Press release
Prosthetic Heart Valve Market Trends, Growth Drivers, and Key Players 2024-2031
Prosthetic Heart Valve Market - DataM Intelligence
The Prosthetic Heart Valve Market is expected to grow at a CAGR of 10.8% during the forecast period (2024-2031).
The prosthetic heart valve is surgically implanted in the heart to replace a heart valve that has been damaged due to a heart-related disorder. Heart valve replacement surgery is performed when repair of the valve is not an option, each valve has a tissue flap that opens and closes with every heartbeat.
Prosthetic Heart Valve Industry Trends
The rising regulatory approvals for new and advanced prosthetic heart valves will drive the market growth
Regulatory approvals for new and advanced prosthetic heart valves are one of the key factors fueling the global prosthetic heart valve market. For instance, in March 2018, Abbott has received U.S. Food and Drug Administration (FDA) approval for Masters HP 15mm rotatable mechanical heart valve, which is the world's smallest automatic heart valve, that will allow treating babies and toddlers in need of a mitral or aortic valve replacement. The European countries conduct a maximum number of clinical trials as a result of the high prevalence of heart diseases, such as aortic stenosis and mitral regurgitation.
For instance, in Europe, more than 1.75 million people suffer from aortic stenosis. In addition, mechanical valve trials were highest in Europe (about 45.6%) followed by North America (38.1%). The increasing prevalence of heart valve disease is a major factor driving the market's growth.
For instance, as per the World Heart Federation 2022, rheumatic heart disease is a condition that affects 39 million people worldwide. It is a condition in which the heart valves have been permanently damaged by rheumatic fever.
Furthermore, as per a January 2022 published article, titled "Uncovering the treatable burden of severe aortic stenosis in the UK", the results revealed that in the United Kingdom, in 2019, the prevalence of severe aortic stenosis was 1.48%, including 291,448 men and women aged more than or equal to 55 years. These factors are driving the growth of the market in the forecast period.
Industry Segmentation
By Product type
Transcatheter Heart Valves
Mechanical Heart Valves
Tissue Heart Valves
By End User
Hospitals
Ambulatory Surgical Centers
Cardiac Centers
Industry Key Players
Key players are Medtronic PLC, Edwards Lifesciences Corporation, Boston Scientific Corporation, Jude Medical Inc. (Abbott Laboratories), Symetis SA, Jenavalve Technology Inc., Cryolife Inc., TTK Healthcare Limited, Colibri Heart Valve LLC and Lepu Medical Technology Co. Ltd.
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