Heart Valves Market Growth, Size | Industry Trends 2023

The global heart valves market size was valued at USD 10.28 billion in 2022 and is poised to grow at a significant CAGR of 9.8% during the forecast period 2023-29. One driving factor of the Heart Valves market is the increasing prevalence of cardiovascular diseases. Cardiovascular diseases, including heart valve disorders, are a leading cause of morbidity and mortality worldwide. Factors such as sedentary lifestyles, unhealthy diets, and aging populations contribute to the rising incidence of these conditions. As the prevalence of heart valve diseases grows, the demand for Heart Valves as a treatment option increases. This driving factor highlights the need for effective and durable solutions to address the growing burden of cardiovascular diseases.

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The global heart valves market segmentation:
1) By Product Type: Replacement (Aortic, Mitral, and Others), and Repair
2) By Valve Type: Tissue Valve and Mechanical Valve
3) By Procedure: Surgical and Transcatheter
4) By End User: Hospitals, and Specialty Clinics & Others

The most anticipated segment in the heart valve market is the transcatheter heart valves (THV) segment. Transcatheter heart valves offer a minimally invasive alternative to open-heart surgery for patients who are at high risk or ineligible for traditional surgical valve replacement. These valves are delivered and deployed using a catheter-based procedure, avoiding the need for a sternotomy, and reducing surgical trauma. The transcatheter heart valve segment is anticipated to witness significant growth due to increasing adoption, advancements in the valve design, expanding indications for use, and ongoing technological innovations aimed at improving device performance and patient outcomes. The growing demand for less invasive procedures and improved patient comfort is driving the market's focus on transcatheter heart valves.

Asia Pacific Leads the Global Heart Valves Market:
Asia Pacific, the heart valves market holds a market share of 38.6% in 2022 and the market is expected to grow at a significant CAGR during the forecast period driven by economic growth, rising middle-class population, and government initiatives to improve healthcare infrastructure. The increased healthcare spending allows for greater access to advanced cardiac care, including surgical interventions for heart valve diseases. The availability of financial resources and improved healthcare facilities contribute to the growth of the heart valve market in the Asia Pacific.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.

The heart valves market further reveals that the key players increasingly adopting strategies such as the launch of newer products, frequent product approvals, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region.

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Key players' profiles in the Heart Valves Market report are Edwards Lifesciences Corporation, Abbott, Medtronic, LivaNova PLC, Boston Scientific Corporation, CryoLife, Inc., Micro Interventional Devices, Inc.

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