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Global Cardiac Valve Market Size was valued at USD 7.4 Billion in 2022. The Cardiac Valve market industry is projected to grow from USD 7.9 Billion in 2023 to USD 12.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.70% during the forecast period (2023 - 2032). Valvular heart disease is becoming more prevalent, and people are leading more sedentary lifestyles., are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The market is expanding due to an increase in the number of elderly individuals, a shift in people's active to sedentary lifestyles, unique breakthroughs in heart valves, greater awareness of surgical treatment alternatives, and rising desire for less invasive treatments. For instance, the American College of Cardiology estimates that roughly 5 million Americans suffer from heart valve disease each year. The high cost of cardiac valves and the availability of alternative treatments for heart valve disease are two major obstacles preventing the market's expansion, though. The ability of computational tools to replicate additional fluid mechanics aspects like pressure reductions, regurgitation volumes, or turbulence is a crucial issue that affects the heart valve repair and replacement market. Additionally, the accessibility of computational methodologies allows for a precise identification of valvar disease, leading to efficient treatment and growing demand for cardiac valve replacement and repair.
As valvular heart disease has become more common, the need for transcatheter aortic valve replacement (TAVR) surgeries has grown, driving the market for cardiac valve devices and equipment. Aortic stenosis is a valvular cardiac condition that affects the heart's aortic valve. TAVR is the name of a minimally invasive surgical treatment used to treat it. Aortic stenosis causes the aortic valve to harden, which prevents proper blood flow. A transcatheter valve is used to replace the damaged aortic valve. The TVT Registry study by the Society of Thoracic Surgeons (STS) and American College of Cardiology (ACC) discovered that volumes have increased on a yearly basis. In 2019, TAVR finally defeated all iterations of surgical aortic valve replacement (SAVR). Due to the FDA's approval of the operation for low-risk patients, the total number of TAVR procedures conducted in 2019 (72,991) exceeded the total number of SAVR procedures (57,626). The incidence of valvular heart disease will likely increase the frequency of TAVR procedures, which will raise the demand for transcatheter valves and, consequently, the market for cardiac valves.
The two main factors propelling the market's growth are the rising frequency of heart valve diseases and the rising number of new and improved cardiac valves gaining regulatory approvals. The increased prevalence of heart valve disease, which is a substantial component, is causing the market to grow. For instance, the World Heart Federation 2022 estimates that 39 million individuals globally suffer from rheumatic heart disease. It is a disorder where the heart valves have been permanently damaged by rheumatic fever. Thus, driving the Cardiac Valve market revenue.
The global Cardiac Valve market segmentation, based on Treatment, includes cardiac wall repair and cardiac wall replacement. Cardiac wall repair segment dominated the global market in 2022. This can be attributed to the rising incidence of cardiovascular disorders.
The global Cardiac Valve market segmentation, based on Type, includes mechanical valves, tissue/bioprosthetic valves, transcatheter heart valves/percutaneous heart valves, and others. The tissue/bioprosthetic valves segment dominated the global market in 2022. The domination of the tissue valve market as a result of the development of bioprosthetic valves and their benefits, which include strength, flexibility, and a decreased need for anticoagulants, is limiting the market share of the mechanical valve segment. Over the anticipated period, demand for other valves will also increase steadily.
The global Cardiac Valve market segmentation, based on Position, includes mitral valve, aortic valve, and other position. Mitral valve segment dominated the global Cardiac Valve market in 2022. This is due to the fact that factors including smoking, obesity, inactivity, and other stresses on the cardiovascular system are making cardiovascular disease more prevalent.
The global Cardiac Valve market segmentation, based on End User, includes hospital & clinics, specialty centers, cardiac research institute, and others. The hospital & clinics segment dominated the global Cardiac Valve market in 2022. This occurs as a result of more hospital procedures, increased government spending, and improved management of vulvar illness. Specialty clinics and other market sectors are causing the cardiac valve market value to grow.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Cardiac Valve Market dominated this market in 2022 (45.80%). This is because of advances in medical understanding, the launch of new products, and regulatory rules that simplify the manufacture and upkeep of heart valve devices. Additionally, a big factor in the region's dominance is the increase in lifestyle disorders like diabetes and obesity. Further, In the North American area, the U.S. Cardiac Valve market had the biggest market share, while the Canada Cardiac Valve market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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In 2022, the Europe Cardiac Valve market held a sizable market share. The market's expansion is primarily being driven by the high frequency of heart valve issues, product advancements, the quantity of heart valve replacement procedures, and the well-established healthcare infrastructure. Further, In the European region, the German Cardiac Valve market had the biggest market share, and the U.K. Cardiac Valve market had the quickest rate of growth.
