Market Highlights
Barlow’s Syndrome is a condition in which there is an abnormality of the mitral valve of the heart. It is a condition in which the leaflets of the mitral valve swell into the left atrium of the heart as the valve closes during ventricular contraction. This abnormality prevents the valve from closing correctly, which causes it to leak.
The global Barlow’s Syndrome market is expected to grow at a CAGR of 9% during the forecast period.
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Regional Analysis
The Americas dominate the global Barlow’s Syndrome market owing to the rising geriatric population, increasing genetic disorders, and increasing number of injuries leading to infections. The Americas are further segmented into North America and South America. North America holds the largest market is owing to increasing number of geriatric population, rising number of cardiovascular disorders, and growing population. Additionally, a rising number of market players launching newer products, technological advancements, and market players wanting to expand their foothold is likely to drive the growth of the Barlow’s Syndrome market in the North American region. For instance, according to the National Centre for Chronic Disease Prevention (CDC), in 2015 around 630,000 Americans died of cardiovascular disorders.
Europe accounts for the second largest market due to rising cardiovascular diseases, increasing funds and increasing healthcare expenditure. For instance, according to the Eurostat, Germany incurred healthcare expenditure over EUR 321 billion in 2014. According to European Society of Cardiology (ESC), around Euro 196 billion was spend for CVD. Germany, France, and the U.K hold a significant share of the market due to increasing demand for technologically advanced devices and increasing awareness in terms of rare diseases, and rising overall growth of the medical device industry.
The Asia Pacific is the fastest growing Barlow’s Syndrome market across the globe, whose growth is attributed to the rising geriatric population, increasing prevalence cardiovascular diseases, and rapidly developing economies. For instance, according to ESCAPE (Economic and Social Commission for Asia and the Pacific), in the year 2016, approximately 12.4% of the population was 60 years and older, and is projected to increase to 1.3 billion people by 2050. Additionally, increasing healthcare expenditure and demand for new treatment options for rare diseases fuel the market growth. India and China are the major contributors to the market growth due to the rapid development of healthcare sector and increasing healthcare expenditure in these regions and increasing demand for diagnostic services.
On the other hand, the Middle East & Africa is expected to witness limited growth due to limited access to the healthcare resources and lack of awareness about rare diseases. In the Middle East, the growth of the market is driven by increasing availability of new diagnostic and treatment methods for various chronic diseases.
Segmentation
The global Barlow’s Syndrome market is segmented on the basis of type, treatment, diagnosis, and end-users.
On the basis of the type, the market is segmented as mitral valve stenosis, mitral valve prolapse, and mitral valve regurgitation.
On the basis of the treatment, the market is segmented into medications and surgery. Medications are further sub-segmented to beta-blockers and calcium blockers. The beta blockers further sub-segmented to atenolol and metoprolol. The calcium blockers are further sub-segmented into Verapamil and Diltiazem.
On the basis of the diagnosis, the market is segmented into X-ray, electrocardiogram, and echocardiogram.
On the basis of the end user, the market is segmented into hospitals & surgical centers, research institutes, and specialty clinics.
Key Players
Some of the key players in the barlows syndrome market are Abbott, Medtronic, Edward Lifesciences Corporation, CryoLife, Inc., Boston Scientific Corporation, Micro Interventional Devices, Inc., Lepu Medical Technology Co., Ltd Neovasc, Inc., Sorin Group, TTK HealthCare, JenaValve Technology, Inc. among others.
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