According to the latest report by IMARC Group “Aortic Valve Replacement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global aortic valve replacement market size reached US$ 8.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 15.8 Billion by 2027, exhibiting a growth rate (CAGR) of 11.59% during 2022-2027.
Aortic valve replacement refers to the procedure of replacing a non-functioning valve with an artificial heart valve. Aortic valves are one of the four valves that control the flow of blood through the heart. It separates the left ventricle and the main artery, which supplies oxygen-rich blood to the aorta. Improper functioning of the aortic valve interferes with the blood flow and forces the heart to work harder. Aortic valve replacement restores normal blood flow, reduces the symptoms, prolongs life, and preserves the proper function of the heart muscle. The replacement process is performed with prosthetic and artificial valves made from synthetic materials or animal tissues such as pig, cow, and human donors.
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The global aortic valve replacement market is primarily driven by increasing valvular diseases such as aortic stenosis and aortic regurgitation. The rising geriatric population has also increased the demand for aortic valve replacement methods as valves become narrow and stiff from aging. Besides this, governments ofdifferent countries are undertaking initiatives to create awareness about valve replacement surgeries and providing high reimbursement rates to patients. For instance, the European Association of Percutaneous Cardiovascular Interventions has launched The Valve for Life Initiative to improve access to aortic valve replacement across Europe. Furthermore, technological advancements in replacement surgeries and minimally invasive (MI) techniques are significantly fueling the market growth.
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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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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