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Follow on Google News | Prosthetic Heart Valves - Global Pipeline Analysis, Competitive LandscapeThe Global Prosthetic Heart Valves Market is Expected to Grow at a CAGR of 8.2% from 2010 to 2017
By: Rajesh Gunnam compound annual growth rate (CAGR) of 8.2%, to reach a market value of $2.6 billion in 2017. This growth will be contributed to by the growth of the global tissue heart valves market at a CAGR of 7.2% and the transcatheter heart valves market at a CAGR of 20% for the period 2010–2017. The mechanical heart valves market is expected to decline at a CAGR of –1% over the same seven year period. The aging population and increasing patient population are expected to drive demand for prosthetic heart valve-based treatment in the future. Moreover, technological advancements such as enhanced durability and improved hemodynamics of tissue heart valves will further drive the growth of the market. The launch of transcatheter heart valves in markets such as the US and Japan will lead to further substantial growth in the global prosthetic heart valves market in the future The global prosthetic heart valves market is dominated by Edwards Lifesciences Corporation, with a 38% share. Other players which include Medtronic, Inc., St. Jude Medical and Sorin Group, Braile Biomedica, CryoLife Inc. and AorTech International make up 62% share of the global prosthetic heart valves market. Competition in the prosthetic heart valves market is intense and in order to maintain their competitiveness, companies are adopting strategies such as inorganic growth and product innovation. Product innovation continues to drive pricing, which acts as a huge barrier for new entrants in the market. Market players are also investing in expanding their product portfolios, resulting in their growing pipelines in the prosthetic heart valves market. The global transcatheter heart valves market has grown from $11.8m in 2007 to 194.6m in 2010 and is expected to grow at a CAGR of 20%, to reach a market value of $691m in 2017. The launch of transcatheter heart valves in the US will lead to substantial growth in the market. The Medtronic Melody transcatheter heart valve is the first device to achieve FDA (Food and Drugs Administration) valve, which is also expected to achieve pre-market approval by the FDA in 2011, is expected to be used for the treatment of inoperable aortic stenosis patients in the US. For Sample Pages, please click or add the below link to your browser: http://www.globaldata.com/ The easy implantation of transcatheter heart valves has led to their fast adoption across Europe. Products such as the Edwards SAPIEN transcatheter heart valve and the Medtronic-CoreValve have been well accepted in Europe and Australia. Technological advancements are also being made which involve reducing the diameter of the transcatheter heart valves so as to make their implantation easier and more efficient. Moreover, the growing patient population and the availability of reimbursement for transcatheter valve implantation procedures in Europe are expected to lead to the growth of the transcatheter heart valves market. The global prosthetic heart valves market was valued at $1,500.4m in 2010. The prosthetic heart valves market in Europe accounted for $657m and in the US it was valued at $501.7m in 2010. The transcatheter heart valves market in Europe accounted for $170.6m in 2010 and is responsible for Europe having a greater market share than the US. The launch of transcatheter heart valves in the US market will also lead to substantial growth in the market share of the US in the future. Other regions, such as Asia- Pacific, the Middle East and Africa and South America, have a share of 23% of the global prosthetic heart valves market, amounting to $341.7m in 2010. GlobalData’s new report, “Prosthetic Heart Valves - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global prosthetic heart valves market. The report provides market landscape, competitive landscape and market trends information on the prosthetic heart valves market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts For further details, please click or add the below link to your browser: http://www.globaldata.com/ Visit our report store: http://www.globaldata.com/ For more details contact: pressreleases@ North America: +1 646 395 5477 Europe: Asia Pacific: # # # GlobalData is a global market intelligence services company providing information research and analysis products and services. End
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