Heart Valve Devices Market Trend, Size Analysis, and Forecast 2032

Heart Valve Devices Market Size

According to a report from Zion Market Research, the global Heart Valve Devices Market was valued at USD 12.43 Billion in 2023 and is projected to hit USD 37.27 Billion by 2032, with a compound annual growth rate (CAGR) of 12.98% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Heart Valve Devices Market industry over the next decade.

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Heart Valve Devices Market: Overview

Heart valve disease occurs when one or more heart valves fail to open and close properly. This can affect the ability of the heart to pump blood. To prevent and cure the diseased heart valve devices are used. Heart valve disease can be congenital or occur later in life due to age-related changes, heart attacks, and infections, among others.

More than 5 million people in the United States are diagnosed with heart valve disease each year. Almost all of these surgeries are done to repair or replace the valves. These valves are replaced with the prosthetic valve to treat any diseased valve that cannot be repaired.

The key players in the market are focusing on investing in R&D in order to launch new technologies for making heart valve procedures safer and more effective in the market. For instance, in September 2018, LivaNova—a medical technology firm—introduced the international pivotal study for determining the application of autonomic regulation treatment for heart failure. Reportedly, the firm entrenched the Vitaria system in a patient during the autonomic regulation treatment to improve myocardial functioning and minimize the cases of the progress of heart failures in patients with reduced ejection fraction.

COVID-19 Impact Analysis:   

Due to government-imposed lockdowns to prevent the spreading of COVID, the global Heart Valve Devices industry has seen a small decline in revenues in the short. As healthcare professionals increasingly direct their resources towards caring for coronavirus-infected patients, other health issues are being relegated to the back seat. The players in the industry have temporarily suspended the production of heart valves device in order to cater to coronavirus patients.

The significant decrease in the global Heart Valve Devices market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Heart Valve Devices Market: Growth Factors

The inactive lifestyle of the global population leading to a rise in the proportion of obesity among individuals is expected to propel the growth of the heart valve devices market in the years ahead. Apart from this, mammoth demand for minimally invasive procedures as a result of an increase in cardiac & pathological disorders along with persistent product innovations are a few of the key growth drivers of the heart valve devices market.

Complicated regulatory procedures and high costs of procedures &devices, however, are predicted to restrict the growth of the heart valve devices market in the upcoming years. Nevertheless, heart valve ailments can cause heart failure, blood clots, stroke, and death of patients and hence requires effective handling of the heart valve disease. This is anticipated to boost heart valve devices market demand in the next few years, thereby normalizing the impact of hindrances on the heart valve devices market.

Heart Valve Devices Market: Segmentation

On the basis of Procedure, the Heart Valve Devices market has been divided into Heart Valve Replacement Devices and Heart Valve Repair Devices. The heart Valve repair devices segment held the major share in the market. This is attributed to new and innovative products being launched in the market. Moreover, factors such as the high cost of devices and surgeries, complex regulatory procedures, and varied stringency of regulatory procedures may hinder the growth of the market to some extent.

On the basis of End Users, the market is segmented into Hospital and Ambulatory Surgical Centers. Hospitals dominated the Heart Valve Devices industry in 2020, accounting for almost 56.2% of total Heart Valve Devices sales.

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Heart Valve Devices Market: Report Scope

Heart Valve Devices Market: Regional Analysis 

Regionally, North America has been leading the worldwide heart valve devices market and is anticipated to continue in the dominant position in the years to come, states the heart valve devices market study. Massive application of technologically superior products and growing incidences of heart diseases in the region is the main factor behind the dominance of the North American heart valve devices market. The presence of market players such as Boston Scientific Corporation, Abbott Laboratories, and Medtronic Incorporation in the countries such as the U.S. in North America is another significant factor that is supporting the growth of this regional heart valve devices market.

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Heart Valve Devices Market: Competitive Players

The major players operating Heart Valve Devices market are:

• Abbott
• Medtronic
• CryoLife Inc.
• Boston Scientific Corporation
• Micro Interventional Devices Inc.
• Neovasc Inc.
• Edward Lifesciences Corporation
• Sorin Group
• TTK HealthCare
• JenaValve Technology Inc.
• Lepu Medical Technology Co.Ltd.    

 The global Heart Valve Devices Market is segmented as follows:

By Procedure

• Heart Valve Replacement Devices
  • Mechanical Valve
  • Bioprosthetic Valve
  • TAVR & Position (Mitral Valve, Aortic Valve, Other)
• Heart Valve Repair Devices
  • Surgical Valve
  • Balloon Valvuloplasty Devices,
  • TMVR

By End User  

• Hospital  
• Ambulatory Surgical Centers

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa