Aortic Valve Replacement Devices Market Size to Surpass US$ 19.80 Billion by 2031 – Growth Plus Reports
Newark, New Castle, USA, July 04, 2023 (GLOBE NEWSWIRE) — Based on the latest analysis conducted by Growth Plus Reports, the global aortic valve replacement devices market was valued at approximately US$ 8.26 billion in 2022. It is projected to exhibit a robust growth rate, with a revenue compound annual growth rate (CAGR) of 10.2%. By the year 2031, the market is anticipated to reach a value of US$ 19.80 billion.
The global market for aortic valve replacement devices was analyzed and is expected to rise significantly during the forecast period. For patients with severe aortic stenosis, the only effective treatment is the implantation of a prosthetic aortic valve. According to current standards for cardiovascular treatment, all symptomatic patients with severe aortic insufficiency are advised to undergo aortic valve surgery.
- The rising prevalence of aortic stenosis and valvular disorders is driving the market revenue share.
- The rising number of geriatric populations is driving the demand for aortic valve replacement devices.
- Several technical advancements are creating a robust product in the pipeline.
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Aortic Valve Replacement Devices Market Scope
|Market Size Value in 2022||US$ 8.26 billion|
|Market Size Value in 2031||US$ 19.80 billion|
|Growth Rate||CAGR of 10.2% from 2023 to 2031|
|Base Year for Estimation||2022|
|Forecast Period||2023 to 2031|
|Segments Covered||Surgery, Product, End User, and Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa|
Recent Development in the Global Aortic Valve Replacement Devices Market:
- In March 2023, The Navitor transcatheter aortic valve implantation (TAVI) device from Abbott was given FDA approval. It is used to treat people with severe aortic stenosis who are at high or extremely high risk of undergoing open heart surgery.
- In September 2022, The Evolut FX TAVR, the newest self-expanding transcatheter aortic valve replacement system, will go on sale in the United States, according to Medtronic. This newest technology is an improved version of the current Evolut platform and was created to increase the predictability and simplicity of valve deployment for doctors.
A list of the top market players operating in the global market for aortic valve replacement devices is as follows:
- Edwards Lifesciences Corporation
- Boston Scientific Corporation
- Medtronic Plc
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Market Drivers and Restraints:
The global aortic valve replacement devices market revenue is driven by increased valvular illnesses, including aortic stenosis and aortic regurgitation, and the demand for less invasive procedures. Additionally, the industry is being greatly influenced by the growing elderly population and initiatives put forth by numerous government agencies to increase public awareness of valve replacement surgery.
However, high costs of aortic valve replacement are expected to restrain revenue growth of the global aortic valve replacement devices market.
Segmentation By Surgery
Based on surgery, the global aortic valve replacement devices market is segmented into open and minimally invasive surgery. Due to the smaller incision, shorter recovery time, ease of performance, and high success rate, the minimally invasive surgery segment accounts for the largest market revenue share.
Segmentation By Products
Based on the products, the global aortic valve replacement devices market is segmented into transcatheter aortic valves, suture-less valves, and others. The transcatheter aortic valve segment accounts for the largest revenue share as these are less intrusive than surgical aortic valve replacement devices.
Segmentation By End User
Based on the end user, the global aortic valve replacement devices market is segmented into hospitals, ambulatory surgery centers, and others. The hospital segment dominates the global market with the largest revenue share due to the presence of skilled workers, numerous surgeries performed, availability of sophisticated infrastructure, and emergency care.
Regional Growth Dynamics
Based on the region, the global aortic valve replacement devices market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to the aging population, an increase in the prevalence of valvular diseases, and a growing comprehension of the benefits of aortic valve replacement devices over other surgical techniques, North America, with the largest revenue share, dominates the global market.
Growth Plus Reports studied the global market for aortic valve replacement devices in-depth. Basic market features, important investment sectors, analyses of regional growth, revenue projections, rival market participants, and mergers and acquisitions were all examined.
Table of Content
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- Reimbursement Scenario
- MARKET DYNAMICS
- GLOBAL AORTIC VALVE REPLACEMENT DEVICES MARKET – ANALYSIS & FORECAST, BY SURGERY
- Open Surgery
- Minimally invasive Surgery
- GLOBAL AORTIC VALVE REPLACEMENT DEVICES MARKET – ANALYSIS & FORECAST, BY PRODUCT
- Transcatheter Aortic Valve
- Suture-less Valve
- GLOBAL AORTIC VALVE REPLACEMENT DEVICES MARKET – ANALYSIS & FORECAST, BY END USER
- Ambulatory Surgery Centers
AORTIC VALVE REPLACEMENT DEVICES MARKET TOC
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- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market.
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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