The global Prosthetic Heart Valve market was valued at USD 10.68 Billion in 2023 and growing at a CAGR of 11.81% from 2024 to 2033. The market is expected to reach USD 32.60 Billion by 2033. Growth in the incidence of structural heart valve diseases, preference for minimally invasive procedures, a growing number of product approvals and an increase in the geriatric population are some factors driving the prosthetic heart valve market. Also, advancements in technology related to heart valve replacement products are anticipated to offer many new opportunities.
Prosthetic heart valves are used for patients who are suffering from heart valvular disease and require the replacement of the valves. Prosthetic heart valves consist of mechanical heart valves and tissue or biological heart valves. The former is made of non-physiological materials with movable occludes made of rigid materials. Tissue heart valves form by combining tissue and synthetic biomaterials where tissue is flexible. The surge in the prevalence of valvular heart disease is fueling the market's growth. Several other factors can influence the market, such as technological advancement integration, regulatory approval of heart valves, and a surge in the number of heart valves. Replacement of heart valves is a treatment process that requires the replacement of damaged or diseased valves with prosthetic heart valves. The selection of prosthesis is based on the type of valve which is to be treated by the patient suffering from valvular heart disease. Mechanical valves are largely used among younger patients having damaged valves. For older patients, the tissue heart valves are generally preferred. A transcatheter heart valve is a new technology that has recently been launched, and it is a minimally invasive procedure; hence, this is slowly becoming the most preferred valve replacement among others. It is estimated that in 2017, over 7% of the population aged more than 65 years were suffering from degenerative aortic stenosis. More than 276,000 patients have undergone Transcatheter heart valve procedures since its approval in 2011 in the US. In 2019, it is estimated that around 56% of the males have gone through Transcatheter Aortic Valve Replacement in the US. Also, based on one of the studies, severe aortic stenosis, which happens due to a diseased aortic valve (stenotic), affects over 500,000 patients in Western Europe in a year. Similarly, in Japan, around 2.5% of any type of valve disease is prevalent, and 0.4% of the cases were from aortic valve stenosis. The senior population was mostly affected, with a prevalence of 4.5% for people aged 75 years and 8.1% for 85 years of age people. These factors are eventually driving the prosthetic heart valve market.
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The surge in cardiovascular disease cases– The transcatheter aortic valve replacement is largely driven by the growing incidence of cardiovascular diseases and the surge in the geriatric population. There is an increase in the adoption of advanced surgical procedures, and hence, there is a growth in the investments and funding in the healthcare sector by both individuals and the government. The financial assistance facility for patients needing transcatheter aortic valve replacement also helps decrease the cost burden. Moreover, over 100 million people globally are suffering from valvular heart disease, which affects either one or more of the four valves of the heart and leads to breathlessness, dizziness, chest pain and fainting. If severe valvular disease is not managed properly, the chance of surviving reduces, particularly in elderly people. The most effective and the only effective therapy is heart valve replacement. All these factors are eventually driving the Prosthetic Heart Valve market.
High Cost– The high cost of prosthetic heart valves is acting as a hindrance to the growth of the market. Many alternatives are available for treating heart valve disease, limiting the market growth. Also, some of the procedure, like transcatheter aortic valve replacement, is associated with risks like excessive bleeding, higher chances of stroke, complications with blood vessels, infection, kidney diseases, etc. All these factors are acting as restraints for the market.
Growing elderly population– Based on one of the studies in 2022, it has been observed that the population of people aged 65 years and above is growing faster than the population of people of less age than that. This indicates that the percentage of people aged 65 and older is increasing from 10% in 2022 to around 16% in 2050. It is also estimated that by 2050, the number of people aged 65 and more globally will be twice compared to the number of children aged less than 5 and almost the same as that of children aged less than 12 years. A person aged 65 from 2015 to 2020 was expected to live an additional 17 years on average. By 2045 and 2050, the expected increase will reach 19 years. This trend will be seen in all the countries. All these factors eventually propel the Prosthetic Heart Valve market in the forecasting period.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global Prosthetic Heart Valve market, with a 40.43% share of the market revenue in 2023. This significant market share is due to the region's high preference for prosthetic heart valve treatment. Heart disease is the leading cause of death in the US, which affects around 600,000 people every year. Based on one of the studies, over 85 million Americans have some type of cardiovascular disease or stroke, and by 2030, over 40% of the US population will have some type of cardiovascular disease. Along with a growth in the prevalence of Cardio Vascular Disease, there is an increase in comorbidities like diabetes, chronic pain, arrhythmias and depression, which are prevalent in the elderly Medicare population. All these factors drive the development of Prosthetic Heart Valve in the region.
