The Annuloplasty Rings Market Size was valued at USD 31.98 Million in 2022 and is projected to grow from USD 33.08 Billion in 2023 to USD 44.89 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 3.45% during the forecast period (2023 - 2032). The high prevalence of cardiovascular diseases is the key market drivers enhancing the market growth.
High prevalence of cardiovascular diseases is driving the market growth
Increased incidence of cardiovascular diseases (CVDs) is a major factor driving the market for annuloplasty rings. Heart and blood vessel diseases (CVDs) are a group of illnesses that affect the heart and blood vessels and are among the main causes of death and morbidity worldwide. The rise in these illnesses has led to a rise in the need for medical procedures like annuloplasty rings, which treat valve abnormalities that often coexist with CVDs.
The incidence of cardiovascular diseases (CVDs) is rising alarmingly worldwide, with contributing causes including sedentary lifestyles, unhealthy eating habits, smoking, and elevated stress levels. Heart failure, coronary artery disease, and hypertension are among the illnesses that can cause valve abnormalities, such as tricuspid and mitral regurgitation. The heart's effectiveness is hampered by certain valve diseases, which can result in symptoms like exhaustion, breathing difficulties, and potentially fatal consequences.
The need for efficient treatments is growing along with the number of people receiving CVD diagnoses. Annuloplasty rings are essential for treating valvular insufficiencies because they maintain the structure and function of the heart. The ring-shaped area where the heart valve joins to the heart tissue is called the annulus, and it is repaired and reshaped by the rings that are inserted during surgical treatments.
The importance of annuloplasty rings is highlighted by the frequency of valvular heart disorders, which are frequently closely associated with cardiovascular diseases. For instance, mitral regurgitation frequently results from prolapse of the mitral valve, a disorder in which the valve leaflets fail to shut correctly. One of the factors that leads to valve dysfunction is the dilation and distortion of the annulus, the ring-shaped structure that surrounds the valve. By giving the annulus the structural support it needs to regain its natural form and function, annuloplasty rings treat the underlying cause of regurgitation.
Another issue that is frequently linked to CVDs is tricuspid regurgitation, which occurs when the tricuspid valve does not close tightly, allowing blood to flow backward into the right atrium. When used in tricuspid valve repair procedures, annuloplasty rings have demonstrated encouraging outcomes in terms of improving patient outcomes and restoring valve competency.
In addition to producing a sizable patient base, the incidence of CVDs fuels the need for cutting-edge medical technologies like annuloplasty rings, which can successfully treat the underlying valvular irregularities. Manufacturers are spending money on R&D to improve the biocompatibility, functionality, and longevity of these rings in response to consumer demand. Thus, driving the Annuloplasty rings market revenue.
The Annuloplasty Rings Market segmentation, based on application, includes mitral valve repair, tricuspid valve repair and aortic valve repair. The mitral valve repair segment dominated the market in 2022. This is because mitral valve regurgitation (MR), a disease where the mitral valve malfunctions and allows blood to return to the left atrium, is quite common. An estimated 3 million persons in the US have MR, the most prevalent valvular heart condition.
The Annuloplasty Rings Market segmentation, based on distribution channel, includes hospitals, ambulatory surgical centers, specialty clinics and other end users. The hospitals category generated the most income in 2022. Due to the fact that cardiac surgeons usually install annuloplasty rings in hospitals. Hospitals are equipped with the knowledge and resources needed to carry out these treatments in a secure and efficient manner.
Figure 1: Annuloplasty Rings Market, by end user, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Annuloplasty Rings Market dominated this market in 2022 (45.80%). With access to cutting-edge medical technologies and state-of-the-art medical facilities, North America has a highly developed healthcare infrastructure. For instance, the renowned Cleveland Clinic in Ohio, which is well-known for providing excellent cardiovascular care, regularly uses annuloplasty rings during procedures to replace mitral valves. Further, the U.S. Annuloplasty rings market held the largest market share, and the Canada Annuloplasty rings market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ANNULOPLASTY RINGS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Annuloplasty rings market accounts for the second-largest market share. Heart valve issues like mitral and tricuspid regurgitation are prevalent cardiovascular disorders in Europe. Annuloplasty rings are frequently used in surgical procedures to treat these conditions. Further, the German Annuloplasty rings market held the largest market share, and the UK Annuloplasty rings market was the fastest growing market in the European region.
The Asia-Pacific Annuloplasty Rings Market is expected to grow at the fastest CAGR from 2023 to 2032. A large increase in cardiovascular disorders, especially valvular heart ailments, has been observed in APAC countries. For instance, aging populations and changing lifestyles are contributing to an increase in the prevalence of valvular heart disorders in India. Consequently, there is an increasing need for cardiac procedures and associated equipment such as annuloplasty rings. Moreover, China’s Annuloplasty rings market held the largest market share, and the Indian Annuloplasty rings market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Annuloplasty rings market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Annuloplasty rings industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Annuloplasty rings industry to benefit clients and increase the market sector. In recent years, the Annuloplasty rings industry has offered some of the most significant advantages to medicine. Major players in the Annuloplasty rings market, including Abbott Laboratories, AFFLUENT MEDICAL, BioStable Science and Engineering Inc., Boston Scientific Corp., Braile Biomedica, Corcym Srl, CORONEO, Edwards Lifesciences Corp., Genesee BioMedical Inc., Labcor, Medtentia International Ltd Oy, Medtronic Plc, Micro Interventional Devices Inc., and Valcare Medical and others, are attempting to increase market demand by investing in research and development operations.
The medical technology business Boston Scientific Corp. (Boston Scientific) creates, produces, and markets devices for a variety of interventional medical specialties. Products in the following fields are available from the company: neurology, orthopedic surgery, pain management, pulmonology, urology, vascular surgery, female pelvic medicine, gynecology, interventional cardiology, and interventional radiology. Boston Scientific provides services to medical offices, clinics, hospitals, and outpatient centers worldwide. The corporation operates production plants in the US, Puerto Rico, Brazil, Ireland, Costa Rica, and Malaysia. In addition to selling goods directly, it has a network of distributors and dealers throughout the Americas, Asia Pacific, Europe, and the Middle East. US-based Boston Scientific's main office is located in Marlborough, Massachusetts.
The medical technology business Edwards Lifesciences Corp. (Edwards Lifesciences) is involved in the research, development, production, and distribution of equipment for surgical monitoring, critical care, and structural heart disease. Products from the firm include transcatheter heart valves, hemodynamic monitoring devices, surgical valve replacement, repair devices, pressure monitoring devices, and associated instruments and accessories. Its products are used in a number of therapeutic settings, including as transcatheter aortic valve replacement (TAVR), blood conservation, infection control, faster recovery following surgery, and the treatment of sepsis, hypotension, and clotting. In addition to using a network of independent distributors throughout North America, Europe, and Asia-Pacific, the company markets its products directly to consumers. US-based Edwards Lifesciences' main office is in Irvine, California.
Key Companies in the Annuloplasty Rings Market Include
Annuloplasty Rings Industry Developments
September 2022: Cardiac Implants LLC reported that its novel Tri-Ring percutaneous annuloplasty device, used in conjunction with a therapeutic adjustment technique, had successfully completed its first deployment of the annuloplasty ring.
January 2021: Valcare Medical, a company that develops transcatheter mitral and tricuspid valve replacement and repair technologies, has completed the first-ever trans-septal delivery of the AMEND annuloplasty ring in a human.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 31.98 Million |
| Market Size 2023 | USD 33.08 Million |
| Market Size 2032 | USD 44.89 Million |
| Compound Annual Growth Rate (CAGR) | 3.45% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Abbott Laboratories, AFFLUENT MEDICAL, BioStable Science and Engineering Inc., Boston Scientific Corp., Braile Biomedica, Corcym Srl, CORONEO, Edwards Lifesciences Corp., Genesee BioMedical Inc., Labcor, Medtentia International Ltd Oy, Medtronic Plc, Micro Interventional Devices Inc., and Valcare Medical |
| Key Market Opportunities | ·        Rising Geriatric Population. |
| Key Market Dynamics | ·        Greater awareness of heart diseases and their treatment options including Annuloplasty rings. |
Frequently Asked Questions (FAQ) :
The Annuloplasty Rings Market size was valued at USD 31.98 Billion in 2022.
The global market is projected to grow at a CAGR of 3.45% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Abbott Laboratories, AFFLUENT MEDICAL, BioStable Science and Engineering Inc., Boston Scientific Corp., Braile Biomedica, Corcym Srl, CORONEO, Edwards Lifesciences Corp., Genesee BioMedical Inc., Labcor, Medtentia International Ltd Oy, Medtronic Plc, Micro Interventional Devices Inc., and Valcare Medical.
The Mitral Valve Repair category dominated the market in 2022.
The Hospitals had the largest share in the global market.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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