The global Aortic Valve Replacement market size is estimated to grow at a CAGR of 10.2% during the forecast period 2019–2025. The market is projected to grow from $5.74Bn in 2018 to $12.46Bn by 2025. Aortic Valve replacement is a surgical operation done to replace and restore a faulty heart valve. Patients suffering from aortic valve stenosis, a condition that affects coronary arteries, usually undergo this procedure to replace a valve which might restrict blood flow into the patient’s heart.
- In the coming years, growing interest in Aortic Valve Replacement is due to the rising prevalence of cardiovascular diseases among the general public.
- The product launch was a key sustainability strategy adopted by the market players to ensure the growth of Aortic Valve Replacement market.
- Europe region dominated the Aortic Valve Replacement Market during the forecast period.
Product - Segment Analysis
2018, Tissue/biological-based valve type dominated the Aortic Valve Replacement
Market. Tissue based artificial heart valve are basically biological valves
made from pig heart-valves or cow heart-sac tissue. In terms of Suture type,
sutureless valves are projected to show a significant growth during the
Procedure - Segment Analysis
2018, Minimally Invasive Surgery (MIS) segment dominated the Aortic Valve
Replacement Market in terms of revenue. It is forecast to grow at a CAGR of 9.48%
during the period under consideration. MIS surgery procedure is vastly opted as
it limits the size and number of cuts or incisions, leading to less risks of
End User - Segment Analysis
Hospital segment dominated the Aortic Valve Replacement market in 2018. The
dominance of hospital sector is due to the highly advanced medical technologies
and equipment used. The growing initiative of hospitals to provide latest
procedures and services to public aids the growth of the Aortic Valve
Geography - Segment Analysis
In 2018, Europe region
occupied 46% of the global Aortic Valve Replacement market in terms of revenue.
According to a journal published by the European Heart Journal, Aortic stenosis
is the most common primary valve disease leading to surgery or catheter
intervention in Europe and North America, with a growing prevalence due to the
Drivers – Aortic Valve Replacement Market
- Rising Prevalence of Cardiovascular Diseases
According to WHO, Cardiovascular
diseases were responsible for an estimated 17.8Mn deaths in 2017. Strokes,
heart attacks, congestive heart failure and other conditions are often an
outcome of a blocked valve. Aortic valve replacement using tissue valves are procedures
done to replace the damaged valve with another prosthetic valve.
- Favorable reimbursement scenario
The expenditure of people on
healthcare and the prevalence of various kind of diseases are increasing. This
leads public to have very little disposable income. Thus, government policies
have been put into place to aid public by covering a portion of their
healthcare expenses. For example Medicare and Medicaid are initiatives by the
US government to help medical costs for some people with limited income and
Challenges – Aortic Valve Replacement Market
Stringent Regulatory Norms
government regulations for approval of transcatheter aortic valve, the risk associated
with the procedure hinders the growth of the market. Certain products have
failed the tests due to incompetent results after clinical trials.
Aortic Valve Replacement Industry Outlook
Product Launches along is
the key strategy of the players in the Aortic Valve Replacement market. In
2018, Aortic Valve replacement market share is consolidated by the key players
present in the aortic valve replacement industry. cThe Aortic Valve Replacement
top 10 companies include Venus Medtech Inc, Medtronic Plc, LivaNova PLC,
LifeNet Health, Jenavalve Technology Inc, Edwards Lifesciences Corporation,
CryoLife Inc, Bracco Spa, Boston Scientific Corp and Abbott Laboratories.
Aortic Valve Replacement Market Research
The base year of
the study is 2018, with forecast done up to 2025. The study presents a thorough
analysis of the competitive landscape, taking into account the market shares of
the leading companies. These provide the key market participants with the
necessary business intelligence and help them understand the future of the Aortic
Valve Replacement industry. The assessment includes the forecast, an overview
of the competitive structure, the aortic valve replacement market share of the
competitors, aortic valve replacement market size, as well as the market
trends, market demands, market drivers, market challenges, and product/service
analysis. The market drivers and restraints have been assessed to fathom their
impact over the forecast period. This report further identifies the key
opportunities for growth while also detailing the key challenges and possible
threats. The key areas of focus include product, procedure, end-user and