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.
Valvular Heart Disease Treatment Market – Competition Landscape
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.
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Boston Scientific Corporation:
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 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.
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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
In terms of product type, the global valvular disease treatment market can be segmented into:
- Implantable Devices
In terms of treatment, the global valvular heart disease treatment market can be classified into:
In terms of application, the global valvular heart disease treatment market can be divided into:
- Congenital Heart Disease
- Valve Stenosis
- Valve Regurgitation
In terms of end-user, the global valvular heart disease treatment market can be classified into:
- Ambulatory Surgical Centers & Hospitals
- Specialty Clinics
The report on valvular heart disease treatment market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The valvular heart disease treatment market report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The valvular heart disease treatment market report also maps the qualitative impact of various market factors on valvular heart disease treatment market segments and geographies.
Regional analysis for walking standers market includes:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
North America dominated the global market in 2018. This is attributed to various factors such as presence of leading players, technological advancements, and rise in prevalence of cardiovascular diseases. According to the American Heart Association, 92.1 million people in the U.S. were suffering from cardiac diseases in 2018. The market in Europe is driven by rise in prevalence of heart diseases and increase in demand for minimally invasive procedures. According to the European Heart Network AISBL, around 3.9 million deaths occur due to cardiovascular diseases in Europe every year. The valvular heart disease treatment market in Asia Pacific is projected to grow at a rapid pace during the forecast period due to rise in prevalence of heart attack due to change in lifestyle.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.