Pune, India, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Aortic valve repair and aortic valve replacement are methods that treat diseases affecting the aortic valve. The aortic valve is one of four valves that regulate blood flow through the heart. The aortic valve separates the heart's main pumping chamber and the main artery that supplies oxygen-rich blood to body. Aortic valve repair or aortic valve replacement treats aortic valve disease and help restore normal blood flow, reduces symptom, prolong life and help preserves the function of the heart muscle.
Aortic Valve Replacement Devices Market in terms of revenue was estimated to be worth $7.11 billion in 2022 and is poised to reach $18.07 billion by 2030, growing at a CAGR of 12.4% during 2022–2030 according to a new report published by The Insight Partners.
The factors driving the growth of the aortic valve replacement devices market include the rising number of aortic valve replacement surgeries and increasing demand for minimally invasive techniques.
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Browse Comprehensive TOC on "Aortic Valve Replacement Devices Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Product (Sutureless Valve and Mechanical Valve), Surgery (Minimally Invasive Surgery and Open Surgery), End User (Hospitals & Clinics, Ambulatory Surgery Centers, and Others), and Geography."
List of Tables - 89
List of Figures - 60
No. of Pages – 165
Global Aortic Valve Replacement Devices Market Scope:
| Report Coverage | Details |
| Market Size Value in | USD 7.11 Billion in 2022 |
| Market Size Value by | USD 18.07 Billion by 2030 |
| Growth rate | CAGR of 12.4% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
| Segments covered | Product, Surgery, End User, and Geography |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends |
Global Aortic Valve Replacement Devices Market: Segmental Overview
The “Global Aortic Valve Replacement Devices Market” is segmented into product, surgery, end user, and geography.
Based on product, the aortic valve replacement devices market is segmented into mechanical valve and sutureless valve. The sutureless valve segment held a larger market share in 2022 and is anticipated to register a higher CAGR of 12.8% from 2022 to 2030. A sutureless aortic valve replacement device is a bioprosthetic valve designed for implementation without the need for traditional suturing, which is required to secure the valve in a position. These valves are typically made from biological materials. The valve is attached to a stent or frame that can expand and secure it in place once it is positioned correctly within the patient's native aortic valve annulus. The main advantage of sutureless aortic valves is that they can simplify the surgical procedure, reducing surgical time and potentially improving outcomes, especially in patients at higher risk or with limited surgical access due to other medical conditions. As with any medical procedure, the choice of aortic valve replacement device, including sutureless valves, depends on the patient's specific condition, overall health, and individual risk factors.
Thus, the aforementioned factors are anticipated to boost the aortic valve replacement devices market for the sutureless valve segment.
Based on surgery, the aortic valve replacement devices market is divided into open surgery and minimally invasive surgery. The minimally invasive surgery segment held a larger market share in 2022 and is anticipated to register a higher CAGR of 12.8% from 2022 to 2030. Minimally invasive surgery for aortic valve replacement is a less invasive approach compared to traditional open surgery. It involves making smaller incisions, often using specialized surgical instruments and video-assisted technology, to access the heart to replace a poorly working aortic valve with an artificial valve, either a mechanical valve or a bioprosthetic valve. The potential benefits of minimally invasive techniques include shorter hospital stays, reduced scarring, and faster recovery times (in normal conditions). TAVR operations are chosen in most cases because they cause less tissue damage and are followed by a quicker recovery time. According to the New England Journal of Medicine, since the inception of this technique in 2007, the number of TAVR surgeries has significantly increased, as surgical replacement has proven to be unsuitable for older patients. As medical technology continues to advance, these minimally invasive approaches offer more options and improved outcomes for patients requiring aortic valve replacement.
