The Europe Prosthetic Heart Valve Market is expected to witness market growth of 10.5% CAGR during the forecast period (2022-2028).
Prosthetic heart valves (PHVs) are used to replace defective natural valves in patients with valvular incompetence, stenosis, or both. Due to variables, such as the aging population and the rising number of people diagnosed with heart valve disorders, heart valve replacement procedures are in high demand. Native heart valves that need to be replaced are increasingly being replaced with prosthetic heart valves. In terms of hemodynamics and side effects, the objective of a surgically implanted valve is for it to act like a natural valve (low thrombogenicity). Manufacturers have been able to build exceptionally effective, long-lasting prostheses with enhanced hemodynamics due to considerable technological advancements in recent years, resulting in a surge in the demand for artificial, or prosthetic, heart valves.
Countries in this region comprise one of the best healthcare infrastructures in the world. According to the International Trade Administration, the medical equipment market in Germany is very robust and well-established. Brands like Siemens, Carl Zeiss, and Dragerwerk can be linked to a long history of creating high-quality medical equipment, with a focus on diagnostic imaging, precision medical and dental tools, and optical technology. In addition, Germany has the world's third-biggest medical technology market, and also, the largest European market, twice the size of France and three times the size of Italy, the United Kingdom, and Spain. The German medical device sector is one of the most profitable in the world, accounting for around USD 35.8 billion per year, or 25.6 percent of the whole European market.
Moreover, Sweden has one of the best and most sophisticated healthcare systems in the world. Overall, the population of ten million people is in excellent health. Sweden spends approximately 11% of its GDP on health and medical services, which is comparable to the majority of other European countries. The infant mortality rate in the first year of life is less than 2.6 deaths per 1,000, and males have an average life expectancy of 80 years and women have an average life expectancy of 84 years. Due to the robust healthcare system along with a well-established medical equipment market, the adoption of prosthetic heart valves is estimated to spur in the region. The growth of the regional market is accelerated owing to this.
The Germany market dominated the Europe Prosthetic Heart Valve Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $878 million by 2028. The UK market is poised to grow at a CAGR of 9.5% during (2022-2028). Additionally, The France market is expected to display a CAGR of 11.3% during (2022-2028).
Based on End User, the market is segmented into Hospitals & Cardiac Centers and Ambulatory Surgical Centers & Others. Based on Product, the market is segmented into Transcatheter, Tissue, and Mechanical. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boston Scientific Corporation, Medtronic PLC, Abbott Laboratories, Meril Life Science Private Limited, Colibri Heart Valve LLC, Artivion, Inc., TTK Healthcare Limited, Edwards Lifesciences Corporation, JenaValve Technology, Inc., and Micro Interventional Devices, Inc.
By End User
Prosthetic heart valves (PHVs) are used to replace defective natural valves in patients with valvular incompetence, stenosis, or both. Due to variables, such as the aging population and the rising number of people diagnosed with heart valve disorders, heart valve replacement procedures are in high demand. Native heart valves that need to be replaced are increasingly being replaced with prosthetic heart valves. In terms of hemodynamics and side effects, the objective of a surgically implanted valve is for it to act like a natural valve (low thrombogenicity). Manufacturers have been able to build exceptionally effective, long-lasting prostheses with enhanced hemodynamics due to considerable technological advancements in recent years, resulting in a surge in the demand for artificial, or prosthetic, heart valves.
Countries in this region comprise one of the best healthcare infrastructures in the world. According to the International Trade Administration, the medical equipment market in Germany is very robust and well-established. Brands like Siemens, Carl Zeiss, and Dragerwerk can be linked to a long history of creating high-quality medical equipment, with a focus on diagnostic imaging, precision medical and dental tools, and optical technology. In addition, Germany has the world's third-biggest medical technology market, and also, the largest European market, twice the size of France and three times the size of Italy, the United Kingdom, and Spain. The German medical device sector is one of the most profitable in the world, accounting for around USD 35.8 billion per year, or 25.6 percent of the whole European market.
Moreover, Sweden has one of the best and most sophisticated healthcare systems in the world. Overall, the population of ten million people is in excellent health. Sweden spends approximately 11% of its GDP on health and medical services, which is comparable to the majority of other European countries. The infant mortality rate in the first year of life is less than 2.6 deaths per 1,000, and males have an average life expectancy of 80 years and women have an average life expectancy of 84 years. Due to the robust healthcare system along with a well-established medical equipment market, the adoption of prosthetic heart valves is estimated to spur in the region. The growth of the regional market is accelerated owing to this.
The Germany market dominated the Europe Prosthetic Heart Valve Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $878 million by 2028. The UK market is poised to grow at a CAGR of 9.5% during (2022-2028). Additionally, The France market is expected to display a CAGR of 11.3% during (2022-2028).
Based on End User, the market is segmented into Hospitals & Cardiac Centers and Ambulatory Surgical Centers & Others. Based on Product, the market is segmented into Transcatheter, Tissue, and Mechanical. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boston Scientific Corporation, Medtronic PLC, Abbott Laboratories, Meril Life Science Private Limited, Colibri Heart Valve LLC, Artivion, Inc., TTK Healthcare Limited, Edwards Lifesciences Corporation, JenaValve Technology, Inc., and Micro Interventional Devices, Inc.
Scope of the Study
Market Segments Covered in the Report:
By End User
- Hospitals & Cardiac Centers
- Ambulatory Surgical Centers & Others
- Transcatheter
- Tissue
- Mechanical
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Boston Scientific Corporation
- Medtronic PLC
- Abbott Laboratories
- Meril Life Science Private Limited
- Colibri Heart Valve LLC
- Artivion, Inc.
- TTK Healthcare Limited
- Edwards Lifesciences Corporation
- JenaValve Technology, Inc.
- Micro Interventional Devices, Inc.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Europe Prosthetic Heart Valve Market by End User
Chapter 5. Europe Prosthetic Heart Valve Market by Product
Chapter 6. Europe Prosthetic Heart Valve Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Boston Scientific Corporation
- Medtronic PLC
- Abbott Laboratories
- Meril Life Science Private Limited
- Colibri Heart Valve LLC
- Artivion, Inc.
- TTK Healthcare Limited
- Edwards Lifesciences Corporation
- JenaValve Technology, Inc.
- Micro Interventional Devices, Inc.
Methodology
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