Artificial Cardiac Valves Market Size, Share & Growth | Forecast 2031
Artificial Cardiac Valves Market Size, Share & Growth | Forecast 2031
Segments - Artificial Cardiac Valves Market by Type (Transcatheter Heart Valves, Mechanical Heart Valves, and Biological Heart Valves), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-5444
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| 215 Pages
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Report Description
The global artificial cardiac valves market size was USD 6.11 Bn in 2022 and is likely to reach USD 19.9 Bn by 2031, expanding at a CAGR of 11.2% during 2023–2031. The market growth is attributed to the rising geriatric population and the increasing prevalence of cardiovascular diseases.
Artificial cardiac valves are commonly utilized to substitute damaged natural valves, specifically those affected by thrombosis. It treats hemodynamically significant aortic or mitral valve disease. These devices are placed in the heart by surgical implantation procedure. It is categorized as single tilting-disk, bileaflet tilting-disk valves, or caged-ball and manufactured from metal or carbon alloys.
Artificial valve implantation is performed according to the patient’s requirement; it replaces defective mitral valves, aortic valves, and others. For instance, in March 2022, the United States Food and Drug Administration (FDA) approved the MITRIS RESILIA valve by Edwards Lifesciences. It is particularly designed for the mitral heart position. Moreover, in March 2021, the U.S. FDA gave a nod to the Harmony Transcatheter Pulmonary Valve (TPV) System. It treats pediatricand geriatric patients withinvasively repaired right ventricular outflow tract (RVOT).
The research report finds that the COVID-19 pandemic negatively affected the artificial cardiac valves market. Surgical training and education were postponed during the pandemic owing to the high risk of managing critical surgery patients. For example, an article published by AHA Journals, titled "Bioprosthetic Valve Thrombosis Associated With COVID-19 Infection", states that patients with endovascular devices and artificial heart valves may get diagnosed with thrombotic complications if infected with COVID-19. Therefore, the study suggests lessening and postponing of critical cardiovascular surgeries during the pandemic.
The normalization of lockdown measures owing to wide-scale vaccination across the world is expected to increase the number of individuals undergoing various surgical procedures which were postponed during the pandemic. Moreover, the number of patients who go through heart valve placementhas increased post-pandemic, which is likely to support the market to recover from the pandemic impact.
Artificial Cardiac Valves Market Dynamics
Major Drivers
Growing high-tech healthcare infrastructure in emerging countries is expected to boost the market in the coming years. In addition, a favorable reimbursement scenario, rising disposable income, and changing lifestyle patterns world wide are anticipated to fuel the market.
Rise in improper diet and inactive lifestyle are leading to the high prevalence of heart disease. A diet high in trans fats, saturated fats, and cholesterolare some of the major reasons behind the rise of heart disease and related conditions. Such poor lifestyle choices are causing a high rate of heart-related disorders which is expected to fuel the market growth.
Existing Restraints
High costs and complications associated with heart surgeries are likely to hamper the market expansion during the forecast period. Patients may face degeneration of bio-prostheses, thromboembolic and bleeding events, para-valvar leak, patient–prosthesis mismatch, and valve thrombosis post surgeries. Thus, patients choose alternative methods to treat heart valve diseases.
Emerging Opportunities
Advancements in technologyare projected to create lucrative opportunities for market players. Major players are focusing on technological developments and partnerships to increase market revenue. For instance, in January 2022, Jena Valve Technology, Inc.signed a contract with Peijia Medical Limited in China. This contract includes exclusive technology licensing and strategic investment. As per the contract, Peijia made equity and cash investments in Jena Valve's Trilogy TAVR systemsfor treating patients with severe symptomatic aortic stenosis and aortic regurgitation.
Scope of the Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Artificial Cardiac Valves Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Transcatheter Heart Valves, Mechanical Heart Valves, and Biological Heart Valves) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Abbott; Edwards Lifesciences Corporation; MERIL LIFESCIENCES; LivaNova PLC.; Boston Scientific Corporation; JenaValve Technology, Inc.; Micro Interventional Devices, Inc.; Direct Flow medical, Inc.; CryoLife, Inc.; and Medtronic |
Market Segment Insights
Type Segment Analysis
On the basis of type, the artificial cardiac valves market is segmented into transcatheter heart valves, mechanical heart valves, and biological heart valves. The transcatheter heart valves segment is projected to expand at a robust CAGR during the forecast period due to rising awareness about the minimally invasive procedure. Transcatheter heart valves (TAVR) is a minimally invasive heart procedure that replaces the thickened aortic valve. TAVR treats aortic valve stenosis, a medical condition in which the aortic valve cannot open fully.
The mechanical heart valves segment is anticipated to account for a substantial market share during the forecast period. A mechanical heart valve is an artificial cardiac valve implanted in a patient suffering from certain heart conditions, such as mitral regurgitation or aortic stenosis. It is manufactured from materials such as carbon and titanium. These valves comprise a pair of leaflets and a metal ring enclosed by a knitted fabric ring. The fabric ring is sewn onto the heart to replace the original valve.
