The heart valve devices market is expected to cross a US$ 16.2 Bn valuation by 2025, the end of the assessment period. The Fact.MR report states that the coronavirus outbreak will have a moderate impact on the heart valve devices market in the short term. While elective procedures are increasingly being delayed, the redirection of healthcare sector towards covid-19 patients will also hinder market growth for the near future.

"Sedentary lifestyles are boosting obesity rates, resulting in higher incidences of cardiac diseases propelling the heart valve devices market. Many patients are also left undiagnosed, resulting in progressive deterioration of cardiac function, causing heart failure and premature death. These factors will sustain market growth throughout the duration of the pandemic," says the Fact.MR analyst.

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Heart Valve Devices Market - Important Takeaways

Transcatheter heart valve devices are highly sought after owing to higher efficacy in minimizing patient mortality rates.
Hospitals are the primary end users of heart valve devices, owing to higher investments into facility infrastructure.
Asia Pacific is a fast-growing market for heart valve devices, owing to rapid improvements in healthcare infrastructure and higher incidences of cardiac disease.
Heart Valve Devices Market - Driving Factors

Rising preference for minimally invasive treatments for heart conditions, are supporting the demand for heart valve devices.
Rise in the global incidences of heart disease, arising from poor lifestyle choices is generating lucrative opportunities.
Frequent innovations in heart valve design and materials contribute significantly to revenue streams.
Heart Valve Devices Market - Leading Constraints

Poor efforts towards commercializing heart valve devices in emerging economies is hindering market growth.
Prohibitive expenses to purchase newer heart valve devices, hurts adoption rates.
Anticipated Market Impact by Coronavirus Outbreak

The coronavirus pandemic will affect the heart valve devices market in the short term. Healthcare resources are being redirected to caring for covid-19 cases. In addition, elective cardiac procedures are being postponed. Also, disruption of supply chains is moderately hampering production of heart valve devices, which will hinder market growth to an extent for the duration of the pandemic. However, the lifesaving nature of these devices will aid rapid market recovery, post the end of the pandemic.

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Competition Landscape

Leading producers in the heart valve devices market are JenaValve Technology Inc., Edward Lifesciences Corp., CryoLife Inc., Medtronic, Boston Scientific Corp., and Abbott Laboratories. Major manufacturers are focusing on research for product development. For instance, Abbott Laboratories has revealed its MitraClip system for transcatheter repair operations of the mitral valve.

More on the Report

The FACT.MR's market research report provides in-depth insights on heart valve devices market. The market is scrutinized according to type (mechanical heart valve, biological heart valve, and transcatheter valve), and end user (hospitals and ambulatory surgical centers) across five key regions (North America, Latin America, Europe, Asia Pacific, and Middle East and Africa).

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