Global Heart Valve Repair and Replacement Market, By Product (Surgical Heart Valves Replacement, Surgical Heart Valves Repair, TAVI/TAVR Valves, Grafts, Patches, Medication, and Others), Procedure (Surgical Procedure and Non-Surgical Procedure), Indication (Valvular Stenosis, Valvular Insufficiency, Mitral Valve Prolapse and Others), End User (Hospital, Specialty Centers, Cardiac Catheterization Lab, Ambulatory Surgical Centers, and Others), Distribution Channel (Direct Tender, Retail Sales, and Others) - Industry Trends and Forecast to 2031.
Heart Valve Repair and Replacement Market Analysis and Size
The rise in demand for minimally invasive surgeries and increasing health expenditures have accelerated the need for the heart valve repair and replacement market. The increasing geriatric population and favorable reimbursement policies are also propelling the growth of the heart valve repair and replacement market.
The heart valve repair and replacement market is growing in the forecast year for several reasons, including the rising players in the market and the availability of advanced products. Along with this, manufacturers are engaged in R&D activity to launch novel products on the market.
Data Bridge Market Research analyzes that the global heart valve repair and replacement market is expected to reach USD 11,585.65 million by 2031 from USD 4,970.53 million in 2023, growing at a healthy CAGR of 11.3% in the forecast period of 2024 to 2031.
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Product (Surgical Heart Valves Replacement, Surgical Heart Valves Repair, TAVI/TAVR Valves, Grafts, Patches, Medication, and Others), Procedure (Surgical Procedure and Non-Surgical Procedure), Indication (Valvular Stenosis, Valvular Insufficiency, Mitral Valve Prolapse and Others), End User (Hospital, Specialty Centers, Cardiac Catheterization Lab, Ambulatory Surgical Centers, and Others), Distribution Channel (Direct Tender, Retail Sales, and Others)
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Regions Covered
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U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Turkey, Belgium, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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MVRx, Inc., MeKo Laser Material Processing, Comed B.V., CardiaMed, Xeltis, Foldax, Inc., JenaValve Technology, Inc., Colibri Heart Valve, HLT, Inc., NeoChord, Inc., Meril Life Sciences Pvt. Ltd., Micro Interventional Devices, Inc., Biotronik, Medtronic, Abbott, Neovasc Inc., and Edwards Lifesciences Corporation among others
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Market Definition
Blood is pumped through the heart in one direction. Heart valves in this one-way blood flow, opening and closing with each heartbeat. The pressure changes on either side of the valves cause them to open their flap-type “doors” (called cups or leaflets) at just the right time, then close compactly to avert a backflow of blood. Doctors treat valves with medicines if they are not severe; otherwise, they are treated with surgeries to repair or replace the valve.
Valve repair can primarily be done on congenital valve defects. The company has a good success record with treating mitral valve defects. In contrast, severe valve damage implies the valve must be replaced and most often entails the aortic or mitral valve. It is also helpful in treating any life-threatening valve disease. Some patients may need more than one valve repaired or can be replaced.
Global Heart Valve Repair and Replacement Market Dynamics
Drivers
- Rise in Incidence of Valvular Heart Defects
Heart valve disease can develop quickly or over a long period. The symptoms may not show up until the condition is quite advanced, including shortness of breath, chest pain, fatigue, dizziness or fainting, fever, rapid weight gain, and irregular heartbeat when valve disease develops more steadily. Valvular heart disease, caused by damage or disease in heart valves, can result from congenital infections or degenerative or rheumatic conditions. Symptoms include shortness of breath, chest pain, fatigue, dizziness, fever, rapid weight gain, and irregular heartbeat. This valvular disease makes the patient prone to various health disorders, which may lead to death. Thus, the rise in the incidence of valvular heart defects is driving the market growth.
- Increase in the Geriatric Population
This demographic shift is further accentuated by the rising life expectancy globally. There is a corresponding increase in the incidence of age-related cardiovascular issues, creating a sustained demand for heart valve interventions as healthcare advancements contribute to increased longevity. Moreover, the desire for an active lifestyle among the elderly, coupled with advances in medical technologies, has made them more receptive to surgical interventions, including heart valve repair and replacement, to enhance their quality of life. The market response to this demographic trend is evident in the continuous development of innovative and minimally invasive techniques for heart valve procedures. These advancements aim to cater to the aging population by providing effective and less invasive treatment options. Thus, the growing geriatric population demonstrates the escalation in demand for heart valve repair and replacement surgeries.
Opportunity
- Rise in the Obese Population Globally
Obesity is a complex disease that involves excess body fat. It is a medical condition that raises the risk of certain illnesses and health problems, such as heart disease, diabetes, high blood pressure, and certain cancers. The link between obesity and heart valve diseases is well-established. Excess body weight strains the cardiovascular system, leading to conditions that affect the heart valves. As a result, the growing number of individuals classified as obese or overweight contributes to the expanding patient pool requiring heart valve interventions. This trend underscores the need for advanced medical solutions and procedures, which in turn provide an opportunity for the market growth.
