Heart Valve Repair and Replacement Market Segmented By Heart Valve Repair, Heart Valve Replacement, Tissue Heart Valves, Transcatheter Aortic Valve Implantation Product with Aortic Stenosis, Aortic Regurgitation, Mitral Stenosis, Mitral Regurgitation Indication
Industry: Healthcare
Published Date: June-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 308
Report ID: PMRREP3192
The Global Heart Valve Repair Replacement Market value is projected to exceed US$ 12,621.4 million by the year 2028 at a significant CAGR of 10.4%. The heart valve makes sure that the blood flows appropriately. The growing incidences of heart disorders have increased the demand for replacement heart valves. Moreover, the increased preference for minimally invasive procedures along with the technological advancements is encouraging major manufacturers to deliver unique products to the market, which is favorably benefiting the market.
| Attribute | Key Insights |
|---|---|
|
Heart Valve Repair Replacement Market Size (2022) |
US$ 6,983.3 Mn |
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Projected Market Value (2028) |
US$ 12,621.4 Mn |
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Global Market Growth Rate (2022-2028) |
10.4% CAGR |
|
Share in parent market |
36.9% |
The Heart Valve Repair Replacement Market is likely to have a whopping CAGR of 10.4% over the forecast period. This is mostly due to the increased prevalence of cardiac diseases, which may adversely affect the patients' health and lead to life-threatening stroke or heart failure. Apart from that, technological advancements and improving healthcare systems, especially in developed countries is likely to fuel the market growth.
The rising prevalence of cardiac disorders is a major factor driving the growth of the heart valve repair and replacement market. The prevalence of cardiac disorders, particularly among the elderly, is rapidly growing, fueling the growth of the heart valve repair and replacement market. The rapidly expanding elderly population is a major driver to the heart valve repair and replacement market. Cardiovascular disorders such as rheumatic heart disease and aortic stenosis are the major cause of the increasing demand for heart valve repair and replacement globally.
The healthcare system is quickly transforming and several healthcare institutions are utilizing new and improved technologies to provide patients with better treatments, medications, and therapies. Several government efforts are heavily supporting these improvements. Various reimbursement policies and flexible insurance claims are benefitting the growth of the heart valve repair and replacement market and are likely to continue throughout the forecast period.
Data is important for properly developing and designing heart valves. Market players are designing the finest quality valves with the help of crucial hospital data. Manufacturers are developing smart and intelligent heat valves by implementing data-driven technologies such as IoT and artificial intelligence. The rapid adoption of data-driven technologies is projected to drive market growth in the coming years.
Heart valve replacement, being an invasive procedure, is linked with a significant risk of harm and is a primary factor restricting the cardiac valve market's growth. Excessive bleeding, arrhythmia, renal issues, stroke, heart failure, blood clots, infection, and other risks are involved with the heart replacement procedure. Although minimally invasive techniques are available with lower risk and problems, the cost of the operation is relatively expensive when compared to invasive surgery. These complications might have a major impact on the patient pool having surgery, impacting the market growth.
The Heart Valve Repair Replacement market is highly competitive and consists of significant players that dominate the market. Major players in the market are focusing on extensive research and developmental activities for expanding their product portfolios by launching new, technologically advanced products.
| Attribute | Details |
|---|---|
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Forecast Period |
2022-2028 |
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Historical Data Available for |
2013-2021 |
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Market Analysis |
US$ Mn/Bn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
By Indication |
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Key Companies Profiled |
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Customization & Pricing |
Available upon Request |
Heart Valve Repair Replacement Market by By Product
Heart Valve Repair Replacement Market By Indication
Heart Valve Repair Replacement Market By End User
Heart Valve Repair Replacement Market by Region
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In 2022, the Heart Valve Repair Replacement Market stands at USD 6,983.3 million, and it is expected to reach USD 12,621.4 million by 2028 at a CAGR of 10.4%.
Heart Valve Repair Replacement Market exhibited a 8.4% CAGR between 2013 and 2021.
Risk associated with heart valve replacement procedures is the key restraints in the Heart Valve Repair Replacement Market.
Increased prevalence of cardiac disorders and enhanced healthcare system are the key factors driving the growth of the market.
CryoLife Inc., LivaNova PLC, Colibri Heart Valve, and JenaValve Technology Inc, are among the top players in the market.
