Prosthetic Heart Valve Market

Prosthetic Heart Valve Market Outlook

With a projected global Prosthetic Heart Valve Market size of USD 13,234.9 million by 2023, the industry is anticipated to advance rapidly. By 2033, the prosthetic heart valve market is expected to be valued at USD 27,277.6 million.

The prosthetic heart valve sales are set to rise through 2033 at a CAGR of 7.5% due to the increased prevalence of valvular illnesses like tricuspid regurgitation, idiopathic and ischemic mitral regurgitation, and aortic stenosis.

Attributes	Details
Market Value for 2023	USD 13,234.9 million
Market Value for 2033	USD 27,277.6 million
Market CAGR from 2023 to 2033	7.5%

Catalysts for Market Growth of Prosthetic Heart Valve

• As the world's population ages, valvular heart diseases, frequently necessitating heart valve replacement, occur more regularly. The demographic transition significantly compels the demand for prosthetic heart valves.
• Government organizations and regulatory authorities worldwide have set standards and approval procedures to guarantee the safety and effectiveness of prosthetic heart valves. The regulatory frameworks boost patient and professional confidence, which fosters market expansion for prosthetic heart valves.
• Advanced surgical techniques have become readily accessible since advancements in healthcare infrastructure, particularly in emerging nations. Since patients can now undergo therapy, this has benefited the prosthetic heart valve sector.
• Research and development efforts in cardiology and cardiac surgery have produced cutting-edge heart valve technologies, including tissue-engineered heart valves, which may propel market expansion for prosthetic heart valves.

Innovative Opportunities in the Prosthetic Heart Valve Sector

• Increasingly, more people are choosing to get minimally invasive surgery. Growth opportunities for prosthetic heart valves may be opened, and patient outcomes can be enhanced by creating prosthetic heart valves appropriate for less intrusive operations.
• The prosthetic heart valve market may grow due to improved patient education and awareness, resulting in earlier diagnosis and treatment.
• Heart valve problems become increasingly familiar with age, and the world's population is aging. This demographic shift opens up a sizable market for manufacturers of prosthetic heart valves.
• Rapid market expansion is seen in transcatheter aortic valve replacement (TAVR). TAVR is a less intrusive option when replacing an aortic valve than open heart surgery. The opportunity for business growth that develops and promotes transcatheter aortic valve replacement devices is substantial.

A Historical Perspective of Prosthetic Heart Valve Market from 2018 to 2022 and Forward Gaze from 2023 to 2033

Artificial Heart Valve Market Overview from 2018 to 2022

• The prosthetic heart valve market grew consistently. Aging populations globally, a spike in heart valve problems, and technological medical advances were the primary catalysts of the growth.
• The transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR) techniques showed significant adoption. Less traditional open-heart surgery was required as the minimally invasive treatments spread in popularity.
• Regulatory bodies, necessitating investments in research and development for prosthetic heart valves, enforced stricter quality and safety requirements.

Historical CAGR	11.9%
Forecast CAGR	7.5%

Predictions and Potential Developments from 2023 to 2033

• An aging population and progressive heart valve illnesses may contribute to market growth for prosthetic heart valves.
• As healthcare infrastructure develops and more people have access to cutting-edge medical procedures, emerging nations may experience a surge in demand for prosthetic heart valves.
• Costs for prosthetic heart valves may decrease as a result of improvements in manufacturing and increasing competition, opening them out to an extensive patient base.
• Improved patient education and awareness campaigns lead to faster heart valve disease detection and treatment, which may boost demand for prosthetic heart valves.

Roadblocks Faced by Prosthetic Heart Valve Manufacturers

• The high price of devices may limit market growth for prosthetic heart valves and present a barrier to access for particular patients and healthcare systems.
• The prosthetic heart valve market is competitive with multiple well-established firms and recent entrants. While competition can spur innovations in artificial cardiac valve devices, it can be difficult for smaller businesses to establish a presence in the prosthetic heart valve industry.
• Rapid developments in medical technology, such as the creation of less intrusive valves, have the potential to render present goods outdated and necessitate a sizable investment in research and development to remain current with the prosthetic heart valve demand.

