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Oct 23, 2023

Prosthetic Heart Valve Devices And Equipment Global Market Report 2023

Major players in the prosthetic heart valve devices and equipment market are

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, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Prosthetic Heart Valve Devices And Equipment Global Market Report 2023" - https://www.reportlinker.com/p06277199/?utm_source=GNW Jude medical.The global prosthetic heart valve devices and equipment market will grow from $5.04 billion in 2022 to $5.5 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The prosthetic heart valve devices and equipment market is expected to grow to $7.41 billion in 2027 at a CAGR of 7.7%.The prosthetic heart valve devices and equipment market consist of sales of mechanical heart valves, transcatheter heart valves, and tissue heart valves that are used for heart patients.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Prosthetic heart valve devices and equipment are artificial heart valves that are implanted in the heart of a patient with valvular heart disease.North America was the largest region in prosthetic heart valve devices and equipment market in 2022.Western Europe was the second-largest region in prosthetic heart valve devices and equipment market.The regions covered in the prosthetic heart valve devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.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 heart 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 that are used in various applications such as hospitals and ambulatory surgery centres.The rising prevalence of valvular heart disease has driven the need for transcatheter aortic valve replacement (TAVR) procedures, thus driving the prosthetic heart valve devices and equipment market.TAVR is a minimally-invasive surgical procedure done to cure aortic stenosis which is a valvular heart disease that affects the aortic valve of the heart.Aortic stenosis affects the aortic valve by hardening it, thus not allowing blood to properly flow through it and TAVR is used to replace this defective aortic valve with a transcatheter valve.According to a report from The Society of Thoracic Surgeons (STS)/American College of Cardiology (ACC) TVT Registry, volumes have grown every year.In 2021, TAVR procedures make up more than 84% of aortic valve replacement procedures in the united states. 92,000 TAVR procedures were done in 2021. As the rate of occurrence of valvular heart diseases rises, the number of TAVR procedures done can be expected to increase which also increases the demand for transcatheter valves, thus driving the market going forward.Prosthetic heart valve devices have stringent procedures for approval which restrains the growth of the prosthetic heart valve devices and equipment market.According to the US food and drugs administration (FDA), randomized clinical trials are required for any medical device, to test for its safety standards.A randomized clinical trial is a clinical method of study that involves the separation of groups of patient subjects using random selection.This is done to compare different medicines and treatment methods fairly with no room for bias and also to detect side effects if any.However, these random clinical trials take long periods.Companies in this market are increasingly preferring polymer valves over traditional mechanical and bio-prosthetic valves/tissue valves.Polymer heart valves are prosthetic heart valves made of polymeric materials and have better functioning than tissue and mechanical heart valves.Mechanical heart valves come with a lifelong requirement of using blood-thinning medication to prevent blood clotting whereas bioprosthetic heart valves come with a short life span that needs several replacements and have a risk of valve degradation.Polymeric heart valves on the other hand support better blood 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 instance, in July 2022, Shanghai Medics, a Shanghai-based medical technology company developed new synthetic heart valve. The new valve is developed using polymer nanomaterial and has a longer lasting life of 20 to 25 years.The prosthetic heart valve devices and equipment market is monitored by regulatory bodies such as FDA in the US and The Central Drugs Standard Control Organization (CDSCO).For instance, CDSCO issued a notice regarding the classification of the risk levels of different medical devices.Under this classification, prosthetic heart valves are considered a class D or high-risk device.Similarly, for manufacturers to produce and sell prosthetic valve devices in India, they need to sign forms MD-7 and MD-8 which come under the direct purview of the central government of India.Form MD-7 is used to register prosthetic valve manufacturers in India and form MD-8 is used by prosthetic 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, the UK, the USA, and Australia.The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.The prosthetic heart valve devices and equipment market research report is one of a series of new reports that provides prosthetic heart valve devices and equipment market statistics, including prosthetic heart valve devices and equipment industry global market size, regional shares, competitors with a prosthetic heart valve devices and equipment market share, detailed prosthetic heart valve devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the prosthetic heart valve devices and equipment industry. This prosthetic heart valve devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06277199/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________