Market Trends of Global Prosthetic Heart Valve Industry
This section covers the major market trends shaping the Prosthetic Heart Valve Market according to our research experts:
Transcatheter Heart Valve Segment is Expected to Register Robust Growth During the Forecast Period
The transcatheter heart valve segment is expected to hold a significant share by type of valve. This can be attributed to various factors such as the high burden of heart valve diseases, ease of implantation, a rise in the number of transcatheter heart valve surgery centers, and growth of the patient population, leading to an increase in the number of transcatheter aortic valve replacement procedures. For instance, according to a research study published in February 2020, titled "Epidemiology of aortic valve stenosis (AS) and aortic valve incompetence (AI): is the prevalence of AS/AI similar in different parts of the world?", the epidemiology of aortic valve disease varies enormously between high-income and low-income countries, and there is an exponential increase in the prevalence of aortic stenosis (AS) with age, with 0.2% in the 50-59-year group, 1.3% in the 60-69-year group, 3.9% in the 70-79-year group, and 9.8% in those aged 80-89 years. As transcatheter heart valves are used in patients suffering from aortic valve stenosis and incompetence, such studies indicate that the demand for transcatheter heart valves is anticipated to increase shortly.
Several market players implement strategic initiatives, thereby contributing to segment growth. For instance, in January 2022, SMT (Sahajanand Medical Technologies Limited) reported the publication of Hydra Transcatheter Aortic Heart Valve CE study data in the JACC (Journal of the American College of Cardiology) Cardiovascular Interventions journal. This study evaluated the 30-day and 1-year safety and performance of the Hydra transcatheter aortic heart valve in treating symptomatic severe aortic stenosis in cardiac patients at high or extremely high surgical risk. The Hydra CE study has demonstrated that transcatheter aortic valve replacement with the Hydra valve offers favorable efficacy at one year, providing a large effective orifice area and low transvalvular gradient as well as acceptable complication rates.
Thus, the segment is expected to witness significant growth over the forecast period due to the abovementioned factors.
North America is expected to Dominate the Prosthetic Heart Valve Market
Within North America, the United States has held a significant share of the market. The major factors boosting the market's growth are the high prevalence of heart valve disorders; product advancements; the number of heart valve replacement procedures; and the well-established healthcare infrastructure. For instance, as per the 2022 American College of Cardiology Foundation, the prevalence of valvular heart diseases (VHD) is rising in the United States, with more than 5 million Americans diagnosed each year, while up to 1.5 million people suffer from aortic stenosis (AS) in the United States. Approximately 500,000 of these patients suffer from severe AS.
Several market players are also implementing strategic initiatives, fueling the market's growth. For instance, in September 2021, Abbott reported that the United States Food and Drug Administration (USFDA) had approved the company's Epic Plus and Epic Plus Supra Stented Tissue Valves to improve therapy options for people with aortic or mitral valve disease.
Moreover, in January 2022, Artivion, Inc., a leading cardiac and vascular surgery company focused on aortic disease, reported the publication of PROACT clinical trial results in The Annals of Thoracic Surgery, the official journal of the Society of Thoracic Surgeons. The magazine, titled Low-Dose Versus Standard Warfarin After Mechanical Mitral Valve Replacement: A Randomized Controlled Trial, highlighted outcomes from the multicenter, non-inferiority, a two-arm study that assessed whether, after an On-X mechanical mitral valve replacement (MVR), patients could be safely managed with lower-intensity warfarin plus aspirin. The PROACT Mitral results add to the data from clinical trials that indicate that patients with On-X heart valves can be safely maintained with lower anticoagulation levels than required for competitors' mechanical valves. Such developments are expected to fuel the market's growth in the country's demand for prosthetic heart valves.
Thus, the market is expected to grow during the forecast period due to the abovementioned developments.
