Heart Valve Repair Replacement Market

Availability of advanced computational tools is likely to boost the market

Various numerical methods have been introduced to solve problems pertaining to the fluid dynamics associated with the valve design, which is expected to boost the heart valve repair and replacement market.

Computational tools can also be used to approximate other parameters of fluid mechanics, such as pressure drops, regurgitation volumes, or turbulence, which is another major driver of the heart valve repair and replacement market.

Moreover, the availability of computational tools enables the accurate diagnosis of valvular diseases, which results in appropriate treatment, thus boosting the heart valve repair and replacement market.

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Rising competition and innovations are likely to boost the overall heart valve repair and replacement market

Several companies are focusing on the launch of new transcatheter valves for heart valve repair and replacement. At present, only Medtronic’s CoreValve and Edwards Lifesciences’ Sapien and Sapien XT are used globally. However, several devices have received regulatory approval in Europe and are currently in the process of carrying out clinical trials to gain FDA approval, which is expected to drive the heart valve repair and replacement market.

Some of the devices, such as Boston Scientific’s Lotus Valve System, which have received CE marks in Europe, have demonstrated good clinical performance.

The innovation and development of these new devices can increase competition in the heart valve repair and replacement market and hence, which is likely to be an important factor in driving the heart valve repair and replacement market.

Increasing incidence of valvular heart defects is a major driver of the heart valve repair and replacement market 

The increasing incidence of valvular heart defects is an important factor that is responsible for the growth of the heart valve repair and replacement market. The incidence of valvular heart disease, especially among the ageing population, is increasing at a rapid pace, thus boosting the heart valve repair and replacement market.  

Increasing geriatric population is an important factor boosting the growth of the heart valve repair and replacement market. Growth of the global heart valve repair and replacement market can also be attributed to an increase in the incidence of cardiovascular diseases such as rheumatic heart diseases and aortic stenosis.

In developed countries, calcific aortic stenosis is a leading cause of valvular heart disease, with 0.4% of the general population suffering from it. This is another factor that is responsible for the growth of the heart valve repair and replacement market.

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Favourable reimbursement policies are likely to boost the overall market

Various reimbursement policies have proven to be favorable for the growth of the heart valve repair and replacement market. For instance, Medicare—a national social insurance program in the U.S.—covers reimbursement for patients whose aortic heart valves are damaged and need replacement. Similarly, in May 2012, the Food and Drug Administration and Centers for Medicare and Medicaid Services (CMS) jointly approved insurance coverage for transcatheter aortic valve replacement in high-risk patients suffering from severe aortic stenosis.

Increasing number of heart valve repair and replacement procedures is expected to fuel the growth of the market

In February 2012, according to National Center for Biotechnology Information, around 2,75,000 to 380,000 heart valve implantations were performed among aging patients in developed countries each year.

Tissue heart valves are mostly used in developed regions, such as the U.S and Europe, and mechanical valves are used in Asia and Latin America owing to the latter being significantly more cost-effective.

Competitive Landscape

The competition section of the report features the profiles of the key players operating in the heart valve repair and replacement market based on their market shares, development strategies included in heart valve repair and replacement, product lines, marketing strategies to boost their share in the heart valve repair and replacement market, and a dashboard view of companies that manufacture heart valve repair and replacement products. Examples of some of the key players featured in this report include Medtronic plc., Abbott Laboratories, Edwards Life sciences, Boston Scientific Corporation, LivaNova PLC, CryoLife, Inc., Colibri Heart Valve LLC, JenaValve Technology, Inc., Micro Interventional Devices, Inc., Braile Biomedica, Aortech International, and Arbor Surgical Technologies, Inc.

Medtronic is a global healthcare solutions company operating in approximately 160 countries. The company is committed to improving lives through its medical technologies, services, and solutions. The company is seizing important growth opportunities for the coronary & structural heart business segment to deliver differentiated therapy to cardiac patients.

Abbott is expanding its footprint in the global prosthetic heart valve repair and replacement market by leveraging not only its acquisitions, but also its R&D and new product launches.

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Definition

Heart valve repair and replacement includes the repair or replacement of the damaged heart valve due to the occurrence of heart valvular disease. A prosthetic heart valve is a device that mimics the function of human heart valves and has a passive mode of functioning. The closing and opening of heart valves are responses to pressure and flow changes within the heart. They are for patients suffering from heart valvular disease who need their valves to be replaced.

About the Report

PMR conducted a research study on the heart valve repair and replacement market for the forecast period 2018 to 2028. The heart valve repair and replacement market report offers a comprehensive evaluation of the business opportunities prevailing in the heart valve repair and replacement market, along with insights on the current trends pertaining to the heart valve repair and replacement market, as well as their multiple applications. The report elaborates the macroeconomic factors influencing the dynamics of the heart valve repair and replacement market and its futuristic potential.

Segmentation

The report offers a comprehensive taxonomy of the heart valve repair and replacement market based on the product type, disease indication, end user, and region. There are two types of heart valve repairs: mitral valve annuloplasty rings and transcatheter mitral valve repair. Heart valve replacement is divided into mechanical sutured aortic valve replacements and mechanical sutured mitral valve replacements. Tissue heart valves are of three types: tissue sutured aortic valve replacements, tissue sutured mitral valve replacements, and tissue suture-less aortic valve replacements. Transcatheter Aortic Valve Implantation (TAVI) is another category of the product type of the heart valve repair and replacement market.

On the basis of disease indication, the heart valve repair and replacement market has been segmented into aortic stenosis, aortic regurgitation, mitral stenosis, and mitral regurgitation.

Based on the end user, the heart valve repair and replacement market has been segmented into hospitals, ambulatory surgical centers, and cardiac catheterization laboratories.

Additional Questions Answered

Some of the additional questions addressed in this report on the heart valve repair and replacement market-

• What is the revenue potential of the heart valve repair and replacement market across regions of North America and Europe?
• Who are the key competitors and what are their portfolios in the heart valve repair and replacement market?
• What are major challenges influencing the growth of the heart valve repair and replacement market?
• How does intervention from regulatory authorities shape the growth of the heart valve repair and replacement market?

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Research Methodology

The heart valve repair and replacement market is derived on the basis of the supply-demand approach. A triangulation methodology is adopted to derive the size of the market, which is primarily based on the epidemiology of heart valvular diseases and the types of heart valves. The country-specific data is derived for understanding the market at the global level. The heart valve repair and replacement market has been derived by conducting primary research and secondary research. Primary research includes telephonic interviews and secondary research includes various databases for the collection of appropriate data.