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Aortic valve market dynamics reveal a set of influences: novel approaches in cardiovascular medicine that are in constant flux, along with the rise in a population that believes in a preventive lifestyle. Nowadays as the population ages and is getting more and older the aortic valve defects, like aortic stenosis, are getting more frequent and in need of improved and more accurate treatment options. The main pull of this market is the increasing number of cardiovascular diseases, in particular by older people. Along with the increase of global ageing population, the frequency of aortic valve-related diseases is also predicted to rise which in turn is likely to boost the requirement for efficient and minimally invasive methods of treatment.
The technological progress of aortic valve replacement and repair treatments immensely influences market behavior. Transcathether Aortic Valve Replacement (TAVR) has become a wonderful technique since it gives a less invasive option compared to the conventional heart open operation. The introduction and improvement of TAVR technologies have expanded the selection of invaluable treatments for patients, also reducing their overall risk of the procedure in most scenarios. The market moving towards the use of minimal or invasive procedures is the result of many positive factors such as a quicker recovery time and better patient outcomes.
The economic reality demonstrates that collaborations and strategic partnerships between medical device manufacturers and healthcare institutions are the primary factor in determining the aortic valve market. Such collaborations represent a platform for the exchange of expertise, resources, and technology, which eventually lead to the development of novel solutions in a patient-centered application. Also, collaborating with regulatory agencies and reimbursement bodies can accelerate paces of approval and the usability increase of aortic valve technologies. Working together between industry agents and health providers is of critical importance for the provision of low-cost and available next-level aortic valve medicinal care.
Also, market phenomena are depending on an improving recognition of the significance of early detection and a version in aortic valve diseases. Awareness and educational initiatives being directed to the healthcare professionals and the general public are very much crucial in early diagnosis and treatment. This continuous awareness of the susceptibility of young age groups for CVD related issues encourages the prevention practices of Aortic Valve interventions and imparts a receptive ecosystem.
Besides that research and investment in resource and development part of the market develops the aortic valve market. That is, improving the lifespan of materials and their biocompatible compatibility and the engineering of novel types of prosthetic valves is a only field of innovation. It is crucial to constantly improve the durability and functionality of the aortic valve replacements so that the expectations of the patients of different ages and degrees of sickness can be met.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Valve Type, Surgery Type, End-User And Region Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW) Key Vendors Boston Scientific Corporation, Medtronic, Abbott Laboratories, LivaNova PLC, Edwards Lifesciences Corporation, CryoLife, Biotronik, Colibri Heart Valve, JenaValve, TTK HealthCare Key Market Opportunities Adoption of minimally invasive surgeries Key Market Drivers· Innovative and easy to use product launches· High investment in research and development of efficient solutions· Increasing healthcare expenditure |
Aortic Valve Market Highlights:
Global Aortic Valve Market Overview
The Aortic Valve Market is expected to reach USD 11.3 Billion 2032, at CAGR of 10.8% during the period of 2023 to 2032. There has been significant growth in the adoption of minimally invasive surgeries in the past few years, which is why demand for aortic valves is also increasing. The key players involved in this market are actively focusing upon building partnerships, collaborations, and joint ventures with hospitals and ambulatory centers in different countries to strengthen their position in the market. Moreover, there is an increasing growth in cardiovascular diseases, which pushes the need for efficient aortic valves in the developing as well as underdeveloped regions.
Market Influencer
Several government authorities and associations from developed and developing regions have focused on increasing awareness about valve replacement procedures is contributing to the growth of the market. For instance, the European Society of Cardiology organizes ESC Congress where heart experts from more than 150 countries come together to attend scientific sessions.
