(MENAFN- GlobeNewsWire - Nasdaq) Wilmington, Delaware, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Global Aortic Valve Replacement Devices Market was valued at US$ 7.3 billion in 2023 and is expected to grow at a significant CAGR of over 9.5% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market Scope, and Report Overview4
Aortic valve replacement devices are medical devices used to replace a damaged or diseased aortic valve in the human heart. The aortic valve is one of the four valves in the heart, responsible for allowing oxygenated blood to flow from the left ventricle into the aorta and out to the rest of the body. When the aortic valve is impaired due to conditions like aortic stenosis (narrowing) or aortic regurgitation (leakage), it can lead to serious health problems.
The global population is aging, leading to a higher prevalence of heart-related conditions, including aortic valve disease. As people age, the risk of aortic valve deterioration increases, driving the demand for replacement devices. Ongoing clinical trials and research efforts are aimed at enhancing the safety and efficacy of aortic valve replacement devices, attracting investments, and driving innovation in the field.
According to a deep-dive market assessment by RationalStat, the global aortic valve replacement devices market has been analyzed on the basis of market segments, including surgery, product, end user and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific) . The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030. Market intelligence for the global aortic valve replacement devices market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc. In addition, the long-term sector and products/services 10-year outlook and its implications on the global aortic valve replacement devices market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Aortic Valve Replacement Devices Market: Segmental and Market Share Analysis
On the basis of surgery, the minimally invasive surgery category accounted for 55% of total revenue. Due to rising TAVR demand and the introduction of new products, this category is expected to maintain its dominance during the forecast period. On the basis of product, in 2022, the transcatheter aortic valve segment dominated the market with a 52% revenue share. Because of the growing trend for minimally invasive surgeries and the expansion of research activities. On the basis of end user, the hospital segment led the market in terms of revenue, accounting for 42% of the total. The fundamental reason for the segment's dominance is the enormous number of patients served by hospitals.
| Report Metrics || Details |
| Base Year || 2022 |
| Forecast Period || 2023-2030 |
| Base Year Market Size || US$ 7.3 billion |
| Market Size Forecast || US$ 15.1 billion |
| Growth Rate || 9.5% |
| Key Market Drivers || |
Rise in the prevalence of aortic valve stenosis Advances in medical technology Government initiatives to improve healthcare infrastructure Growth in the adoption of Minimally Invasive Surgeries
| Companies Profiled || |
Boston Scientific Corporation Cryolife, Inc. Edward Lifesciences Corporation LivaNova PLC. (Sorin Group) Medtronic St. Jude Medical (Abbott) Symetis SA JenaValve Technolgoy, Inc. Micro Interventional Devices Braile Biomedica
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global aortic valve replacement devices market include,
In January 2023, The Navitor transcatheter aortic valve implantation (TAVI) system was approved by the FDA to treat persons with severe aortic stenosis who are at high risk of open-heart surgery. In September 2022, Medtronic announced the extension of their newest generation, self-expanding TAVR system, the Evolut FX TAVR system, in the US. Evolut FX brought new features to the existing Evolut platform to improve the simplicity of use and predictability of valve deployment for physicians.
Some of the prominent players and suppliers operating and contributing significantly to the global aortic valve replacement devices market growth include Boston Scientific Corporation, Cryolife, Inc., Edward Lifesciences Corporation, LivaNova PLC. (Sorin Group), Medtronic, St. Jude Medical (Abbott), Symetis SA, JenaValve Technolgoy, Inc., Micro Interventional Devices, and Braile Biomedica, among others.
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RationalStat has segmented the global aortic valve replacement devices market based on surgery, product, end user and region
Global Aortic Valve Replacement Devices Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Surgery
Open Surgery Minimally Invasive Surgery Global Aortic Valve Replacement Devices Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Product
Transcatheter Aortic Valve Sutureless Valve Others Global Aortic Valve Replacement Devices Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User
Hospitals Ambulatory Surgery Centers Others Global Aortic Valve Replacement Devices Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
North America Aortic Valve Replacement Devices Market Latin America Aortic Valve Replacement Devices Market
Brazil Mexico Rest of Latin America Western Europe Aortic Valve Replacement Devices Market
Germany UK France Spain Italy Benelux Nordic Rest of Western Europe Eastern Europe Aortic Valve Replacement Devices Market
Russia Poland Hungary Other CIS Countries Rest of Eastern Europe Asia Pacific Aortic Valve Replacement Devices Market
China Japan India South Korea Australia ASEAN Middle East & Africa Aortic Valve Replacement Devices Market
Indonesia Thailand Philippines Vietnam Malaysia Rest of ASEAN Rest of Asia Pacific
Saudi Arabia (KSA) United Arab Emirates (UAE) Rest of the GCC South Africa Nigeria Turkey Rest of the Middle East & Africa
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Key Questions Answered in the Aortic Valve Replacement Devices Report:
What will be the market value of the global aortic valve replacement devices market by 2030? What is the market size of the global aortic valve replacement devices market? What are the market drivers of the global aortic valve replacement devices market? What are the key trends in the global aortic valve replacement devices market? Which is the leading region in the global aortic valve replacement devices market? What are the major companies operating in the global aortic valve replacement devices market? What are the market shares by key segments in the global aortic valve replacement devices market?
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RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
Defining the problem by understanding the type of market and data required by the client. Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews. Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance. Evaluating and analyzing the data by referring to data sources utilized and leveraged. Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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