, heart failure, and peripheral arterial disease. Further, the obstruction in blood flow will also contribute to the market growth.
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Emergence of MRI-conditional heart valves: emerging market trend
The ongoing technological advances in repair/replacement of abnormal heart valves are driving the development of innovative prosthetic heart valves. At the same time, technological innovations in both diagnosis and treatment of patients with abnormal heart valves have created the need for novel prosthetic heart valves that aid in improving the quality of life and life expectancy. The prosthetic heart valves technology has undergone multiple evolutions to meet the unmet needs of patients. Thus, players in the market have been investing a significant amount in R&D activities, which led to the development of MRI-conditional heart valves.
According to a senior analyst at Technavio for research on cardiovascular devices, “During the procedural examination, MRI-conditional heart valves help to improve the visibility of the heart valve. Regulatory approval of the MRI-conditional heart valve is expected to change the market dynamics. The advent of this new technology will further expand the ability to access heart valves with diagnostic capabilities of MRI. Further, the new interior-mounted leaflet and frame design help in enhancing durability.”
Global market opportunities
In terms of regional dominance, EMEA led the global prosthetic heart valves market, followed by the Americas and APAC in 2017. In EMEA, countries such as Germany, the UK, France, Italy, and Spain were the major revenue contributors to the prosthetic heart valves market. There has been rapid growth of the market in these countries. The key drivers of the market in this region are the increasing older adult population and growing incidence of heart valve diseases.
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