Valvular Heart Disease Treatment Market Introduction
Pulmonic, aortic, mitral, and tricuspid
are the four types of heart valves, which control the flow of blood
across the heart chambers and their connecting arteries. Damage to any
of the valves can lead to valvular diseases. Valvular diseases are
treated by repairing or replacing the heart valves. Fatigue, swelling of
feet or ankles, dizziness, abnormal sound, and irregular heartbeat are
the symptoms of valvular heart disease. Valvular heart diseases can also
be caused due to infection or other heart conditions. Congenital heart
disease, heart failure, high blood pressure, and old age are the risk
factors for valvular heart disease.
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The global valvular heart disease
treatment market is highly consolidated with presence of few players
holding major share of the market. Key players are engaged in the
development of new products and technologies, extension of device
indications, and product approvals. Leading players operating in the
global valvular heart disease treatment market are Boston Scientific
Corporation, Cook Medical, B. Braun Melsungen AG, Neovasc, Inc.,
Medtronic, Abbott, LifeNet Health, LivaNova plc, Micro Interventional
Devices, Inc., Edwards Lifesciences Corporation, and CryoLife, Inc.
Founded in 1960, the US based Boston
Scientific Corporation is one of the key players operating in global
valvular heart disease market, offering products under its
cardiovascular business segment. It has a strong pipeline of innovative
valvular heart disease treatment products. In April 2019, Boston
Scientific Corporation received approval from the U.S. Food and Drug
Administration for LOTUS Edge Aortic valve system for minimally invasive
procedure.
Abbott is another key player operating in
the global valvular heart disease market with vast product portfolio.
Abbott has established its presence in the global market through
acquisition of St. Jude Medical in 2017. In January 2019, Abbott
acquired Cephea Valve Technologies, Inc. This acquisition enabled the
company to strengthen its position in valvular heart disease market.
Medtronic:
Medtronic offers its valvular heart
disease products under its Cardiac & Vascular Group (CVG). In 2018,
around 38% of the company’s revenue was contributed by its CVG business
segment. Medtronic has one of the industry leading portfolio of valvular
heart disease treatment products.
Valvular Heart Disease Treatment Market Dynamics
High prevalence of valvular heart disease:
Rise in prevalence of coronary artery
diseases, heart attack, and cardiovascular diseases is the major factor
projected to drive the global valvular heart disease treatment market.
Additionally, excessive consumption of alcohol and change in lifestyle
are anticipated to propel the global market during the forecast period.
Increase in adoption of minimally invasive techniques is another factor
expected to augment the global valvular heart disease treatment market.
According to the World Health
Organization, cardiovascular disease is one of the major causes of
deaths across the world. CVDs such as heart attack and stroke account
for 17.9 million deaths across the globe each year. Nearly 17.9 million
deaths occurred in 2012 across the world due to cardiovascular diseases.
High cost of products to restrain the market expansion
Implantable devices such as heart valves,
grafts and annuloplasty rings are the most recommended treatment
options for valvular heart diseases. Limited number of suppliers and
high precision and proprietary knowledge required for development and
deployment of this devices incurs high cost. Also in case of using
mechanical heart prosthetics, patients are on long term administration
of blood thinners or anti-coagulant drugs which further makes the
treatment expensive.
Valvular Heart Disease Treatment Market – Segmentation
The global valvular heart disease
treatment market can be bifurcated on the basis of product type,
treatment, application, and end-user
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