Heart valves are medical devices used to treat heart diseases. They are used to replace diseased heart valves in patients. Heart valve devices are mostly used in the elderly demographic, because this age group suffers the most from valve disease. Heart valves are diversified into three categories - mechanical, tissue and biological types.
The global heart valve devices market will grow strongly as the market shows a strong growth rate due to the arrival of transcatheter aortic valve replacement (TAVR) devices, the introduction of new minimally invasive devices and the increase in number of surgeries and technological advancements.
Heart valve devices such as transcatheter aortic valve implant (TAVI) show high growth rate in all segments. The launch of transcatheter valves will also drive procedure volumes in patients where surgery was not possible earlier due to associated risks. In 2011 the Food and Drug Administration has given approval to the Edwards Life Science heart valve device named SAPIEN to make the process easy.
The global heart valve devices market is expected to grow at a Compound Annual Growth Rate (CAGR) of 7% over the period 2009-2016. The global market of heart valve devices was USD 1.26 billion in 2011. The market is expected to grow due to the durable nature of tissue heart valves, which will drive the market adoption among young patients and which are expected to reach USD 1.7 billion in 2015.
The major players in the heart valve devices market are Edwards Life Sciences, St Jude Medical and Medtronic which make up almost 70% of the total heart valve devices market.