The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Prosthetic Heart Valve Devices And Equipment Global Market Report 2024, the prosthetic heart valve devices and equipment market is expected to show promising growth in the forecast period.

The prosthetic heart valve devices and equipment market have experienced rapid expansion, witnessing a surge from $5.65 billion in 2023 to $6.22 billion in 2024, boasting a commendable Compound Annual Growth Rate (CAGR) of 10.0%. This growth in the historic period is attributed to the prevalence of cardiovascular diseases, the aging population, the emphasis on chronic disease management, and advancements driven by clinical guidelines and research.

Future Projections
Anticipating a robust future, the market is expected to reach $8.84 billion by 2028, maintaining a CAGR of 9.2%. The forecasted growth is fueled by factors such as the adoption of minimally invasive procedures, the integration of telehealth, global access to healthcare, and the utilization of drug-coated devices. Noteworthy trends in the forecast period include the incorporation of artificial intelligence (AI) in vascular medicine, the rise of robot-assisted interventions, the prominence of point-of-care testing, and the emergence of bioresorbable vascular scaffolds.

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Rising Prevalence of Valvular Heart Disease

Driving the TAVR Surge
Valvular heart disease has emerged as a pivotal driver for the prosthetic heart valve devices and equipment market. The escalating prevalence of valvular heart diseases has led to an increased demand for transcatheter aortic valve replacement (TAVR) procedures. TAVR, a minimally-invasive surgical procedure, addresses aortic stenosis, a condition that hardens the aortic valve, impeding proper blood flow. In 2021, TAVR procedures accounted for more than 84% of aortic valve replacement procedures in the United States, with 92,000 procedures conducted. This surge is expected to persist as the occurrence of valvular heart diseases continues to rise, propelling the demand for transcatheter valves.

Key Players Shaping the Market

Industry Titans
Major companies playing a pivotal role in the prosthetic heart valve devices and equipment market include Boston Scientific Corporation, Edwards Lifesciences, Medtronic PLC, LivaNova PLC, Abbott Laboratories, and several others. The diversity of these companies contributes to the richness and innovation within the market.

Innovative Product Developments

Transformative Offerings for Cardiovascular Health
Innovation takes center stage as major players strive to enhance profitability through novel product developments. Abbott Laboratories, for instance, introduced Epic Plus and Epic Plus Supra Stented Tissue Valves in September 2021. Approved by the Food and Drug Administration, these valves represent a leap forward in treating patients with aortic or mitral valve dysfunction. The valves, based on successful predecessors, bring advancements in radiopacity and implantability, catering to even the most complex patient anatomies.

Market Segmentation Insights

Navigating the Landscape

The prosthetic heart valve devices and equipment market is intricately segmented:

1. Product Type: Repair Products, Mitral Valve Repair Devices, Tricuspid Valve Repair Devices.
2. Type: Transcatheter Heart Valve, Tissue Heart Valve, Mechanical Heart Valve.
3. Technology: Biological Valve, Decellularized Valve.
4. Application: Hospitals, Ambulatory Surgery Centres.

North America Takes the Lead
In 2023, North America emerged as the largest region in the global prosthetic heart valve devices and equipment market. The region’s dominance underscores the advancements, investments, and market penetration achieved in the field of cardiovascular health.

In conclusion, the prosthetic heart valve devices market is on an upward trajectory, fueled by a confluence of factors such as technological innovations, rising demand for minimally invasive procedures, and a growing global focus on healthcare accessibility. As we look towards 2028, the market promises to be a dynamic arena, with transformative trends shaping the landscape of cardiovascular health.

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