Prosthetic Heart Valves Market

Global Prosthetic Heart Valves Market Size (2024 to 2032)

The global prosthetic heart valves market size is predicted to be worth USD 20.71 billion by 2032 from USD 7.85 billion in 2024, growing at a CAGR of 12.90% during the forecast period.

Current Scenario of the Global Prosthetic Heart Valves Market

The heart plays a vital role in the proper functioning of the human body by controlling blood flow. There are four main types of valves in the heart tricuspid, pulmonary, mitral, and aortic valves. A prosthetic heart valve is a device implanted in a patient suffering from valve failures in the heart or other heart diseases, which puts the patient at risk of heart failure. They are implanted both as a pre-emptive treatment and a reactive treatment. The valves in the heart are integral to the normal functioning of the human body. They are evolved to perform tasks such as controlling the unidirectional flow of blood through the valve structure. Artificial valves must be designed to perform these tasks and be accepted by the body after transplantation. Tissue valves are generally preferred over mechanical valves because the latter requires additional anticoagulant administration for the proper functioning of the valve. The requirement is lifelong, whereas the tissue valve has no such needed further treatment.

The demand for prosthetic heart valves has been continuously growing over the last few years. The growing patient population with cardiovascular diseases and the increasing number of advancements in medical technologies are supporting this trend. The global market for prosthetic heart valves market is anticipated to witness promising growth during the forecast period. Y-o-Y growth in the aging population worldwide and rising awareness among people regarding cardiovascular health are likely to continue the growing demand for prosthetic heart valves worldwide. At present, the usage of prosthetic heart valves is high in countries such as the United States, Germany, Japan, and China. Companies that operate in prosthetic heart valves have been employing strategies such as product innovation, strategic collaborations and partnerships with healthcare providers and research institutions, and marketing and educational initiatives to raise awareness to strengthen their position and gain a competitive edge.

MARKET DRIVERS

The growing aging population is propelling the prosthetic heart valves market growth.

The risk of cardiovascular diseases, particularly heart valve diseases, considerably increases with the growing age. The aging population is aggressively increasing in all parts of the world. For instance, as per the projections of the World Health Organization, the number of people aged 60 years and more was around 900 million in 2015, and this number is anticipated to be 2 billion by 2050. The Administration on Aging (AoA) predicts that by 2060, individuals aged 65 and over will grow to 98 million. Prosthetic heart valves are considered a prominent treatment option for elderly patients with valvular heart disease and are most preferred. The growth in the aging population is likely to result in an increase in the patient population of heart valve disorders and contribute to the growth of the global market.

The rising prevalence of CVDs worldwide is another key factor boosting the prosthetic heart valves market growth.

Cardiovascular diseases such as heart failure, coronary artery disease, and valvular heart disease are some of the major causes of most deaths worldwide. Factors such as sedentary lifestyles, poor dietary habits and aging populations are majorly contributing to the increasing prevalence of cardiovascular diseases and resulting in the increased demand for prosthetic heart valves to treat various valve-related conditions. The American Heart Association projects an estimated 7.9% of Americans have heart valve disease who have age of 20 years and above. The prevalence and the patient population of cardiovascular diseases are likely to increase further in the coming years and will drive the demand for prosthetic heart valves.

Technological advancements and growing global healthcare spending are further anticipated to support the prosthetic heart valves market growth.

The increasing population and the consequent rise in VHD prevalence are expected to drive the prosthetic heart valves growth in the United States. Besides, increased spending on healthcare will also allow the sector to expand. The Centre for Medicare & Medicaid Services (CMS) projects health spending in the U.S. to grow at an average rate of 5.5% per year, eventually reaching nearly US$ 6.0 trillion by 2027. Factors like advanced technologies for introducing new creative products, increasing demand for minimum tend to spread very quick surgeries, rise in the incidence of heart valve disorders, and creating opportunities for the global prosthetic heart valve market growth. The surge in massive collaborations and developments, an increase in several collaborations and partnerships, and the launch of products are some of the worldwide market trends.

The significant opportunity for growth in the global prosthetic heart valves market is transcatheter heart valves for new signs or indications. The survival rate is high for valve replacement among older adults suffering from valvular heart diseases, which leads to increasing demand for advanced prosthetic mitral valve implantation devices, which offers lucrative growth opportunities in the market.