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Based on end user, the aortic valve replacement devices market is segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment held the largest market share in 2022 and is anticipated to register the highest CAGR of 12.8% from 2022 to 2030. Hospitals & clinics are the largest end users of aortic valve replacement devices, which can be used for treating patients from different age groups suffering from various medical conditions. Many patients visit hospitals to seek treatments for their acute and chronic conditions. Medical staff at hospitals offer convenient services and the best care to patients. Thus, hospitals aim to restore and maintain the public's good health. Staff members employed in hospitals are aware of different aortic valve replacement devices. The rising prevalence of chronic diseases, growing geriatric population, and increasing number of hospitals primarily contribute to the growth of the aortic valve replacement market for the hospitals segment.
Global Aortic Valve Replacement Devices Market: Competitive Landscape
Abbott Laboratories, Medtronic Plc, Boston Scientific Corp, LivaNova Plc, Edwards Lifesciences Corp, Braile Biomedica Industry, Commerce and Representations Ltd , Artivion Inc, JenaValve Technology Inc., Venus MedTech HangZhou Inc., and Labcor Laboratorios Ltda are among the key players focusing on expanding and diversifying their market presence and acquiring a novel customer base, tapping prevailing business opportunities in the aortic valve replacement devices.
Global Aortic Valve Replacement Devices Market - Key Industry Dynamics:
Drivers:
- Rising Number of Aortic Valve Replacement Surgeries
- Increasing Demand for Minimally Invasive Techniques
Restraints
- Product Recalls
- Stringent Regulations Regarding Structure Heart Devices
Opportunities
- Advancements in Aortic Valve Replacement Devices
Future Trends
- Increasing Number of Clinical Studies
Recent Developments:
In January 2023, Abbott received FDA approval for the Navitor transcatheter aortic valve implantation (TAVI) system to treat people with severe aortic stenosis at high risk of open-heart surgery. Navitor is the latest addition to the company's extensive transcatheter structural heart portfolio, which offers physicians and patients less invasive treatment options for a range of serious heart diseases.
In September 2022, Medtronic announced the expansion of its newest-generation, self-expanding TAVR system—the Evolut FX TAVR system—in the US. Evolut FX added new features to the existing Evolut platform to enhance the ease of use and predictable valve deployment for physicians.
In January 2023, Abbott received FDA approval for the Navitor transcatheter aortic valve implantation (TAVI) system to treat people with severe aortic stenosis at high risk of open-heart surgery. Navitor is the latest addition to the company's extensive transcatheter structural heart portfolio, which offers physicians and patients less invasive treatment options for a range of serious heart diseases.
In September 2022, Edwards Lifesciences launched SAPIEN 3 Ultra RESILIA valve, which includes Edwards' breakthrough RESILIA tissue technology with the industry-leading SAPIEN 3 Ultra transcatheter aortic heart valve. The launch follows recent US Food and Drug Administration (FDA) approval.
In September 2021, Abbott received FDA approval for its Epic Plus and Epic Plus Supra Stented Tissue Valves to improve therapy options for people with aortic or mitral valve disease. With this new device, Abbott expanded its Epic surgical valve platform.
In August 2021, CORCYM enrolled the first patient in the mitral, aortic, and tricuspid post-market study in a real-world setting, i.e., MANTRA. The first implantation was performed at Citta di Lecce Hospital in Italy with a Bicarbon aortic mechanical valve.
In August 2021, the first Made in India 3D printed heart valve was developed in Chennai. The new heart valves were developed using 3D printers, which could overcome the problems related to artificial heart valves.
In September 2020, Boston Scientific Corporation introduced the ACURATE neo2 aortic valve system in Europe. This next-generation TAVI technology—a new platform designed with multiple features to improve the clinical performance of the original ACURATE neo platform—had an expanded indication for patients with aortic stenosis compared to the aortic valve system of the previous generation.
Report Spotlights:
- Progressive industry trends in the aortic valve replacement devices market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the aortic valve replacement devices market from 2022 to 2030
- Estimation of global demand for aortic valve replacement devices
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the aortic valve replacement devices market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- Size of the aortic valve replacement devices market size at various nodes
- Detailed overview and segmentation of the market, as well as the aortic valve replacement devices industry dynamics
- Size of the aortic valve replacement devices market in various regions with promising growth opportunities
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