PUBLISHER: Orion Market Research | PRODUCT CODE: 1078188
PUBLISHER: Orion Market Research | PRODUCT CODE: 1078188
Global Bioprosthetic Heart Valves Market Size, Share & Trends Analysis Report by Type (Homograft, Heterograft, Bovine Pericardial Valve, and Stent-less Valves), and by End-User (Hospitals, Research Institutes, and Other Research) Forecast Period (2022-2028)
The global bioprosthetic heart valves marketis anticipated to grow at a substantial CAGR of 11.4% during the forecast period.Ongoing improvements and development in the healthcare facilities are supporting the implantation of the bioprosthetic heart valve in developing countries which in turns driving the market growth during the forecast period.For instance, the most recent development in bioprosthetic heart valves technology is the percutaneous (or transcatheter) valve replacement, which involves replacement of the aortic valve in a minimally invasive procedure with catheterization from a large blood vessel, most commonly the femoral artery.However, high cost of these procedures, as well as a lack of skilled professionals, hinders the market growth. Additionally, governments' stringent regulations for product approval have been hindering the market growth.
The global bioprosthetic heart valves market is segmented based on the type, and end-user. Based on the type, the market is segmented into homograft, heterograft, bovine pericardial valve, and stent-less valves. Based on, the end-user the market is sub-segmented into hospitals, research institutes, and other. On the basis of end user, hospital segment is projected to exhibit the fastest growth in the global bioprosthetic heart valves market over the forecast period. The growth attributed to the availability of various surgical procedures in such settings. For instance,in 2021, CARMAT announced the first implant of its Aeson bioprosthetic artificial heart in a commercial setting. This implant of the Aeson artificial heart was performed at the AziendaOspedalieradeiColli hospital in Naples. 5 German hospitals have already been trained by CARMAT and are currently screening patients for an implant.
Geographically market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.Asia-Pacific is predicted to be the fastest growing region due to rising geriatric population and increasing incidence and prevalence rate of heart diseases. According to American College of Cardiology Foundation, over half of all CVD deaths globally in 2019 occurred in Asian countries and from 1990 to 2019, the number of CVD deaths in Asia rose from 5.6 million to 10.8 million.
The major companies serving the global bioprosthetic heart valves market include Medtronic International Trading Sarl, TTK Healthcare Ltd., Edwards Lifesciences Corp., Boston Scientific Corp., Abbott Laboratories and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in 2021 St. Jude Medical, Inc. a global medical device company announced regulatory approval from the Japanese Ministry of Health, Labor and Welfare (MHLW) and the launch of the Trifecta aortic stented, pericardial tissue valve. The first procedures were performed at Osaka University Hospital and Saitama Medical University International Medical Center in Japan.
Research Methodology
The market study of the global bioprosthetic heart valves marketis incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers
Category- Medical Devices