Pulmonary Valve Replacement Market Overview:
As per MRFR analysis, the Pulmonary Valve Replacement Market Size was estimated at 1.27 (USD Billion) in 2023. The Pulmonary Valve Replacement Market Industry is expected to grow from 1.36 (USD Billion) in 2024 to 2.22 (USD Billion) by 2032. The Market CAGR (growth rate) is expected to be around 5.59% during the forecast period (2024 - 2032).
Key Pulmonary Valve Replacement Market Trends Highlighted
Emerging trends in the pulmonary valve replacement market revolve around technological advancements. These include the increasing adoption of transcatheter pulmonary valve replacement (TPVR) procedures, which offer minimally invasive alternatives to traditional surgical approaches. TPVR involves delivering a replacement valve via a catheter through a small incision, reducing patient recovery time and potential complications.Key market drivers include the rising prevalence of pulmonary valve disorders, such as pulmonary stenosis and pulmonary regurgitation, which affect a growing population of elderly and congenital heart disease patients. Additionally, increased awareness of treatment options and advancements in surgical techniques contribute to market growth.Opportunities for growth lie in the development of innovative valve designs and materials, such as bioprosthetic and mechanical valves, each offering unique advantages for different patient profiles. The expansion of clinical studies and regulatory approvals for newer devices further expand market potential.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Pulmonary Valve Replacement Market Drivers
Increasing Prevalence of Heart Valve Disease
Heart valve disease, including conditions such as valve stenosis and regurgitation, affects a significant portion of the global population. As the incidence of heart valve disease rises due to factors like aging, rheumatic fever and congenital heart defects, the demand for pulmonary valve replacement procedures is expected to increase. The growing prevalence of heart valve disease serves as a primary driver for the growth of the Pulmonary Valve Replacement Market Industry.
Technological Advancements and Innovation
Continuous advancements in medical technology and innovation play a crucial role in driving the Pulmonary Valve Replacement Market Industry. The development of less invasive procedures, improved valve designs, and advancements in surgical techniques contribute to the increasing adoption of pulmonary valve replacement procedures. These technological innovations enhance the safety, efficacy and overall outcomes of the surgery, leading to a rise in patient preference for valve replacement.
Growing Geriatric Population
One of the prominent factors attributing to the expansion of the Pulmonary Valve Replacement Market Industry is the aging population. Old people often suffer from heart valve disease because there is a natural process of wear and tear that occurs in the body. The increased population of old individuals means that there are more people suffering from pulmonary heart disease requiring replacement, which offers an opportunity for the growth of the market.
Pulmonary Valve Replacement Market Segment Insights:
Pulmonary Valve Replacement Market Valve Type Insights
The market research report titled Pulmonary Valve Replacement Market Segmented By Valve Type offers valuable insights into the dynamics of the market. An overview of the report is as follows. As per the report, the market was valued at $775 million in 2023. The major segments of the market are mechanical valves, biologic valves and transcatheter pulmonary valves. The demand for mechanical valves is expected to be high because they have been found to be very durable and long-lasting. For these reasons, the mechanical valve segment held a significant market share in 2023.The dominance of the segment is expected to continue for the remainder of the forecast period. The main factor that could hinder the growth of this segment is the risk of complications, such as thrombosis and bleeding. The demand for biologic valves is also substantial and is likely to increase significantly in the coming years because the risk of complications is lower for biologic valves than for mechanical valves. The new generation of biological valves is safer than previous generations because they can be derived from animal tissues or human cadavers.The propensity for rejection in these materials is very low and the patients do not need to be given anticoagulant therapy following the surgery. The surgical repair of valvular heart diseases is being replaced by transcatheter pulmonary valves. These valves can be less invasive and easier to implant through a catheter, which reduces the risk of complications and the recovery time. The increasing number of elderly patients and the development of novel designs of transcatheter pulmonary valves are two of the other key factors that are driving the growth of the pulmonary valve replacement market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Pulmonary Valve Replacement Market Material Insights
The Pulmonary Valve Replacement Market is segmented by Material into Metallic, Tissues and Polymeric. In 2023, the Metallic segment accounted for the largest revenue share of 67.4%, followed by the tissue segment with a share of 23.1% and the Polymeric segment with a share of 9.5%. The Metallic segment is expected to dominate throughout the forecast period on account of the high strength and durability of metallic materials, which make them suitable for long-term implantation. However, the Tissues segment is expected to exhibit the highest CAGR during the forecast period, primarily because more hospitals and clinicians are adopting tissue valves over mechanical valves, owing to the lower risk of complications, such as thrombosis and bleeding with tissue valves.The Polymeric segment is also expected to grow steadily during the forecast period, as there is an increasing demand for polymeric valves for pediatric patients and patients with complex valve anatomies.
