Revenue of Heart Valve Devices Market Estimated at US$ 26.3 Mn by 2031, TMR Study

·5 min read
Transparency Market Research
Transparency Market Research

Increasing regulatory approvals for new and advanced prosthetic heart valves for the increasing incidence of both congenital and non-congenital heart defects strengthens demand for heart valve devices

Albany NY, United States, May 24, 2022 (GLOBE NEWSWIRE) -- The heart valve devices market is projected to clip a CAGR of 11.9% for the forecast period from 2022 to 2031. Substantial R&D for the introduction of new heart valve devices for minimally invasive procedures is fueling the growth of heart valve devices market. Growth prospects of heart valve devices market appear strong from next-gen heart valve devices that offer lower delivery requirement, more controlled placement, reduced paravalvular regurgitation, improved valve function, increased durability, and lower cost.

Clinically, heart valve devices are mainly used to fix the valve damage. Transcatheter heart valves, biological heart valves, and mechanical heart valves are some key types of products of global market for heart valve devices used to fix valve damage.

Nonetheless, interventional treatments for structural defects are still at nascent stage with immense scope of advancement. Smart design, new technologies, and novel biomaterial applications continue to push the boundaries of new product development, and thus ensure that these devices are at the forefront of interventional product innovation for cardiovascular conditions.

In order to serve this, heart valve devices manufacturers are striving to introduce products made of synthetic material with increased efficacy, durability, reproducibility, and perform similar mechanical functions to that of native valves, and reduce dependency on antithrombotic and anticoagulant therapies.

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Heart Valve Devices Market – Key Findings of the Report

  • Increasing incidence of cardiovascular disorders related to physical inactivity, lifestyle-induced diet, and other habits such as smoking leading to increasing regulatory approvals for new and advanced prosthetic heart valves is fuelling the demand for heart valve devices

  • Growing inclination for minimally invasive heart surgeries is driving manufacturers to develop technologically advanced and minimally invasive heart valve devices

  • Demand for mechanical heart valve devices is expanding at an accelerated pace due to their advantage of longer life expectancy

  • Massive investments from governments to modernize their healthcare infrastructure for better quality of treatment to open growth opportunities in heart valve devices market

  • Transcatheter aortic valve segment is anticipated to lead the heart valve devices market during the forecast period. Initiatives of several governments to increase knowledge about heart valve replacement surgeries combined with growing inclination for minimally invasive surgeries are fuelling the demand for heart valve devices

  • North America held the leading share of heart valve devices market in 2021 vis-à-vis volume.

  • Asia Pacific held the second-leading share of heart valve devices market in 2021. Increase in regulatory approvals, expanding healthcare expenditures, government-funded healthcare schemes in place, and growing medical tourism in several countries of the region underscore growth of heart valve devices market of the region.

  • High incidence of aortic stenosis in Europe validate the demand for structural heart disease treatment devices, which in turn provides impetus to develop new techniques for correction of heart defects.

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Heart Valve Devices Market – Growth Drivers

  • Efforts to manufacture technologically advanced devices for the growing inclination for minimally invasive heart valve devices fuels the growth of heart valve devices market

  • Advances in structural devices and procedures such as left arterial closure devices, aortic valve replacement valves, and tissue or biological valves to cement growth of heart valve devices market

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Heart Valve Devices Market – Key Players

Some of the key players operating in the heart valve devices market are;

  • Abbott

  • CryoLife Inc.

  • JenaValve Technology Inc.

  • SYMETIS

  • Sorin Group

  • XELTIS

  • Lepu Medical

  • Boston Scientific Corporation

  • Edward Lifesciences Corporation

  • Medtronic Inc.

  • Neovasc Inc.

  • Micro Interventional Devices

  • TTK Healthcare

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The heart valve devices market is segmented as follows;

Type

  • Mechanical Heart Valves

    • Aortic Valves

    • Mitral Valves

  • Biological Heart Valves

    • Aortic Valves

    • Mitral Valve

    • Pulmonary Valves

    • Tricuspid Valves

  • Transcatheter Heart Valves

    • Aortic Valves

    • Mitral Valves

    • Pulmonary Valves

End User

  • Hospitals

  • Ambulatory Surgical Center

Region

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

    • Rest of Europe

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia & New Zealand

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Middle East & Africa

    • GCC countries

    • South Africa

    • Rest of Middle East & Africa

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:

Heart Valve Repair and Replacement Market: Looking at this growth in the cases of heart valve related conditions, healthcare sector is calling for innovative and advanced heart valves, which is a prominent growth driving factor for the global heart valve repair and replacement market.

Tissue Heart Valves Market: The global tissue heart valves market is expected to grow substantially due to high prevalence of heart valve diseases, which is constantly rising due to socioeconomic factors, such as lifestyle-induced dietary, physical inactivity, and certain other habits, including smoking.

Prosthetic Heart Valves Market: Global demand for prosthetic heart valves is driven by increasing number of heart surgeries performed, aging population, and growing base of patients across the world. Prosthetic heart valves is considered a lucrative market globally.

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