Heart Valve Devices Market to Observe Prominent CAGR Growth of 13.4% by 2030
Data Bridge Market research has just completed and published a study report with the title “ Global Heart Valve Devices Market” (including the United States, Europe, China, Japan, India, South East Asia, and other regions). The report emphasizes opportunities, and risks, and leverages this information to help readers make strategic and tactical decisions. The Forklift Truck report encompasses the key developments in the market with respect to the current scenario and the forthcoming advancements. Data Bridge Market Research has recently published a Report, titled, “ Global Heart Valve Devices Market ” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
Data Bridge Market Research analyzes that the heart valve devices market is expected to reach the value of USD 23,665.51 million by 2030, at a CAGR of 13.4% during the forecast period. Product type accounts for the largest type segment in the market due to rapid demand of heart valves devices globally. This market report also covers pricing analysis, patent analysis, and technological advancements in depth.
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The increasing prevalence of heart disease is the major driver for the market. Heart disease is the leading cause of death in the world, and it is estimated that over 1 billion people have heart disease. Heart valve disease is a common complication of heart disease, and it can lead to heart failure and death. Newer heart valve devices are more durable and effective than older devices. They are also less invasive, which means that patients have a shorter recovery time and a lower risk of complications. In the United States, the Centers for Medicare and Medicaid Services (CMS) has recently expanded coverage for heart valve devices. This has made it easier for patients to get the treatment they need.
Growing number of heart diseases is expected to drive the market’s growth rate
The introduction of innovative products for minimally invasive procedures is expected to drive the worldwide heart valve devices market. Tissue valves have transformed the heart valve industry. The newest generation of cardiac valve surgery features fewer delivery curves, more controlled placement, improved valve function, decreased valve regurgitation, increased durability, and lower costs. Furthermore, intelligent designs, new technologies, and biomaterials applications are pushing the boundaries of new product development, assuring that these devices will be at the forefront of interventional product innovation for years to come. Design advancements are assisting market participants in capitalizing on attractive growth prospects in heart valve devices. As a result of advances in heart valve devices, the worldwide heart valve devices market is predicted to rise rapidly.
Market Development
- In 2022, Abbott and Laboratories announced a new minimally invasive vascular heart valve repair device. The device, called the MitraClip, is designed to treat mitral regurgitation, a condition in which the mitral valve in the heart does not close properly. The MitraClip is a small clip that is inserted into the heart through a catheter, and it is used to secure the mitral valve in place. Abbott also announced new data on two other products in its market-leading structural heart portfolio: the Amplatzer Amulet and the Amplatzer Piccolo. The Amplatzer Amulet is a small device that is used to close holes in the heart, and the Amplatzer Piccolo is a small balloon that is used to open up narrowed arteries.
- In 2022, Biomerics announced its expansion in Ireland. The company plans to create a new Balloons & Balloon Catheters Centre of Excellence in Galway, which will create over 200 new jobs. The new centre will focus on the development and manufacturing of balloons and balloon catheters for use in a variety of medical procedures, including the treatment of coronary artery disease, peripheral artery disease, and congenital heart defects. The expansion of Biomerics in Ireland is a significant investment in the country’s medical device industry. It is also a vote of confidence in the Irish government’s commitment to supporting the growth of the industry.
Opportunity
- Increasing Awareness of Prosthetic Devices
A prosthesis is a device designed to replace a missing body part or to improve the function of a body part. Prosthetic heart valves are increasingly used in cases of abnormalities of the natural valves that require intervention. Generally, they can be divided into mechanical heart valves, biological valves, and allogeneic grafts. The goal of artificial valves is to act hemodynamically like a natural valve with minimal side effects. Cardiovascular prostheses devices have been developed to replace damaged heart tissue. These medical devices are designed to mimic the function of normal cardiovascular organs. Artificial hearts allow heart surgeons to increase the treatment of heart blocks.
Moreover, the prevalence of prosthetic valves ranges from 0.2 per 1,000 in people years of age or younger to 5.3 in people years of age or younger.
Thus the increasing awareness about prosthetic devices acts as an opportunity for the market’s growth.
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Major Players
Data Bridge Market Research recognizes the following companies as the major market players: Abbott (U.S.), Boston Scientific Corporation (U.S.), Artivion, Inc. (U.S.), Edwards Lifesciences Corporation (U.S.), Medtronic (Ireland), NeoVasc (Canada), Micro Interventional Devices Incorporated (U.S.), Foldax, Inc. (U.S.), and Colibri Heart Valve (U.S.).
Heart Valve Devices Market Scope
BY PRODUCT TYPE
- Mechanical Heart Valves
- Biological Heart Valves
- Transcatheter Valves
On the basis of product type, the heart valve devices market is segmented into mechanical heart valves, biological heart valves and transcatheter valves.
BY TREATMENT
- OPEN SURGERY
- MINIMALLY INVASIVE SURGERY
On the basis of treatment, the heart valve devices market is segmented into open surgery and minimally invasive surgery.
BY END USER
- HOSPITAL & CLINICS
- AMBULATORY SURGICAL CENTERS
- CARDIAC CENTERS
- RESEARCH CENTERS
- OTHERS
On the basis of end user, the heart valve devices market is segmented into hospitals & clinics, ambulatory surgical centers, cardiac centers, research centers and others.
BY DISTRIBUTION CHANNEL
- DIRECT TENDER
- THIRD PARTY DISTRIBUTORS
Fundamental Aim of this Market Report
In the Industry, every company has goals, but this report focuses in on the most important ones, allowing you to gain insight into the competition, the future of the market, potential new products, and other useful information that can boost your sales significantly.
- Factors influencing This Market Size and growth rate.
- Major alterations to this market in the near future.
- Notable Market rivals around the world.
- Future Scope and Product Outlook
- Future-promising emerging markets.
- The Market Presents Difficult Challenges and Threats.
Key highlights of this Market report:
- Growth rate
- Remuneration prediction
- Consumption graph
- Market concentration ratio
- Secondary industry competitors
- Competitive structure
- Major restraints
- Market drivers
- Regional bifurcation
- Competitive hierarchy
- Current market tendencies
- Market concentration analysis
Browse the complete table of contents at – https://www.databridgemarketresearch.com/toc/?dbmr=global-heart-valve-devices-market&Shri
Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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