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Global Cardiac Valve Market Size, Demand, Forecast To 2031
(MENAFN- Straits Research)
The cardiac valve, a crucial component of the cardiovascular system, plays a critical role in maintaining optimal blood flow dynamics within the heart chambers. The specialized aperture is a highly intricate regulatory mechanism that plays a crucial role in facilitating precise blood flow management. When the natural heart valve is compromised or damaged, it becomes necessary to perform a cardiac valve replacement procedure to restore the heart's normal physiological function. The implanted device operates as a unidirectional valve, exhibiting intricate design characteristics that effectively regulate the direction of blood flow and maintain optimal pressure.
Market Dynamics
Rising Geriatric Population Drives the Global Market
The increasing incidence of cardiovascular conditions, such as valvular disorders and coronary artery disease, has amplified the demand for cardiac valve replacements. Implants of this nature are of utmost importance in restoring optimal cardiac function and improving patient outcomes. Similarly, there is a discernible increase in the global population of elderly individuals, rendering them increasingly vulnerable to cardiovascular ailments. The demand for cardiac valves is rising due to a growing number of elderly individuals seeking effective therapeutic alternatives for cardiovascular conditions. This transition has substantially influenced propelling the market in a progressive direction.
Growing Awareness of Disease Diagnosis among People Creates Tremendous
Individuals are increasingly aware of the importance of disease detection and access to medical care. This trend is expected to significantly influence the healthcare industry, leading to new opportunities for growth and development. The growing recognition and comprehension among individuals pertaining to their health have significantly increased their involvement with medical interventions and therapies. Therefore, this phenomenon has resulted in a substantial increase in the demand observed in medicine. The expanding demographic of patients offers significant prospects for diverse healthcare sectors, such as the cardiac valve market, to broaden their scope and meet the rising demands for healthcare services.
Regional Analysis
North America is the most significant global cardiac valve market shareholder and is predicted to grow at a significant rate during the forecast period. In 2022, the North America Cardiac Valve Market exhibited prominence by attaining the largest market share of 45.50%. The accomplishment can be attributed to various factors, including the progress in medical knowledge, the introduction of innovative and groundbreaking cardiac valve solutions, and the establishment of regulatory frameworks that enable the production and maintenance of heart valve devices. These elements have collectively played a significant role in facilitating success, each making a distinct contribution.
Additionally, it is crucial to emphasize that the increasing incidence of lifestyle-related ailments, such as diabetes and obesity, has significantly contributed to the expansion of the market within the specified geographic region. The subject under discussion necessitates meticulous examination. The noteworthy aspect that merits emphasis is the United States' dominant position in the North American cardiac valve market, as evidenced by its substantial market share. The available data indicates that the United States occupies a prominent position within the sector. In contrast, the Canadian Cardiac Valve market demonstrated the most substantial growth rate, indicating a favorable trajectory for potential market expansion in the future.
Key Highlights
The global cardiac valve market was valued at USD 7.18 billion in 2022. It is estimated to reach USD 11.32 billion by 2031, growing at a CAGR of 6.4% during the forecast period (2023–2031).
Based on the treatment, the global cardiac valve market is divided into cardiac wall repair, cardiac wall replacement, and others.
The cardiac wall repair segment is the highest contributor to the market share and is expected to grow significantly during the forecast period.
Based on the type, the global cardiac valve market is divided into mechanical valves, tissue/bioprosthetic valves, transcatheter heart valves/percutaneous heart valves, and others. The tissue/bioprosthetic valves segment owns the largest market share and is anticipated to grow significantly during the forecast period.
Based on the valve position, the global cardiac valve market is divided into mitral valve, aortic valve, and other positions. The mitral valve segment dominates the global market and is predicted to grow substantially over the forecast period.
Based on the end-user, the global cardiac valve market is divided into hospitals and clinics, specialty centers, cardiac research institutes, and others. The hospital and clinics segment owns the largest market and is predicted to grow substantially during the forecast period.
North America is the most significant global cardiac valve market shareholder and is predicted to grow at a significant rate during the forecast period.
Competitive Players
The key players in the Global Cardiac Valve Market are Medtronic, Edwards Lifesciences Corporation, Boston Scientific Corporation, LivaNova PLC, Abbott, CryoLife, Inc, On-X Life Technologies, Inc., Colibri Heart Valve, JenaValve Technology, Inc., and TTK HealthCare.
Market News
In December 2022, Abbott Launched its latest-generation transcatheter aortic valve implantation (TAVI) system, Navitor, making the minimally invasive device available for people in India with severe aortic stenosis who are at high or extreme surgical risk.
