Aortic Valve Replacement Market Report 2024 | Trends, Size, Demand and Forecast by 2032

IMARC Group’s report titled “Aortic Valve Replacement Market Report by Surgery (Open Surgery, Minimally Invasive Surgery), Product (Transcatheter Aortic Valve, Sutureless Valve, and Others), End Use (Hospitals, Ambulatory Surgery Centers, and Others), and Region 2024-2032”. The global aortic valve replacement market size reached US$ 10.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 25.0 Billion by 2032, exhibiting a growth rate (CAGR) of 10.1% during 2024-2032.

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Factors Affecting the Growth of the Aortic Valve Replacement Industry:

• Aging Population:

As people age, the risk of developing cardiovascular diseases, including aortic stenosis, increases. Aortic stenosis is particularly prevalent among the elderly, where the aortic valve narrows, restricting blood flow from the heart. This condition is life-threatening if left untreated, making aortic valve replacement necessary. Healthcare systems are increasingly focusing on geriatric care, with aortic valve replacement becoming a standard treatment for elderly patients. This demographic trend ensures a steady demand for both surgical and minimally invasive (MI) procedures, significantly contributing to the market's expansion.

• Advancements in Technology:

Transcatheter aortic valve replacement (TAVR) is a less invasive procedure as compared to traditional open-heart surgery, making it suitable for high-risk patients who cannot undergo conventional surgery. The continuous innovation in valve design, imaging technologies, and delivery systems benefit in improving the safety, efficacy, and recovery time associated with these procedures. Newer generations of TAVR devices are designed for better durability and ease of implantation, leading to better patient outcomes. The development of such advanced technologies is expanding the patient base by offering treatment options to those previously deemed inoperable.

• Rising Awareness and Screening:

Increasing awareness and improved screening for aortic valve diseases are impelling the market growth. Public health campaigns and educational initiatives are making more people aware about the symptoms and risks associated with aortic valve conditions, such as aortic stenosis. This heightened awareness is leading to earlier diagnosis and intervention, often necessitating valve replacement. Advancements in diagnostic tools, including echocardiography and cardiac magnetic resonance imaging (MRI), are making it easier for healthcare providers to detect aortic valve issues at earlier stages. Early detection allows for timely treatment, improving patient outcomes and increasing the demand for valve replacement procedures.

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Leading Companies Operating in the Global Aortic Valve Replacement Industry:

• Abbott Laboratories

• Anteris Technologies Ltd.

• Boston Scientific Corporation

• Coroneo Inc.

• CryoLife Inc.

• Edward Lifesciences Corporation

• JenaValve Technology Inc.

• LifeNet Health Inc.

• LivaNova PLC

• Medtronic plc

• Thubrikar Aortic Valve Inc.

Aortic Valve Replacement Market Report Segmentation:

By Surgery:

• Open Surgery

• Minimally Invasive Surgery

Minimally invasive surgery represents the largest segment due to its ability to reduce recovery times and lower the risk of complications.

By Product:

• Transcatheter Aortic Valve

• Sutureless Valve

• Others

Transcatheter aortic valve holds the biggest market share as it is advantageous for high-risk patients who are not ideal candidates for traditional surgery due to advanced age or comorbidities.  

By End Use:

• Hospitals

• Ambulatory Surgery Centers

• Others

Hospitals account for the largest market share, driven by their comprehensive care facilities required for complex procedures like aortic valve replacement.   

Regional Insights:

• North America (United States, Canada)

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

• Latin America (Brazil, Mexico, Others)

• Middle East and Africa

North America enjoys a leading position in the aortic valve replacement market on account of the presence of highly developed healthcare infrastructure.    

Global Aortic Valve Replacement Market Trends:

Favorable reimbursement policies play a crucial role in driving the aortic valve replacement market. In many developed regions, insurance coverage for aortic valve replacement, including newer procedures like TAVR, assists in improving accessibility to these treatments. Governing agencies of various countries are implementing policies that cover significant portions of the treatment cost. For patients, this financial support reduces the burden of undergoing expensive procedures.  

In addition, rising incidences of cardiovascular diseases among the masses across the globe are propelling the market growth. Besides this, increasing healthcare spending, particularly in emerging markets, is facilitating access to advanced medical procedures, including aortic valve replacement.

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