MARKET RESTRAINTS

Despite the numerous advantages, the prosthetic heart valve market remains in check by restraints such as the high costs of the valve and the treatment itself and the rigorous approval process for prosthetic valves before they are introduced into the global prosthetic heart valves market. Limited availability and accessibility of prosthetic heart valves in certain regions, increasing awareness among the patient population regarding the risks associated with such surgical procedures and lack of skilled surgeons for implantation are further impeding the growth of the global market. Complications associated with the usage of prosthetic heart valves, such as infection and thrombosis, challenges in the durability and longevity of implants, and rising preference for alternative treatment options, are also hindering the growth of the global market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Prosthetic Heart Valves Market Analysis By Product

The tissue heart valve segment dominated that market, accounting for 40.7% of the global market share in 2023 and is predicted to be the fastest-growing segment in the global market during the forecast period. The preference for bioprosthetic valves among younger patients is considerably increasing, which is one of the factors driving the expansion of the tissue heart valve segment. Tissue heart valves are also mostly preferred for patients who are at higher risk of anticoagulation-related complications. The growing usage of tissue heart valves in patients requiring valve replacement due to conditions such as degenerative valve disease and infective endocarditis is propelling the segmental growth in the global market. The rising trend towards minimally invasive cardiac surgery is also fueling the demand for transcatheter tissue heart valves as these offer benefits such as reduced surgical trauma and faster recovery times, which is a plus to the growth rate of the tissue heart valve segment.

The transcatheter heart valve segment is another lucrative segment and is projected to account for a substantial share of the worldwide market during the forecast period due to an increase in older people and the incidence of aortic stenosis, new device approvals, and an increase in adoption rate for transcatheter heart valve implantation procedure. The ongoing R&D efforts to expand the applications of transcatheter heart valves to mitral and tricuspid valve disease are further boosting the growth of the transcatheter heart valve segment.

REGIONAL ANALYSIS

The global prosthetic heart valves market was dominated by North America in 2023, with the region accounting for over a third of the overall market share. In North America, the United States market is predicted to account largest market share during the forecast period. The U.S. healthcare system has been burdened majorly by valvular heart disease (VHD). Approximately 5 million people are diagnosed annually, according to the American College of Cardiology. The number of aortic stenosis sufferers is 1.5 million worldwide, with almost 500,000 individuals suffering from severe aortic stenosis. Due to calcium build-ups and scarring of the valve cusp due to age, VHD primarily affects the elderly population. North America was followed next in line by Europe and Asia-Pacific. The North American region is dominant in the global prosthetic heart valve market, accounting for a 41.8% share in value, followed by Europe. Due to well-developed healthcare infrastructure, technological advancements, rising healthcare expenditure, a growing number of heart surgeries, and increasing government funding in the region.

Asia-Pacific is expected to grow rapidly in the coming years, as evidenced by the high CAGR value for the region. Asia-Pacific is an emerging market that is projected to develop at a rapid rate. As a result of improving health infrastructure and the rising incidence of chronic disease in the region, predicting the growth in the prosthetic valves market in the Asia Pacific is realistic. Factors driving the growth of the prosthetic heart valve market in the area are also rising demographics and emerging economies.

The growth opportunities in existing countries like Latin America and the Middle East & Africa and transcatheter heart valves for new indications are regarded to provide numerous opportunities for the global prosthetic heart valves market growth during the foreseen period.

KEY PLAYERS IN THE GLOBAL PROSTHETIC HEART VALVES MARKET

Some of the promising companies leading the global prosthetic heart valves market profiled in this report are Corvia Medical, CardioKinetix, Biomerics LLC, Lepu Medical Technology, XELTIS BV, Comed BV, HLT, Meril Life Sciences, SYMETIS SA, and Transcatheter Technologies GmbH.

Medtronic developed self-extended percutaneous bioprosthetics, such as the CoreValve Evolut R System and Medtronic CoreValve Evolut PRO System, each comprising an Aortic Valve Transcatheter (TAV), among other things. The TAV is an essential component, an artificial heart valve made of pig tissue made flexible and self-expanding by using a Nickel and Titanium composite structure for support.

DETAILED SEGMENTATION OF THE GLOBAL PROSTHETIC HEART VALVES MARKET INCLUDED IN THIS REPORT

This research report on the global prosthetic heart valves market has been segmented and sub-segmented based on product and region.

By Product

• Mechanical Heart Valve
• Tissue Heart Valve
• Stented Tissue Heart Valve
• Stentless Tissue Heart Valve
• Transcatheter Heart Valve

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa