Heart Valve Devices Market to Reach US$ 38.2 Billion by 2034, Driven by Rising Cardiovascular Diseases and Innovative Minimally Invasive Procedures | TMR

News provided by

Jul 30, 2024, 05:16 ET

Increased healthcare spending and improved access to advanced medical treatments in emerging markets support the growth of the heart valve devices market.

WILMINGTON, Del., July 30, 2024 /PRNewswire/ -- The heart valve devices market was projected to attain US$ 10.9 billion in 2023. It is likely to garner an 11.7% CAGR from 2024 to 2034, and by 2034, the market is expected to attain US$ 38.2 billion.

There is a strong trend towards minimally invasive techniques like transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR), which offer reduced recovery times and lower surgical risks. The development of advanced materials, such as biocompatible polymers and tissue-engineered valves, enhances the performance and durability of heart valve devices.

Download Sample of the Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=486

Customizable and patient-specific valve solutions are gaining traction, driven by advancements in imaging and 3D printing technologies. The use of digital health technologies, including remote monitoring and telemedicine, is becoming more prevalent, improving patient management and outcomes.

Companies can capitalize on opportunities by developing innovative products, such as next-generation valve prosthetics and advanced delivery systems, to address unmet clinical needs. Greater awareness and education about heart valve diseases and treatment options among both healthcare professionals and patients are contributing to higher diagnosis rates and treatment adoption.

Supportive healthcare policies and funding for cardiovascular disease management can improve access to advanced heart valve treatments and technologies. Enhanced imaging technologies, such as echocardiography and MRI, provide better diagnostics and pre-procedure planning, leading to improved outcomes and expanded use of heart valve devices.

Heart Valve Devices Market: Key Players

The competitive landscape of the heart valve devices market is characterized by a dynamic environment with significant involvement from both established players and emerging companies. The following companies are well known participants in the heart valve devices market:

Medtronic plc
Boston Scientific Corporation
Abbott
Edwards Lifesciences Corporation
Foldax Inc.
Novostia SA
Meril Life Sciences Pvt. Ltd.
Corcym UK Limited
JenaValve Technology Inc.
Micro Interventional Devices Inc.
Others

Key Developments

In 2024, Edwards Lifesciences announced the European launch of its SAPIEN 3 Ultra RESILIA valve. This transcatheter aortic heart valve features the company's advanced RESILIA tissue technology, designed for extended durability. Additionally, the device received CE mark approval for treating patients with heart valve disease caused by native calcific aortic stenosis.
In the same year, Medtronic introduced its next-generation surgical aortic tissue valve, the Avalus Ultra Bioprosthesis. This device is designed for easy implantation, provides clear visibility for future valve-in-valve procedures, and features convenient sizing. Additionally, the valve incorporates a polyetheretherketone (PEEK) base frame to ensure consistent circularity.

Heart Valve Devices Market Report Scope:

Report Coverage	Details
Forecast Period	2024-2034
Base Year	2020-2022
Size in 2023	US$ 10.9 Bn
Forecast (Value) in 2034	US$ 38.2 Bn
Growth Rate (CAGR)	11.7 %
No. of Pages	252 Pages
Segments covered	By Type of Heart Valve, By Material, By Age Group, By Region, By End-user

Key Findings of Market Report

Exploring innovative technologies, such as bioengineered heart valves and regenerative medicine approaches, offers potential breakthroughs in heart valve treatment.
Investing in clinical trials and research can lead to the development of new and improved heart valve devices, establishing market leadership and differentiation.
Broadening the indications for heart valve devices to include conditions beyond traditional valve diseases can create new market opportunities.
The development of more sophisticated diagnostic tools and techniques for early detection and accurate assessment of heart valve diseases enhances treatment planning and outcomes.

Market Trends for Heart Valve Devices

By type of heart valve, the aortic valve segment is expected to boost the growth of the heart valve devices market. Aortic stenosis, particularly among the aging population, is a major driver of demand for aortic valve replacements. The condition often requires intervention when symptoms become severe, leading to increased use of aortic valve devices.
The development and growing adoption of minimally invasive TAVR procedures for aortic valve replacement are driving market growth. TAVR offers advantages such as shorter recovery times and reduced surgical risks compared to traditional open-heart surgery.
By material, the biological valves segment is anticipated to propel the market growth. The increasing use of transcatheter aortic valve implantation (TAVI) procedures, which predominantly use biological valves, is driving growth.
Biological valves are favored in TAVI due to their design and compatibility with minimally invasive techniques. Continuous improvements in biological valve materials and technology, such as the development of more durable and biocompatible biological valves, enhance their performance and longevity, driving increased adoption.

Download Sample of the Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=486

Global Market for Heart Valve Devices: Regional Outlook

North America

North America is a hub for medical device innovation, with significant investments in research and development leading to the development of advanced heart valve devices and technologies.
The adoption of minimally invasive procedures, such as Transcatheter Aortic Valve Replacement (TAVR), is growing due to technological advancements that improve patient outcomes and reduce recovery times.

Asia Pacific

The growth of local manufacturing and partnerships with international companies enable the production and distribution of advanced heart valve devices at a lower cost, improving market accessibility.
Increased focus on clinical research and development in the region supports the innovation and introduction of new heart valve technologies.

Heart Valve Devices Market Segmentation

Type of Heart Valve

Aortic Valve
Less than 20 mm
20 to 23 mm
23 to 26 mm
More than 26 mm
Mitral Valve
Less than 26 mm
26-28 mm
29-31 mm
More than 31 mm
Tricuspid Valve
Pulmonary Valve

Material

Biological Valves
TAVI
Surgical
Others
Mechanical Valves

Age Group

Pediatric Patients
Adults
Geriatric Patients

End User

Hospitals
Ambulatory Surgical Centers
Others

Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

Buy this Premium Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=486&ltype=S

More Trending Report by Transparency Market Research:

Brain Implants Market - The brain implants market was valued at US$ 4.2 billion in 2022. A CAGR of 8.4% is forecast for the industry from 2023 to 2031, resulting in a market value of over US$ 8.8 billion at the end of the decade.
Cuffless Blood Pressure Monitoring Devices Market - Cuffless Blood Pressure Monitoring Devices Market was valued at US$ 599.2 Mn in 2023, it is expected to grow at a CAGR of 10.8% from 2024 to 2034 and reach US$ 1.9 Bn by the end of 2034
Contact and Intraocular Lenses Market - Global Industry for Contact and Intraocular Lenses was valued at US$ 11.6 Bn in 2023, it is expected to grow at a CAGR of 6.4% from 2024 to 2034 and reach US$ 22.9 Bn by the end of 2034
Electronic Health Records Market likely to surpass USD 50 Bn by 2031, expanding at a 5% CAGR

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: [email protected]
Follow Us: LinkedIn| Twitter| Blog | YouTube