asia pacific bovine pericardial valve Market

The Asia Pacific bovine pericardial valve market is expected to reach US$ 819.03 million by 2027 from US$ 366.27 million in 2019. The market is estimated to grow at a CAGR of 10.7% during 2020–2027.

The bovine pericardial valve market is growing primarily due to the increasing incidence of cardiovascular diseases (CVD) and congenital heart diseases (CHD) and advantages of tissue-based heart valves over mechanical valves in the Asia Pacific region. Factors such as limitations associated with the tissue-based valves damage the growth of the market. Additionally, developing healthcare industry and growing reimbursement of the cardiac valve are likely to fuel the growth of the bovine pericardial valve market during the forecast period.   

A bovine pericardial valve is also known as a bioprosthetic valve, and it is used for applications such as bio-prosthetic heart valves, dural closure, bone and dental membranes, and surgical buttressing. A bovine pericardial valve is made from collagen and other metallic material or alloy, which provides strength and elasticity.

Congenital heart diseases (CHD) are a major cause for mortality and morbidity. These diseases are usually defined as clinically significant structural heart diseases that occur from the birth. CHD comprises the most common types of birth defects. However, with the advancement in medical science, people suffering from CHD are able to live longer and healthier. For instance, with the increasing birth rate in India, prevalence of congenital heart disease is also at its peak as 9 out of 1000 babies have CHD. The estimated number of children born with CHD is more than 200,000 per year. Of these, about one-fifth are likely to have serious defect, requiring an intervention in the first year of life.

Similarly, the cardiovascular diseases (CVD) also pose a significant threat to human health and lead to a remarkable burden on developed economies. For Instance, cardiovascular diseases (CVDs) have become the leading cause of mortality in India. Ischemic heart disease and stroke are the predominant causes and are responsible for >80% of CVD deaths. The Global Burden of Disease study estimate of age-standardized CVD death rate of 272 per 100 000 population in India is higher than the global average of 235 per 100 000 population. Premature mortality in terms of years of life lost because of CVD in India increased by 59%.

Countries in Asia-Pacific are expecting to witness huge challenge due to growing COVID-19. Considering the economic operations and geographic condition, the outbreak of disease has affected on medical tourism, manufacturer of medical devices, supply chains, distributors and other problems posed by shortage of healthcare infrastructure in Asia-Pacific low-income countries. This has resulted in adverse influence on all industries including medical devices concerning cardiovascular and congenital heart diseases.

In 2019, the aortic segment held the largest share of the market and is expected to grow at the fastest CAGR during the forecast period. This segment is likely to witness a lucrative growth owing to increasing development in transcatheter aortic valve implantation procedures leading to progressively large number of patients undergoing the surgery. Moreover, these surgical procedures are now been that contributes as another factor for the growth of the segment.

A few of the significant secondary sources associated with the Asia Pacific bovine pericardial valve market report World Health Organization (WHO), United Nations Educational, Scientific and Cultural Organization (UNESCO), India Brand Equity Foundation (IBEF), World Bank, and others.