Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
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According to the report “Asia Pacific Prosthetic Heart Valves Market By Type (Mechanical Heart Valve, Tissue Heart Valve And Transcatheter Heart Valve), And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)” published by Market Data Forecast, The Asia-Pacific Prosthetic Heart Valves Market was worth USD 0.68 billion in 2016 and estimated to be growing at a CAGR of 14.21%, to reach USD 1.33 billion by 2021.
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A prosthetic heart valve is a device which is surgically implanted in the heart of a patient suffering from a valvular heart disease. This is usually done through an open-heart surgery, when one of the four valves present in the heart malfunctions.
Natural heart valves become dysfunctional to a variety of pathological causes, some of them including changing lifestyles or even old age.
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The different types of valves have different qualities which are measured in EOA or Effective Orifice Area. While the mechanical valves are made artificially, the biological valves or tissue valves are usually produced using the valves of animals such as pigs, which undergo several biochemical changes in order to make them fit to be used in human transplantations.
Porcine hearts are preferred for this because pigs have the heart most similar to the human heart and are hence the best anatomical fit.
The rise of the Asia Pacific Prosthetic Heart Valves Market is mainly driven by the demand for minimally invasive cardiovascular surgeries and rise in the number of medical centres that have the provision to perform a heart surgery. Other drivers for the market include the high prevalence of Heart Valve Disorders (HVD), the increasing government funding for research regarding the same and rising awareness among patients about HVDs.
Mechanical valves which is major section of the market constantly requires anti-coagulants to be administered as part of the treatment. This administration is life-long and is a put-off for the market.
This along with high costs of treatment serves as the major restraints for the market growth.
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The Asia-Pacific 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 Asia-Pacific market is divided into China, India, South Korea, Japan and Australia.
Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. In addition to being the fastest growing market, the region also has the third highest market share only behind the likes on North America and Europe.
The high growth rate of the region can be attributed to the developing economies of China and India and the scope for research in the region. It is also much easier for new companies to enter into the market in the region.
Several multinational companies operate in the prosthetic heart valve. The major players in the Asia Pacific Prosthetic Heart Valves Market:
- Corvia Medical
- Biomerics LLC
- Lepu Medical Technology
- XELTIS BV
- Comed BV
- Meril Life Sciences
- SYMETIS SA
- Transcatheter Technologies GmbH
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