Market Research Report
Global Bioprosthetic Heart Valves Market Research and Forecast, 2018-2023
|Published by||Orion Market Research Pvt Ltd||Product code||785718|
Delivery time: 2-3 business days
|Global Bioprosthetic Heart Valves Market Research and Forecast, 2018-2023|
|Published: February 1, 2019||Content info:||
Bioprosthetic heart valves are implantable devices made from animal tissues and used by patients suffering from valvular heart disease. These valves are highly preferred due to its strong and flexible properties. Increasing geriatric population and rising valvular diseases associated with them are considered as major factors driving the market growth. According to several studies, more than 80,000 aortic valve replacement procedures are performed every year in the US which in turn increase the demand for heart valve implantation. Furthermore, increasing awareness and government initiatives for implantation procedures is expected to motivate the market growth.
The high cost of these procedures, as well as a lack of skilled professionals, hinder the market growth. Additionally, governments' stringent regulations for product approval have been hindering the market growth. In addition, 77% and 80% of the total cost in the commercialization of class II and class III medical device is usually expended at FDA-linked approval stages. Furthermore, ongoing improvements in the healthcare facilities will support the implantation of the bioprosthetic heart valve in developing countries which in turns drives the market growth during the forecast period.
On the basis of geography, the bioprosthetic heart valve market is segmented into North America, Asia-Pacific, Europe, and Rest of the World. North America is expected to dominate the global bioprosthetic heart valve market due to the presence of major key players and well-established healthcare facilities. Further, high awareness among population towards these procedures is also predicted to drive the market in North America. Additionally, Asia-Pacific is predicted to be the fastest growing region due to rising geriatric population and increasing incidence and prevalence rate of heart diseases.
Some key players in the bioprosthetic heart valve market are Medtronic PLC, TTK Healthcare, Ltd., Edwards Lifesciences Corporation, Boston Scientific Corporation and St. Jude medical and so forth. These players are adopting various strategies such as partnerships, R&Ds, merger & acquisition, product launches, joint ventures and so forth in order to expand their business globally. For instance, in June 2016, Medtronic acquired HeartWare International, Inc. to expand its portfolio of heart failure diagnosis tools.
The market study of bioprosthetic heart valve market is 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 break down the market in 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 macroeconomic 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, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report is intended for healthcare providers, medical device manufacturer for overall market analysis, and competitive analysis. The report provides an in-depth analysis on market size, growth opportunity, and different product types. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Global bioprosthetic heart valves market is segmented based on regional outlook and following segments: