The global prosthetic heart valve market is projected to be valued at USD 13,234.9 million by 2023 and is expected to grow significantly over the next decade. By 2033, the market is anticipated to reach USD 27,277.6 million, driven by a compound annual growth rate (CAGR) of 7.5%.
The surge in demand for prosthetic heart valves is largely due to the increasing prevalence of valvular heart diseases such as tricuspid regurgitation, idiopathic and ischemic mitral regurgitation, and aortic stenosis. As the global population ages and the incidence of these conditions rises, the need for effective heart valve replacements continues to grow.
Catalysts for Market Growth of Prosthetic Heart Valve
- As the world’s population ages, valvular heart diseases, frequently necessitating heart valve replacement, occur more regularly. The demographic transition significantly compels the demand for prosthetic heart valves.
- Government organizations and regulatory authorities worldwide have set standards and approval procedures to guarantee the safety and effectiveness of prosthetic heart valves. The regulatory frameworks boost patient and professional confidence, which fosters market expansion for prosthetic heart valves.
- Advanced surgical techniques have become readily accessible since advancements in healthcare infrastructure, particularly in emerging nations. Since patients can now undergo therapy, this has benefited the prosthetic heart valve sector.
- Research and development efforts in cardiology and cardiac surgery have produced cutting-edge heart valve technologies, including tissue-engineered heart valves, which may propel market expansion for prosthetic heart valves.
Competitive Analysis
Due to the aging population and the increased prevalence of cardiac illnesses, there is fierce rivalry in the sales of prosthetic heart valves. Prominent prosthetic heart valve manufacturers dominate the industry with a broad selection of products. Key research areas include advancements in biocompatibility, robustness, and minimally invasive methods.
New prosthetic heart valve suppliers are introducing modern technologies, and expanding markets in the Asia Pacific have room for expansion. Critical market share variables for prosthetic heart valves include cost-effectiveness, regulatory approvals, and market penetration techniques. The intense competition encourages constant innovations in artificial cardiac valve devices and better patient results.
Key Prosthetic Heart Valve Manufacturers
- Edward Lifesciences Corporation
- St. Jude Medical, Inc.
- Medtronic plc.
- Boston Scientific Corporation
- Abbott Laboratories
- SYMETIS
- LivaNova PLC
- CryoLife, Inc.
- Braile Biomedica
- Colibri Heart Valve LLC
- JenaValve Technology, Inc.
- Microinterventional Devices
- Autotissue Berlin Gmbh
- Meril Lifesciences
- Comed B.V.
Get Full Report Now
Key Segments
By Product:
- Mechanical Heart Valves
- Mechanical Aortic Valve
- Mechanical Mitral Valve
- Biological/Tissue Heart Valves
- Tissue Aortic Valve
- Tissue Mitral Valve
- Transcatheter Heart Valves
- Transcatheter Aortic Valve
- Transcatheter Mitral Valve
By End User:
- Hospitals
- Ambulatory Services
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
