The global cardiac valve market size was USD 8.35 Bn in 2022 and is likely to reach USD 21.80 Bn by 2031, expanding at a CAGR of 11.50% during 2023–2031. The market growth is attributed to the rising prevalence of cardiovascular diseases and regulatory approvals for cardiac valve implants.
The cardiac valve is responsible for synchronizing blood flow in the chambers of the heart in the right direction and pressure. A healthy heart pumps blood through major blood vessels in a predictable manner through these chambers.
The four types of chambers in the heart are the aortic valve, mitral valve, pulmonary valve, and tricuspid valve. The heart valves are made up of thin but robust flaps of tissues and organize coordinated blood flow through these chambers during the cardiac cycles for the efficient functioning of body organs.
In heart complications, blood flow through these valves is obstructed due to improper functioning of valves. The malfunctioning of heart valves occurs due to several factors such as congenital conditions, valve diseases, thyroid, and diabetes. The serious dysfunction of valves is resolved through valve replacement or repair treatment procedures.
Cardiac valve implant surgeries were considered to be very risky in earlier times as the patients were faced with trauma, blood loss, and pain after implant surgery. Medical research professionals, universities, and surgeons minimized these complications by inventing various methods of conducting minimally invasive surgeries.
In minimally invasive implants, postoperative complications are minimized as smaller incisions are made by surgeons to operate on the interior parts of the heart while replacing the valve. Patients experience a reduction in blood loss, pain, and trauma after undergoing minimally invasive implants.
According to an article by Medical Xpress published on 6 January 2023, Children’s Hospital Boston invented the first prosthetic pulmonary valve that can expand inside the child’s anatomy as the child ages. These valves are fitted as per the physical parameters of the child and if required adjusted proportionately over time through minimally invasive transcatheter balloon dilation procedures to help regulate blood flow.
The valve is known as Autus Valve was first implanted in a child in late 2021 at Nationwide Children’s Hospital as part of a collective study involving New York-Presbyterian/Columbia University Irving Medical Center, Nationwide Children's Hospital, and Boston Children's Hospital.
The practice of performing minimally invasive implants also reduces postoperative costs and the care of the patients. Innovative technologies such as robotic surgery, neochordae implantation, and annuloplasty ring help surgeons perform the implants safely to protect the patients from associated complications such as cardiac arrest or heart stroke. The steadily rising affordability of cardiovascular devices in any adversarial post-implant situation also creates growth opportunities in the market.
The heart valve market remained largely unaffected during the COVID-19 pandemic. Growing consciousness about respiratory diseases and subsequent care routines has altered the preferences of patients with different cardiac complications. The awareness about the consequences of ignoring health complications and the rise in diagnosis of health issues has created lucrative opportunities for the cardiac valve market growth.
Cardiac Valve Market Trends, Drivers, Restraints, and Opportunities
The rising prevalence of heart diseases, the sedentary lifestyle, and the slow shift toward cardiac valve implants are the major factors driving the growth of the cardiac valve market. Unhealthy food intake, lack of exercise, and increased stress are giving rise to the occurrence of cardiovascular diseases. According to World Health Organization (WHO), it is estimated that 17.9 million lives were lost each year globally as a result of cardiovascular diseases. Health complications such as obesity and dysfunction of the heart are also fueling the market.
The willingness of patients to undergo valve replacements is driving the market growth during the forecast period. Cardiac patients are not refraining from undergoing heart valve implants as the surgeries have become less complicated. The surgeons suggest native heart valve replacement to their patients as the surgeries have become less invasive.
The lack of skilled surgeons, post-implant complications, and the high cost of the implant are the major factors likely to hinder the market growth during the projection period. The implant of the valves involves several risk factors such as valve thrombosis, patient–prosthesis mismatch, kidney problems, infections, blood clots, and para-valvar leak. However, efforts of the research communities to develop affordable modules of minimally invasive surgeries and post-operative patient care are likely to boost the market expansion significantly.
The availability of improved healthcare infrastructure is expected to create growth opportunities for the market. Complex surgeries such as cardiac valve implants require the support of comprehensive healthcare infrastructure during and after the surgery. The healthcare infrastructure is required to provide efficient post-operative care to patients.
Supportive government policies and a rise in government funding for research significantly boost the market growth during the projection period. Governments across the world are increasing spending on building robust healthcare infrastructure networks. The encouragement by regulators to assist healthcare providers in research and development and training initiatives of cardiac valve implants boosts the expansion of the market.
