According to the latest report by IMARC Group “Aortic Valve Replacement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global aortic valve replacement market size reached US$ 8.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 15.8 Billion by 2027, exhibiting a growth rate (CAGR) of 11.59% during 2022-2027.
Aortic valve replacement is a medical procedure to treat conditions affecting the valves that control the blood flow from the heart to the body. It is recommended for patients whose aortic valves are damaged beyond repair. It is generally performed through the traditional open-heart surgery method, which involves making an incision in the chest or minimally invasive (MI) techniques requiring small chest incisions or catheter insertion in the leg. It also helps restore normal blood flow, alleviate symptoms, extend life, and maintain the function of the heart muscle. As a result, aortic valve replacement is widely applied in ambulatory surgery centers and hospitals.
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Market Trends:
The market is primarily driven by the increasing prevalence of several valvular diseases, such as aortic stenosis and aortic regurgitation. In addition, the expanding geriatric population that is more susceptible to these ailments as aging causes valves to become narrow and stiff is contributing to market growth. Moreover, the growing popularity of minimally invasive surgeries (MIS) and transcatheter aortic valve replacement (TAVR) systems to treat severe aortic regurgitation (AR) and AR-dominant mixed aortic valve diseases represents another major growth-inducing factor. Besides this, governments of numerous countries are taking the initiative to create awareness regarding valve replacement and manage valvular diseases, which is providing a positive thrust to the market growth. Along with this, the advent of sutureless valves with numerous benefits, such as lower mortality and good hemodynamic and post-surgery results, is propelling the market growth. Furthermore, extensive research and development (R&D) activities on the transcatheter valve and clinical studies to test effectiveness, safety, and range of interventions are accelerating the product adoption rate globally.
Breakup by Surgery:
- Open Surgery
- Minimally Invasive Surgery
Breakup by Product:
- Transcatheter Aortic Valve
- Sutureless Valve
- Others
Breakup by End Use:
- Hospitals
- Ambulatory Surgery Centers
- Others
Market Breakup by Region:
- 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
Competitive Landscape with Key Player:
- 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.
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