The prosthetic heart valve market size was valued at USD 7.86 billion in 2023 and is expected to reach USD 20.43 billion by 2032, growing at a CAGR of 11.20% from 2023 to 2032.
Key Takeaways
- North America contributed more than 41% of revenue share in 2022.
- Asia-Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
- By product, the transcatheter heart valve segment has held the largest market share of 41% in 2022.
- By product, the mechanical heart valve segment is anticipated to grow at a remarkable CAGR of 12.4% between 2023 and 2032.
- By position, the mitral valve segment generated over 38% of revenue share in 2022.
- By position, the 3D printing segment is expected to expand at the fastest CAGR over the projected period.
The Prosthetic Heart Valve Market is a dynamic sector within the healthcare industry that focuses on the development, manufacturing, and distribution of artificial heart valves. These devices are crucial in treating heart valve diseases, offering patients a lifeline when their natural valves fail to function properly. The market has witnessed significant growth in recent years, driven by advancements in technology, an aging population, and the rising prevalence of cardiovascular diseases globally. The increasing awareness about the availability of prosthetic heart valves and the growing acceptance of minimally invasive surgical procedures have further fueled market expansion.
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Growth Factors:
One of the primary growth factors is the continuous innovation in prosthetic heart valve technologies. The industry has seen a shift towards transcatheter heart valves, which are less invasive compared to traditional surgical procedures. This shift not only reduces patient recovery time but also expands the potential patient pool eligible for valve replacement. Additionally, a surge in research and development activities has led to the introduction of more durable and longer-lasting prosthetic heart valves, addressing concerns about the lifespan of these devices.
Another driving force is the aging population worldwide. As people age, the risk of heart valve diseases increases, creating a higher demand for prosthetic heart valves. Moreover, the market has benefited from increased healthcare spending, improved reimbursement policies, and a growing emphasis on early diagnosis and intervention.
Market Scope
Prosthetic Heart Valve Market Scope
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 11.20% |
| Market Size in 2023 | USD 7.86 Billion |
| Market Size by 2032 | USD 20.43 Billion |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Product and By Position |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Also read: Blood Preparation Market Size To Grow USD 81.99 Bn By 2032
By Product:
- Mechanical Heart Valves: Mechanical heart valves are precision-engineered devices typically crafted from durable materials like metal or carbon. They offer longevity and are suitable for patients requiring a long-term solution. This segment caters to individuals, especially younger patients, who prioritize the durability and lasting performance of their prosthetic heart valves.
- Bioprosthetic Heart Valves: Bioprosthetic heart valves, alternatively, are manufactured from biological tissues sourced from animals, commonly pigs or cows. These valves provide a more natural option and are favored by patients who may not tolerate the long-term use of anticoagulant medications associated with mechanical valves. The bioprosthetic segment appeals to those seeking a balance between functionality and a reduced need for ongoing medical therapy.
- Transcatheter Heart Valves: Technological advancements have led to the development of transcatheter heart valves. This innovative product segment allows for minimally invasive procedures, offering an alternative to traditional open-heart surgery. Transcatheter valves are particularly beneficial for patients who may not be suitable candidates for surgery or prefer less invasive interventions.
By Position:
- Aortic Valve Replacement: Aortic valve replacement is a critical segment within the Prosthetic Heart Valve Market. Patients with aortic valve disorders, whether stenosis or regurgitation, often require replacement. Prosthetic valves designed for aortic positions address the unique hemodynamic and structural requirements of the aorta, providing effective solutions for these patients.
- Mitral Valve Replacement: The mitral valve replacement segment focuses on addressing issues related to the mitral valve, such as mitral regurgitation or stenosis. Prosthetic valves tailored for the mitral position play a crucial role in restoring proper cardiac function, ensuring optimal blood flow and preventing complications associated with mitral valve disorders.
- Tricuspid Valve Replacement: While less common than aortic and mitral valve replacements, tricuspid valve replacement is essential for patients with tricuspid valve dysfunction. Prosthetic valves designed for the tricuspid position contribute to the comprehensive treatment of valvular heart diseases, promoting overall cardiac health.
Research Approach
The comprehensive report on the global prosthetic heart valve market begins with an overview, followed by the scope and objectives of the study. The report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products. Following this, the report provides detailed explanation of objectives of this study and laid down by accredited agencies in the purview of research in the global prosthetic heart valve market.
It is followed by market introduction, market dynamics, and an overview of the global market, which includes analysis of market drivers, restraints, and trends pertaining to the global market. Furthermore, Y-o-Y growth analysis with elaborated insights has been provided in order to understand the Y-o-Y growth trend of the global market.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller sections. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
Prosthetic Heart Valve Market Players
- Edwards Lifesciences Corporation
- Medtronic plc
- Abbott Laboratories
- Boston Scientific Corporation
- CryoLife, Inc.
- LivaNova PLC
- St. Jude Medical, Inc.
- Braile Biomedica
- Micro Interventional Devices, Inc.
- JenaValve Technology, Inc.
- Colibri Heart Valve, LLC
- Meril Life Sciences Pvt. Ltd.
- Jenavalve Technology
- Labcor Laboratórios Ltda.
- TTK Healthcare Limited
Segments Covered in the Report
By Product
- Mechanical Heart Valve
- Tissue Heart Valve
- Stented Tissue Heart Valve
- Stentless Tissue Heart Valve
- Transcatheter Heart Valve
By Position
- Mitral Valve
- Aortic Valve
- Other Positions
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Prosthetic Heart Valve Market
5.1. COVID-19 Landscape: Prosthetic Heart Valve Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Prosthetic Heart Valve Market, By Product
8.1. Prosthetic Heart Valve Market Revenue and Volume, by Product, 2023-2032
8.1.1. Mechanical Heart Valve
8.1.1.1. Market Revenue and Volume Forecast (2020-2032)
8.1.2. Tissue Heart Valve
8.1.2.1. Market Revenue and Volume Forecast (2020-2032)
8.1.3. Transcatheter Heart Valve
8.1.3.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 9. Global Prosthetic Heart Valve Market, By Position
9.1. Prosthetic Heart Valve Market Revenue and Volume, by Position, 2023-2032
9.1.1. Mitral Valve
9.1.1.1. Market Revenue and Volume Forecast (2020-2032)
9.1.2. Aortic Valve
9.1.2.1. Market Revenue and Volume Forecast (2020-2032)
9.1.3. Other Positions
9.1.3.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 10. Global Prosthetic Heart Valve Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.1.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.1.3.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.1.4.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.3.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.4.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.5.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.6.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.3.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.4.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.5.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.6.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.3.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.4.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.5.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.6.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.5.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.5.3.2. Market Revenue and Volume Forecast, by Position (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.5.4.2. Market Revenue and Volume Forecast, by Position (2020-2032)
Chapter 11. Company Profiles
11.1. Edwards Lifesciences Corporation
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Medtronic plc
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Abbott Laboratories
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Boston Scientific Corporation
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. CryoLife, Inc.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. LivaNova PLC
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. St. Jude Medical, Inc.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Braile Biomedica
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Micro Interventional Devices, Inc.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. JenaValve Technology, Inc.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Why should you invest in this report?
If you are aiming to enter the global prosthetic heart valve market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for prosthetic heart valve are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2023-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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