The global prosthetic heart valves market is projected to reach USD 8.86 billion by 2022, at a CAGR of 12.9 percent from 2017 to 2022, states Research and Markets. The major factors driving the growth of this market include the rising geriatric population and the subsequent increase in the prevalence of HVD, regulatory approvals for new and advanced prosthetic heart valves, increasing government funding for heart valve research, rising awareness about HVD, and favorable reimbursement scenario for prosthetic heart valves.
The transcatheter heart valves segment is expected to register the highest CAGR over the next 5 years. Factors such as the rising prevalence of aortic stenosis, increasing pool of patients owing to approvals for extended valve indications, and technological advancements are supporting the growth of this segment.
In 2017, North America is expected to dominate the prosthetic heart valves market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). This regional segment is also projected to register the highest CAGR during 2017–2022. Factors such as the rapid growth in the aging population and prevalence of valvular heart diseases, favorable reimbursement scenario, and rising product approvals for heart valves are contributing to the growth of the North American prosthetic heart valves market.