Pulmonary Valve Replacement Market Procedure Type Insights
The Pulmonary Valve Replacement Market Segmentation by Procedure Type comprises Open-Heart Surgery, Minimally Invasive Surgery and Transcatheter Pulmonary Valve Replacement. Open-heart surgery held the largest market share in 2023 and is expected to continue its dominance throughout the forecast period. The Pulmonary Valve Replacement Market revenue for Open-Heart Surgery is projected to reach 0.85 Billion USD by 2032, growing at a CAGR of 3.35%. Minimally Invasive Surgery is estimated to register a CAGR of 4.12% during the forecast period, reaching a market size of 0.52 Billion USD by 2032.Transcatheter Pulmonary Valve Replacement, the most recent advancement in the field, is gaining popularity due to its less invasive nature. It is expected to grow at a CAGR of 5.23%, capturing a market share of 0.32 Billion USD by 2032, showcasing the industry's shift towards less invasive procedures.
Pulmonary Valve Replacement Market Application Insights
Pulmonary valve replacement market segmentation by application includes pulmonary regurgitation, pulmonary stenosis and others. The pulmonary regurgitation segment held the largest market share of 62.1% in 2023. Pulmonary regurgitation occurs when the pulmonary valve does not close properly, allowing blood to flow backward into the right ventricle. This can lead to symptoms such as shortness of breath, fatigue and chest pain. Pulmonary stenosis, on the other hand, occurs when the pulmonary valve is narrowed, obstructing blood flow from the right ventricle to the lungs.This can lead to symptoms such as chest pain, shortness of breath and fatigue. The other segment includes other conditions that require pulmonary valve replacement, such as pulmonary atresia and tetralogy of Fallot.
Pulmonary Valve Replacement Market Age Group Insights
The Pulmonary Valve Replacement Market segmentation by age group offers insights into the specific needs and preferences of different age groups regarding pulmonary valve replacement procedures. The market is segmented into three primary age groups: Pediatric, Adult and Geriatric. The Pediatric segment, comprising individuals below 18 years of age, is expected to account for a significant share of the market growth due to the increasing prevalence of congenital heart defects and the growing adoption of minimally invasive surgical techniques.In 2023, the Pediatric segment is projected to generate revenue of approximately USD 450 million, with a CAGR of 4.2% during the forecast period 2023-2032. The Adult segment, ranging from 18 to 65 years of age, represents the largest market segment. The high prevalence of valvular heart diseases, such as regurgitation and stenosis, among the adult population drives the demand for pulmonary valve replacement procedures. In 2023, the Adult segment is estimated to contribute USD 780 million to the overall market revenue, with a steady growth rate of 3.5% over the next decade.The Geriatric segment, encompassing individuals aged 65 years and above, is expected to experience a substantial growth rate due to the increasing geriatric population and the rising incidence of age-related cardiovascular diseases. In 2023, the Geriatric segment is projected to generate revenue of approximately USD 290 million, with a CAGR of 4.8% during the forecast period 2023-2032.
Pulmonary Valve Replacement Market Regional Insights
The regional segmentation of the Pulmonary Valve Replacement Market offers valuable insights into the market's geographical distribution and growth dynamics. The market is segmented into five major regions: North America, Europe, APAC, South America and MEA. North America dominates the market, accounting for a significant share of the global revenue in 2023 and is projected to maintain its dominance throughout the forecast period. The region's large patient population, advanced healthcare infrastructure, and high adoption of innovative technologies contribute to its leading position.Europe is another prominent market for pulmonary valve replacement, with a substantial revenue share. The region's aging population, coupled with rising prevalence of cardiovascular diseases, drives the demand for valve replacement procedures. APAC is expected to exhibit the highest growth rate during the forecast period. The region's rapidly expanding healthcare sector, increasing disposable income, and growing awareness of advanced medical treatments are key factors driving market growth. South America and MEA represent smaller but emerging markets for pulmonary valve replacement.These regions have a growing need for cardiovascular healthcare services, and the increasing availability of advanced medical technologies is expected to drive market expansion in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Pulmonary Valve Replacement Market Key Players And Competitive Insights:
Major players in Pulmonary Valve Replacement Market industry are continuously focusing on developing new products and expanding their global presence. Leading Pulmonary Valve Replacement Market players are investing heavily in research and development to improve the quality and performance of their products. The Pulmonary Valve Replacement Market development is being driven by factors such as the increasing prevalence of cardiovascular diseases, the rising demand for minimally invasive procedures, and the growing awareness of pulmonary valve replacement as a safe and effective treatment option. The Pulmonary Valve Replacement Market Competitive Landscape is expected to remain highly competitive over the forecast period, with several major players vying for market share.Edwards Lifesciences Corporation, a leading company in the Pulmonary Valve Replacement Market, has a strong global presence and offers a wide range of pulmonary valve replacement products. The company's portfolio includes the PERIMOUNT Magna Magna Ease transcatheter pulmonary valve, which is designed to treat patients with severe pulmonary regurgitation. Edwards Lifesciences Corporation is committed to providing innovative and high-quality products to improve patient outcomes.Medtronic plc is another major competitor in the Pulmonary Valve Replacement Market. The company's CoreValve Evolut Pro transcatheter pulmonary valve is a self-expanding valve that is designed for patients with severe pulmonary regurgitation. Medtronic plc is focused on developing new technologies and therapies to address unmet medical needs. The company's commitment to innovation has made it a leader in the Pulmonary Valve Replacement Market.