North America Region Prosthetic Heart Valve Market Share in 2023 - 40.43%
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The product segment is divided into Mechanical Heart Valves, Biological/Tissue Heart Valves and Transcatheter Heart Valves. The Biological/Tissue Heart Valves segment dominated the market, with a market share of around 44.32% in 2023. This significant share is due to the high demand for biological or tissue heart valves in the prosthetic heart valve section. Biological or tissue heart valves offer a better natural and biocompatible choice for decreasing the chance of blood clot development and the need for anticoagulation therapy in the long term. Tissue heart valves are broadly preferred for the ageing population and the growth in the prevalence of cardiac disorders globally.
The end user segment is divided into hospital and ambulatory services. The hospital segment dominated the market, with a market share of around 73.56% in 2023. This significant share is attributed to the growth in the demand for faster treatment options and remedies. Hospitals are also largely considered because of their better healthcare and treatment facilities..
Report Description:
Attribute | Description |
---|---|
Market Size | Revenue (USD Billion) |
Market size value in 2023 | USD 10.68 Billion |
Market size value in 2033 | USD 32.60 Billion |
CAGR (2024 to 2033) | 11.81% |
Historical data | 2020-2022 |
Base Year | 2023 |
Forecast | 2024-2033 |
Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
Segments | Product and End User |
North America region emerged as the largest market for the Prosthetic Heart Valve.
The market's growth will be influenced by the surge in cardiovascular disease cases.
High Cost could hamper the market growth.
Growing elderly population will provide huge opportunities to the market.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Product
4.3.2. Market Attractiveness Analysis By End User
4.3.3. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. The surge in cardiovascular disease cases
