Prosthetic Heart Valve Market Size, Share & Trends Analysis Report By 2032

According to Vantage Market Research, the Global Prosthetic Heart Valve Market is estimated to be valued at USD 20.08 Billion by 2032 at an exponential CAGR of 11.13% in the next eight years.?

The increasing occurrences of heart diseases and growing regulatory approvals for new and advanced prosthetic heart valves are bolstering the prosthetic heart valve market's growth in coming years. According to the World Heart Federation 2022, 39 million individuals globally suffer from rheumatic heart disease. This illness occurs when rheumatic fever causes irreversible damage to the heart valves.?

Nowadays, many high-risk patients choose Transcatheter Aortic Valve Replacement (TAVR) over Surgical Aortic Valve Replacement (SAVR) as a less invasive option. The market is growing more quickly because of the advantages of TAVR over open-heart surgery. Thus, the rising usage of transcatheter aortic valve replacement is propelling the growth of the prosthetic heart valve market. For instance, the annual number of TAVR procedures performed in the United States is roughly 90,000, whereas worldwide is approximately 280,000. Out of them, approximately 50% utilize mechanical valves, and the other 50% use bioprosthetic valves.?

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Top Companies in Global Prosthetic Heart Valve Market

• Abbott Laboratories (U.S.),
• Medtronic PLC (Ireland),
• Meril Life Sciences (India),
• Boston Scientific Corp. (U.S.),
• Micro Interventional Devices Inc. (U.S.),
• Direct Flow Medical Inc. (U.S.),
• Edwards Lifesciences Corp. (U.S.),
• LivaNova PLC (UK),
• JenaValve Technology Inc. (U.S.),
• Cryolife Inc. (U.S.)?

Prosthetic Heart Valve Market Dynamics

With an aging population and growing occurrence of risk factors such as hypertension and diabetes, the demand for heart valve replacement procedures continues to rise. This trend requires proactive measures to develop healthcare infrastructure, expand access to specialized cardiac care services, and implement preventive strategies to mitigate the onset and progression of heart valve disorders. Moreover, collaborative efforts amongst healthcare stakeholders, inclusive of policymakers, healthcare companies, industry partners, and patient advocacy organizations, are vital to overcome the multifaceted demanding situations posed with the support of the growing prevalence of heart-related ailments and make sure equitable get admission to effective treatment options for all patients.?

Heart valves are costly; they typically cost between $25,000 and $35,000. As a result, payment is essential to the procedure's acceptability. The American Heart Association (AHA) pays for heart valve implantation treatments. The organization approved insurance for transcatheter heart valve replacement treatments in 2012, subject to specific requirements. The criteria include using an FDA-approved valve and implantation system, the patient's pre-examination by two cardiac surgeons working separately, and the patient's care before and after the procedure. The number of heart valve replacement surgeries performed in the United States is likely to rise as insurance coverage becomes increasingly accessible and more affordable.?

Key Highlights

• By the segmentation of the Product, the Transcatheter Heart Valve segment dominates the market with 40.6% of market share in 2023,
• Furthermore, based on the segmentation of Position, the Mitral Valve segment captured the largest market share of 37.5% in 2023,

Moreover, by the End User segmentation, the Hospitals dominated the market with significant market share of 73.2% in 2023,

North America generated the largest revenue share of more than 40.8% in 2023,

The Asia Pacific region is expected to have a substantial market share and be experiencing remarkable growth during the forecast period.?

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Top Trends in Prosthetic Heart Valve Market

Increasing government funding in research activities to perform clinical trials, investigate novel treatment approaches, and further improve the knowledge of heart valve problems are fueling the market in recent years.?

The growing utilization of minimally invasive surgical techniques for heart valve replacement procedures is rising a market demand. These procedures offer benefits such as minimize recovery times, lesser hospital stays, and reduce procedural risks compared to traditional open-heart surgery, driving the market growth.

The recent advancement in valve design, materials, and manufacturing processes is accelerating the growth of the prosthetic heart valve market in recent years. These developments include?tissue-engineered valves, bioresorbable valves, and transcatheter cardiac valves which provide better hemodynamic, durability, and anatomical compatibility, increasing treatment options and increasing adoption rates.?

Global Prosthetic Heart Valve Market Segmentation?

