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The continuous evolution of novel cardiac catheterization devices has transformed the landscape of medical interventions. A diverse array of catheters now exists in the market, revolutionizing therapeutic approaches across various medical domains. The advent of advanced catheterization devices, particularly in specialty cardiac procedures, has significantly altered the dynamics of the market. These specialized catheters, specifically designed for intricate cardiac procedures, have sparked a substantial surge in demand for transcatheter procedures. The current trajectory and market demand indicate that transcatheter procedures are poised to emerge as one of the foremost revenue generators by the end of the projected period.
Epidemiological studies have underscored the prevalence of severe Aortic Stenosis (AS), particularly among individuals aged 75 and above. Statistics reveal that more than one in eight people within this demographic suffer from this condition. The gold standard for treating severe AS remains Surgical Aortic Valve Replacement (SAVR). However, the emergence of Transcatheter Aortic Valve Implantation (TAVI) has presented a novel treatment avenue, particularly beneficial for patients deemed high-risk for surgery. Assessing the merits and demerits of this formidable technology enables clinicians to curate treatment plans using a comprehensive toolbox comprising both TAVR and SAVR, ensuring timely and contextually appropriate interventions for patients.
The foreseeable future anticipates a substantial upsurge in the global catheter industry, primarily attributed to the escalating incidence of cardiovascular diseases and various chronic disorders that necessitate diverse types of cardiac catheterization devices. Recent years have witnessed significant strides in critical aspects related to catheters, including enhanced quality, multifunctionality, and heightened safety features. The introduction of novel, improved catheters is expected to galvanize market growth in the imminent future.
The advent of advanced cardiac catheterization devices has revolutionized medical interventions, particularly in cardiovascular care. The market now showcases a diverse range of catheters that have redefined therapeutic approaches across multiple medical disciplines. The emergence of these sophisticated catheterization devices, specifically tailored for intricate cardiac procedures, has significantly reshaped market dynamics. Their specialized nature has sparked a surge in demand for transcatheter procedures, positioning them as a pivotal revenue source projected to dominate the market landscape.
Epidemiological research highlights the prevalence of severe Aortic Stenosis (AS), particularly among individuals aged 75 and older. Studies indicate that more than one in eight individuals within this demographic suffer from this condition. While Surgical Aortic Valve Replacement (SAVR) remains the gold standard for severe AS treatment, the introduction of Transcatheter Aortic Valve Implantation (TAVI) offers a promising alternative, especially for high-risk surgical candidates. Evaluating the benefits and limitations of this innovative technology empowers clinicians to curate treatment strategies leveraging a comprehensive toolkit that encompasses both TAVR and SAVR, ensuring timely and contextually suitable interventions for patients.
The foreseeable future anticipates a substantial expansion in the global catheter industry, largely driven by the rising incidence of cardiovascular diseases and various chronic ailments necessitating a diverse range of cardiac catheterization devices. Recent years have witnessed remarkable progress in crucial catheter-related domains, including heightened quality, multifaceted functionality, and augmented safety features. The introduction of innovative, refined catheters is poised to energize market growth in the coming years.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | · Technological advancements |
| Market Dynamics | · Rise in burden exerted by valvular heart diseases, increase in geriatric population, and shift towards sedentary lifestyle |
Heart Valves Market Highlights:
Global Heart Valves Market Overview
The Heart Valves Market Size was valued at USD 7.2 Billion in 2022 and is projected to grow from USD 8.1 Billion in 2023 to USD 20.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.20% during the forecast period (2023 - 2032). An increase in the burden of valvular heart disease, an increase in the number of elderly people, and a move toward sedentary behavior, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Heart Valves Market Trends
- Increase in number of heart valves surgery is driving the market growth
The main drivers of the cardiac valve market growth are the rising number of heart replacement and repair surgeries, particularly minimally invasive procedures. The prevalence of aortic stenosis, heart valve vegetation, and other valvular stenosis illnesses is rising, which is increasing the number of operations carried out globally. The German Heart Surgery Report estimates that 34,394 heart valve operations were completed in Germany last year. During the projected period, this is anticipated to fuel the expansion of the global market. Additionally, the market is expected to grow rapidly due to the increasing trend toward minimally invasive surgery, which includes transcatheter heart valve replacement.
The launch of new products on the market is expected to lead to an expansion of the cardiac valve market throughout the anticipated timeframe. The market for artificial heart valves has already undergone a revolution because to the development of tissue valves. With the introduction of solutions that require little to no surgery and no sutures, the industry is anticipated to significantly expand. A transcatheter aortic valve replacement (TAVR) system called Evolut PRO+, for instance, was introduced by Medtronic in the United States in September 2019. In addition to this, numerous manufacturers are doing specialized research and clinical trials for the creation of novel heart valves. As an illustration, Abbott began the TRILUMINATE pivotal study in September 2019 to assess TriClip, a transcatheter tricuspid valve repair used to treat tricuspid regurgitation. In the upcoming years, similar studies by important manufacturers are projected to increase Heart Valves Market revenue.
Increased geriatric population, shift in people's lifestyles from active to sedentary, novel developments in heart valves, increased awareness of surgical treatment options, and rising demand for minimally invasive surgeries are all factors driving the market's expansion. For instance, the American College of Cardiology estimates that every year, heart valve disease affects about 5 million Americans. However, some of the key constraints inhibiting the market's growth include the high cost of prosthetic heart valves and the availability of other solutions for treating heart valve disease. Another significant factor influencing the heart valve repair and replacement market is the ability of computational tools to mimic additional fluid mechanics properties like pressure decreases, regurgitation volumes, or turbulence. Additionally, the availability of computational tools makes it possible to accurately diagnose valvar disease, which results in appropriate treatment and grows the market for prosthetic heart valve repair and replacement. Thus, driving the market revenue of Heart Valves.
Heart Valves Market Segment Insight
Heart Valves Product Type Insights
The Market segments of Heart Valves, based on product type, includes replacement and repair. Replacement segment dominated the global market in 2022. The number of valve replacement surgeries has significantly increased, and excellent health reimbursement rates are to blame for this. The rise of the replacement segment is predicted to be aided by the rising prevalence of valve illness and technological advancements in cardiac valve replacement procedures.
Heart Valves Valve Type Insights
The Heart Valves Market segmentation, based on valve type, includes tissue valve and mechanical valve. Tissue valve segment dominated the global market in 2022. A significant share of the tissue valves market has been achieved as a result of the introduction of bioprosthetic valves with benefits like flexibility, strength, and a reduced requirement for anticoagulants. Additionally, this reduced the market's demand for mechanical valves. Additionally, thromboembolic problems linked to mechanical valves caused the tissue valve section to expand more quickly.
Heart Valves Procedure Insights
The Market segmentation of Heart Valves, based on procedure, includes surgical and transcatheter. Transcatheter segment dominated the Heart Valves Market in 2022. Transcatheter heart valve demand is rising as a result of a steady movement toward minimally invasive procedures among patients who are becoming more aware of their options.
Heart Valves End User Insights
The Heart Valves Market segmentation, based on end user, includes hospitals, specialty clinics, and others. Hospitals segment dominated the market of Heart Valves in 2022. The expansion of the hospital segment is primarily caused by an increase in hospital procedures, attractive health reimbursement, and improved government standards for the care of vulvar illnesses. Due to the rise in private practitioners and unmet patient needs, the specialty clinics & others market is predicted to grow.