Restraints/Challenges
- Complications Associated with Heart Valve Replacement
Structural issues with prosthetic valves, such as valve degeneration or malfunction, can emerge over time, necessitating further interventions or even repeat surgeries. These complications compromise patient health and contribute to the complexity and cost of managing heart valve replacement cases. Moreover, patient-specific factors, including age and underlying health conditions, can influence the occurrence and severity of these complications, adding a layer of complexity to post-operative care. Complications associated with heart valve replacement may induce anxiety and stress, affecting the overall quality of life for individuals who have undergone these procedures. The complications linked to heart valve replacement procedures, encompassing infection risks, thrombosis, structural issues with prosthetic valves, and psychological implications, can collectively impact the patients' decision to choose heart valve replacements. Therefore, complications associated with heart valve replacement are restraining the market growth.
- Stringent Rules and Regulations for Government Approval in the Healthcare Sector
Accurate guidance is important in healthcare procedures as any deviation may compromise patient safety and pose potential risks to their well-being. It is also mandatory for every new device to undergo a regulatory approval review to satisfy the criteria of Class III medical devices. Many of the products find it difficult to be approved due to not complying with the regulations, as this method of clearance of medical devices is very rigorous and time-consuming. Therefore, the stringent rules and regulations for government approval in the healthcare sector is expected to challenge the market growth.
Recent Developments
- In December 2023, Meril Life Sciences Pvt. Ltd. is excited to participate in COSECSA 2023, a prestigious event bringing together expertise in Cardiology, Diagnostics, Endo Surgery, and Orthopaedics
- In November 2023, Medtronic plc received FDA approval for the Symplicity Spyral renal denervation (RDN) system, allowing immediate commencement of commercialization. The approval marks a significant step for Medtronic in providing an advanced treatment option for hypertension using the Symplicity blood pressure procedure, reinforcing the company's commitment to healthcare technology innovation
- In October 2023, Edwards Lifesciences Corporation reported one-year results from CLASP IID, a groundbreaking randomized controlled trial comparing two contemporary mitral Transcatheter Edge-to-Edge Repair (TEER) therapies, alongside one-year results from the CLASP IID registry. The findings, presented at the 35th Transcatheter Cardiovascular Therapeutics (TCT) symposium and published in JACC: Cardiovascular Interventions, confirm the clinical and quality-of-life benefits of Mitral Regurgitation (MR) reduction with the PASCAL system. This marks a significant advancement in treating Degenerative Mitral Regurgitation (DMR) in a diverse patient population
- In April 2021, Abbott announced that it had received a CE mark for TriClip Tran’s catheter tricuspid valve repair system in Europe to treat tricuspid regurgitation. This will help the company in diversifying its business
Global Heart Valve Repair and Replacement Market Scope
The global heart valve repair and replacement market is segmented into five notable segments which are based the product, procedure, indication, end user, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Surgical Heart Valves Replacement
- Surgical Heart Valves Repair
- TAVI/TAVR Valves
- Grafts
- Patches
- Medication
- Others
On the basis of product, the market is segmented into surgical heart valves replacement, surgical heart valves repair, TAVI/TAVR valves, grafts, patches, medication, and others.
Procedure
- Surgical Procedure
- Non-Surgical Procedure
On the basis of procedure, the market is segmented into surgical procedure and non-surgical procedure.
Indication
- Valvular Stenosis
- Valvular Insufficiency
- Mitral Valve Prolapse
- Others
On the basis of indication, the market is segmented into valvular stenosis, valvular insufficiency, mitral valve prolapse and others.
End User
- Hospital
- Specialty Centers
- Cardiac Catheterization Lab
- Ambulatory Surgical Centers
- Others
On the basis of end user, the market is segmented into hospital, specialty centers, cardiac catheterization lab, ambulatory surgical centers, and others.
Distribution Channel
- Direct Tender
- Retail Sales
- Others
On the basis of distribution channel, the market is segmented into direct tender, retail sales, and others.
Global Heart Valve Repair and Replacement Market Regional Analysis/Insights
The global heart valve repair and replacement market is analyzed, and market size insights and trends are provided by country, product, procedure, indication, end user, and distribution channel as referenced above.
The countries covered in the global heart valve repair and replacement market report are U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Turkey, Belgium, rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, rest of Asia-Pacific, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
North America is expected to dominate the heart valve repair and replacement market due to strong presence of market players in the region and its cost saving nature of products. U.S is expected to dominate the North America region due to factors such as advanced healthcare infrastructure, and a strong focus on medical innovation and technology. U.K is expected to dominate the Europe region due to factors such as advanced healthcare infrastructure, a growing aging population, and increased awareness about cardiovascular health. China is expected to dominate the Asia-Pacific region due to factors such as a high prevalence of cardiovascular diseases, and advancements in medical infrastructure in the country.
The country section of the report also provides individual market-impacting factors and changes in market regulation that affect the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
Competitive Landscape and Global Heart Valve Repair and Replacement Market Share Analysis
The global heart valve repair and replacement market competitive landscape provide details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global heart valve repair and replacement market.
Some of the major players operating in the global heart valve repair and replacement market are MVRx, Inc., MeKo Laser Material Processing, Comed B.V., CardiaMed, Xeltis, Foldax, Inc., JenaValve Technology, Inc., Colibri Heart Valve, HLT, Inc., NeoChord, Inc., Meril Life Sciences Pvt. Ltd., Micro Interventional Devices, Inc., Biotronik, Medtronic, Abbott, Neovasc Inc., and Edwards Lifesciences Corporation among others.
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