The global prosthetic heart valves market covers the artificial heart valves which are implanted in the hearts of patients suffering from heart valve disease (HVD). This market is expected to reach USD 8.86 billion by 2022 from USD 4.84 billion in 2017, at a CAGR of 12.9% during the forecast period.
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Globally, the prosthetic heart valves market is witnessing growth due to factors such as rising geriatric population and the subsequent growth in the prevalence of heart valve disease (HVD), regulatory approvals for new and advanced prosthetic heart valves, increasing government funding for heart valve research, rising awareness about HVD, and favorable reimbursement scenario for prosthetic heart valves. On the other hand, the high cost of transcatheter aortic valve replacement (TAVR) procedures and the availability of alternative methods for treating HVD are expected to restrain market growth to a certain extent.
Based on the type of valves, the prosthetic heart valves market is segmented into transcatheter heart valves, tissue heart valves, and mechanical heart valves. The transcatheter heart valves segment is expected to continue to dominate the global prosthetic heart valves market in 2022. The large share of this segment can be attributed to the rising prevalence of aortic stenosis, increasing pool of patients owing to approvals for extended valve indications, and technological advancements.
In the report, the global prosthetic heart valves market has been analyzed with respect to four major geographies—North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to command the largest share of 55.20% of the global prosthetic heart valves market in 2017 and is projected to register the highest CAGR of 16.1% from 2017 to 2022. Factors such as the rapid growth in the aging population and prevalence of valvular heart diseases, favorable reimbursement scenario, and rising product approvals for heart valves are supporting the growth of the North American prosthetic heart valves market.
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Given the immense opportunities in developing transcatheter heart valves, market leaders and emerging players are increasing their focus in this market segment in order to increase their revenues.
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