Transcatheter Heart Valves Market to Grow at 20% Between 2010 and 2017

FARMINGTON, CT, September 16, 2011

Global Information Inc. presents "Prosthetic Heart Valves - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017" by GlobalData.

The global transcatheter heart valves market is expected to grow at a CAGR of 20% from 2010 to 2017, to reach a market value of $691m in 2017. The market growth is driven by product approvals in the US, technology advancements and favorable reimbursements.

The launch of transcatheter heart valves in the US in the form of Medtronic's Melody transcatheter heart valve will boost market growth. This is the first device to achieve FDA (Food and Drugs Administration) approval under Humanitarian Device Exemption (HDE) in the US in 2010. The Edwards SAPIEN transcatheter heart 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. 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.

In addition, 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 prosthetic heart valves market , globally, is expected to grow at a compound annual growth rate (CAGR) of 8.2%, between 2010 and 2017, to reach a value of over $2.5 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. This is expected to make up for the declining mechanical heart valves market which will show 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.
Tissue Heart Valves Accounted for 66% of the Global Market Revenues in 2010

Tissue heart valves is the biggest segment within the prosthetic heart valves market and is the second fastest growing segment after transcatheter valves. The global prosthetic heart valves market has experienced a shift of preference from mechanical heart valves to tissue heart valves historically, and this trend will continue in the future as well.

Technological advancements for enhanced durability and improved efficiency and hemodynamics of tissue heart valves have contributed to the shift in preferences of heart valves from mechanical to tissue. Durability of the mechanical heart valves is its only advantages and is a key area where advancements are happening in the tissue valve segment. Advances in tissue heart valves which enhance their durability and efficiency are expected to drive higher demand for tissue heart valves among younger patients.

Edwards Lifesciences Corporation dominated the global prosthetic heart valves market, with a 38% share in 2010. Other players which include Medtronic, Inc., St. Jude Medical and Sorin Group, Braile Biomedica, CryoLife Inc. and AorTech International made up for the remaining share of 62%. 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 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, had a share of 23% of the global prosthetic heart valves market.

About the Report
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.
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