The major players in the prosthetic heart valve devices and equipment market are Boston Scientific, Edward life sciences, Medtronic, Livanova, Abbott, Jenavalve technology, Lepu medical, Cryolife, Neovasc Inc and St.
New York, May 13, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Prosthetic Heart Valve Devices And Equipment Global Market Report 2022” – https://www.reportlinker.com/p06277199/?utm_source=GNW
The global market for prosthetic heart valve devices and equipment is expected to grow from USD 4.47 billion in 2021 to USD 5.04 billion in 2022 at a compound annual growth rate (CAGR) of 12.6%. The market is expected to reach $7.54 billion in 2026 at a compound annual growth rate (CAGR) of 10.6%.
The prosthetic heart valve devices and equipment market consists of the sale of prosthetic heart valve devices and equipment. These devices are implanted in the heart of patients with valvular heart disease.
The prosthetic heart valve helps reduce discomfort due to a diseased heart valve and reduces the risk of mortality.
The main types of prosthetic heart valve devices and equipment are transcatheter heart valve, tissue heart valve, and mechanical heart valve. Transcatheter Aortic Valve Replacement is an invasive cardiac procedure to replace a thickened aortic valve that will not fully open.
The product types are Repair Products, Mitral Valve Repair Devices, and Tricuspid Valve Repair Devices. The technologies involved in prosthetic heart valve devices and equipment are biological valves and decellularized valves which are used in various applications such as hospitals and outpatient surgery centers.
North America was the largest region in the prosthetic heart valve devices and equipment market in 2021. Western Europe was the second largest region in the prosthetic heart valve devices and equipment market.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing prevalence of valvular heart disease has driven the need for transcatheter aortic valve replacement (TAVR) procedures, thereby driving the market for prosthetic heart valve devices and equipment. disease that affects the aortic valve of the heart.
Aortic stenosis affects the aortic valve by hardening it, thus preventing blood from flowing through it properly and TAVR is used to replace this faulty aortic valve with a transcatheter valve. According to a report by the Society of Thoracic Surgeons (STS)/American College of Cardiology (ACC) TVT Registry, volumes have been increasing every year.
In 2019, TAVR successfully completed all forms of Surgical Aortic Valve Replacement (SAVR) for the first time. According to the United States Food and Drug Administration (FDA) approval of TAVR for low-risk patients, the annual size of TAVR has increased every year, and in 2019, the volume of TAVR (72,991) exceeded all forms of SAVR (57,626). As the occurrence rate of valvular heart disease increases, it can be expected that the number of TAVR procedures performed will increase, which will also increase the demand for transcatheter valves, thereby driving the market in the future.
Prosthetic heart valves are subject to stringent approval procedures that restrain the growth of the prosthetic heart valves and equipment market. standards.
A randomized clinical trial is a method of clinical study that involves the separation of groups of patient subjects using random selection. This is done to fairly compare different drugs and treatment methods without bias and also to detect possible side effects.
However, these randomized clinical trials take long periods of time. For example, Abbott Vascular Inc. applied for approval for their mitraclip delivery system in 2010 and they received their approval for the same in 2019.
Companies in this market increasingly prefer polymer valves to traditional mechanical and bioprosthetic valves/tissue valves. Polymer heart valves are prosthetic heart valves made of polymeric materials and perform better than tissue and mechanical heart valves.
Mechanical heart valves require lifelong use of anticoagulant drugs to prevent blood clotting, while bioprosthetic heart valves have a short lifespan that requires multiple replacements and poses a risk of valve degradation. flow and reduce the risk of blood clotting and therefore do not have the disadvantages of tissue and mechanical valves.
Therefore, various companies are focusing on the development of polymeric heart valve technologies. For example, in October 2019, the California Institute of Technology and Foldax announced the development of the Tria Heart Valve which combines LifePolymer, an advanced biopolymer material, and a patented biopolymer. -design inspired to provide a heart valve capable of serving for 15 years without calcification, risk of clotting or damage to red blood cells.
The market for prosthetic heart valve devices and equipment is monitored by regulatory bodies such as the FDA in the United States and the Central Drugs Standard Control Organization (CDSCO). For example, the CDSCO issued a notice regarding the classification of risk levels of different medical devices.
In this classification, prosthetic heart valves are considered a class D or high-risk device. Similarly, for manufacturers to produce and sell prosthetic heart valves in India, they have to sign MD-7 and MD-8 forms which come under direct jurisdiction. of the central government of India.
The MD-7 form is used to register prosthetic heart valve manufacturers in India and the MD-8 form is used by prosthetic heart valve manufacturers to apply for loans.
The countries covered in the Prosthetic Heart Valve Devices and Equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK United, the United States and Australia.
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