The global “Heart Valves” Market is expected to reach USD 15.98 billion by 2026, on account of the advent of customized Heart Valvess. A Heart Valves allows blood to flow in only one direction through the heart. Blood passes through a valve before leaving every chamber of the heart. These valves helps to abstain the backward flow of blood. A recently published report by Fortune Business Insights™ titled, “Heart Valves Market Size, Share & Industry Analysis, By Product Type (Replacement (Aortic, Mitral, and Others), and Repair), By Valve Type (Tissue Valve and Mechanical Valve), By Procedure (Surgical and Transcatheter), By End User (Hospitals, and Specialty Clinics & Others), and Regional Forecast, 2019-2026” discusses the market and its growth parameters in details.
As per this report, the market value was USD 6.58 billion in 2018 and will rise at a CAGR of 11.7% between 2019 and 2026.
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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Increasing Popularity of Minimally Invasive Surgeries will Add Impetus
Rise in sedentary lifestyle, adoption of irregular eating habits and the increasing preference for ready-to-eat food have resulted in a number of cholesterol and obesity cases. This acts as a major Heart Valves market growth factor. Besides this, the rise in geriatric population and their vulnerability to various cardiovascular disorders is also expected to aid in expansion of the market in the forecast period.
However, the complications associated with Heart Valves repair and replacement surgeries may retract many patients from opting for this surgery. This may hamper the overall market growth. Nevertheless, the advent of latest technology, increasing popularity of minimally invasive surgeries, and launch of innovative products are expected to create lucrative growth opportunities for the market in the coming years.