Aortic Valve Market Trends
Market Drivers
- The increasing geriatric population is directly attributing to rising cardiac complications. According to the United Nations, in 2017, more than 960 people were aged 60 or above across the globe
- The growing prevalence of cardiovascular disorders is providing favorable conditions for rising cardiac surgeries and eventually it is responsible for increasing demand for the aortic valve. For instance, Moreover, according to the European Cardiovascular Disease Statistics 2017, each year cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU)
- Innovative and easy to use product launches in recent years
- High investment in research and development for the development of efficient solutions
- Increasing healthcare expenditure in developing countries is likely to provide favorable conditions for the growth of the market
- Rising support from regulatory authorities to control cardiovascular diseases
Market Restraints
- Product recalls due to the safety concerns are likely to hamper the market growth
- Stringent regulatory landscape for approval of aortic valves
Aortic Valve Market Segment Insights
Aortic Valve Valve Type Insights
- Mechanical: Mechanical valve is the most common type used in the aortic valve replacement procedures. It is made up of plastic or metal and has a longer life than tissue valves. On-X Prosthetic Heart Valves, Medtronic open pivot, Abbott Regent are some well-known brands of mechanical valves. This segment is likely to hold the largest market share owing to the increasing number of transcatheter aortic valve in replacement procedures
- Biological: The biological valves segment is expected to be the fastest-growing segment due to the rising adoption of biological valves and increasing prevalence of aortic stenosis in Western countries. According to the MRFR analysis, the prevalence of aortic stenosis in European countries is 0.2% in adults aged 50 to 59, 1.3% in adults aged 60 to 69, and up to 9.8% in patients 80 to 89.
Aortic Valve Surgery Type Insights
- Minimally invasive surgeries: This segment is estimated to hold maximum market share during the forecast period. The growth of this segment is attributed to the growing popularity of transcatheter aortic valve replacement due to the shorter hospital stays, less pain, and faster recovery as compared to other procedures. For instance, according to the Society of Thoracic Surgeons/ACC Transcatheter Valve Therapy (TVT), in the US, the number of TAVR procedures performed increased from 5,000 in 2007 to 50,000 in 2017.
- Open surgery: Open surgeries are the most common procedures in aortic valve replacement. This segment holds significant market share during the forecast period due to the cost-effectiveness of open surgeries.
Aortic Valve End-User Insights
- Hospitals: The majority of the aortic valve replacement is surgically performed in hospitals. Thus, hospitals are major consumers of aortic valve replacement products. The market growth of the segment is majorly attributed to the increasing number of patients getting monitored with cardiovascular diseases, growing installation of cardiac valves, and the rising rate of cardiovascular procedures.
- Ambulatory Surgery Centers: Ambulatory centers provide medical care on an outpatient basis, including diagnosis, observation, consultation, treatment, intervention, and rehabilitation services. Sometimes these centers can include advanced medical technology and procedures even when provided outside hospitals.
- Others: It includes specialty centers, surgical centers
Aortic Valve Region Insights
- Americas: Americas is estimated to be the largest regional market owing to the presence of prominent players in the major countries in America. Major market players such as Boston Scientific Corporation, Medtronic, Abbott laboratories, and Edwards Lifesciences Corporation have a significant presence in the Americas. The region is anticipated to dominate the global aortic valve market owing to the rising prevalence of cardiovascular diseases in the region. According to the American College of Cardiology Foundation, in 2017 approximately 356,461 Americans had an out-of-hospital cardiac arrest.
- Europe: The European region holds the second largest share as there is increasing support from regulatory authorities to control cardiovascular diseases. Moreover, the growing prevalence of heart diseases in the region has led to an increase in adoption of aortic valves.
- Asia-Pacific: The Asia-Pacific region is anticipated to be the fastest-growing region in the global aortic valve market. This region is witnessing a surge due to the increasing geriatric population and changing lifestyle in developing countries such as India. According to the World Bank Group, Japan has the largest number of geriatric populations accounting for around 27.8% of the total population. Additionally, the increasing healthcare expenditure in this region is anticipated to drive growth in the market.
- Middle East & Africa: The smallest market due to limited healthcare infrastructure and limited exposure to innovative solutions.
Key Players
- Boston Scientific Corporation
- Medtronic
- Abbott Laboratories
- LivaNova PLC
- Edwards Lifesciences Corporation
- CryoLife
- Biotronik
- Colibri Heart Valve
- JenaValve
- TTK HealthCare
- Others
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