Bovine Pericardial Valve Market: Introduction
Pericardium is a double layered, tough membrane which covers the heart. Porcine and bovine pericardium is harvested and processed as a biomaterial and used in various clinical applications. Bovine tissues are harvested from a sac surrounding the heart of a cow. Bovine pericardium is used for applications including dural closure, dental membranes, surgical buttressing, and bio-prosthetic heart valves.
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Key Drivers and Opportunities of Global Bovine Pericardial Valve Market
Unhealthy lifestyle and change in dietary habits lead to developing the risk of cardiovascular diseases. Thus, increase in prevalence of cardiovascular diseases and congenital heart defects are anticipated to drive the segment. For instance, according to the American Heart Association, Inc. in 2016, estimated 2,303 deaths occurred from CVD each day. Congenital heart defect is one of the leading causes of mortality and it is the most common type of birth defects. For instance, according to the Center for Diseases Control and Prevention, estimated 1% or 40,000 births per year are affected due to congenital heart diseases in the U.S. and ventricular septal defect (VSD) is the most common heart defect.
Moreover, minimally invasive procedures are non-surgical procedures that facilitate minimal incision, shorter hospital stay, lesser complications after surgery, and faster recovery time. These factors increase the demand for minimally invasive surgeries. Thus, inclination toward minimally invasive surgeries is anticipated to drive the market.
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Furthermore, increase in survival rate of replacement procedures leading to rise in adoption of valves among surgeons and patients are the key factors attributed to the growth pericardial valve market
Rise in availability of advanced treatment options and specialty care services boosts the life expectancy rates across the world, and in turn, increases the geriatric population. For instance, according to the National Institutes of Health-funded bureau report, 8.5% of people across the world are aged 65 or more and it is likely to rise to 17% of the world’s population by 2050. The risk of cardiovascular diseases increases with age. Thus, surge in geriatric population is anticipated to boost the growth of the market.
Increase in awareness about disease prevention and improvement in health care infrastructure have been observed in emerging countries, owing to favorable government intervention. Emerging regions have witnessed socioeconomic development. However, these regions exhibit high unmet medical needs and rise in health care-related customer expectations. Prevalence of heart valve diseases in the emerging markets is high due to increase in population and changing lifestyles (such as food habits and environmental conditions). Investment in training programs for surgeons and to improve health care infrastructure are major opportunities for key players in these emerging markets. Furthermore, increase in demand for heart valve repair procedures offers growth opportunities for the market.
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North America to Capture Major Share of Global Bovine Pericardial Valve Market
North America is expected to account for major share of the global bovine pericardial valve market due to high prevalence of cardiovascular diseases and adoption of advance therapeutics. Furthermore, presence of key market players is likely fuel the growth of market
The bovine pericardial valve market in Asia Pacific is expected to grow at a rapid pace during the forecast period, owing to rise in awareness about cardiovascular diseases and surge in geriatric population. Furthermore, sedentary lifestyle leading to increased prevalence of diseases is likely boost the growth of the market in the region.
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Key Players Operating in Global Bovine Pericardial Valve Market
The global bovine pericardial valve market is highly concentrated due to the presence of key players. A large number of manufacturers hold major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global market. For instance, in July 2019, Shanghai MicroPort CardioFlow Medtech Co., Ltd received approval from National Medical Products Administration of China (NMPA) for VitaFlow Transcatheter Aortic Valve and Delivery System.
Major players operating in the global bovine pericardial valve market are:
· Abbott
· Boston Scientific Corporation
· Edwards Lifesciences Corporation
· Labcor Laboratórios Ltd
· LivaNova PLC
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