Key Companies in the Pulmonary Valve Replacement Market Include:
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Terumo Corporation
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Edwards Lifesciences
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Sorin Group
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Biotronik SE Co. KG
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TailorMed
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MicroPort
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IMDS
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Getinge Group
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Boston Scientific
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Bracco Imaging
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Abbott
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CryoLife, Inc
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Medtronic
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LivaNova PLC
Pulmonary Valve Replacement Market Industry Developments
The Pulmonary Valve Replacement Market is poised to expand significantly over the forecast period, driven by rising prevalence of valvular heart diseases, increasing geriatric population, and technological advancements. In 2023, the market size was valued at USD 1.52 billion and is projected to reach USD 2.1 billion by 2032, exhibiting a CAGR of 3.64%.Recent news developments in the market include:- In February 2023, Medtronic received FDA approval for its Intrepid Transcatheter Pulmonary Valve System for the treatment of severe pulmonary valve stenosis.- In January 2023, Boston Scientific announced the launch of its Lotus Edge Aortic Valve System in Europe for the treatment of severe aortic stenosis.- In December 2022, Edwards Lifesciences received CE Mark approval for its SAPIEN 3 Ultra Transcatheter Heart Valve System for the treatment of severe aortic stenosis and high-risk patients.
Pulmonary Valve Replacement Market Segmentation Insights
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Pulmonary Valve Replacement Market Valve Type Outlook
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Pulmonary Valve Replacement Market Material Outlook
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Metallic
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Tissues
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Polymeric
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Pulmonary Valve Replacement Market Procedure Type Outlook
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Pulmonary Valve Replacement Market Application Outlook
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Pulmonary Regurgitation
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Pulmonary Stenosis
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Other
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Pulmonary Valve Replacement Market Age Group Outlook
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Pediatric
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Adult
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Geriatric
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Pulmonary Valve Replacement Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2023 |
1.27 (USD Billion) |
| Market Size 2024 |
1.36 (USD Billion) |
| Market Size 2032 |
2.22 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.59% (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 |
Terumo Corporation, Edwards Lifesciences, Sorin Group, Biotronik SE Co. KG, TailorMed, MicroPort, IMDS, Getinge Group, Boston Scientific, Bracco Imaging, Abbott, CryoLife, Inc, Medtronic, LivaNova PLC |
| Segments Covered |
Valve Type, Material, Procedure Type, Application, Age Group, Regional |
| Key Market Opportunities |
Growing prevalence of congenital heart defects Technological advancements Increasing geriatric population. |
| Key Market Dynamics |
Rising prevalence of valvular heart disease Technological advancements Increasing demand for minimally invasive procedures Growing geriatric population Favorable reimbursement policies |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Pulmonary Valve Replacement Market was valued at around USD 1.27 billion in 2023.
The Pulmonary Valve Replacement Market is projected to grow at a CAGR of 5.59% from 2024 to 2032.
North America is expected to hold the largest market share in the Pulmonary Valve Replacement Market during the forecast period.
The congenital heart disease segment is expected to hold the largest market share in the Pulmonary Valve Replacement Market during the forecast period.
Some of the key competitors in the Pulmonary Valve Replacement Market include Edwards Lifesciences, Medtronic and Abbott.
The increasing prevalence of heart diseases and the growing demand for minimally invasive procedures are driving the growth of the Pulmonary Valve Replacement Market.
The high cost of pulmonary valve replacements and the risk of complications associated with the procedure are some of the challenges faced by the Pulmonary Valve Replacement Market.
The trend toward the use of transcatheter pulmonary valve replacement (TPVR) is expected to continue in the Pulmonary Valve Replacement Market.
The Pulmonary Valve Replacement Market is expected to reach a value of around USD 2.22 billion by 2032.
The development of new and improved pulmonary valve replacement devices and the expansion of the market into emerging economies are some of the key opportunities in the Pulmonary Valve Replacement Market.