The rising awareness and willingness to pay for healthcare expenditure by availing of insurance packages are creating new opportunities in the market. The government is encouraging people to buy health insurance packages by providing them with tax rebates and credits on the purchase of the policies.
Scope of Cardiac Valve Market Report
The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Cardiac Valve Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2020–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Trans-Catheter Heart Valve, Tissue Heart Valve, Mechanical Heart Valve, and Others), Treatment (Cardiac Valve Repair and Cardiac Valve Replacement), Position (Mitral Valve Aortic Valve and Other Position), and End-user (Cardiac Research Institute, Hospital & Clinics, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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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
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Edwards Lifesciences Corporation; Medtronic; Boston Scientific Corporation; LivaNova PLC; Abbott; CryoLife, Inc.; Colibri Heart Valve; JenaValve Technology, Inc.; Braile Biomédica; TTK; and Lepu Medical Technology (Beijing) Co., Ltd.
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Cardiac Valve Market Segment Insights
Based on type, the global cardiac valve market is divided into trans-catheter heart valve, tissue heart valve, mechanical heart valve, and others. The trans-catheter heart valve segment is expected to expand at a significant growth rate during the projection period, owing to factors such as a high acceptance rate among surgeons and patients and minimally invasive procedures of the implant. The procedure typically takes less than an hour as the aortic valve in patients is replaced with severe aortic stenosis. As soon as the diseased valve replacement procedure is completed the new valve starts working immediately.
In terms of treatment, the market is divided into cardiac valve repair and cardiac valve replacement. The cardiac valve replacement segment is expected to grow at a significant pace during the projection period. If the native heart valves are completely damaged and beyond repair, the surgeons advise the replacement of the cardiac valves. The growing popularity of minimally invasive surgeries and confidence instilled in the minds of the patients about the efficacy of the implant is boosting the cardiac valve replacement segment.
On the basis of position, the cardiac valve market is divided into Mitral Valve, Aortic Valve, and other Positions. The aortic valve segment is projected to register a considerable CAGR during the forecast period on the account of the increasing occurrence of failure of aortic valves. The aortic valves are most susceptible to damage if the patient is exposed to high-dose radiation for the treatment of cancer, high blood pressure, heart attack, or infective endocarditis. The valves also tend to become stiff and clogged as a result of the age-related buildup of calcium.
Based on end-user, the global market is segregated into cardiac research institute, hospital & clinics, and others. The hospital & clinics segment is projected to register a considerable CAGR during the forecast period on the account of the convenience of availing implant services, supportive policies of the government, and patients preferring the hospitals for all-inclusive packages. The growth of the segment is further attributed to the availability of support staff and post-implant care offered at the hospitals.
In terms of region, the global cardiac valve 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 projection period, owing to rising fast-food consumption and associated cardiovascular diseases and complications.
The high acceptance of cardiac valves and the evolution of invasive surgery practices are also likely to play a key role in expanding the market in North America. The growing government funding for the upgradation of the healthcare sector and the promotion of minimally invasive surgery treatments is likely to expand the market growth in the region.
Segments
The global cardiac valve market has been segmented on the basis of
Type
- Trans-Catheter Heart Valve
- Tissue Heart Valve
- Mechanical Heart Valve
- Others
Treatment
- Cardiac Valve Repair
- Cardiac Valve Replacement
Position
- Mitral Valve
- Aortic Valve
- Other Position
End-user
- Cardiac Research Institute
- Hospital & Clinics
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global cardiac valve market are Edwards Lifesciences Corporation; Medtronic; Boston Scientific Corporation; LivaNova PLC; Abbott; CryoLife, Inc.; Colibri Heart Valve; JenaValve Technology, Inc.; Braile Biomédica; TTK; and Lepu Medical Technology (Beijing) Co., Ltd.
These companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base worldwide.
- In January 2023, Abbott received FDA approval for the latest generation transcatheter aortic valve implantation to offer less invasive treatment options by eliminating or reducing the probability of blood leakage around the valve implant.
- In September 2022, Edwards Lifesciences Corporation announced that it has received FDA approval for a transcatheter valve repair system named as PASCAL precision system. This system provides transcatheter edge-to-edge repair for the treatment of patients with degenerative mitral regurgitation.
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