Global prosthetic heart valve market to touch $4.46 bn by 2020

The global market for prosthetic heart valves, including mechanical, tissue, and transcatheter valves, will nearly double in value from an estimated $2.28 billion in 2014 to reach $4.46 billion by 2020

heart-organ

(Photo Courtesy: www.inhabitat.com)

This is driven by the rising prevalence of valvular heart disease, an aging population and technological advancements in the field of interventional cardiology, says GlobalData.

The company's latest report states that across the 10 major markets, namely the US, France, Germany, Italy, Spain, UK, Japan, India, China and Brazil, expansion will occur fastest in Germany, at a Compound Annual Growth Rate (CAGR) of 16.6%, as the country spearheads the adoption of transcatheter aortic valve replacement (TAVR) devices.

According to Mr Premdharan Meyyan, GlobalData's analyst covering medical devices, Germany is expected to see an increase in its transcatheter and tissue valve market value, while the mechanical valve market value is expected to decrease, thanks to a steady decline in the procedure volume for both mechanical aortic and mitral valve replacement.

He commented, "Germany is the largest European market for prosthetic heart valves and is a leading center for technological innovation, home to early adopters of new and innovative devices. As such, TAVR cases in Germany are expected to increase rapidly because the country has historically been receptive to interventional products."

Germany's overall prosthetic heart valve market is expected to grow in total value from just under $399 million in 2013 to around $1.16 billion by 2020, of which transcatheter heart valve replacements will constitute approximately $1 billion.

 

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