Global Cardiac Valve Market: Segmentation
By Treatment
Cardiac Wall Repair
Cardiac Wall Replacement
Others
By Type
Mechanical Valves
Tissue/Bioprosthetic Valves
Transcatheter Heart Valves/Percutaneous Heart Valves
Others
By Position
Mitral Valve
Aortic Valve
Other Position
By End-User
Hospital and Clinics
Specialty Centers
Cardiac Research Institute
Others
By Regions
North America
Europe
Asia-Pacific
LAMEA
Market Dynamics
Rising Geriatric Population Drives the Global Market
The increasing incidence of cardiovascular conditions, such as valvular disorders and coronary artery disease, has amplified the demand for cardiac valve replacements. Implants of this nature are of utmost importance in restoring optimal cardiac function and improving patient outcomes. Similarly, there is a discernible increase in the global population of elderly individuals, rendering them increasingly vulnerable to cardiovascular ailments. The demand for cardiac valves is rising due to a growing number of elderly individuals seeking effective therapeutic alternatives for cardiovascular conditions. This transition has substantially influenced propelling the market in a progressive direction.
Growing Awareness of Disease Diagnosis among People Creates Tremendous
Individuals are increasingly aware of the importance of disease detection and access to medical care. This trend is expected to significantly influence the healthcare industry, leading to new opportunities for growth and development. The growing recognition and comprehension among individuals pertaining to their health have significantly increased their involvement with medical interventions and therapies. Therefore, this phenomenon has resulted in a substantial increase in the demand observed in medicine. The expanding demographic of patients offers significant prospects for diverse healthcare sectors, such as the cardiac valve market, to broaden their scope and meet the rising demands for healthcare services.
Regional Analysis
North America is the most significant global cardiac valve market shareholder and is predicted to grow at a significant rate during the forecast period. In 2022, the North America Cardiac Valve Market exhibited prominence by attaining the largest market share of 45.50%. The accomplishment can be attributed to various factors, including the progress in medical knowledge, the introduction of innovative and groundbreaking cardiac valve solutions, and the establishment of regulatory frameworks that enable the production and maintenance of heart valve devices. These elements have collectively played a significant role in facilitating success, each making a distinct contribution.
Additionally, it is crucial to emphasize that the increasing incidence of lifestyle-related ailments, such as diabetes and obesity, has significantly contributed to the expansion of the market within the specified geographic region. The subject under discussion necessitates meticulous examination. The noteworthy aspect that merits emphasis is the United States' dominant position in the North American cardiac valve market, as evidenced by its substantial market share. The available data indicates that the United States occupies a prominent position within the sector. In contrast, the Canadian Cardiac Valve market demonstrated the most substantial growth rate, indicating a favorable trajectory for potential market expansion in the future.
Key Highlights
The global cardiac valve market was valued at USD 7.18 billion in 2022. It is estimated to reach USD 11.32 billion by 2031, growing at a CAGR of 6.4% during the forecast period (2023–2031).
Based on the treatment, the global cardiac valve market is divided into cardiac wall repair, cardiac wall replacement, and others.
The cardiac wall repair segment is the highest contributor to the market share and is expected to grow significantly during the forecast period.
Based on the type, the global cardiac valve market is divided into mechanical valves, tissue/bioprosthetic valves, transcatheter heart valves/percutaneous heart valves, and others. The tissue/bioprosthetic valves segment owns the largest market share and is anticipated to grow significantly during the forecast period.
Based on the valve position, the global cardiac valve market is divided into mitral valve, aortic valve, and other positions. The mitral valve segment dominates the global market and is predicted to grow substantially over the forecast period.
Based on the end-user, the global cardiac valve market is divided into hospitals and clinics, specialty centers, cardiac research institutes, and others. The hospital and clinics segment owns the largest market and is predicted to grow substantially during the forecast period.
North America is the most significant global cardiac valve market shareholder and is predicted to grow at a significant rate during the forecast period.
Competitive Players
The key players in the Global Cardiac Valve Market are Medtronic, Edwards Lifesciences Corporation, Boston Scientific Corporation, LivaNova PLC, Abbott, CryoLife, Inc, On-X Life Technologies, Inc., Colibri Heart Valve, JenaValve Technology, Inc., and TTK HealthCare.
Market News
In December 2022, Abbott Launched its latest-generation transcatheter aortic valve implantation (TAVI) system, Navitor, making the minimally invasive device available for people in India with severe aortic stenosis who are at high or extreme surgical risk.
Global Cardiac Valve Market: Segmentation
By Treatment
Cardiac Wall Repair
Cardiac Wall Replacement
Others
By Type
Mechanical Valves
Tissue/Bioprosthetic Valves
Transcatheter Heart Valves/Percutaneous Heart Valves
Others
By Position
Mitral Valve
Aortic Valve
Other Position
By End-User
Hospital and Clinics
Specialty Centers
Cardiac Research Institute
Others
By Regions
North America
Europe
Asia-Pacific
LAMEA
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