Aortic Valve Market and its Growth Prospect in the Near Future

Aortic Valve Market by Overview, Growth Opportunities, Size, Share, Demand, Application, Manufacturing Cost Structure Analysis, Regional Outlook and Industry Insights
 
 
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Aortic Valve Market

Industry:
Medical

Location:
Albany - California - US

Subject:
Earnings

ALBANY, Calif. - Nov. 20, 2019 - PRLog -- The increasing number of valvular heart disease (VHD) cases, growing efforts to generate awareness about the same among the populace, and favorable medical reimbursement policies are driving the aortic valve market (https://www.psmarketresearch.com/market-analysis/aortic-valve-market) across the globe. It is being expected that during the forecast period (2018–2023), the market will progress with a CAGR of 10.3%. At this rate, the revenue generated from the sale of such devices would grow from $5.6 billion in 2017 to almost $9.9 billion 0in 2023.

Therefore, as the geriatric population increases across the world, so will the prevalence of VHD, which will continue driving the aortic valve market during the forecast period. Government initiatives being taken to raise the awareness of VHD are also playing an important role in the market growth. For instance, the Alliance for Aging Research, in 2017, designated February 22 as the National Heart Valve Disease Awareness Day in the U.S. The aim behind this was to make people aware of the risk factors and symptoms of the disease for faster detection and treatment.

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Of the two types of procedures for aortic valve (https://www.psmarketresearch.com/market-analysis/aortic-v...) replacement, viz. open surgery and minimally-invasive surgery (MIS), the valves transplanted via MIS dominated the market in 2017 in terms of value. Further, even in MIS, there are two main approaches: transfemoral and transapical. Of these, the transfemoral approach consumed valves in the larger amount, contributing $2,397.8 million in revenue to the aortic valve market in 2017. It is further being predicted that the sale of aortic valves for transfemoral MIS will generate a revenue of $4,897.5 million by 2023.

Therefore, it is clear that the increase in the prevalence of VHD, driven by the growth of the geriatric population, will bode well for the market for aortic valves.

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Tags:Aortic Valve Market
Industry:Medical
Location:Albany - California - United States
Subject:Earnings
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