By Product

·???????? Mechanical Heart Valve

·???????? Tissue Heart Valve

o?? ??Stented Tissue Heart Valve

o?? ??Stent less Tissue Heart Valve

·???????? Transcatheter Heart Valve?

By Position

·???????? Mitral Valve

·???????? Aortic Valve

·???????? Other Positions?

By End User

·???????? Hospitals

·???????? Ambulatory Surgical Centers

·???????? Other End Users?

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Highlights from Segments?

Product Analysis

• The Transcatheter Heart Valve segment held a significant share of 40.6% in 2023 due to the high prevalence of heart valve diseases, the easy implantation process, the expansion of transcatheter heart valve surgery centers, and the increase in transcatheter aortic valve replacement procedures.
• THVs are considered a minimally invasive alternative to surgical aortic valve replacement (SAVR) for high-risk patients who are not eligible for SAVR.?
• Transcatheter aortic valve replacement (TAVR) is a novel surgical procedure that involves implanting a new aortic valve to restore the aortic valve's ability to flow blood for high-risk SAVR patients. ??

Position Analysis

• The Mitral Valve segment held a market share of more than 36.2% in 2023. The requirement for mitral valve replacements is propelled by the growing incidence of mitral valve disorders, including mitral regurgitation and stenosis. These diseases are more prevalent among the elderly, and as the population ages, the number of patients needing mitral valve replacements is likely to rise.
• To make mitral valve treatments safer and more effective, companies are also concentrating on R&D investments to develop and launch various new and technologically advanced products and on mergers & acquisitions to increase their market share.?

End User Analysis

• In 2023, the Hospitals segment held the most significant market share, accounting for 73.2%. owing to their significant role as primary healthcare supplier for patients requiring prosthetic heart valve replacements.
• Hospitals frequently serve as centers of excellence for cardiovascular care, drawing patients seeking state-of-the-art treatments and specialized care from renowned cardiac surgeons and multidisciplinary teams of healthcare professionals.
• The growing emphasis on hospital-based healthcare delivery in accelerating the ever-increasing burden of cardiovascular diseases and meeting the diverse clinical needs of patients requiring prosthetic heart valve interventions is also responsible for the segmental growth of the market.

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Recent Development of the Global Prosthetic Heart Valve Market

In March 2022, the U.S. Food and Drug Administration (FDA) has approved Edwards Lifesciences's MITRIS RESILIA valve, a tissue valve replacement optimized for the mitral position in the heart.

In January 2022, JenaValve Technology Inc., the inventor and producer of unique transcatheter aortic valve replacement (TAVR) devices, has announced a strategic investment and exclusive technology licensing agreement with Peijia Medical Limited in China. Peijia has entered into an agreement with JenaValve whereby the former has agreed to provide exclusive rights to develop and commercialize JenaValve's innovative TrilogyTM TAVR systems in the Greater China region for the treatment of patients suffering from either severe symptomatic aortic regurgitation (AR) or severe symptomatic aortic stenosis (AS).?

Key Questions Answered in Prosthetic Heart Valve Market Report

• What is the current size and growth rate of the Prosthetic Heart Valve market?
• What are the key drivers and challenges affecting the market?
• How is the Prosthetic Heart Valve market segmented (e.g., by product, position, end-user)?
• What are the market trends within each segment?
• What are the key factors influencing the demand for Prosthetic Heart Valve?
• How are regulatory changes impacting the market?
• Who are the major players in the Prosthetic Heart Valve market?
• What is the market share of each player?
• How are consumer preferences and behaviors impacting the Prosthetic Heart Valve market??

Regional Analysis

North America accounted to have the largest revenue share of 40.8% in 2023. The frequent occurrence of heart valve problems, product developments, the number of heart valve replacement surgeries, and the well-established healthcare system are the primary factors contributing to this region's growth.

For instance, according to the American College of Cardiology Foundation for 2022, the number of Americans with valvular heart disorders (VHD) is increasing, with over 5 million new cases reported per year and up to 1.5 million Americans with aortic stenosis (AS). Out of these patients, almost 500,000 have severe AS.

Various companies' strong presence is augmenting the market's growth in this region. These companies provide a diverse range of product offerings, engage in R&D and innovation, and prioritize marketing campaigns in order to strengthen their market position.

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