Heart Valve Market

Report Overview

The global heart valve market was pegged at US$ 7.54 billion in 2021 and is expected to witness a CAGR of 11.5% during the forecast period from 2022 to 2030.

Market Fundamentals                                                                                          

The main function of the heart valve is to maintain the pressure & flow of blood and avoid the backward flow of the blood. Any malfunctioning of these valves can cause life-threatening situations, thus, to cure such conditions prosthetic heart valve repair or replacement is performed. Growing cases of valvular heart diseases are expected to boost the heart valve market growth.

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Market Dynamics

The growth of the global heart valve market can be attributed to the rising prevalence of cardiovascular diseases, increasing funding in research & development initiatives, rising awareness of valvular heart disease, and favorable reimbursement policies. Furthermore, a strong product pipeline, increasing penetration of international market players, and rising numbers of heart valve surgeries also contribute to the market expansion. Additionally, continuous product launches and flexible service of customization of the valve further propel the market growth. However, some of the factors such as the high cost of the transcatheter aortic valve replacement (TAVR) procedure, alternative methods/techniques, and complications associated with such implants are some of the restraining factors that can obstruct the optimal growth of this market.

Market Ecosystem

The global heart valve market has been analyzed from five perspectives: valve type, procedure, application, end-user, and region. 

Heart Valve Market by Valve Type

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The global heart valve market is categorized into mechanical valve and engineered tissue valve. The engineered tissue valve dominates the market with the largest revenue share. The growth of the tissue valve segment can be attributed to its various benefits such as its resistance to degradation & calcification, and resistance to infection. Additionally, it also possesses the property of regeneration and has a low risk of thrombosis, which is further expected to provide momentum to market expansion.

Heart Valve Market by Procedures

Based on procedures, the market is segmented into transcatheter and surgical procedures. The surgical segment leads the market with the largest revenue share as it is the most trusted procedure form. The transcatheter procedure is a relatively new method and is gaining popularity among surgeons, as it uses a minimally invasive technique for implantation.

Heart Valve Market by Application

Based on application, the heart valve market is segmented into restoration and repair. The restoration segment holds the largest revenue share in the heart valve market. The restoration segment is further sub-classified into aortic, mitral, and others. The growth of the segment can be attributed to the growing cardiac valve replacement surgeries and increasing prevalence of heart valve disease (HVD). Additionally, favorable reimbursement policies and growing technological advancement also contribute to the expansion of the restoration segment, thereby boosting the overall market growth.

Heart Valve Market by End-user

Based on end-user, the global heart valve market has been segmented into hospitals, specialty clinics, and others. The hospitals segment holds the largest revenue share. The large share of the segment can be attributed to the high patient footfall in hospitals. Hospitals are the primary preference among the population due to the availability of experienced cardiac surgeons, skilled support staff, and advanced facilities, thus contributing to the growth of the segment.

Heart Valve Market by Region

The global heart valve market has been segmented based on regions North America, Europe, Asia Pacific, and the Rest of the World. North America dominates the global heart valve market with the largest revenue share. The large geriatric population, rising prevalence of heart valve diseases (HVD), and beneficial reimbursement policies drive the market in the region. Additionally, rising product approvals and initiatives by prominent players to develop technologically advanced products coupled with high research & development activities are further expected to support the market growth in North America. Europe holds the second-largest revenue share in this market owing to its developed healthcare infrastructure and large investments in research activities.

Asia Pacific, on the other hand, is the fastest-growing region in the market. The growth of the region can be attributed to the rising adoption of technological advancements, the developing healthcare infrastructure, the geriatric population, and so on. The rapidly growing medical tourism industry and favorable government policies for the same also further drive the market growth in the Asia Pacific region. 

Competitive Landscape

The prominent players operating in the global heart valve market are: 

• CryoLife Inc.
• Edwards Lifesciences Corporation
• Boston Scientific Corporation
• Micro Interventional Devices Inc.
• LivaNova Plc.
• ValveXchange Inc.
• St. Jude Medical Inc.
• Bracco Group
• JenaValve Technology Inc.
• Medtronic Plc.
• Abbott Laboratories Inc.
• Colibri Heart Valve
• Braile Biomedica

Strategic Developments

• In Oct. 2020, Medtronic announced its strategic collaboration with The Foundry to develop an enhanced and novel product for mitral valve repair technology. It is designed to address multiple mitral regurgitation etiologies and was aimed to enhance the cardiovascular product portfolio
• In July 2020, LivaNova launched Perceval Plus Aortic Heart Valve in Europe. The advancement in the Perceval Plus device includes the anti-calcification treatment, better valve durability, and enhanced design for patient outcomes.

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