From 2023 to 2032, the Asia Pacific Cardiac Valve market is anticipated to develop significantly. This is due to the rise in aortic stenosis and other cardiac conditions, the expansion of healthcare facilities in nations like China and India, and the continual search by industry players for new markets to enter. For instance, according to data from Hope for Hearts, 1 in 8 elderly Australians are likely to have aortic stenosis. Aortic stenosis (AS) is another condition that is estimated to affect at least 97,000 Australians over the age of 55. Moreover, In the Asia-Pacific region, the Indian Cardiac Valve market had the quickest rate of growth while China's Cardiac Valve market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Cardiac Valve market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Cardiac Valve sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Cardiac Valve industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Cardiac Valve sector. Major players in the Cardiac Valve market, including Medtronic, Edwards Lifesciences Corporation, Boston Scientific Corporation, LivaNova PLC, Abbott, CryoLife, Inc, On-X Life Technologies, Inc., Colibri Heart Valve, JenaValve Technology, Inc., and TTK HealthCare, are attempting to increase market demand by investing in research and development Products.
Edwards Lifesciences Corp (Edwards Lifesciences) is a company that creates, manufactures, and sells equipment for structural heart disease, critical care, and surgical monitoring. The business offers transcatheter heart valves, instruments and accessories for pressure and hemodynamic monitoring, devices for surgical valve replacement and repair, and transcatheter heart valves. Its products are employed in a variety of therapies, including the management of clotting, hypotension, and sepsis, transcatheter aortic valve replacement (TAVR), blood preservation, infection control, and better postoperative recovery. In markets like North America, Europe, and Asia-Pacific, the company distributes its products directly to customers as well as through a network of independent distributors. The headquarters of Edwards Lifesciences are located in Irvine, California. In March 2022, the US Food and Drug Administration (FDA) gave Edwards Lifesciences permission to market the MITRIS RESILIA valve. It is a tissue valve replacement designed specifically for the heart's mitral region.
Enhancing the quality of life for people with structural heart disorders is the objective of JenaValve Technology, Inc., a developer and manufacturer of transcatheter aortic valve replacement (TAVR) devices. The company's technique employs porcine pericardial tissue and a self-expanding nitinol frame with a transfemoral distribution mechanism that does not require rapid pacing. It also includes a dual sealing valve design and anatomically based locator fixation. This provides patients with convenience, lowered paravalvular regurgitation risks, and long-lasting hemodynamic effects. In January 2022, JenaValve Technology, Inc. entered into a strategic investment and exclusive technology licensing agreement with the Chinese firm Peijia Medical Limited.
· Medtronic
· Edwards Lifesciences Corporation
· Boston Scientific Corporation
· LivaNova PLC
· Abbott
· CryoLife, Inc
· On-X Life Technologies, Inc.
· Colibri Heart Valve
· JenaValve Technology, Inc.
· TTK HealthCare
September 2019: According to Medtronic, the transcatheter aortic valve replacement (TAVR) device Evolut PRO+ is now accessible in the US.
September 2019: TriClip, a transcatheter tricuspid valve repair for tricuspid regurgitation treatment, was the focus of the key TRILUMINATE trial, which was initiated by Abbott.
· Cardiac Wall Repair
· Cardiac Wall Replacement
· Mechanical Valves
· Tissue/Bioprosthetic Valves
· Transcatheter Heart Valves/Percutaneous Heart Valves
· Others
· Mitral Valve
· Aortic Valve
· Other Position
· Hospital & Clinics
· Specialty Centers
· Cardiac Research Institute
· Others
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 7.4 Billion |
|
Market Size 2023 |
USD 7.9 Billion |
|
Market Size 2032 |
USD 12.9 Billion |
|
Compound Annual Growth Rate (CAGR) |
6.70% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Treatment, Type, Position, End User, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Medtronic, Edwards Lifesciences Corporation, Boston Scientific Corporation, LivaNova PLC, Abbott, CryoLife, Inc, On-X Life Technologies, Inc., Colibri Heart Valve, JenaValve Technology, Inc., and TTK HealthCare |
|
Key Market Opportunities |
Rising geriatric population |
|
Key Market Dynamics |
Rise in burden exerted by valvular heart diseases and shift towards sedentary lifestyle of people |
The global Cardiac Valve market size was valued at USD 7.4 Billion in 2022.
The global market is projected to grow at a CAGR of 6.70% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Medtronic, Edwards Lifesciences Corporation, Boston Scientific Corporation, LivaNova PLC, Abbott, CryoLife, Inc, On-X Life Technologies, Inc., Colibri Heart Valve, JenaValve Technology, Inc., and TTK HealthCare
The Cardiac Wall Repair Treatment dominated the market in 2022.
The Tissue/Bioprosthetic Valves Type had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65278
Published on :
Sep 2023
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