IMARC Group, a leading market research company, has recently releases report titled “Aortic Valve Replacement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” The global aortic valve replacement market size reached US$ 10.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 25.0 Billion by 2032, exhibiting a growth rate (CAGR) of 10.1% during 2024-2032.
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Factors Affecting the Growth of the Aortic Valve Replacement Industry:
- Technological Advancements in Surgical Techniques:
Innovations in surgical techniques, such as minimally invasive (MI) and transcatheter, are supporting the market growth. These techniques offer less invasive alternatives to traditional open-heart surgery, reducing recovery times and risks. These innovations expand treatment options for patients. Moreover, improved precision and outcomes associated with these techniques enhance patient satisfaction and clinical efficacy. Furthermore, healthcare providers are increasingly adopting these state-of-the-art approaches due to their proven benefits. Besides this, the rising focus on enhanced patient outcomes is contributing to the market growth.
- Rising Demand for Transcatheter Aortic Valve Replacement (TAVR) Procedures:
Transcatheter aortic valve replacement (TAVR) is particularly beneficial for high-risk or elderly patients. It has an MI nature and favorable outcomes as compared to traditional surgery. Increasing preferences for TAVR procedures due to its shorter recovery times, reduced hospital stays, and lower complication rates is bolstering the market growth. Besides this, healthcare providers and patients are utilizing TAVR as a safer and more effective alternative, which is propelling the market growth. Furthermore, continuous technological advancements and expanding indications for TAVR further bolster the demand for aortic valve treatment solutions.
- Increasing Healthcare Expenditure:
The rising focus on aortic valve replacement due to improved healthcare expenditure is propelling the market growth. Patients are gaining greater access to advanced treatment options, including aortic valve replacement procedures on account of access to advanced healthcare facilities. Moreover, financial support enables healthcare providers to invest in cutting-edge technologies and infrastructure, facilitating the delivery of high-quality care. Besides this, increased healthcare spending enhances patient affordability and access to aortic valve replacement treatments. Robust healthcare expenditure also fosters research and development (R&D) efforts, leading to continuous innovation in aortic valve replacement therapies.
Leading Companies Operating in the Global Aortic Valve Replacement Industry:
- Abbott Laboratories
- Anteris Technologies Ltd.
- Boston Scientific Corporation
- Coroneo Inc.
- CryoLife Inc.
- Edward Lifesciences Corporation
- JenaValve Technology Inc.
- LifeNet Health Inc.
- LivaNova PLC
- Medtronic plc
- Thubrikar Aortic Valve Inc
Aortic Valve Replacement Market Report Segmentation:
By Surgery:
- Open Surgery
- Minimally Invasive Surgery
Minimally invasive surgery represents the largest segment as it offers advantages over traditional open-heart surgery, including smaller incisions, reduced trauma to surrounding tissues, and shorter recovery times.
By Product:
- Transcatheter Aortic Valve
- Sutureless Valve
- Others
Transcatheter aortic valve holds the biggest market share due to its less invasive nature.
By End Use:
- Hospitals
- Ambulatory Surgery Centers
- Others
Hospitals account for the largest market share, driven by centralized healthcare delivery.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America enjoys a leading position in the aortic valve replacement market on account of the presence of highly developed healthcare infrastructure, including state-of-the-art hospitals, specialized cardiovascular centers, and advanced medical technologies.
Global Aortic Valve Replacement Market Trends:
The rising awareness about heart valve diseases and treatment options is impelling the market growth. Public education initiatives, coupled with improved patient awareness, encourage early detection and timely intervention for aortic valve disorders. Individuals are becoming more informed about the symptoms and consequences of aortic valve diseases and seeking enhanced medical advice. Moreover, healthcare professionals are focusing on identifying at-risk patients, recommending appropriate interventions, and improving patient outcomes.
The aging population is more prone to age-related cardiovascular conditions, including aortic valve diseases, which is catalyzing the demand for aortic valve replacement.
Other Key Points Covered in the Report:
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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