IMARC Group, a leading market research company, has released a report titled “Aortic Valve Replacement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global aortic valve replacement market size reached US$ 9.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.68% during 2023-2028.
Aortic valve replacement is a medical procedure used to treat ailments impacting the valves that regulate blood flow within the heart. It helps reestablish normal blood circulation, minimize symptoms, extend life, and preserve heart muscle function. It is conducted through conventional open-heart surgery that involves cutting the chest or via minimally invasive (MI) approaches, which require minor incisions in the chest or a catheter placement through the leg. At present, key players are introducing artificial valves made from carbon-coated plastic or animal tissue sourced from cows, pigs, or donors across the globe.
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Aortic Valve Replacement Market Trends and Drivers:
The global aortic valve replacement market is primarily driven by escalating demand for minimally invasive surgeries (MIS). Moreover, several favorable initiatives by governments of numerous countries to manage valvular diseases are positively influencing market growth. Additionally, the rising prevalence of valve stiffening and narrowing, especially among the senior population, has catalyzed market growth. Besides this, the availability of supportive reimbursement policies in healthcare facilities is another major growth-inducing factor. Furthermore, the rising number of approvals for innovative products is contributing to market growth. Apart from this, the increasing adoption of minimally invasive surgeries and the expanding geriatric population are propelling the market growth. Other factors, including rising incidences of valvular disorders, increasing awareness about replacement surgeries, and technological advancements, are also anticipated to drive the market further.
The report has segmented the market into the following categories:
Breakup by Surgery:
- Open Surgery
- Minimally Invasive Surgery
Breakup by Product:
- Transcatheter Aortic Valve
- Sutureless Valve
Breakup by End Use:
- Ambulatory Surgery Centers
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Abbott Laboratories
- Anteris Technologies Ltd.
- Boston Scientific Corporation
- Coroneo Inc.
- CryoLife Inc.
- Edward Lifesciences Corporation
- JenaValve Technology Inc.
- LifeNet Health Inc.
- LivaNova PLC
- Medtronic plc
- Thubrikar Aortic Valve Inc.
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