Healthcare delivery and pricing structures are continually changing. Manufacturers of prosthetic heart valves must adjust to changing economic situations, payment policies, and healthcare delivery paradigms

Category-wise Outlook

An extensive artificial heart valve market segmentation evaluation sums up this part of the study. The prosthetic heart valve providers are paying more significant consideration to market trends in heart valve prosthetics and demand for biological/tissue heart valves. The hospital segment monopolizes the end-user category of the prosthetic heart valve demand.

The Biological or Tissue Heart Valve Segment Boom in Research and Development

Biological or tissue heart valves continue to be in high demand in the prosthetic heart valve sector. The biological or tissue heart valves provide a more natural and biocompatible option to reduce the risk of blood clot development and the requirement for long-term anticoagulant therapy.

A significant factor in the continued demand for tissue heart valves is the aging global population and the rising prevalence of cardiac disorders. The longevity and lower incidence of problems with biological valves make them a preferred choice for older patients who frequently need valve replacement.

Leading Segment	Biological/Tissue Heart Valves
Segment Share	42.3%

Biological heart valves are a more reliable long-term solution owing to improved tissue engineering and preservation procedures that have increased their durability and performance. The strong demand for biological heart valves in the prosthetic heart valve devices market results from the field's ongoing research and development activities, which are helping to broaden their applications.

Patient Preference and the Hospital Segment's Growth in Prosthetic Heart Valve Treatments

The hospitals are the dominant end user, accounting for a substantial 75.6% market share of prosthetic heart valves. The hospital sector has a priceless infrastructure that includes advanced medical equipment, modern surgical facilities, and a variety of diagnostic instruments, producing a setting favorable to challenging cardiac treatments.

Leading Segment	Hospitals
Segment Share	75.6%

The choice of patients to receive their treatments in hospitals is fueling the expansion of the hospital segment. Hospitals are the first choice of people seeking prosthetic heart valve treatments due to their excellent reputation, accessibility, and wide range of healthcare services. Between 2023 and 2033, the hospital sector has the opportunity to keep control of the prosthetic heart valve demand.

Country-wise Analysis

This part examines an exhaustive market analysis with data about various nations. In North America, Europe, and Asia Pacific, prosthetic heart valve sales are strengthening. North America has been developing steadily, followed by Europe, but prosthetic heart valve manufacturers possess ample opportunity in Asia Pacific.

Dominance of the Prosthetic Heart Valve Market in North America

• Due to its extensive healthcare system and high frequency of heart disorders, the United States dominates the North America prosthetic heart valve market.
• An older population and rising heart health awareness contribute to Canada's steady market growth of prosthetic heart valves.

Attributes	Details
United States - Market Share	36%

• Regulatory changes and reimbursement rules in the United States affect the prosthetic heart valve market outlook.
• Canadian healthcare providers are progressively implementing advanced prosthetic heart valve technologies to improve patient outcomes.
• Patient preferences for minimally invasive procedures are influencing trends in the adoption of prosthetic heart valves in North America.

Future Prospects of the Europe Market of Prosthetic Heart Valve

• Germany manufacturers of medical devices dominate the Europe market.
• The prosthetic heart valve market in the United Kingdom is driven by an aging population and increased valvular disease patients.

Attributes	Details
Germany - Market Share	8.8%
United Kingdom - Market CAGR	12.4%

• Italy's market is expanding due to the adoption of innovative surgical methods and upgraded medical facilities.
• Europe's strict laws and payment practices considerably influence the prosthetic heart valve industry.
• Partnerships between European healthcare facilities and prosthetic heart valve producers promote innovation and product development.

Government Initiatives Transforming Prosthetic Heart Valve Sector in Asia Pacific

• The aging population in China and technological medical breakthroughs are forcing the rapid growth of China's prosthetic heart valve market.
• Cost-effective prosthetic heart valves are in demand in India, which reflects the nation's sensitivity to healthcare costs.

