The prosthetic heart valve market is expected to reach a value of $1.3 billion by 2017, according to a new report available from companiesandmarkets.com. Growth is being driven by the global ageing population, increased incidence of obesity and diabetes, as well as improvements in technology and cost reduction.
Prosthetic Heart Valves: A Global Strategic Business Report
The market is divided into two key types of valve: tissue and mechanical heart valves. The tissue valve segment is the largest, with rapid growth expected over the reporting period. Mechanical valves remain popular with younger patients.
Geographically, the US market is the largest overall, with valve-related conditions affecting over 2.5% of the population. Europe follows, although a notable difference between the two regions is the use of the transcatheter aortic valve implantation (TAVI) device - currently used in Europe and soon to be adopted in the US. Percutaneous heart valves are around five times as expensive as some traditional procedures; therefore their increased adoption will drive market value.
Key technological advances have included transcatheter valves, suture-less valves, and anti-calcification technology, which is used to coat the valve with surface-active compounds. Polymers and carbon-based technologies are also being used as an alternative to metals.
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