Pune India, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the prosthetic heart valve market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the prosthetic heart valve market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global prosthetic heart valve market are Boston Scientific Corporation, Medtronic plc., Abbott Laboratories, CryoLife, Inc., Edwards Lifesciences Corporation, LivaNova PLC, Braile Biomedica, Colibri Heart Valve, LLC, and JenaValve Technology, Inc. among other. To achieve a substantial market share in the worldwide prosthetic heart valve market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The market for prosthetic heart valves is anticipated to expand quickly as the incidence of heart valve diseases increases and regulatory requirements for cutting-edge and new prosthetic heart valves rise. The burden of valvular heart disease on the global healthcare system is significant (VHD). Nearly 5 million Americans are diagnosed with HVD annually, according to the American College of Cardiology. Due to calcium buildup and scarring in the valve cusp brought on by aging, VHD primarily affects older persons. Therefore, it is anticipated that the global market for prosthetic heart valves will expand in the years to come due to the growing aging population and the consequent rise in VHD cases. Due to rigorous rules and the high prevalence of cardiac issues, the prosthetic valve industry has also seen a number of clinical studies in recent years, particularly in the countries of Europe. A prosthetic heart valve is a synthetic part that is surgically implanted to replace heart valves that are sick or damaged. Heart valves help to control the blood flow via the heart. Heart valve replacement surgery is required as a result of inadequate blood flow brought on by malfunctioning heart valves. Prosthetic heart valves reduce the morbidity and mortality associated with cardiac valve diseases. Cardiac valve issues can be congenital or acquired, and occasionally the underlying causes are unknown. Although heart valve diseases cannot be fixed, they can be avoided or delayed with the appropriate care and diet.
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Scope of Prosthetic Heart Valve Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, End-User, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Boston Scientific Corporation, Medtronic plc., Abbott Laboratories, CryoLife, Inc., Edwards Lifesciences Corporation, LivaNova PLC, Braile Biomedica, Colibri Heart Valve, LLC, and JenaValve Technology, Inc. among other. |
Segmentation Analysis
Biological/tissue heart valves is expected to be the fastest-growing segment in 2022.
The product segment is transcatheter heart valves, biological/tissue heart valves, and mechanical heart valves. The biological/tissue heart valves segment is expected to witness the highest growth rate during the forecast period. Biological heart valves are gaining popularity as a result of their lower risk of clot formation. The prosthetic heart valve market is predicted to be driven by factors like less anticoagulant therapy being needed and a lower risk of clot formation with tissue heart valves, much like the aging population.
Hospitals is expected to be the fastest-growing segment in 2022.
The end-user segment is ambulatory services and hospitals. The hospitals segment is expected to witness the highest growth rate during the forecast period. The availability of state-of-the-art equipment, enhanced healthcare infrastructure, the presence of qualified medical experts, and rising patient preferences for hospital treatments are some of the key factors contributing to this segment's growth.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the prosthetic heart valve market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North America region witnessed a major share. In North America, the United States has held a substantial share of the market. The market's expansion is primarily driven by the high frequency of heart valve issues, product advancements, the quantity of heart valve replacement procedures, and the well-established healthcare infrastructure. For instance, the American College of Cardiology Foundation estimates that up to 1.5 million Americans have aortic stenosis, while valvular heart disorders (VHD) are becoming increasingly prevalent in the United States, where more than 5 million people are diagnosed with them each year (AS). Of these patients, slightly more than 500,000 have severe AS.
Country Analysis
- Germany
Germany's prosthetic heart valve market size was valued at USD 0.79 billion in 2022 and is expected to reach USD 1.9 billion by 2030, at a CAGR of 11.6% from 2023 to 2030.
Due to factors including rising demand for minimally invasive procedures like transcatheter aortic valve replacement and higher frequency of cardiac valve disease, the market for prosthetic heart valves is growing in Germany (TAVR).
- China
China’s prosthetic heart valve market size was valued at USD 0.82 billion in 2022 and is expected to reach USD 2.01 billion by 2030, at a CAGR of 11.9% from 2023 to 2030.
In January 2022, JenaValve Technology, Inc. entered into a strategic investment and exclusive technology licensing agreement with the Chinese firm Peijia Medical Limited. Peijia has made and will continue to make a cash and equity investment in JenaValve in exchange for the exclusive rights to develop and market JenaValve's cutting-edge Trilogy TAVR systems in the Greater China region. This investment will be used to treat patients with either severe symptomatic aortic regurgitation (AR) or severe symptomatic aortic stenosis.
- India
India's prosthetic heart valve market size was valued at USD 0.63 billion in 2022 and is expected to reach USD 1.5 billion by 2030, at a CAGR of 11.8% from 2023 to 2030.
India's population is ageing faster than ever before, and its citizens live longer on average than those throughout the world. The presence of a geriatric population would enhance the need for prosthetic heart valve products in the country in the future due to the increased prevalence of heart disease in this age group.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the prosthetic heart valve market is mainly driven by the increase in cardiovascular diseases.
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