Bovine Pericardial Valve Market to reach US$ 4,134.40 million in 2027 and to grow at a CAGR of 9.9% says, The Insight partners
According to our new market research study on "Bovine Pericardial Valve Market to 2027 - Global Analysis and Forecast by Valve Type Alloy, and End User, the market is expected to reach US$ 4,134.4 million by 2027 from US$ 1,959.7millionin 2019; it is estimated to grow at a CAGR of 9.9% from 2020 to 2027. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth.
Bovine pericardial valves, also known as bio prosthetic valves, are used as bio prosthetic heart valves, Dural closures, bone and dental membranes, and surgical buttress. The valves are made from collagen and metallic materials or alloys, which provides strength and elasticity. Increasing incidence of cardiovascular diseases (CVDs) and congenital heart diseases (CHDs), and advantages of tissue-based heart valves over mechanical valves are the major factors contributing to the growth of the global bovine pericardial valve market. However, the market growth is restrained by the limitations associated with the tissue-based valves.
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Bovine Pericardial Valve Market Competitive Landscape and Key Development
Medtronic, Edwards Lifesciences Corporation, Boston Scientific Corporation, Abbott, LivaNova PLC,Braile Biomedica, Meril Life Sciences Pvt. Ltd., Valcare Medical, Labcor, andAFFLUENT MEDICAL SA.,are among the leading companies operating in the bovine pericardial valve market.
Advantages of Tissue Valves over Mechanical Valves
Tissue valves, also known as bio prosthetic valves or biological valves, are a parent product category of bovine pericardial valves, and they are composed of either animal or human tissues. These valves can be used in minimally invasive surgeries and open-heart surgeries. The use of tissue valves eliminates the need for lifelong warfarin therapy to prevent the development of blood clots, which is its major advantage over mechanical valves. Moreover, the tissue valves do not require long-term blood thinner therapy; this reduces the risk of stroke or embolism among patients. Moreover, post heart valve replacement surgery, the tissue-based valves help restore the blood flow, lower the risk of bleeding, and allow patients to return to a relatively normal lifestyle.
The bio prosthetic valves are an ideal choice for geriatric heart patients. Elderly people are more vulnerable to the bleeding caused as side effects of warfarin therapy. They are also less likely to outlive their new valves. The tissue-based valves are preferable for patients with decreased life expectancy and high risks of bleeding, such as those suffering from dialysis-dependent kidney diseases. Thus, the advantages of tissue-based bio prosthetic heart valves, such as bovine pericardial valves, over mechanical valves foster the market growth.
In 2019, the aortic segment held the largest share of the market based on valve type; the segment is expected to register the highest CAGR during the forecast period. The market for this segment is likely to witness lucrative growth owing to continuous developments intranscatheter aortic valve implantation procedures, leading to progressively large number of patients undergoing the surgery. Moreover, these surgical procedures are now been reimbursed by the Centres of Medicare and Medicaid(CMS) in the US. The expected introduction of such reimbursement policies another countries in the world would contribute to the growth of the market for aortic valves in other countries in the coming years.
Bovine Pericardial Valve Market: Segmental Overview
The global bovine pericardial valve market, based on alloy, is segmented into cobalt-chrome, titanium, nickel-molybdenum, and others. The cobalt-chrome segment held the largest share of the bovine pericardial valve market in 2019.However, the titanium segment is anticipated to register a significant CAGR during2020–2027.
The global bovine pericardial valve market, based on end user,is segmented into hospitals, cardiac centres, and ambulatory surgical centres. In 2019, the hospitals segment accounted for the largest share of the market. However, the cardiac centres segment is expected register the highest CAGR from 2020 to 2027.
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