Figure 1: Heart Valves Market, by End User, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Heart Valves Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Heart Valves Market dominated this market in 2022 (45.80%). This is due to an increase in medical knowledge, new product introductions, and regulatory rules that make it simple to produce and maintain heart valve devices. In addition, the rising frequency of lifestyle diseases like diabetes and obesity is a significant component in the region's domination. Further, the U.S. market of Heart Valves held the largest market share, and the Canada market of Heart Valves was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: HEART VALVES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Heart Valves market accounted for the healthy market share in 2022. The high frequency of heart valve problems, product improvements, the volume of heart valve replacement surgeries, and the well-established healthcare infrastructure are the main drivers of the market's growth. Further, the German market of Heart Valves held the largest market share, and the U.K market of Heart Valves was the fastest growing market in the European region
The Asia Pacific Heart Valves market is expected to register significant growth from 2023 to 2032. This is because aortic stenosis and other cardiac illnesses are becoming more common, healthcare infrastructure is increasing in places like China and India, and industry participants are constantly looking for opportunities to invest in new markets. For instance, aortic stenosis is thought to affect 1 in 8 geriatric Australians, according to information provided by Hope for Hearts. Additionally, it was calculated that at least 97,000 Australians over the age of 55 suffer from severe aortic stenosis (AS). Moreover, China’s market of Heart Valves held the largest market share and the Indian market of Heart Valves was the fastest growing market in the Asia-Pacific region.
Heart Valves Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the market of Heart Valves, 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, Heart Valves 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 Heart Valves industry to benefit clients and increase the market sector. In recent years, the Heart Valves industry has offered some of the most significant advantages to medicine. Major players in the Heart Valves market, including Edwards Lifesciences Corporation, Abbott, Medtronic, LivaNova PLC, Boston Scientific Corporation, CryoLife, Inc., and Micro Interventional Devices, Inc., are attempting to increase market demand by investing in research and development Product Types.
An organization that develops, produces, and markets devices for structural heart disease, critical care, and surgical monitoring is called Edwards Lifesciences Corp (Edwards Lifesciences). The company sells transcatheter heart valves, pressure monitoring equipment, hemodynamic monitoring equipment, surgical valve replacement and repair devices, as well as other tools and accessories. The management of clotting, hypotension, and sepsis, as well as transcatheter aortic valve replacement (TAVR), blood conservation, infection control, and improved surgical recovery are just a few therapies that its products are used in. The business sells its goods directly to consumers as well as through a network of independent distributors in regions like North America, Europe, and Asia-Pacific. The American city of Irvine serves as the headquarters of Edwards Lifesciences. The MITRIS RESILIA valve was approved by the US Food and Drug Administration (FDA) in March 2022 for Edwards Lifesciences. It is a tissue valve replacement made especially for the mitral location of the heart.
The mission of JenaValve Technology, a developer and producer of transcatheter aortic valve replacement (TAVR) systems, is to enhance the quality of life for people with structural heart diseases. Because of an anatomically based locator fixation and dual sealing valve design, the company's technology uses porcine pericardial tissue and a self-expanding nitinol frame with a transfemoral delivery system that does not require rapid pacing. This enables patients with ease of use, decreased risks of paravalvular regurgitation, and durability of hemodynamic results. With the Chinese company Peijia Medical Limited, JenaValve Technology, Inc. engaged into a strategic investment and exclusive technology licensing deal in January 2022. To treat patients with either severe symptomatic aortic regurgitation (AR) or severe symptomatic aortic stenosis, Peijia has made and will continue to make a cash and equity investment in JenaValve in exchange for the exclusive rights to develop and market JenaValve's cutting-edge Trilogy TAVR systems in the Greater China region.
Key Companies in the market of Heart Valves include
- Edwards Lifesciences Corporation
- Abbott
- Medtronic
- LivaNova PLC
- Boston Scientific Corporation
- CryoLife, Inc.
- Micro Interventional Devices, Inc.
Heart Valves Industry Developments
September 2019 Transcatheter aortic valve replacement (TAVR) system Evolut PRO+ has been made available in the United States, according to Medtronic.
September 2019 TriClip, a transcatheter tricuspid valve repair for the treatment of tricuspid regurgitation, was the subject of the TRILUMINATE pivotal trial that was started by Abbott.
Heart Valves Market Segmentation
Heart Valves Product Type Outlook
- Replacement
- Repair
Heart Valves Valve Type Outlook
- Tissue Valve
- Mechanical Valve
Heart Valves Procedure Outlook
- Surgical
- Transcatheter
Heart Valves End User Outlook
- Hospitals
- Specialty Clinics
- Others
Heart Valves Regional Outlook
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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