According to research report the global prosthetic heart valves market is projected to reach USD 8.86 Billion by 2022 from USD 4.84 Billion in 2017, at a CAGR of 12.9%. The report covers the artificial heart valves which are implanted in the hearts of patients suffering from heart valve disease (HVD). 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 are driving the growth of the prosthetic heart valves market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=245407958
A number of key players in this market are competing against each other in order to expand their existing customer base. The prosthetic heart valves market, by type, is categorized as transcatheter heart valves, tissue heart valves, and mechanical heart valves. In 2016, Edwards Lifesciences Corporation (U.S.) and Medtronic plc (Ireland) dominated both, the transcatheter heart valves and the tissue heart valves market segments; the mechanical heart valves market was dominated by St. Jude Medical, Inc. (an Abbott Laboratories Company) (U.S.) and LivaNova PLC (U.K.). The prosthetic heart valves market is dominated by Edwards Lifesciences Corporation (U.S.), Medtronic plc (Ireland), St. Jude Medical, Inc. (an Abbott Laboratories Company) (U.S.), Boston Scientific Corporation (U.S.), LivaNova PLC (U.K.), Symetis SA (Switzerland), JenaValve Technology, Inc. (Germany), CryoLife, Inc. (U.S.), TTK Healthcare Limited (India), Colibri Heart Valve, LLC (U.S.), Lepu Medical Technology Co., Ltd. (China), and Braile Biomédica (Brazil).
Edwards Lifesciences Corporation (U.S.) dominated the global transcatheter heart valves market with a share of 58% in 2016. The company also dominated the tissue heart valves market with a share of 45% in 2016. The company is a pioneer in the development of heart valve products and is one of the leading manufacturers of heart valves and repair products for the replacement or repair of defective heart valves. Edwards Lifesciences primarily focuses on growth strategies such as approvals and product launches, followed by marketing and promotion. For instance, in August 2016, it received the U.S. FDA approval for its INTUITY Elite Valve System designed to facilitate minimally invasive surgeries and streamline complex aortic valve replacements. The company also focuses on acquiring companies to gain their valuable insights in the field of heart valve systems. For instance, in January 2017, the company acquired Valtech Cardio Ltd. (Israel), a developer of Cardioband System for transcatheter repair of the mitral and tricuspid valves.
Edwards Lifesciences also organizes educational symposia and customer training sessions to create awareness on its products and technologies. The company’s sales growth was led by the transcatheter heart valves therapy segment, which benefited from the launch of the SAPIEN 3 transcatheter heart valve in the U.S. (July 2015), Europe (January 2014), and Japan (March 2016). Edwards Lifesciences has succeeded in creating a strong foothold in the heart valves market owing to its diversified product portfolio, wide geographic reach, focus on innovation and research, and growing number of product launches.
Medtronic plc (Ireland) accounted for a share of 30% of the global transcatheter heart valves market and 26% of the global tissue heart valves market in 2016. The company develops, manufactures, and markets a broad range of medical devices, therapies, and services for various chronic diseases. The research and development unit of the company focuses on developing new products, improving existing products and therapies, and expanding the indication and application of its products. For instance, in March 2017, the company launched a transcatheter heart valve—CoreValve Evolut PRO. The company commands a major share of the prosthetic heart valves market on account of its diversified product portfolio of heart valves systems, widespread geographical presence, focus on organic and inorganic growth strategies, strong focus on R&D, and aggressive marketing and sales strategies.
St. Jude Medical, Inc. (U.S.) accounted for a share of 52% of the global mechanical heart valves market in 2016. The company offers a number of products in the prosthetic heart valves market through the Structural Heart Products segment; this segment offers heart valve replacement and repair products and structural heart defect treatment devices such as tissue valves and mechanical valves (SJM Regent Heart Valves). The net sales of its mechanical heart valves segment declined from 2014 to 2015 owing to the market preference for tissue valves. The company focuses on R&D to support its long-term growth opportunities.
Get Report Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=245407958
In May 2015, St Jude launched the Trifecta valve with glide technology in the U.S. Trifecta is the company’s most advanced tissue valve for the treatment of patients diagnosed with unhealthy, damaged, or malfunctioning aortic heart valves. St Jude has a market presence in the U.S., Europe, Japan, and Asia-Pacific, and has more than 20 principal operations and manufacturing facilities worldwide. It has gained a major share of the mechanical heart valves market on account of its comprehensive solutions, wide geographical presence, aggressive marketing and sales strategies, and focus on research and development for product innovation.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
newsletter@marketsandmarkets.com
