Increased healthcare spending and improved access to advanced medical treatments in emerging markets support the growth of the heart valve devices market.

WILMINGTON, Del., July 30, 2024 /PRNewswire/ -- The heart valve devices market was projected to attain US$ 10.9 billion in 2023. It is likely to garner an 11.7% CAGR from 2024 to 2034, and by 2034, the market is expected to attain US$ 38.2 billion.

There is a strong trend towards minimally invasive techniques like transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR), which offer reduced recovery times and lower surgical risks. The development of advanced materials, such as biocompatible polymers and tissue-engineered valves, enhances the performance and durability of heart valve devices.

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Customizable and patient-specific valve solutions are gaining traction, driven by advancements in imaging and 3D printing technologies. The use of digital health technologies, including remote monitoring and telemedicine, is becoming more prevalent, improving patient management and outcomes.

Companies can capitalize on opportunities by developing innovative products, such as next-generation valve prosthetics and advanced delivery systems, to address unmet clinical needs. Greater awareness and education about heart valve diseases and treatment options among both healthcare professionals and patients are contributing to higher diagnosis rates and treatment adoption.

Supportive healthcare policies and funding for cardiovascular disease management can improve access to advanced heart valve treatments and technologies. Enhanced imaging technologies, such as echocardiography and MRI, provide better diagnostics and pre-procedure planning, leading to improved outcomes and expanded use of heart valve devices.

Heart Valve Devices Market: Key Players

The competitive landscape of the heart valve devices market is characterized by a dynamic environment with significant involvement from both established players and emerging companies. The following companies are well known participants in the heart valve devices market:

• Medtronic plc
• Boston Scientific Corporation
• Abbott
• Edwards Lifesciences Corporation
• Foldax Inc.
• Novostia SA
• Meril Life Sciences Pvt. Ltd.
• Corcym UK Limited
• JenaValve Technology Inc.
• Micro Interventional Devices Inc.
• Others

Key Developments

• In 2024, Edwards Lifesciences announced the European launch of its SAPIEN 3 Ultra RESILIA valve. This transcatheter aortic heart valve features the company's advanced RESILIA tissue technology, designed for extended durability. Additionally, the device received CE mark approval for treating patients with heart valve disease caused by native calcific aortic stenosis.
• In the same year, Medtronic introduced its next-generation surgical aortic tissue valve, the Avalus Ultra Bioprosthesis. This device is designed for easy implantation, provides clear visibility for future valve-in-valve procedures, and features convenient sizing. Additionally, the valve incorporates a polyetheretherketone (PEEK) base frame to ensure consistent circularity.

Heart Valve Devices Market Report Scope:

Key Findings of Market Report

• Exploring innovative technologies, such as bioengineered heart valves and regenerative medicine approaches, offers potential breakthroughs in heart valve treatment.
• Investing in clinical trials and research can lead to the development of new and improved heart valve devices, establishing market leadership and differentiation.
• Broadening the indications for heart valve devices to include conditions beyond traditional valve diseases can create new market opportunities.
• The development of more sophisticated diagnostic tools and techniques for early detection and accurate assessment of heart valve diseases enhances treatment planning and outcomes.

Market Trends for Heart Valve Devices

• By type of heart valve, the aortic valve segment is expected to boost the growth of the heart valve devices market. Aortic stenosis, particularly among the aging population, is a major driver of demand for aortic valve replacements. The condition often requires intervention when symptoms become severe, leading to increased use of aortic valve devices.
• The development and growing adoption of minimally invasive TAVR procedures for aortic valve replacement are driving market growth. TAVR offers advantages such as shorter recovery times and reduced surgical risks compared to traditional open-heart surgery.
• By material, the biological valves segment is anticipated to propel the market growth. The increasing use of transcatheter aortic valve implantation (TAVI) procedures, which predominantly use biological valves, is driving growth.
• Biological valves are favored in TAVI due to their design and compatibility with minimally invasive techniques. Continuous improvements in biological valve materials and technology, such as the development of more durable and biocompatible biological valves, enhance their performance and longevity, driving increased adoption.

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Global Market for Heart Valve Devices: Regional Outlook

North America

• North America is a hub for medical device innovation, with significant investments in research and development leading to the development of advanced heart valve devices and technologies.
• The adoption of minimally invasive procedures, such as Transcatheter Aortic Valve Replacement (TAVR), is growing due to technological advancements that improve patient outcomes and reduce recovery times.

Asia Pacific

• The growth of local manufacturing and partnerships with international companies enable the production and distribution of advanced heart valve devices at a lower cost, improving market accessibility.
• Increased focus on clinical research and development in the region supports the innovation and introduction of new heart valve technologies.

Heart Valve Devices Market Segmentation

Type of Heart Valve

• Aortic Valve
• Less than 20 mm
• 20 to 23 mm
• 23 to 26 mm
• More than 26 mm
• Mitral Valve
• Less than 26 mm
• 26-28 mm
• 29-31 mm
• More than 31 mm
• Tricuspid Valve
• Pulmonary Valve

Material

• Biological Valves
• TAVI
• Surgical
• Others
• Mechanical Valves

Age Group

• Pediatric Patients
• Adults
• Geriatric Patients

End User

• Hospitals
• Ambulatory Surgical Centers
• Others

Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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