Aortic Valve Replacement Market Outlook
According to the report by Expert Market Research (EMR), the global aortic valve replacement market Size reached a value of approximately USD 10.0 billion in 2022. Aided by the growing prevalence of cardiovascular diseases and the rising adoption of cutting-edge medical technologies in the healthcare sector, the market is projected to further grow at a CAGR of 12.1% between 2023 and 2031 to reach a value of USD 27.9 billion by 2031.
Aortic valve replacement is a crucial cardiac treatment performed to replace a damaged aortic valve, which is frequently caused by problems like aortic regurgitation or stenosis. This technique is essential for preserving a healthy blood flow, which safeguards the condition of the heart. Aortic valve replacements are an important surgery in the field of cardiovascular surgeries because in addition to their basic function, they also provide advantages including increased life expectancy and higher quality of life.
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The escalating need for advanced cardiac treatments is the primary driver of the global aortic valve replacement market growth. With the increasing awareness of cardiac health and the risks associated with aortic valve diseases, there has been a substantial shift towards aortic valve replacements. Moreover, the rising incidence of cardiovascular diseases worldwide has further boosted the demand for these surgical procedures.
The growing use of aortic valve replacements in the medical field contributes significantly to the market’s growth. The field of aortic valve replacement has undergone a revolution with the introduction of minimally invasive procedures and the development of transcatheter aortic valve replacement (TAVR). The development of bioprosthetic valves and other medical technology breakthroughs, such as the 3D printing of heart valves, have also made a substantial contribution to the aortic valve replacement market expansion.
The need for aortic valve replacements has also increased due to the growing elderly population around the world, which is more prone to cardiac illnesses. The growing prevalence of unhealthy lifestyles, which has led to an increase in hypertension and cholesterol levels, has also increased the demand for these operations. The aortic valve replacement market is anticipated to experience significant expansion over the next few years as a result of factors like technological developments, an increasing number of cutting-edge surgical procedures, and an increasing investment in research and development activities by major healthcare companies.
Aortic Valve Replacement Market Segmentation
The market can be divided based on product type, procedure, end user, and region.
Market Breakup by Product Type
• Valve Type
• Suture Type
• Sheet Hydrogel
Market Breakup by Procedure
• Minimally Invasive
• Transfemoral Aortic Valve Replacement (TF-AVR)
• Transcatheter Aortic Valve Replacement (TAVR)
Market Breakup by End User
• Ambulatory Surgical Centres
Market Breakup by Region
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global aortic valve replacement companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Medtronic Plc.
• LivaNova PLC
• CryoLife, Inc.
• Edwards Lifesciences Corporation
• Micro Interventional Devices
• Meril Life Sciences Pvt. Ltd.
• JenaValve Technology, Inc.
• Auto Tissue Berlin GmbH
• TTK HealthCare