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Prosthetic Heart Valve Market

Prosthetic Heart Valve Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Medical Devices | Author Name: Sayali

Global prosthetic heart valve market is likely to exhibit a promising growth curve as far as the short-term outlook is considered. The report will uncover the insights into how the market growth will unfold in the next few years.

Rapidly Increasing Demand for Transcatheter Heart Valve to Fuel Growth of Prosthetic Heart Valve Market

Heart valve disease can be either congenital or may develop over time or be the result of an infection. At times, the cause of heart valve disease is unknown. Some of the most common heart valve diseases include stenosis, and regurgitation or backflow due to a prolapsed valve (also known as a leaky valve) that mainly affects the mitral valve, and atresia. During valve replacement surgery, the damaged or faulty valve is replaced with a biologically compatible or mechanical valve that is sewn into the annulus of the native valve. Biological valves may last 10 to 15 years or longer and are made from pig, cow, or human heart tissue. Mechanical valves last longer and do not have to be replaced but patients will need to take blood-thinning medication for the rest of their life to prevent blood clots from forming on the valve. As these devices are considered safer than biological heart valves since they can move water out of the heart chamber through a valve stem rather than via the blood supply, demand remains high. Additionally, they do not require any real surgical procedure to place or remove them from the heart, which remains a strong factor favouring the growth of prosthetic heart valve market.

An artificial one-way valve surgically implanted into a patient’s heart to replace a missing valve. Typically, an artificial heart valve consists of a diaphragm or a single chamber that is filled with a solution or gel. Other varieties of this type of heart valve can include those that are fashioned from silicon, plastic, and metal. Prosthetic heart valves may be made of silicone, neoprene, polymyxin, or other material such as a sponge, or bladder. There are many other reasons why individuals choose to have prosthetic heart valves. Besides the convenience, higher reliability, reduced costs, simplified exercise requirements, less discomfort and recovery time, and improved function continue to uphold popularity of prosthetic heart valves among patients, and doctors alike. This is expected to drive the growth of prosthetic heart valve market.

Increasing Prevalence of Heart Valve Diseases, and VHD Elevate the Growth Prospects of Prosthetic Heart Valve Market

The expansion of prosthetic heart valve market can be attributed to several factors, including the high prevalence of heart valve diseases, the simplicity of implanting, an increase in the number of centers performing transcatheter heart valve surgery, and an increase in the patient population, which has increased the number of transcatheter aortic valve replacement operations. For instance, a research study titled "Epidemiology of aortic valve stenosis (AS) and aortic valve incompetence (AI): Is the prevalence of AS/AI similar in different parts of the world?" published in February 2020, found that the epidemiology of aortic valve disease differs significantly between high-income and low-income countries and that the prevalence of aortic stenosis (AS) increases exponentially with age, with 0.2 Such studies suggest that the demand for transcatheter heart valves is expected to rise soon when they are employed in patients who have aortic valve stenosis and incompetence. Additionally, rising healthcare costs are anticipated to support the expansion of prosthetic heart valve market. For instance, the Centers for Medicare & Medicaid Services (CMS) predicts that between 2018 and 2027, U.S. health spending will increase at an average pace of 5.5 percent annually, reaching approximately US$ 6.0 Tn.

Over the projection period, it is anticipated that rising valvular heart disease (VHD) prevalence will fuel the growth of prosthetic heart valve market. For instance, aortic stenosis was linked to a mortality rate of 106.3 per 1 million people, according to a study published in the Journal of the American College of Cardiology in March 2019 titled "Epidemiology and Trends of Aortic Stenosis Mortality in the United States (1999-2016)". Non-Hispanic whites had the highest mortality rate, followed by Hispanics and non-Hispanic blacks. Additionally, the study found that age-adjusted mortality increased between the periods.

