Annuloplasty System Market Overview
As per MRFR analysis, the Annuloplasty System Market Size was estimated at 1.69 (USD Billion) in 2022. The Annuloplasty System Market is expected to grow from 1.81 (USD Billion) in 2023 to 3.2 (USD Billion) by 2032. The Annuloplasty System Market CAGR (growth rate) is expected to be around 6.57% during the forecast period (2024 - 2032).
Key Annuloplasty System Market Trends Highlighted
The increasing prevalence of heart failure and the growing number of elderly patients are key drivers of the annuloplasty system market. Additionally, the rising awareness of minimally invasive surgical techniques, the need for effective heart valve repair procedures, and the advancements in medical technology are contributing to market growth.
Upregulating trends in the market include the use of 3D printing technology in creating personalized annuloplasty rings, the integration of artificial intelligence and machine learning in surgical planning and navigation, and the discovery of innovative materials, such as bioabsorbable polymers, for improved device performance.
Exploring opportunities for developing annuloplasty systems with reduced invasiveness, enhanced durability, and improved long-term outcomes remains crucial for market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Annuloplasty System Market Drivers
Rising Prevalence of Valvular Heart Diseases
The increasing prevalence of valvular heart diseases, such as mitral regurgitation and tricuspid regurgitation, is a primary driver of the annuloplasty system market. These conditions are characterized by the improper functioning of heart valves, leading to blood leakage and reduced heart efficiency.
The growing incidence of valvular heart diseases is attributed to factors such as aging population, increasing prevalence of cardiovascular risk factors (e.g., hypertension, obesity, diabetes), and rheumatic fever.
As the number of patients with valvular heart diseases rises, the demand for annuloplasty systems for valve repair or replacement procedures is expected to increase, driving market growth.
Technological Advancements in Annuloplasty Systems
Ongoing technological advancements in annuloplasty systems are another key driver of market growth. Manufacturers are continuously innovating to develop more efficient, less invasive, and durable devices. These advancements include the introduction of minimally invasive annuloplasty systems, which offer reduced surgical trauma, shorter recovery times, and improved patient outcomes.
Furthermore, the development of annuloplasty systems with improved materials and designs has enhanced their performance and longevity, contributing to the overall growth of the Annuloplasty System Market.
Growing Adoption of Transcatheter Annuloplasty Procedures
The growing adoption of transcatheter annuloplasty procedures is a significant driver of the annuloplasty system market. Transcatheter annuloplasty is a less invasive alternative to traditional surgical annuloplasty, offering benefits such as reduced procedural risks, shorter hospital stays, and faster patient recovery.
The increasing availability of transcatheter annuloplasty devices, coupled with the rising number of skilled interventional cardiologists, is contributing to the wider adoption of these procedures.
This trend is anticipated to drive the growth of the Annuloplasty System Market in the coming years.
Annuloplasty System Market Segment Insights:
Annuloplasty System Market Device Type Insights
The Annuloplasty System Market is segmented by device type into annular rings and bands, and suture annuloplasty devices. Annular rings and bands held a significant market share in 2023. These devices are designed to provide structural support to the mitral or tricuspid annulus, thereby preventing or correcting valve regurgitation.
Annular rings and bands are typically made of durable materials such as titanium or polyester and are implanted through a surgical procedure. Suture annuloplasty devices, on the other hand, are used to tighten and reinforce the native annulus.
These devices are typically made of non-absorbable sutures and are implanted through a less invasive procedure compared to annular rings and bands. The choice of device type depends on factors such as the severity of valve regurgitation, the patient's overall health, and the surgeon's preference.
The Annuloplasty System Market is expected to witness steady growth in the coming years, driven by factors such as the rising prevalence of valvular heart diseases, increasing geriatric population, and technological advancements in annuloplasty devices.
The market growth is also supported by the growing adoption of minimally invasive surgical techniques for annuloplasty procedures.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Annuloplasty System Market Material Insights
The Annuloplasty System Market segmentation by Material comprises Polypropylene Mesh, Polyester Mesh, Porcine Pericardium, Glutaraldehyde-treated Bovine Pericardium, and Others.
Among these, Polyester Mesh held the largest share of the market in 2023, owing to its superior strength, durability, and resistance to infection. Porcine Pericardium is anticipated to grow at the highest CAGR during the forecast period due to its biocompatibility and low risk of rejection.
The Annuloplasty System Market revenue from the Material segment is projected to reach USD 1.2 billion by 2032, exhibiting a CAGR of 6.7% from 2024 to 2032.
Annuloplasty System Market Procedure Type Insights
The Annuloplasty System Market segmentation by Procedure Type includes Open Heart Surgery, Minimally Invasive Annuloplasty, and Robotic Assisted Annuloplasty. Open Heart Surgery is a traditional method and holds the largest market share.
Minimally Invasive Annuloplasty is gaining popularity due to its lesser invasiveness and faster recovery time and is expected to witness a significant growth rate in the coming years. Robotic Assisted Annuloplasty is the most advanced technique, offering greater precision and control, and is expected to contribute to the growth of the overall market.
In 2023, the Annuloplasty System Market revenue from Open Heart Surgery was valued at around 1.2 billion USD and is projected to reach approximately 1.9 billion USD by 2032, exhibiting a CAGR of around 6.3%.
Minimally Invasive Annuloplasty is estimated to reach around 520 million USD by 2032, growing at a CAGR of about 7.2%. Robotic Assisted Annuloplasty is expected to witness the fastest growth, with a CAGR of approximately 8.1%, reaching a market value of around 340 million USD by 2032.
Annuloplasty System Market Valve Type Insights
The Annuloplasty System Market is segmented based on Valve Type into Mitral Valves, Tricuspid Valves, Aortic Valves, and Pulmonary Valves. Among these, the Mitral Valves segment held the largest market share in 2023 and is expected to continue its dominance throughout the forecast period.
The high prevalence of mitral valve regurgitation, coupled with the increasing adoption of minimally invasive surgical techniques, is driving the growth of this segment. The Tricuspid Valves segment is also expected to witness significant growth over the coming years due to the rising incidence of tricuspid valve regurgitation and the increasing number of elderly patients.
The Aortic Valves and Pulmonary Valves segments are expected to grow at a moderate pace, driven by the growing demand for valve replacement surgeries and the technological advancements in these procedures.
Annuloplasty System Market End User Insights
The End User segment of the Annuloplasty System Market is primarily composed of hospitals, ambulatory surgical centers, and cardiac care centers. Among these, hospitals are projected to dominate the market, accounting for a revenue share of over 70% in 2024, owing to the increasing number of cardiac surgeries performed in hospital settings.
Ambulatory surgical centers are also expected to witness significant growth, as they offer cost-effective and convenient surgical procedures for patients. Cardiac care centers are expected to hold a significant market share, driven by the rising prevalence of cardiovascular diseases and the need for specialized treatment facilities.
The growing demand for minimally invasive surgical procedures and the increasing adoption of advanced technologies are also contributing to the growth of the Annuloplasty System Market in these end-user segments.
Annuloplasty System Market Regional Insights
The Annuloplasty System Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America held the largest market share in 2023 due to factors such as the presence of a large number of hospitals, rising incidence of heart valve diseases, and favorable reimbursement policies.
Europe is expected to witness significant growth in the coming years owing to the increasing adoption of minimally invasive surgical procedures and rising awareness about the benefits of annuloplasty systems. APAC is projected to be the fastest-growing regional market, driven by the increasing prevalence of cardiovascular diseases and improving healthcare infrastructure in countries such as China and India.
South America and MEA are expected to experience moderate growth due to limited access to healthcare facilities and lower awareness about annuloplasty systems.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Annuloplasty System Market Key Players and Competitive Insights:
Major players in the Annuloplasty System Market are constantly striving to gain a competitive edge in the market. Leading Annuloplasty System Market players are focusing on developing innovative technologies, expanding their product portfolios, and establishing strategic partnerships to strengthen their market position.
The Annuloplasty System Market is characterized by intense competition, with key players vying for market share through product differentiation, pricing strategies, and marketing campaigns. The competitive landscape is expected to remain dynamic, with new entrants and innovative products shaping the market in the coming years.
Medtronic, a leading company in the Annuloplasty System Market, has a strong presence and offers a wide range of annuloplasty systems. The company focuses on developing innovative solutions to address unmet clinical needs and improve patient outcomes.
Medtronic has a dedicated research and development team that is constantly working on developing new technologies and products to stay ahead of the competition. The company has a strong distribution network and a large sales force that enables it to reach a wide customer base.
Edwards Lifesciences, a competitor company in the Annuloplasty System Market, is known for its innovative heart valve technologies. The company has a strong focus on research and development and invests heavily in developing new products and technologies.
Edwards Lifesciences has a broad product portfolio that includes annuloplasty systems for a variety of patient needs. The company has a presence and a strong distribution network that enables it to reach a wide customer base.
Key Companies in the Annuloplasty System Market Include:
- BioVentrix
- LivaNova PLC
- BD
- Evalve, Inc
- Vascutek (a Terumo subsidiary)
- Medicor Cardiology
- CryoLife, Inc
- Abbott
- JenaValve Technology
- Meril Life Sciences
- Boston Scientific
- Edwards Lifesciences
- CryoLife
- Medtronic
- Cardiaque
Annuloplasty System Market Developments
The annuloplasty system market is anticipated to grow significantly over the forecast period, driven by factors such as the rising prevalence of heart valve diseases, increasing adoption of minimally invasive surgical procedures, and technological advancements in annuloplasty systems.
Recent news developments in the market include the acquisition of Valtech Cardio by Abbott, the launch of the Perceval Sutureless Annuloplasty System by Edwards Lifesciences, and the development of novel annuloplasty devices by companies such as Medtronic and Boston Scientific.
These developments indicate the growing focus on innovation and the expansion of the product portfolio in the annuloplasty system market.
Annuloplasty System Market Segmentation Insights
- Annuloplasty System Market Device Type Outlook
- Annular Rings and Bands
- Suture Annuloplasty Devices
- Annuloplasty System Market Material Outlook
- Polypropylene Mesh
- Polyester Mesh
- Porcine Pericardium
- Glutaraldehyde-treated Bovine Pericardium
- Others
- Annuloplasty System Market Procedure Type Outlook
- Open Heart Surgery
- Minimally Invasive Annuloplasty
- Robotic Assisted Annuloplasty
- Annuloplasty System Market Valve Type Outlook
- Mitral Valves
- Tricuspid Valves
- Aortic Valves
- Pulmonary Valves
- Annuloplasty System Market End User Outlook
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Care Centers
- Annuloplasty System Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.69(USD Billion) |
| Market Size 2023 |
1.81(USD Billion) |
| Market Size 2032 |
3.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
6.57% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
BioVentrix, LivaNova PLC, BD, Evalve, Inc, Vascutek (a Terumo subsidiary), Medicor Cardiology, CryoLife, Inc, Abbott, JenaValve Technology, Meril Life Sciences, Boston Scientific, Edwards Lifesciences, CryoLife, Medtronic, Cardiaque |
| Segments Covered |
Device Type, Material, Procedure Type, Valve Type, End User, Regional |
| Key Market Opportunities |
Increasing prevalence of valvular heart diseases, technological advancements, rising disposable income in developing regions, growing geriatric population, and favorable reimbursement policies. |
| Key Market Dynamics |
Increasing prevalence of heart valve diseases Technological advancements Rising demand for minimally invasive procedures Growing geriatric population Expanding healthcare infrastructure |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Annuloplasty System Market reached a valuation of 1.81 billion USD in 2023.
The Annuloplasty System Market is projected to grow at a CAGR of 6.57% from 2024 to 2032.
North America held the largest market share in the Annuloplasty System Market in 2023.
Mitral valve repair held the largest revenue share in the Annuloplasty System Market in 2023.
Key competitors in the Annuloplasty System Market include Abbott, Edwards Lifesciences, Medtronic, and Boston Scientific.
Major factors driving the growth of the Annuloplasty System Market include the rising prevalence of heart valve diseases, increasing demand for minimally invasive procedures, and technological advancements.
Key trends impacting the Annuloplasty System Market include the adoption of 3D printing technology, the development of self-expanding annuloplasty rings, and the growing popularity of robotic-assisted surgery.
Challenges faced by the Annuloplasty System Market include reimbursement issues, stringent regulatory approvals, and competition from alternative treatment options.
The Annuloplasty System Market is expected to reach a valuation of 3.2 Billion USD by 2032.
Growth opportunities for the Annuloplasty System Market include the expansion into emerging markets, the development of new applications, and the integration of advanced technologies.
