The global bovine pericardial valve market is expected to reach US$ 4,134. 40 million by 2027 from US$ 1,959. 71 million in 2019;the market is estimated to grow at a CAGR of 9. 9% from 2020 to 2027. Increasing incidence of cardiovascular diseases (CVDs) and congenital heart diseases (CHDs), and advantages of tissue-based heart valves over mechanical valves are among the major factors boosting the growth of the market.
New York, July 22, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bovine Pericardial Valve Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Valve Type, Alloy, End User, and Geography" - https://www.reportlinker.com/p05932660/?utm_source=GNW
However, the limitations associated with tissue-based valves restrain the market growth.
CHDs are a major cause for mortality and morbidity worldwide.These conditions are usually acquired by birth and are defined as clinically significant structural heart diseases.
However, with the advancements in medical science, people suffering from CHDs are now able have longer and healthier lives. According to the Centers of Disease Control and Prevention (CDC), these diseases affect ~1% of newborns,i.e., ~40,000 births, in the US. Among these, ~25% of patients exhibit severe symptoms and require surgery or other procedures in the early stages of their lives. According to the Mended Hearts, a US-based non-profit organization, in the US,~100-200 newborns die due to unrecognized heart diseases each year. The incidence of these diseases is also greater in various other countries worldwide. For instance, according to a survey published by the International Open Access Journal Covering Cardiovascular Medicine and Surgeryin 2018, in Germany, ~5-8 newborns per 1000 births suffer from CHDs.
Similarly, CVDs also pose a significant threat to human health and lead to a remarkable burden on the heath systems of developed as well as developing economies worldwide. According to the World Health Organization (WHO), CVDs are the major cause of death across the world as the diseases accounted for ~17.9 million deaths in 2018. Access to essential care for noncommunicable diseases such as CVDs through medications and surgical treatments helps save millions of lives every year. The increasing incidence of these diseases worldwide is expected to augment the demand for bovine pericardial valvesin the coming years.
The global bovine pericardial valve market is segmented on the basis of valve type, alloy, and end user.Based on valve type, in 2019, the aortic segment held the largest share of the market and is expected to register the fastest CAGR during the forecast period. Themarket for this segment is likely to witness lucrative growth owing to continuous developments in transcatheter aortic valve implantation procedures, leading to progressively large number of patients undergoing the surgery. Moreover, these surgical procedures are now been reimbursed by the Centers of Medicare and Medicaid (CMS) in the US.The expected introduction of such reimbursement policies in other countries in the world would contribute to the growth of the market for aortic valves in other countries in the coming years. On the basis of alloy, the market is segmented into cobalt-chrome, titanium, nickel-molybdenum and others. Based on end user, the market is segmented into hospitals, cardiac centers, and ambulatory surgical centers.
The CDC, WHO, CMS, Organization for Economic Co-operation and Development (OECD), Texas Heart Institute, and National Institute of Healthcare a few of the essential secondary sources referred to while preparing this report.
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