Prosthetic Heart Valves Market: Current Analysis and Forecast (2022-2028)

Prosthetic Heart Valves Market: Current Analysis and Forecast (2022-2028)

The prosthetic heart valve market is expected to register a CAGR of approx. 11% over the period of 2022-2028. A prosthetic heart valve is a surgically implanted artificial device used to replace damaged heart valves caused by heart valve diseases. Heart valves aid in the regulation of blood flow through the heart. Inadequate blood flow is caused by a malfunctioning heart valve, necessitating later prosthetic heart valve surgery. The growing demand for prosthetic heart valves can be attributed to the increasing number of individuals diagnosed with heart valve disorder coupled with the rising geriatric population. For instance, around 18 million Americans aged 20 and above have heart disease and nearly 650,000 Americans die of heart disease each year. According to the United Nations, in 2019, 13.2% of the worldwide population was aged 60 years or above. Further, it is anticipated that nearly 21.4% of the total worldwide population will be aged 60 years or over by 2050. Owing to the glaring statistics rise in the number of people with heart disease across the globe is leading to the growing demand for prosthetic heart valves and would contribute to the growth of the market in the forthcoming period as well. Furthermore, the prosthetic heart valve market is anticipated to grow on account of the increase in awareness regarding surgical treatment options, novel advancements in heart valves, and increasing government funding for heart valve research. However, some of the restraints in the market including the high cost of prosthetic heart valves are impeding the growth of this market all over the world.

• Based on the types of valves, the prosthetic heart valve market is segmented into transcatheter heart valve, tissue heart valve, and mechanical heart valve. The transcatheter heart valve segment accounted for a significant market share, and it is estimated that it will grow rapidly during the projected timeframe because of an increase in cardiovascular disease and a rise in demand for cardiac valve replacement therapy.
• Based on diseases, the market is fragmented into aortic valve diseases, mitral valve diseases, and pulmonary valve diseases. the aortic valve disease segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. This increase is mainly due to the high prevalence of AVD, which is the most common valvular heart disease worldwide.
• Based on end-users, the market is bifurcated into hospitals, ambulatory surgical centers, and others. The hospital segment accounted for a significant market share, and it is estimated that it will grow rapidly during the projected timeframe owing to the increasing construction of hospitals and a surge in the number of heart surgeries in the hospital setting.
• For a better understanding of the market adoption of prosthetic heart valves, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the prosthetic heart valve industry owing to the rise in medical expertise, new product launches, and government regulations that provide favorable reimbursement scenarios.
• Some of the major players operating in Edwards Lifesciences Corporation, Medtronic plc., Boston Scientific Corporation, Abbott Laboratories, LivaNova PLC, Artivion Inc, Braile Biomédica, Colibri Heart Valve LLC, JenaValve Technology Inc, Micro Interventional Devices Inc among others. Several M&A’s along with partnerships have been undertaken by these players to develop new supplements.