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Thursday, 18 April 2024
Tuesday, 29 Aug 2023 12:00 am

Aortic Valve Replacement Devices Market is expected to reach US$ 18,070.32 million by 2030

The global aortic valve replacement devices market size is projected to grow from USD 7,113.39 million in 2022 to USD 18,070.32 million by 2030.

By The Insight Partners

Sutureless Valve Held Larger Share of Product Segment in Aortic Valve Replacement Devices Market

According to our new research study on "Aortic Valve Replacement Devices Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Product, Surgery, and End User," the market was valued at US$ 7,113.39 million in 2022 and is expected to reach US$ 18,070.32 million by 2030. It is estimated to register a CAGR of 12.4% during 2022–2030.

An aortic valve replacement involves removing and replacing a poorly working or damaged valve with a new valve made from synthetic materials or animal tissue. There has been a significant increase in the number of aortic valve replacement surgeries performed worldwide recently. This surge can be attributed to several factors, including advancements in medical technology, an aging population, and improved awareness of heart-related conditions. Aortic valve replacement is a critical procedure performed to treat aortic valve stenosis or regurgitation—conditions that can lead to serious complications if left untreated. As medical science continues to evolve, these surgeries are expected to become even safer and more accessible, contributing to better patient outcomes and improved quality of life for those affected by aortic valve diseases.

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00002871

Based on products, the aortic valve replacement devices market is segmented into mechanical valve and sutureless valve. In 2022, the sutureless valve segment accounted for a larger market share and is anticipated to register a higher CAGR during 2022–2030. sutureless aortic valve replacement device is a bioprosthetic valve designed for implementation without the need for traditional suturing, which is required to secure the valve in a position. These valves are typically made from biological materials. The valve is attached to a stent or frame that can expand and secure it in place once it is positioned correctly within the patient's native aortic valve annulus. The main advantage of sutureless aortic valves is that they can simplify the surgical procedure, reducing surgical time and potentially improving outcomes, especially in patients who are at higher risk or have limited surgical access due to other medical conditions. As with any medical procedure, the choice of aortic valve replacement device, including sutureless valves, depends on the patient's specific condition, overall health, and individual risk factors.

Region Analysis – Aortic Valve Replacement Devices Market

Geographically, the aortic valve replacement devices market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The North America aortic valve replacement devices market has been segmented into the US, Canada, and Mexico. Rising prevalence of valvular disorders, increasing geriatric population, and growing awareness regarding the benefits of transcatheter aortic valve replacement (TAVR) over other surgical procedures are key factors stimulating the aortic valve replacement devices market growth in the region. According to the Cleveland Clinic, heart valve disease affects ~2.5% of people in the US. These include valve regurgitation (leaky) or stenosis (narrowing). Mitral regurgitation and aortic stenosis are the most common valvular diseases in the US. More than 2 million people in the US suffer from a leaking heart valve. The US is at the forefront of the North America aortic valve replacement devices market. Nearly 1.5 million people suffer from aortic stenosis in the US. According to the data published by National Institutes of Health (NIH), ~78,000 transcatheter aortic valve implantation (TAVI) surgeries are performed annually in the country. The presence of key players and the increasing number of clinical studies in the region drive market growth. Initiatives undertaken by private institutions are also expected to bolster the market growth. For instance, Edwards Lifesciences Foundation is sponsoring the American Heart Association’s Valvular Disease Education Center and Ambassador Program in the US. Thus, the abovementioned factors are expected to fuel the market growth in the US.

Impact of COVID-19 Pandemic on Aortic Valve Replacement Devices Market

The COVID-19 pandemic altered economic conditions and social behaviors globally. Containment measures enacted by governments to mitigate the disease spread changed the pattern of healthcare service delivery in the US. According to the Department of Emergency Medicine, in many cities across the country, emergency department (ED) visits decreased by ~40% in 2020. Moreover, outpatient appointments and elective treatments were postponed or replaced by telemedicine practices. According to a study titled Impact of COVID-19 on Management Strategies for Coronary and Structural Heart Disease Interventions, 77 patients were scheduled for TAVR at a tertiary center in the US and 28.6% of cases were canceled because of the pandemic. In March and April 2020, 7.8% underwent urgent TAVR due to accelerating symptoms, and 2.6% of patients succumbed to death.

Abbott Laboratories, Medtronic Plc, Boston Scientific Corp, LivaNova Plc, Edwards Lifesciences Corp, Braile Biomedica Industry, Commerce and Representations Ltd , Artivion Inc, JenaValve Technology Inc., Venus MedTech HangZhou Inc., and Labcor Laboratorios Ltda.  are among the leading companies operating in the aortic valve replacement devices market.

The report segments the aortic valve replacement devices market as follows:

The aortic valve replacement devices market market is segmented based on product, surgery, and end user. By product, the aortic valve replacement devices market is segmented into sutureless valve and mechanical valve. In terms of surgery, the aortic valve replacement devices market is divided into minimally invasive surgery and open surgery. Based on end user, the aortic valve replacement devices market is segmented into hospitals & clinics, ambulatory surgical centers and others. Geographically, the aortic valve replacement devices market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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