Ascending Aortic Valve Disease Prevalence Uplifts Scope of Growth for Prosthetic Heart Valve Market

By disease, the aortic valve disease segment is anticipated to generate significant revenue for prosthetic heart valves. This increase is mainly related to the high prevalence of AVD, the most prevalent valvular heart disease worldwide. According to data, about 13 million people in Europe receive valvular heart disease diagnoses yearly, wityearlymated 100 million people worldwide. Given that severe AVD is typically treated with prosthetic aortic valve replacement, this increases the need for various artificial heart valves, in turn pushing the prosthetic heart valve market ahead.

Proliferating Heart Valve Problems to Drive North America’s Prosthetic Heart Valve Market

North America is the largest user of Prosthetic Heart Valves and is expected to grow at the fastest rate throughout the forecast period. The United States has had a sizable portion of the market in North America. The high frequency of heart valve problems, product improvements, the volume of heart valve replacement surgeries, and the well-established healthcare infrastructure are the main drivers of the market's growth. For instance, according to the 2022 American College of Cardiology Foundation, valvular heart diseases (VHD) are becoming more common in the United States, where more than 5 million people are diagnosed with them each year, while up to 1.5 million Americans experience aortic stenosis (AS). A little over 500,000 of these patients have severe AS.

Several industry participants are also carrying out strategic efforts, supporting the market's expansion. For instance, Abbott announced in September 2021 that the US Food and Drug Administration (USFDA) had authorized the company's Epic Plus and Epic Plus Supra Stented Tissue Valves to expand the range of treatment choices for patients with aortic or mitral valve disease. The U.S. healthcare system is heavily impacted by valvular heart disease (VHD). The American College of Cardiology estimates that 5 million Americans are diagnosed annually with HVD. Aortic stenosis affects 1.5 million people annually; roughly 500,000 have the condition in its most severe form. Additionally, there are approximately 4.0 million individuals with severe mitral valve insufficiency and 250,000 incident cases of mitral regurgitation annually. Due to scarring in the valve cusp from ageing, and calcium buildup, VHD primarily affects the elderly population. In 2018, the prevalence of VHD was 0.7% and 13.0%, respectively, in the population between the ages of 18 and 44 and 75. Therefore, one of the major market drivers in North America is the rapidly expanding senior population. According to the Administration on Aging (AoA), 46.2 million people in the United States were 65 or older in 2018 or 14.5 percent of the total population. By 2060, this figure is projected to increase to 98 million. The US prosthetic heart valve market is anticipated to develop due to an aging population and the subsequent rise in the prevalence of VHD.

Global Prosthetic Heart Valve Market: Competitive Landscape

The first polymer valve implanted in a human, the TRIA biopolymer heart valve, was the subject of the first clinical results published by Foldax, Inc. in December 2021. According to the preliminary feasibility study, the TRIA surgical aortic valve satisfied all of its primary goals in one year, including safety, clinically meaningful improvement in New York Heart Association (NYHA) class, and improvement in valve effective orifice area (EOA). On the other side, To offer a treatment option for those suffering from end-stage biventricular heart failure, CARMAT, the creator and developer of the most sophisticated total artificial heart, disclosed the first implant of its Aeson bioprosthetic artificial heart in a commercial environment in July 2020.

A few of the major prosthetic heart valve market players include On-X Life Technologies, Medtronic, Boston Scientific Corporation, Edwards Lifesciences, Inc., Cryolife, Inc., Micro Interventional Devices, Inc., St. Jude Medical, Inc. (Abbott), and Sorin Group.

Global Prosthetic Heart Valve Market is Segmented as Below:

By Market, by Product

  • Transcatheter heart valve
  • Tissue/Bioprosthetic heart valve
  • Mechanical heart valve

Market, by Diseases

  • Aortic valve disease
  • Mitral valve disease
  • Pulmonary valve disease

Market, by End-use

  • Hospitals
  • Ambulatory Surgical Centers
  • Cardiac Centers
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • India
    • China
    • Rest of Asia Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Elements Included In The Study: Global Prosthetic Heart Valve Market

  • Prosthetic Heart Valve Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2021
  • Market Value at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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