(Health-NewsWire.Net, November 01, 2017 ) The North America Prosthetic Heart Valves Market was worth USD 1.11 billion in 2016 and estimated to be growing at a CAGR of 12.66%, to reach USD 2.02 billion by 2021. Since the introduction of the first artificial valve in 1950, over 80 models of the same have been developed and used. A prosthetic heart valve is a device that is implanted in a patient suffering from valve failures in the heart or other heart diseases which put the patient at risk of heart failure. They are used as replacements for natural valves in the case of a valve failure and may be completely mechanical or bioprosthetic.
North America is presently the largest market share holder globally with over one-third of the total revenue of the market being generated from the region. Inspite of the large share, the growth rate for the region is one of the lower. This is to be expected due to developed nature of the region. It also makes it difficult for new companies to enter the market and thrive due to the dominance of the prevailing companies.
Market Conditions: The rise of the Prosthetic Heart Valves market is mainly driven by the intense competition among the key players in the market for better R&D. This along with the rise in government funding for the same and the surging incidence of heart disorders among people due to lifestyle changes serve as additional factors that bolster the market growth. In spite of the growing demand driving the market forward, it continues to be hampered by the high cost of valve replacements therapy and the regulations put up by the government regarding the use of tissue valves.
North America Prosthetic Heart Valves Market Segmentation: • By Type: Introduction, Mechanical Heart Valve, Tissue Heart Valve and Transcatheter Heart Valve • By Geography: Introduction, United States and Canada
Key Players: Several multinational companies operate in the prosthetic heart valve. The major market players in the North America market include • Corvia Medical • CardioKinetix • Biomerics LLC • Lepu Medical Technology • XELTIS BV • Comed BV • HLT • Meril Life Sciences • SYMETIS SA • Transcatheter Technologies GmbH
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