Attributes	Details
Japan - Market Share	5.8%
China - Market CAGR	12.5%
India - Market CAGR	12.2%

• Much attention is paid to research and development for next-generation valve technology in Japan's prosthetic heart valve business.
• Government healthcare programs in China and India are expanding access to treatments for prosthetic heart valves.
• Manufacturers of prosthetic heart valves have numerous potential opportunities in the emerging markets of Asia Pacific.

Competitive Analysis

Due to the aging population and the increased prevalence of cardiac illnesses, there is fierce rivalry in the sales of prosthetic heart valves. Prominent prosthetic heart valve manufacturers dominate the industry with a broad selection of products. Key research areas include advancements in biocompatibility, robustness, and minimally invasive methods.

New prosthetic heart valve suppliers are introducing modern technologies, and expanding markets in the Asia Pacific have room for expansion. Critical market share variables for prosthetic heart valves include cost-effectiveness, regulatory approvals, and market penetration techniques. The intense competition encourages constant innovations in artificial cardiac valve devices and better patient results.

Recent Advancements

Company	Details
The Approval to Edwards Lifesciences	The MITRIS RESILIA valve was approved by the United States Food and Drug Administration (FDA) in March 2022. It is a tissue valve replacement made especially for the mitral location of the heart.
Jenavalve Technology, Inc. formed a Strategic Investment with Peijia Medical Limited.	With the Chinese company Peijia Medical Limited, JenaValve Technology, Inc. engaged in a strategic investment and exclusive technology licensing deal in January 2022. In return for exclusive rights to create and market JenaValve's cutting-edge Trilogy TAVR systems in the Greater China region to treat patients with either severe symptomatic aortic regurgitation (AR) or severe symptomatic aortic stenosis, Peijia has invested cash and equity in JenaValve and continues to do so.
FDA Approval for Abbott	For its Epic Plus and Epic Plus Supra Stended Tissue Valves, Abbott received FDA approval in 2021. The approval could be helpful in the management of mitral and aortic valve diseases.
Spectrum Health and Medtronic Plc Made the Partnership Announcement	To add value to healthcare and improve outcomes for Spectrum Health patients, Medtronic plc and Spectrum Health inked a collaboration agreement in 2021.

Key Prosthetic Heart Valve Manufacturers

• Edward Lifesciences Corporation
• St. Jude Medical, Inc.
• Medtronic plc.
• Boston Scientific Corporation
• Abbott Laboratories
• SYMETIS
• LivaNova PLC
• CryoLife, Inc.
• Braile Biomedica
• Colibri Heart Valve LLC
• JenaValve Technology, Inc.
• Microinterventional Devices
• Autotissue Berlin Gmbh
• Meril Lifesciences
• Comed B.V.

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
• 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
  • 5.1. Mechanical Heart Valves
    • 5.1.1. Mechanical Aortic Valve
    • 5.1.2. Mechanical Mitral Valve
  • 5.2. Biological/Tissue Heart Valves
    • 5.2.1. Tissue Aortic Valve
    • 5.2.2. Tissue Mitral Valve
  • 5.3. Transcatheter Heart Valves
    • 5.3.1. Transcatheter Aortic Valve
    • 5.3.2. Transcatheter Mitral Valve
• 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
  • 6.1. Hospitals
  • 6.2. Ambulatory Services
• 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
  • 7.1. North America
  • 7.2. Latin America
  • 7.3. Western Europe
  • 7.4. Eastern Europe
  • 7.5. South Asia and Pacific
  • 7.6. East Asia
  • 7.7. Middle East and Africa
• 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 15. Key Countries Market Analysis
• 16. Market Structure Analysis
• 17. Competition Analysis
  • 17.1. Competition Deep Dive
    • 17.1.1. Edward Lifesciences Corporation
    • 17.1.2. St. Jude Medical, Inc
    • 17.1.3. Medtronic plc
    • 17.1.4. Boston Scientific Corporation
    • 17.1.5. Abbott Laboratories
    • 17.1.6. SYMETIS
    • 17.1.7. LivaNova PLC
    • 17.1.8. CryoLife, Inc.
    • 17.1.9. Braile Biomedica
    • 17.1.10. Colibri Heart Valve LLC
• 18. Assumptions & Acronyms Used
• 19. Research Methodology