Global aortic valve market players and analysis by type, end user and region - Forecast till 2027. The global aortic valve market was valued at USD 6,454.91 million in 2018 and is likely to grow at an 11.1% CAGR between 2020- 2027, as per the recent report by Market Research Future (MRFR). Aortic valves that have deteriorated due to heart valve disorders such atresia, regurgitation, and stenosis are surgically replaced in the heart. By replacing the damaged valves with prosthetic heart valves, the mortality and morbidity related to aortic valve issues will be reduced. Biological and mechanical aortic valves are the two varieties that are used in both open surgery and minimally invasive surgery.
Many factors are causing the global market for aortic valves to grow. According to the most recent MRFR study, these causes include aortic regurgitation and aortic stenosis in addition to favourable government initiatives to increase knowledge of valve replacement surgeries and the rising demand for minimally invasive procedures. An ageing population, the development of innovative and creative products, and rising product approvals are further factors promoting market growth.
On the contrary, changing regulatory landscapes and product recalls are factors that may limit the global aortic valve market growth over the forecast period.
Key players of aortic valve market
Eminent players profiled in the global aortic valve market report include TTK HealthCare (India), JenaValve (US), Colibri Heart Valve (US), Biotronik (Germany), CryoLife (US), Edwards Lifesciences Corporation (US), LivaNova PLC (UK), Abbott Laboratories (US), Medtronic(US), and Boston Scientific Corporation (US).
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global aortic valve market based on end user, surgery, and type of valve.
By valve type, the global aortic valve market is segmented into biological and mechanical. Of these, the mechanical valve segment will lead the market over the forecast period for its increasing use in replacement procedures. On the other hand, the biological valves segment will grow at a fast pace over the forecast period for growing awareness about the different benefits of using biological valves in the replacement procedure.
By surgery type, the global aortic valve market is segmented into open surgery and minimally invasive surgery. The minimally invasive surgery segment is again segmented into trans-subclavian, transapical, transaortic implantation, and transfemoral. Of these, the minimally invasive surgery segment will dominate the market over the forecast period for faster recovery, less pain, and shorter hospital stay in comparison to open-heart surgery.
By end users, the global aortic valve market is segmented into ambulatory surgery centers and hospitals. Among these, hospitals are likely to command the largest share in the aortic valve market over the forecast period.
Regional Analysis
Based on the region, the global aortic valve market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will command the largest share in the market over the forecast period. Increasing cases of cardiovascular diseases and the presence of top market players in the region are adding market growth in the region.
The global aortic valve market in Europe is predicted to have the second-largest share over the forecast period. Increasing prevalence of heart disease and growing support to control cardiovascular diseases from regulatory authorities are adding market growth in the region.
The APAC region is predicted to experience rapid growth in the global aortic valve market during the projected period. The region's market is expanding due to shifting lifestyles in India, an ageing population, and rising healthcare costs.
Because of its restricted access to cutting-edge technologies and its underdeveloped healthcare system, the MEA is expected to have the smallest share of the global aortic valve market during the forecast period.
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