The latest report by IMARC, titled “Aortic Valve Replacement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global aortic valve replacement market size reached US$ 9.1 Billion in 2022. Aortic valve replacement refers to a surgical procedure that involves replacing a diseased or damaged aortic valve with an artificial valve. The aortic valve is one of the four valves in the heart that regulates blood flow from the heart to the body. When the aortic valve is damaged or diseased, it can affect blood flow and put stress on the heart. Aortic Valve Replacement is often recommended for patients with severe aortic valve disease, such as aortic stenosis or aortic regurgitation, who have symptoms like chest pain, shortness of breath, or fatigue, and who do not respond to other treatments. During the procedure, the surgeon removes the damaged valve and replaces it with an artificial valve made of materials like metal, plastic, or animal tissue. In recent years, aortic valve replacement has been increasingly opted by individuals to improve blood flow and relieve symptoms, as well as to prevent complications like heart failure.
Global Aortic Valve Replacement Market Trends:
One of the primary factors driving the market is the rising prevalence of aortic valve diseases such as aortic stenosis and regurgitation. Additionally, with the aging population and increasing risk factors such as hypertension, smoking, and obesity, aortic valve replacement is gaining popularity. Other than this, the increasing adoption of transcatheter aortic valve replacement (TAVR) procedures is positively influencing the market growth as TAVR is a minimally invasive surgical procedure that replaces the aortic valve without open-heart surgery, often preferred by patients who are at high risk for traditional open-heart surgery. Besides this, the improving healthcare infrastructure and increasing access to advanced medical technologies, especially in developing countries, are propelling the market growth. In line with this, the increasing availability of skilled healthcare professionals and favorable reimbursement policies for aortic valve replacement procedures are other major growth-inducing factors. Moreover, extensive research and development (R&D) activities by key players to introduce more advanced and effective aortic valve replacement procedures are creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 17.7 Billion by 2028, expanding at a CAGR of 11.68% during the forecast period (2023-2028).
- On the basis of the surgery, the market has been bifurcated into open and minimally invasive surgeries.
- Based on the product, the market has been divided into transcatheter aortic valve, sutureless valve and others.
- On the basis of the end use, the market has been segregated into hospitals, ambulatory surgery centers, and others.
- Region-wise, the market has been classified into North America (the United states and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being 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, and Thubrikar Aortic Valve Inc.
|Base Year of the Analysis
||Surgery, Product, End Use, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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 and Thubrikar Aortic Valve Inc.
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