A prosthetic heart valve is used in heart valve replacement and they offer many of the functional properties of the native valves. The implantation of prosthetic heart valves is a common method of treating hemodynamically significant aortic or mitral valve diseases.
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The Europe Prosthetic Heart Valves Market was worth USD 1.11 billion in 2016 and estimated to be growing at a CAGR of 12.66%, to reach USD 2.02 billion by 2021.
Since the introduction of the first artificial valve in 1950, over 80 models of the same have been introduced over the years.
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The characteristics that a natural heart valve has is also the same that an artificial replica of the same demands. These include minimal regurgitation of blood, minimal transvalvular pressure gradient, non-thrombogenic, self-repairing and rapid dynamic response.
Artificial valves also have to meet additional challenges such as the prospect of wear, blockage and undesired valve-tissue interaction. A special type of treatment involving transcatheter heart valves have allowed valve implantation to be carried out in patients that were otherwise deemed as poor operative risks.
The rise of the Prosthetic Heart Valves market is mainly driven by the regulatory approvals for new and advanced heart valves. The worldwide geriatric population is rising as well as the prevalence of HVD.
This acts as additional stimulants to the market growth along with the rise in demand for minimally invasive cardiovascular surgeries and the high number of heart valve surgery centers. However, the high risks associated with the use of artificial valves and the high cost of the treatment serve as restraints for the market growth.
This along with the fact that the approval process for new products is very stringent, keep the heart valve market in check.
The Europe Prosthetic Heart Valves market is broadly classified based on type into Mechanical Heart Valve, Tissue Heart Valve and Transcatheter Heart Valve. Based on geography, the Europe market is divided into Italy, UK, Germany, France and Spain.
Europe is one of the major market players with it holding the second highest market share at present. Inspite of a below average CAGR, the market is standing strong due to the immense scope of research in the region.
The region is mostly at its epitome of development and companies in the region are turning their attention towards research regarding advanced developments.
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Several multinational companies operate in the prosthetic heart valve. The major market players in the Europe market include Corvia Medical, CardioKinetix, Biomerics LLC, Lepu Medical Technology, XELTIS BV, Comed BV, HLT, Meril Life Sciences, SYMETIS SA and Transcatheter Technologies GmbH.
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