Heart valves: Key market research findings
- Rise in implementation of MI procedures to drive market growth
- Americas to dominate the market geographically
- Key vendors – Edwards Lifesciences, LivaNov, Medtronic, and St. Jude Medical
Technavio’s market research analysts predict the global heart valves market to grow at a CAGR of more than 14% between 2016 and 2020. The demand for heart valves is augmented by the increased implementation of minimally invasive (MI) procedures. MI catheter-based procedures reduce the need for blood transfusions, risk of infections, hospital stay duration, cause minimal blood loss and less pain and scarring, and result in rapid healing and recovery for an improved clinical outcome. Vendors in the market are increasingly focusing on the development of products for use during MI procedures as cardiologists are opting for these methods over invasive and open heart surgeries. During 2015, the Americas accounted for around 38% of the overall market share to become the dominant shareholder in the global heart valves market. The market in Americas is flourishing due to the increased incidence of cardiac diseases such as aortic valve degeneration, aortic stenosis, and atria. Factors such as the development of innovative products and the advent of favorable reimbursement policies are expected to boost growth in the heart valves market in the Americas in the coming years.
The new market research report from Technavio presents a breakdown and analysis of the heart valves segments based on the product.
“There has been a rise in the number of M&As in the global heart valves market as it will help vendors to gain access to new technologies that complement their existing product portfolio. Prominent vendors, such as Medtronic and Boston Scientific, that offer cardiovascular devices are acquiring small vendors to gain market shares. Such acquisitions are projected to reflect positively on the availability and sales of heart valves during the next four years,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
Currently, the transcatheter heart valves segment is the dominant shareholder in the global heart valves market, occupying over 70% of the total market space. Transcatheter heart valves can be further classified into transcatheter mitral valve replacement (TMVR) and transcatheter aortic valve replacement (TAVR) systems, with the TAVR vertical being the most popular one. TAVR systems are used in the treatment of people with aortic valve disorders by ensuring the unidirectional flow of the blood across various chambers of the heart. Mitral surgical valve repair procedures or transcatheter replacement procedures, on the other hand, are used in the treatment of mitral regurgitation.
The key vendors in the market include Edwards Lifesciences, LivaNov, Medtronic, and St. Jude Medical. Due to the presence of several heart valve manufacturers, the global heart valves market appears fragmented. There are several vendors who have a portfolio of a wide range of products, and there are vendors who focus on specific products. The acceptance of heart valve surgeries across the globe will increase vendor presence in the coming years, and the market will also witness a number of vendor collaborations and acquisitions in the near future.
A more detailed analysis is available in the Technavio report, Global Heart Valves Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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