Heart Valve Replacement Market — Global Industry Analysis, Size, Share, Growth, Trends and Forecast

The global Heart Valve Replacement Market was valued at USD 4,372.3 Million in 2019 and is projected to reach USD 15,139.2 Million by 2027, expanding at a CAGR of 17.5% during the forecast period. Cardiovascular conditions are deteriorating day by day due to rapid changes in the lifestyle such as food consumption habits, lack of exercise and stressful work environment and work-life balance pressure which causes diseases such as aortic stenosis, regurgitation, atresia, prolapse, and valvular stenosis, which, in turn, is responsible for the death of more people than cancer and road accidents put together. Atresia, regurgitation or valvular inadequacy, prolapse and valvular stenosis are some major diseases associated with the heart valve. These diseases can be treated with the help of the replacement or repair of the heart valve.

Market Dynamics
Major factors driving the market are rising healthcare infrastructure, technology innovation, growing per capita disposable income, adoption of non-invasive technology, awareness regarding the significance of transcatheter devices. Additionally, the less mortality rate over conventional surgical methods, easier to use the device and increasing the success rate of replacing the mitral and aortic heart valve by using transcatheter method is rather better over traditional methods. Increasing prevalence of heart valve disease in Elderly Population and the growing prevalence of severe aortic stenosis disorder and mitral regurgitation. To solve problems about the fluid dynamics associated with the valve designs, various numerical methods have been introduced, which is expected to boost the heart valve replacement market. There are some factor which shows negative impact on the market such as the prohibitive cost of the transcatheter heart valves may interfere with the accessibility of the product in the developing countries of the world. Factors responsible for restraining the growth of the heart replacement market such as the risks and complications associated with heart valve surgeries, such as breathing problems and embolism, and inadequacy of primary healthcare infrastructure in developing countries.

Definitions

By Position

Aortic Valve: The aortic valve is a valve in the human heart between the left ventricle and the aorta. It is one of the two semilunar valves of the heart, the former being the pulmonary valve. The heart has four valves; the other two are the mitral and the tricuspid valves. Aortic valve is located between the left ventricle and the aorta (the large blood vessel that carries blood to the rest of the body). When your ventricle contracts, blood is forced through the aortic valve, into the aorta, and out to the rest of your body.

Mitral Valve: Mitral valve is a valve with two flaps in the heart, present between the left ventricle and left atrium, and it is also known as bicuspid valve or left atrioventricular valve. The tricuspid valve and mitral valve are known as the atrioventricular valves because they are present between the ventricles and the atria of the heart.

Pulmonary Valve: The pulmonic valve, also known as a pulmonary valve, is the semilunar valve of the heart which lies between the pulmonary artery, right ventricle and has three cusps. The pulmonary artery opens in ventricular systole whenever the pressure in the right ventricle rises above the pressure in the pulmonary artery, similar to the aortic valve. When the pressure in the right ventricle falls rapidly at the end of the ventricular systole, the pulmonary valve will be closed by the pressure of the pulmonary artery.

Tricuspid Valve: The tricuspid valve also known as a right atrioventricular valve, is present at the superior portion of the right ventricle, on the dorsal side of the mammalian heart. The main function of this valve is to prevent the backflow of blood from the right ventricle to the right atrium during right ventricular contraction called systole.

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Regional Outlook

In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is a promising region for the market. The region constituted around 35.5% share of the market in 2020. The market in the region is projected to expand at a CAGR of around 15.8% during the forecast period as there is increase in heart related diseases in North America, increasing focus of players in drug development and heart valve replacement therapy development, rise in government initiatives are some of the factors expected to boost the market growth on the region.

Competitive Landscape

• Key players in the market include VENUS MEDTECH, Abbott, Boston Scientific Corporation, Colibri Heart Valve, CryoLife, Inc., Edwards Lifesciences Corporation, HLT, Inc., JenaValve Technology, Inc. LifeNet Health., Medtronic, Meril Life Sciences Pvt. Ltd. These companies are considered manufacturers of heart valve replacement based on their regional presence, revenue, supply chain management system, and research development (R&D) activities.
• The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the heart valve replacement is added in the company’s capacity.
• For instance, in 2015, Edwards Lifesciences Corporation announced the acquisition of CardiAQ. CardiAQ Valve Technologies, Inc., a privately held company and developer of a transcatheter mitral valve replacement system. This action of the company helps them to increase product portfolio.
• In 2017, Medtronic Expanded Heart Valve Portfolio with FDA Approval and CE Mark of the Avalus (TM) Surgical Aortic Valve.

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