Europe Prosthetic Heart Valve Market By Product (Tissue Heart Valve, Mechanical Heart Valve, Transcatheter Heart Valve) , : Opportunity Analysis and Industry Forecast, 2024-2033
Europe Prosthetic Heart Valve Market
The Europe prosthetic heart valve market was valued at $2.5 billion in 2023 and is projected to reach $7.1 billion by 2033, growing at a CAGR of 11.1% from 2024 to 2033.
A prosthetic heart valve is an artificial device that replaces the damaged native valves of the human heart. Its functioning remains similar to the natural valves, which open and close during every heartbeat to facilitate efficient flow of blood into the whole body. Prosthetic valves are either bioprosthetic that are made from natural tissues extracted from animals or humans. Or they are mechanical, which are created using robust materials such as titanium or carbon. The durability of these devices ensures their functioning for 20-30 years and reduces the possibility of blood clotting near the surface.
The exponentially increasing geriatric population in Europe is expected to increase the number of cases of cardiovascular disorders in the coming years. This is poised to fuel the need for prosthetic heart valves and propel the growth of the market. In addition, rapid adoption of technological advancements in the healthcare industry is a key driver of the Europe prosthetic heart valve market. For instance, the advent of minimally invasive surgical procedures such as transcatheter-based implantation has led to short recovery times and improved clinical outcomes. To enhance the efficacy of the device, the trend of integrating wireless smart sensors into the valves is gaining prominence. These sensors monitor the pressure gradient and blood flow through the heart in real time, enabling early detection of issues post-surgery.
However, concerns pertaining to the risks associated with the implantation of prosthetic heart valves hamper the development of the market. According to Medindia—an Indian health website—mechanical heart valves have a high possibility of thrombotic and thromboembolic complications, resulting in their failure in 10-15% of the implantation cases. Furthermore, around 3-9% of the surgeries exhibit the risk of death of patients. On the contrary, ongoing research studies to develop biomimetic prosthetic valves are expected to reduce the associated risks and present lucrative opportunities for the market expansion. These types of valves are a combination of synthetic and natural materials that possess enhanced durability and reduced risk of mechanical wear. Therefore, the development of ingenious, long-lasting valves is poised to open new avenues for the Europe prosthetic heart valve market.
Segment ReviewThe Europe prosthetic heart valve market is segmented into product and region. On the basis of product, the market is divided into tissue heart valve, mechanical heart valve, and transcatheter heart valve. Country wise, it is analyzed across Germany, France, the UK, Italy, Spain, and Rest of Europe.
Key FindingsOn the basis of product, the transcatheter heart valve segment held a high share of the market in 2023.
Competition AnalysisThe leading players operating in the Europe prosthetic heart valve market include Bracco, Edwards Lifesciences Corporation, Medtronic, Boston Scientific Corporation, Abbott Laboratories, Artivion, Inc., Meril Life Sciences Pvt. Ltd., ShockWave Medical, Inc., Novostia SA, and JenaValve Technology, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy ProductTissue Heart Valve
Stented Tissue Heart Valve
Stentless Tissue Heart Valve
Mechanical Heart Valve
Transcatheter Heart Valve
By CountryGermany
France
UK
Italy
Spain
Rest of Europe
Key Market PlayersBracco
Edwards Lifesciences Corporation
Medtronic
Boston Scientific Corporation
Abbott Laboratories
Artivion, Inc
Meril Life Sciences Pvt. Ltd.
ShockWave Medical, Inc.
Novostia SA
JenaValve Technology, Inc.