Global Heart Valves Market Estimated To Reach US$ 18.5 Billion by the end of 2031 with CAGR of 12%

The size of the global heart valves market was estimated at USD 6.58 billion in 2018 and is anticipated to grow to USD 15.98 billion by 2026, at a CAGR of 11.7%.
The heart valve makes ensuring that blood is flowing correctly and under the proper pressure. The backward flow of blood via a valve as opposed to the usual unidirectional flow is known as valve regurgitation. The American Heart Association estimates that 13.7 out of every 1000 Americans had bicuspid aortic valve abnormalities. The need for prosthetic heart valves has increased due to the rising prevalence of cardiac valve disorders. The overall number of aortic valve replacement procedures is anticipated to reach 850,000 by 2020, according to the article "The Year in Cardiology 2017 - Valvular Heart Disease" published in the European Heart Journal. Additionally, the need for minimally invasive procedures and advancements in technology are driving major manufacturers to release novel products on the market, which, in turn, is positively impacting the industry.
Every patient's heart valve anatomy is unique, particularly in the case of the mitral valve, which makes cardiac valve surgery difficult. The most significant trend in the market for heart valves is developing from research and development of 3D printed personalised hearts. Through the use of 3D printing technology, Strait Access Technologies, a business in South Africa, and researchers at ETH Zurich are creating a silicone customised cardiac valve.

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Market Segmentation:
The global heart valves market can be segmented based on various factors, including the type of valve, material, end-users, and region. Here are some of the common segmentation categories for the heart valves market:

Type of Valve:
Mechanical Heart Valves
Biological/Tissue Heart Valves
Transcatheter Heart Valves

Material:
Biological Materials
Polymers
Metals and Alloys

End-users:
Hospitals
Ambulatory Surgical Centers
Cardiac Catheterization Laboratories
Other End-users

Region:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa

These segments can help companies operating in the heart valves market to identify and target specific customer groups, develop tailored marketing strategies, and design products that meet the specific needs of different patient groups. Additionally, understanding these segments can help companies to better analyze market trends, forecast demand, and plan their business strategies accordingly.

Key Players:
Edwards Lifesciences Corporation
Medtronic plc
Abbott Laboratories
Boston Scientific Corporation
LivaNova PLC
CryoLife, Inc.
JenaValve Technology, Inc.
Micro Interventional Devices, Inc.
TTK Healthcare Limited
XELTIS AG

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Regional Analysis:
The heart valves market can be analyzed on the basis of various regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds a significant share of the heart valves market owing to the increasing prevalence of cardiovascular diseases, the presence of major market players, and advanced healthcare infrastructure. The increasing adoption of advanced medical technologies and favorable reimbursement policies are also contributing to the growth of the market in this region. Europe is also a significant market for heart valves, with the presence of a large number of market players and the increasing incidence of cardiovascular diseases. Moreover, the presence of a well-established healthcare system and favorable reimbursement policies are contributing to the growth of the market in this region. The Asia Pacific region is expected to witness significant growth during the forecast period due to the increasing healthcare expenditure, a growing number of patients with heart diseases, and rising awareness about advanced heart valve replacement procedures. Additionally, the increasing adoption of innovative medical technologies and favorable government initiatives are further fueling the growth of the market in this region. Latin America and the Middle East & Africa region are also expected to witness growth in the heart valves market due to the increasing incidence of heart diseases and the increasing adoption of advanced medical technologies in these regions. However, the lack of awareness, limited healthcare infrastructure, and the high cost of heart valve replacement procedures may hinder the growth of the market in these regions.

COVID Impact:
The COVID-19 pandemic has had a significant impact on the heart valves market. Due to the high risk of complications from COVID-19 for individuals with pre-existing heart conditions, there has been an increased demand for heart valve treatments. However, the pandemic has also caused disruptions in the supply chain and delays in elective procedures, which has had a negative impact on the market. Hospitals and clinics have had to prioritize COVID-19 patients, leading to a decrease in non-emergency procedures, including heart valve surgeries. Additionally, travel restrictions and quarantine measures have made it difficult for patients to travel to medical facilities, further reducing the number of procedures being performed. On the other hand, the use of telemedicine has increased during the pandemic, allowing healthcare providers to remotely monitor and manage patients with heart valve conditions. This has helped to mitigate some of the negative impacts of the pandemic on the market. Overall, the impact of COVID-19 on the heart valves market has been mixed, with increased demand due to the high-risk nature of the disease for individuals with heart conditions, but decreased demand due to delays and disruptions in the healthcare system.

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