Bovine Pericardial Valve Market Insights with Upcoming Trends Segmentation, Opportunities and Forecast to 2028
A bovine pericardial valve is an artificial bio-prosthetic cardiac valve with a three-cusp structure made from chemically treated bovine pericardium on a suitable framework such as a titanium frame. A bovine pericardial valve is used to replace a diseased or faulty natural heart valve which allows unidirectional flow of blood.
Bovine Pericardial Valve Market: Drivers and Restraints
The growing demand generated due to the increasing incidence of cardiac and valve diseases owing to the increasing incidence of cardiopathies such as sinus node dysfunction and heart block are the prime drivers of the bovine pericardial valve market. Heart valve disease affects approximately 5 million Americans every year. Risk factors such as infections of the valves, rheumatic fever, heart attack, advanced heart failure or atherosclerosis, high cholesterol, high blood pressure, being overweight, autoimmune disorders including lupus, rheumatoid arthritis and others are driving a large market.
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According to the center for disease control and prevention, about 610,000 U.S. citizens die of heart disease each year. Coronary heart disease (CHD) is the major heart disease, resulting in over 370,000 deaths each year. The statistics also point to the fact that about 735,000 Americans suffer from a heart attack per year. Speaking in economic terms, heart disease costs about $200 billion each year to the U.S. exchequer, which includes the cost of health care services, medications, and lost productivity. Thus a large bovine pericardial valve market is well evident even to an untrained eye.
The demographic drivers of the bovine pericardial valve market are growing the older population, sedentary lifestyles leading to obesity, substance abuse, junk food and others. The growing incidence of diseases such as diabetes, hypertension and other autoimmune diseases are other drivers of the market. According to the center for disease control and prevention, almost 70 million Americans representing some 30% of the population suffer from hypertension.
Technological advancements resulting in product development such as the development of customized bovine pericardial valve is driving a faster bovine pericardial valve market adoption. Development of inert materials such as silicon is expected to result in growing functionality and market adoption owing to superior performance.
However, the high cost of the bovine pericardial valve, competition from drug therapy, scarcity of experienced surgeons, the lower per capita income of the developing world and the high risk of surgery is hampering the bovine pericardial valve market.
Bovine Pericardial Valve Market: Regional Wise Outlook
The global Bovine pericardial valve market can be classified into the following region: North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East, and Africa. North America, led by the U.S., is expected to account for the largest share in the global bovine pericardial valve market, owing to the large demand, large healthcare expenditure, and large per capita income in the region.
The Asia Pacific bovine pericardial valve market excluding Japan is projected to expand and dominate the scene in the near future, owing to the growing healthcare and large specialty hospitals.
China and India are anticipated to account for the major share of the Asia Pacific bovine pericardial valve market growth. Germany, France, and the U.K., are projected to be the largest drivers of the Europe Bovine pericardial valve market. The Middle East and Africa Bovine pericardial valve market is anticipated to be dominated by the Gulf economies of Saudi Arabia, Kuwait, UAE and Qatar.
Bovine Pericardial Valve Market: Market Participants
Some of the major vendors operating in the global Bovine pericardial valve market are Edwards Lifesciences, Medtronic, Meril Life Sciences Pvt. Ltd., Boston Scientific Corporation, Labor Laboratórios Ltda., Abbott, Colibri Heart Valve, St. Jude Medical, and others.
The global bovine pericardial valve report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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