5.3. Restraints
5.3.1. High Cost
5.4. Opportunities
5.4.1. Growing elderly population
5.5. Challenges
5.5.1. Economic slowdown
6. Global Prosthetic Heart Valve Market Analysis and Forecast, By Product
6.1. Segment Overview
6.2. Mechanical Heart Valves
6.3. Biological/Tissue Heart Valves
6.4. Transcatheter Heart Valves
7. Global Prosthetic Heart Valve Market Analysis and Forecast, By End User
7.1. Segment Overview
7.2. Hospital
7.3. Ambulatory Services
8. Global Prosthetic Heart Valve Market Analysis and Forecast, By Regional Analysis
8.1. Segment Overview
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.2.3. Mexico
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Italy
8.3.5. Spain
8.4. Asia-Pacific
8.4.1. Japan
8.4.2. China
8.4.3. India
8.5. South America
8.5.1. Brazil
8.6. Middle East and Africa
8.6.1. UAE
8.6.2. South Africa
9. Global Prosthetic Heart Valve Market-Competitive Landscape
9.1. Overview
9.2. Market Share of Key Players in Global Prosthetic Heart Valve Market
9.2.1. Global Company Market Share
9.2.2. North America Company Market Share
9.2.3. Europe Company Market Share
9.2.4. APAC Company Market Share
9.3. Competitive Situations and Trends
9.3.1. Product Launches and Developments
9.3.2. Partnerships, Collaborations, and Agreements
9.3.3. Mergers & Acquisitions
9.3.4. Expansions
10. Company Profiles
10.1. Edwards Lifesciences Corporation
10.1.1. Business Overview
10.1.2. Company Snapshot
10.1.3. Company Market Share Analysis
10.1.4. Company Product Portfolio
10.1.5. Recent Developments
10.1.6. SWOT Analysis
10.2. Abbott Laboratories
10.2.1. Business Overview
10.2.2. Company Snapshot
10.2.3. Company Market Share Analysis
10.2.4. Company Product Portfolio
10.2.5. Recent Developments
10.2.6. SWOT Analysis
10.3. Labcor Laboratorios Ltda
10.3.1. Business Overview
10.3.2. Company Snapshot
10.3.3. Company Market Share Analysis
10.3.4. Company Product Portfolio
10.3.5. Recent Developments
10.3.6. SWOT Analysis
10.4. Artivion, Inc.
10.4.1. Business Overview
10.4.2. Company Snapshot
10.4.3. Company Market Share Analysis
10.4.4. Company Product Portfolio
10.4.5. Recent Developments
10.4.6. SWOT Analysis
10.5. Boston Scientific Corporation
10.5.1. Business Overview
10.5.2. Company Snapshot
10.5.3. Company Market Share Analysis
10.5.4. Company Product Portfolio
10.5.5. Recent Developments
10.5.6. SWOT Analysis
10.6. Shockwave Medical
10.6.1. Business Overview
10.6.2. Company Snapshot
10.6.3. Company Market Share Analysis
10.6.4. Company Product Portfolio
10.6.5. Recent Developments
10.6.6. SWOT Analysis
10.7. Medtronic Plc
10.7.1. Business Overview
10.7.2. Company Snapshot
10.7.3. Company Market Share Analysis
10.7.4. Company Product Portfolio
10.7.5. Recent Developments
10.7.6. SWOT Analysis
10.8. JenaValve Technology, Inc.
10.8.1. Business Overview
10.8.2. Company Snapshot
10.8.3. Company Market Share Analysis
10.8.4. Company Product Portfolio
10.8.5. Recent Developments
10.8.6. SWOT Analysis
10.9. MERIL LIFE SCIENCES PVT. LTD.
10.9.1. Business Overview
10.9.2. Company Snapshot
10.9.3. Company Market Share Analysis
10.9.4. Company Product Portfolio
10.9.5. Recent Developments
10.9.6. SWOT Analysis
10.10. Livanova Plc
10.10.1. Business Overview
10.10.2. Company Snapshot
10.10.3. Company Market Share Analysis
10.10.4. Company Product Portfolio
10.10.5. Recent Developments
10.10.6. SWOT Analysis
List of Table
1. Global Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
2. Global Mechanical Heart Valves, Prosthetic Heart Valve Market, By Region, 2020-2033 (USD Billion)
3. Global Biological/Tissue Heart Valves, Prosthetic Heart Valve Market, By Region, 2020-2033 (USD Billion)
4. Global Transcatheter Heart Valves, Prosthetic Heart Valve Market, By Region, 2020-2033 (USD Billion)
5. Global Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
6. Global Hospital, Prosthetic Heart Valve Market, By Region, 2020-2033 (USD Billion)
7. Global Ambulatory Services, Prosthetic Heart Valve Market, By Region, 2020-2033 (USD Billion)
8. North America Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
9. North America Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
10. U.S. Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
11. U.S. Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
12. Canada Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
13. Canada Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
14. Mexico Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
15. Mexico Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
16. Europe Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
17. Europe Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
18. Germany Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
19. Germany Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
20. France Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
21. France Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
22. U.K. Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
23. U.K. Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
24. Italy Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
25. Italy Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
26. Spain Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
27. Spain Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
28. Asia Pacific Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
29. Asia Pacific Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
30. Japan Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
31. Japan Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
32. China Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
33. China Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
34. India Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
35. India Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
36. South America Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
37. South America Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
38. Brazil Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
39. Brazil Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
40. Middle East and Africa Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
41. Middle East and Africa Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
42. UAE Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
43. UAE Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
44. South Africa Prosthetic Heart Valve Market, By Product, 2020-2033 (USD Billion)
45. South Africa Prosthetic Heart Valve Market, By End User, 2020-2033 (USD Billion)
List of Figures
1. Global Prosthetic Heart Valve Market Segmentation
2. Global Prosthetic Heart Valve Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Prosthetic Heart Valve Market Attractiveness Analysis By Product
9. Global Prosthetic Heart Valve Market Attractiveness Analysis By End User
10. Global Prosthetic Heart Valve Market Attractiveness Analysis By Region
11. Global Prosthetic Heart Valve Market: Dynamics
12. Global Prosthetic Heart Valve Market Share By Product (2023 & 2033)
13. Global Prosthetic Heart Valve Market Share By End User (2023 & 2033)
14. Global Prosthetic Heart Valve Market Share By Regions (2023 & 2033)
15. Global Prosthetic Heart Valve Market Share By Company (2023)
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Prosthetic Heart Valve market based on below mentioned segments:
Global Prosthetic Heart Valve Market by Product:
Global Prosthetic Heart Valve Market by End User:
Global Prosthetic Heart Valve by Region:
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