Regional Outlook
In terms of region, the global artificial cardiac valves market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the forecast period, owing to promising reimbursement policies and well-developed healthcare infrastructure.Major players focus on market expansion through strategic mergers and acquisitions for technological advancements. Moreover, as per the American Heart Association, approximately 90,000 valve replacements are performed annually in the United States. The demand for artificial cardiac valves is expected to increase significantly in North America with rising heart-related conditions among the population of the region.
The market in Asia Pacific is anticipated to expand rapidly during the forecast period due tothe rapid adoption of tissue valve andthe increasing geriatric population. The development in regulatory scenarios and the presence of prominent players operating in the regionare likely to fuel the market.Furthermore, rising medical tourism in several countries such as Malaysia, Singapore, and Indiais projected to propel the market in the coming years. The developing healthcare infrastructure and low cost of cardiovascular surgeries in emerging countries such as India have led to a rise in medical tourism.
Segments
The global artificial cardiac valves market has been segmented on the basis of
Type
- Transcatheter Heart Valves
- Mechanical Heart Valves
- Biological Heart Valves
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Abbott
- Edwards Lifesciences Corporation
- MERIL LIFESCIENCES
- LivaNova PLC.
- Boston Scientific Corporation
- JenaValve Technology, Inc.
- Micro Interventional Devices, Inc.
- Direct Flow medical, Inc.
- CryoLife, Inc.
- Medtronic
Competitive Landscape
Key players competing in the global artificial cardiac valves market are Abbott; Edwards Lifesciences Corporation; MERIL LIFESCIENCES; LivaNova PLC.; Boston Scientific Corporation; JenaValve Technology, Inc.; Micro Interventional Devices, Inc.; Direct Flow medical, Inc.; CryoLife, Inc.; and Medtronic.
Major players in the market are currently involved in research and development programs with the goal of expanding their manufacturing units, increasing their customer base, and diversifying their product offerings. For instance,
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In September 2021, Abbott announced that their Epic Plus and Epic Plus Supra Stented Tissue Valves have been approved by the USFDA to provide better treatment options for individuals suffering from aortic or mitral valve disease.
- In September 2020, Boston Scientific Corporation, a prominent manufacturer of medical devices and biomedical/biotechnology engineeringannounced the launch of a new transcatheter aortic valve implantation system called ACURATE neo2.The system is designed to enhance the clinical performance of the original ACURATE neo platform.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Artificial Cardiac Valves Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Artificial Cardiac Valves Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Artificial Cardiac Valves Market - Supply Chain
4.5. Global Artificial Cardiac Valves Market Forecast
4.5.1. Artificial Cardiac Valves Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Artificial Cardiac Valves Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Artificial Cardiac Valves Market Absolute $ Opportunity
5. Global Artificial Cardiac Valves Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Artificial Cardiac Valves Market Size and Volume Forecast by Types
5.3.1. Transcatheter Heart Valves
5.3.2. Mechanical Heart Valves
5.3.3. Biological Heart Valves
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Artificial Cardiac Valves Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Artificial Cardiac Valves Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Artificial Cardiac Valves Demand Share Forecast, 2019-2026
7. North America Artificial Cardiac Valves Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Artificial Cardiac Valves Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Artificial Cardiac Valves Market Size and Volume Forecast by Types
7.4.1. Transcatheter Heart Valves
7.4.2. Mechanical Heart Valves
7.4.3. Biological Heart Valves
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Artificial Cardiac Valves Demand Share Forecast, 2019-2026
8. Latin America Artificial Cardiac Valves Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Artificial Cardiac Valves Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Artificial Cardiac Valves Market Size and Volume Forecast by Types
8.4.1. Transcatheter Heart Valves
8.4.2. Mechanical Heart Valves
8.4.3. Biological Heart Valves
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Artificial Cardiac Valves Demand Share Forecast, 2019-2026
9. Europe Artificial Cardiac Valves Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Artificial Cardiac Valves Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Artificial Cardiac Valves Market Size and Volume Forecast by Types
9.4.1. Transcatheter Heart Valves
9.4.2. Mechanical Heart Valves
9.4.3. Biological Heart Valves
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Artificial Cardiac Valves Demand Share Forecast, 2019-2026
10. Asia Pacific Artificial Cardiac Valves Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Artificial Cardiac Valves Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Artificial Cardiac Valves Market Size and Volume Forecast by Types
10.4.1. Transcatheter Heart Valves
10.4.2. Mechanical Heart Valves
10.4.3. Biological Heart Valves
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Artificial Cardiac Valves Demand Share Forecast, 2019-2026
11. Middle East & Africa Artificial Cardiac Valves Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Artificial Cardiac Valves Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Artificial Cardiac Valves Market Size and Volume Forecast by Types
11.4.1. Transcatheter Heart Valves
11.4.2. Mechanical Heart Valves
11.4.3. Biological Heart Valves
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Artificial Cardiac Valves Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Artificial Cardiac Valves Market: Market Share Analysis
12.2. Artificial Cardiac Valves Distributors and Customers
12.3. Artificial Cardiac Valves Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Abbott
12.4.2. Edwards Lifesciences Corporation
12.4.3. MERIL LIFESCIENCES
12.4.4. LivaNova PLC.
12.4.5. Boston Scientific Corporation
12.4.6. JenaValve Technology, Inc.
12.4.7. Micro Interventional Devices, Inc.
12.4.8. Direct Flow medical, Inc.
12.4.9. CryoLife, Inc.
12.4.10. Medtronic
Methodology
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