According to a new market report published by Persistence Market Research “Global
Market Study on Heart Valve Repair and Replacement: Asia Pacific to Witness
Highest Growth by 2020,” the global heart valve repair and replacement market was
valued at USD 2,945.2 million in 2014 and is expected to grow at a CAGR of 8.1%
from 2014 to 2020, to reach USD 4,712.7 million by 2020.
The global heart valve repair and replacement market is witnessing significant growth
due to growing geriatric population, change in lifestyles, and associated conditions
leading to cardiovascular disorders. Moreover, technological advancements in the
heart valve repair and replacement devices and surgeries, and rise in medical tourism
promoting heart valve repair and replacement surgeries are also driving the market.
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However, there are various risks and complications associated with heart valve repair
and replacement surgeries such as irregular heart rhythm, breathing problem, and
embolism. Furthermore, lack of primary healthcare infrastructure in developing
countries inhibits the growth of the heart valve repair and replacement market. The
heart valve repair and replacement market is anticipated to grow from an estimated
USD 2,945.2 million in 2014 to USD 4,712.7 million by 2020 at a CAGR of 8.1%
during the forecast period.In North America, the prevalence of cardiovascular
diseases is high compared to other regions of the world due to increasing rate of
obesity and change in lifestyle in the region. In the U.S., approximately 70,000 heart
valve procedures are performed for mitral valve stenosis annually.
In Europe, the heart valve repair and replacement market is driven by a rise in
geriatric population, increasing the prevalence of lifestyle-associated disease, and
change in lifestyles. Cardiovascular diseases cause more deaths among Europeans
Approximately 50,000 valve replacement surgeries take place annually.
However, the growth of heart valve repair and replacement market in Asia Pacific is
much higher than that in developed countries due to the large population base, change
in lifestyles, increasing prevalence of lifestyle associated diseases, and rising medical
tourism in the region.
Edwards Lifesciences Corporation, St. Jude Medical, Inc., Medtronic, Inc., Sorin
Group, Boston Scientific Corporation, and Abbott Laboratories, Inc. are some of the
major players in the heart valve repair and replacement market.
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