Prosthetic heart valve market anticipates continued steady growth

The U.S. prosthetic heart valve market is expected to reach $6.3 billion by the end of 2016, according to a new report from Future Market insights, a New York-based market intelligence and consulting firm.

According to the firm’s findings, an increased prevalence of valvular heart disease (VHD) is a leading cause of the market growth. Regulatory approval for heart valves, integration of technological advancements and an increasing number of heart valve implantation procedures are other factors expected to influence revenue growth of the global prosthetic heart valve market in the next 10 years.

Hospital usage accounted for 75 percent market share of the global prosthetic heart valve market in 2015. Rising demand for quicker treatment options and remedies is expected to promote the revenue growth of this segment over the 10-year forecast period.

However, some factors have the potential to limit market growth. The high cost of transcatheter heart valves, the resulting procedure risks and complications and product recalls could hinder the overall growth potential of the prosthetic heart valve market.

Edwards Lifesciences Corporation, St. Jude Medical, Medtronic, Boston Scientific, Abbott Laboratories, SYMETIS, LivaNova, CryoLife, Braile Biomedica, Colibri Heart Valve and JenaValve Technology remain leading players in the valve replacement space, according to the report.