What are Major Factors Driving Growth of Aortic Valve Market?

Factors such as increasing prevalence of valvular diseases and rising number of initiatives for imparting awareness regarding valve replacement are expected to supplement the aortic valve market growth at a CAGR of 13.2% during the forecast period (2020–2030). At this rate, the market’s value will increase from $7,568.3 billion in 2019 to $29,146.9 million by 2030.

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Aortic regurgitation and aortic stenosis are the most common valvular diseases. Rheumatic heart disease (RHD) is the most common cause of aortic regurgitation. According to the World Health Organization (WHO), nearly 33 million people around the globe are affected by RHD that accounts for around 2% of the population suffering from cardiovascular diseases (CVDs). These conditions mostly affect the old people. Thus, booming geriatric population will fuel the consumption of aortic valves in the coming years, which, in turn, will drive the market growth.

Another key factor driving the aortic valve market is the growing support from governments, worldwide. Government organizations are taking multiple initiatives to impart knowledge regarding aortic valve replacement procedures. For instance, the European Association of Percutaneous Cardiovascular Interventions (EAPCI) launched Valve for Life initiative in Europe, in 2015. It aims to improve the access to transcatheter valve procedures, enhance the educational standards for healthcare professionals, raise awareness regarding valvular diseases, decrease obstacles for therapy implementation, and end age and gender discrimination in access to medical care, in the region.

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These products and procedures are used in several healthcare facilities. Thus, the end-user segment of the aortic valve market is bifurcated into hospitals and ambulatory surgery centers (ASCs). Between the two, the hospitals category will exhibit the fastest growth in the forecast period. This growth can be attributed to the fact that hospitals are the most advanced facilities and offer optimal patient care. Moreover, surging healthcare spending and an improving healthcare reimbursement structure will propel the growth of the market in this category in the coming years.

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This release was published on openPR.