According to MRFR analysis, Aortic Valve Market Size is expected to register a CAGR of 11.1% during the forecast period and held a value of USD 6,454.91 Million in 2018.
An aortic valve is surgically implanted in the heart to replace a valve that has damaged due to heart valve diseases such as stenosis, regurgitation, and atresia. The replacement of damaged valves with prosthetic heart valves reduces the morbidity and mortality associated with aortic valve disorders.
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The growth of the global aortic valve market is boosted by various factors such as the rising geriatric population, surge in prevalence of cardiac disorders, in conjunction with the introduction of innovative products in the market. According to the Heart Valve Voice, approximately 1.5 million people over the age of 65 years are currently affected by heart valve disease in the UK, and the number is expected to increase up to 19 million by 2050. Moreover, increasing product approvals are likely to provide favorable conditions for the growth of the market. For instance, in June 2017, the US FDA granted market clearance for aortic and mitral valve-in-valve procedures using the Edwards Lifesciences Sapien 3 transcatheter heart valve (THV).
However, product recalls due to safety reasons and changing regulatory landscapes are likely to hamper the growth of the market during the forecast period.
Several market players currently dominate the global aortic valve market. The key players are engaged in product launches and strategic collaborations to strengthen their market positions.
Regional Analysis
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East Africa. The Americas held the maximum share in the base year 2018, owing to the presence of established key players in countries such as the US and Canada. The aortic valve market in the Americas has further been branched into North America and Latin America, with the North American market is further divided into the US and Canada. The European aortic valve market has been categorized as Western Europe and Eastern Europe. The Western European market has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The aortic valve market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The aortic valve market in this region is anticipated to be the fastest growing during the assessment period due to the booming geriatric population, rising prevalence of cardiovascular diseases, and favorable government initiatives for disease treatment. The aortic valve market in the Middle East Africa has been divided into the Middle East and Africa.
Aortic Valve Market Segmentation
The Global Aortic Valve Market has been segmented based on Type of Valve, Suture, Surgery, and End User.
The market, based on valve type, has been divided into mechanical and biological. The mechanical valve segment is likely to be the largest due to the high adoption of mechanical valves in replacement procedures. The biological valves segment is predicted to be the fastest-growing due to the increasing awareness about the advantages of biological valves in replacement procedures. Magna Ease (Edwards Lifesciences Corporation), Hancock II (Medtronic), Trifecta (Abbott) are some of the well-known biological valves’ brands currently present in the market.
The Global Aortic Valve Market has been segmented, based on the surgery type, into minimally invasive surgery and open surgery. The minimally invasive surgery segment is further divided into transfemoral, transaortic implantation, transapical, and trans-subclavian. It is expected to hold majority share of the market owing to shorter hospital stay, less pain, and faster recovery as compared to open-heart surgery.
The end users of the market are hospitals, ambulatory surgery centers. The hospital segment is likely to hold the maximum share during the forecast period.
Key Players
Some of the key players in the Global Aortic Valve Market are Boston Scientific Corporation (US), Medtronic(US), Abbott Laboratories (US), LivaNova PLC (UK), Edwards Lifesciences Corporation (US), CryoLife (US), Biotronik (Germany), Colibri Heart Valve (US), JenaValve (US), and TTK HealthCare (India), among others.
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