Prosthetic Heart Valve Market By Product (Mechanical Heart Valve, Tissue Heart Valve, Transcatheter Heart Valve): Global Opportunity Analysis and Industry Forecast, 2024-2035
The prosthetic heart valve market was valued at $8.6 billion in 2023 and is projected to reach $30.3 billion by 2035, registering a CAGR of 11.1% from 2024 to 2035. Prosthetic heart valves serve as synthetic replacements for damaged or diseased heart valves, crucial components that regulate blood flow in and out of the heart's chambers. Dysfunction in these valves can lead to a spectrum of cardiovascular issues, including shortness of breath, fatigue, chest pain, and even heart failure. Designed to mimic the functionality of healthy heart valves, prosthetic heart valves facilitate proper blood circulation throughout the body. The primary types of prosthetic heart valves are mechanical heart valves, tissue heart valves, and transcatheter heart valves.
The growth of the prosthetic heart valve market is primarily driven by increasing prevalence of heart valve diseases, technological advancements in heart valves, and increase in demand for minimally invasive procedures. For instance, according to American College of Cardiology 2021, more than 5 million people are diagnosed with valvular heart diseases (VHD) each year in the U.S. Thus, rise in prevalence of valvular heart diseases (VHD) drives the market growth. In addition, surge in demand for minimally invasive procedures, propelling the adoption of transcatheter heart valve replacement. This approach, highlighted for its reduced invasiveness and quicker recovery, has become increasingly favored over traditional open-heart surgery, driving market growth. Furthermore, a rise in the number of heart valve surgeries across the world is expected to boost the growth of the prosthetic heart valve market. For instance, an article published by National Library of Medicine in 2022, 200,000 heart valve replacement surgeries are performed annually worldwide, and is expected to increase to 8,50,000 by 2050, Thus, rise in number of heart valve surgeries results in demand for prosthetic heart valve and fuels the market growth. The aging of the population is a global phenomenon, and this demographic shift is expected to continue to drive demand for these prosthetic heart valve devices during the forecast period. This increase in cardiac disorders drives the demand for prosthetic heart valves, which are used to treat a range of heart valve diseases, including aortic stenosis, mitral stenosis, and mitral regurgitation. In addition to the surge in prevalence of cardiac disorders and the aging of the population, the prosthetic heart valve market is being driven by increased patient awareness. Patients have become more informed about their health and the available treatment options, and this is leading to increased demand for prosthetic heart valves as a safe and effective treatment option for heart valve diseases. Moreover, increased government initiatives and awareness regarding heart valve diseases foster the growth of the market. Governments around the world invest in R&D of new treatments for heart valve diseases, which has led to the development of advanced prosthetic heart valve devices. In addition, rise in awareness about the symptoms and risk factors associated with heart valve disease have led to more people seeking medical treatment for the condition, which has further driven the growth of the market. The prosthetic heart valve market is segmented on the basis of product and region. By product, the market is categorized into mechanical heart valve, tissue heart valve, and transcatheter heart valve. The tissue heart valve segment is further classified into stented tissue heart valve and stent less tissue heart valve. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA). Major key players that operate in the global prosthetic heart valve market are Abbott Laboratories, Boston Scientific Corporation, ShockWave Medical, Inc., Edward Lifesciences Corporation, Colibri Heart Valve, Medtronic plc, Meril Life Sciences Pvt. Ltd., Labcor Laboratorios Ltda, Artivion, Inc, and JenaValve Technology, Inc. The key players operating in the market have adopted agreement, product launch, product approval, and rebranding as their key strategies to expand their product portfolio
Key Benefits for StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the prosthetic heart valve market analysis from 2023 to 2035 to identify the prevailing prosthetic heart valve market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the prosthetic heart valve market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global prosthetic heart valve market trends, key players, market segments, application areas, and market growth strategies.
Regulatory Guidelines
Historic market data
Key player details (including location, contact details, supplier/vendor network etc. in excel format)
Key Market SegmentsBy ProductTissue Heart Valve
Type
Stented Tissue Heart Valve
Stentless Tissue Heart Valve
Mechanical Heart Valve
Transcatheter Heart Valve
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Meril Life Sciences Pvt. Ltd.
Abbott Laboratories
Labcor Laboratorios Ltda
Artivion, Inc.
Boston Scientific Corporation
LivaNova PLC
Edwards Lifesciences Corporation
ShockWave Medical, Inc.
Medtronic plc
JenaValve Technology, Inc.