Transcatheter Heart Valve Replacement and Repair: Introduction
- Transcatheter heart valve is an innovative technology device in the world of medicine that makes it easier to carry out the replacement or repair of the valve. Two types of valves used for replacement mechanical valves and biological valves. The mechanical valve is made of various material such as plastic, carbon, and metal. It is strong and durable. The biological valve is used mostly in geriatric patient, it needs to be replaced every ten years, and made from the human tissue of a donated heart or from animal tissue.
- Valve repair can conventionally be carried out on congenital valves defect, and valve replacement is usually carried out on severe valve damage, which involves the aortic or mitral valve. Transcatheter aortic valve implantation is a minimal invasive surgical procedure, which is performed while the heart is beating. Transcatheter aortic valve is used to repair a damaged or diseased aortic valve such as severe symptomatic aortic stenosis.
Key Drivers and Restraints of Transcatheter Heart Valve Replacement and Repair Market
Rise in prevalence of aortic valve diseases to be major driver
- Rapid technological advancements, increased investment for medical device research by health-care businesses, increase in patient desire for less invasive operations, and undesirable consequences connected with the use of traditional diagnostic procedures are driving the transcatheter valve replacement and repair market across the globe. Transcatheter heart valve is extensively utilized in the treatment for heart failure in various surgical specialties. Mitral regurgitation is the most common valvular lesion in the world, In the U.S., surgeons perform 106,000 heart valve surgeries each year.
- Transcatheter valve is currently used to perform in pulmonary valvular heart disease in the U.S. The transcatheter valve replacement and repair market is likely to be driven by an increase in the number of mitral regurgitation surgeries during the forecast period.
- Major driver for the transcatheter valve replacement and repair market is a rise in the prevalence of mitral regurgitation, severe aortic stenosis disorder, and an increase in the demand for less invasive procedure for high risk patients
- Long regulatory approval times, increased spending on research & development, expensive device and maintenance costs, and a lack of awareness are expected to limit the transcatheter valve replacement and repair market during the forecast period.
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Transcatheter Heart Valve Replacement and Repair Market: Segmentation
- In terms of product type, the transcatheter heart valve replacement and repair market can be classified into transcatheter aortic valve replacement, transcatheter mitral valve repair and replacement, and transcatheter pulmonary valve replacement
- In terms of by procedure, the transcatheter heart valve replacement and repair market can be classified into heart valve repair and heart valve replacement
- Based on application, the transcatheter heart valve replacement and repair market can be divided into aortic valvular heart disease, mitral valvular heart disease, and pulmonary valvular heart disease
- In terms of end-user, the transcatheter heart valve replacement and repair market can be classified into hospitals, cardiac catheterization laboratory, and surgical ambulatory services
North America Transcatheter Heart Valve Replacement and Repair Market to Expand Rapidly
- In terms of region, the transcatheter heart valve replacement and repair market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominates the transcatheter heart valve replacement and repair market due to the growing prevalence of heart valve disorders in the region. In the U.S., surgeons perform 106,000 heart valve surgeries each year. Early-phase diagnosis and surgery for diseases is driving the pharmaceutical market, which in turn is expected to drive the transcatheter heart valve replacement and repair market in North America. Europe is the second-leading market for transcatheter heart valve replacement and repair due to favorable government policies regarding health care infrastructure and high incidence of heart valve diseases in the region.
- The transcatheter heart valve replacement and repair market in Asia Pacific is projected to expand at a substantial growth rate due to increasing geriatric population, increased frequency of heart stroke requiring surgery, technology advancements, and high per capita spending in the region
- Furthermore, economic growth in countries such as India and China in Asia Pacific and Brazil in Latin America has aided the development of healthcare infrastructure in these regions, which in turn is estimated to propel the transcatheter heart valve replacement and repair market during the forecast period
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Leading Players Operating in Transcatheter Heart Valve Replacement and Repair Market
Key players operating in the transcatheter heart valve replacement and repair market are:
- Abbott Laboratories
- Medtronic, Inc.
- Edwards Lifesciences Corporation
- Boston Scientific Corporation
- Jude Medical, Inc.
- Braile Biomedica
- JenaValve Technology
- HighLife Medical
- CryoLife, Inc.
- MiCardia Corporation
- Accellent Inc.
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