Data Bridge Market Research analyzes that the heart valve devices market is expected to reach the value of USD 23,665.51 million by 2030, at a CAGR of 13.4% during the forecast period. Product type accounts for the largest type segment in the market due to rapid demand of heart valves devices globally. This market report also covers pricing analysis, patent analysis, and technological advancements in depth.
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Heart valve devices are used to treat blocked heart valves, and implanting these devices is one of the most common procedures. Structural heart valve devices available on the market include mechanical, biological, and transcatheter valves. The global heart valve devices market is likely to grow steadily during the forecast period due to the increasing number of heart valve surgeries across the globe.
The growth of the global heart valve devices market is anticipated to be driven by developments in structural heart devices and procedures such as aortic valves, left atrial occlusion devices and tissue or biological valves. Tissue valves have already revolutionized the market for heart valve devices. Next-generation heart valve surgeries offering low delivery patient profiles, more controlled surgeries, better valve function, reduced paravalvular regurgitation, increased durability, and lower costs. Product innovations by key market players have boosted the growth of market by enabling them to address a larger patient population and achieve better clinical outcomes.
Increasing Awareness of Prosthetic Devices
A prosthesis is a device designed to replace a missing body part or to improve the function of a body part. Prosthetic heart valves are increasingly used in cases of abnormalities of the natural valves that require intervention. Generally, they can be divided into mechanical heart valves, biological valves, and allogeneic grafts. The goal of artificial valves is to act hemodynamically like a natural valve with minimal side effects. Cardiovascular prostheses devices have been developed to replace damaged heart tissue. These medical devices are designed to mimic the function of normal cardiovascular organs. Artificial hearts allow heart surgeons to increase the treatment of heart blocks.
Moreover, the prevalence of prosthetic valves ranges from 0.2 per 1,000 in people years of age or younger to 5.3 in people years of age or younger. Thus the increasing awareness about prosthetic devices acts as an opportunity for the market’s growth.
North America is dominating the market due to the increasing investment in R&D. The U.S. dominates North America region due to strong presence of key players. Germany dominates Europe region due to the mass production of heart valve devices and increasing demand from emerging markets and expansion of healthcare industries. China dominates Asia-Pacific region due to rise in availability of heart valve disease related surgery devices.
Some of the key players operating in the heart valve devices market are Abbott, Boston Scientific Corporation or its affiliates, Artivion, Inc., Edwards Lifesciences Corporation, Medtronic, NeoVasc, Micro Interventional Devices Incorporated, XELTIS, TTK, Meril Life Sciences Pvt. Ltd, Foldax, Inc., Venus Medtech (Hangzhou) Inc., Colibri Heart Valve among others.
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