Authored By: Sarah
11 Jul 2024

 Heart Valve Repair And Replacement Devices Market Size to grow by USD 2580.7 million between 2024-2028

According to a research report “ Heart Valve Repair And Replacement Devices Market” by Product (Heart valve replacement devices, Heart valve repair devices) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2580.7 million, at a CAGR of  7.08% during the forecast period. In the heart valve repair and replacement devices market, several companies are focusing on the development of innovative transcatheter valves. Notably, Medtronic's CoreValve and Edwards Lifesciences' Sapien and Sapien XT have gained global acceptance. However, various device manufacturers have secured regulatory clearance in Europe and are undergoing clinical trials to obtain FDA approval. One such device, Boston Scientific's Lotus Valve System, has already received CE markings. The introduction of these advanced devices is anticipated to intensify competition in the market, thereby propelling its growth during the forecast period.

Browse market data tables, figures, and in-depth TOC on “Heart Valve Repair And Replacement Devices Market” by Product (Heart valve replacement devices, Heart valve repair devices) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample

 

By Product, the Heart valve replacement devices segment is projected to dominate the market size in 2024

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By Geography, North America  segment is expected to hold the largest market size for the year 2024

In the medical device industry, heart valve replacement solutions are essential for addressing damaged heart valves. These devices are categorized into mechanical, transcatheter, and tissue/bioprosthetic valves, based on the type of valve being replaced. Mechanical heart valves, manufactured from synthetic materials like plastic, carbon, or metal, offer durability and longevity, typically lasting up to 25 years. Ideal for individuals under 65 with valve stenosis, regurgitation, and a history of atrial fibrillation, mechanical valves come with the requirement for lifelong anticoagulation due to the risk of blood cell adhesion and clot formation. Despite this, they are resistant to structural valve degeneration and can be efficiently implanted in patients with smaller heart sizes.

North America is forecasted to hold the largest market size by region in 2024

The Heart Valve Repair and Replacement Devices market encompasses innovative technologies and solutions designed to address heart valve disorders. Key players in this sector offer a range of products, including transcatheter heart valves, surgical heart valves, and repair devices. These solutions cater to the growing demand for less invasive procedures and improved patient outcomes. Market growth is driven by an aging population, rising prevalence of cardiovascular diseases, and advancements in technology.

The Heart Valve Repair And Replacement Devices Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Abbott Laboratories
  • Artivion Inc.
  • BioStable Science and Engineering Inc.
  • Boston Scientific Corp.
  • Colibri Heart Valve LLC
  • Edwards Lifesciences Corp.
  • JenaValve Technology Inc.
  • LivaNova PLC
  • Medtronic Plc
  • Micro Interventional Devices Inc.
  • Neovasc Inc.
  • Valcare Medical
  • Xeltis AG
.

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Research Analysis Overview

The Heart Valve Repair and Replacement Devices market encompasses innovative technologies designed to address various heart valve conditions, including stenosis, regurgitation, damage from heart diseases like heart attacks, infections, age-related changes, congenital heart defects, and calcific degeneration. Heart valve repair and replacement are crucial interventions for treating these conditions, with repair being the preferred option when possible due to its lower risk and cost. The market is subject to stringent regulatory procedures, ensuring the safety and efficacy of these devices. Companies like Medtronic, through acquisitions of Valtech Cardio and CoreValve, have expanded their portfolios to include Transcatheter Aortic Valve Implantation (TAVI) and Transcatheter Mitral Valve Repair (TMVR) systems, which offer minimally invasive alternatives to open-heart surgery. However, the high cost of these advanced technologies and the need for continuous innovation to address diverse patient needs pose challenges to market growth. Lifestyle changes and medicines remain essential components of heart health management, complementing the role of these devices in treating heart valve conditions. Regulatory agencies, such as the FDA, play a critical role in approving these devices, ensuring they meet the highest safety and efficacy standards. As the prevalence of cardiovascular diseases continues to rise, the demand for heart valve repair and replacement devices is expected to grow.

Market Research Overview

The Heart Valve Repair and Replacement Devices market is witnessing significant growth due to the increasing prevalence of cardiovascular diseases, congenital heart defects, and diagnostic technologies. Companies like Edwards Lifesciences and Medtronic are leading players in this industry, offering a range of products including percutaneous heart valves, transcatheter heart valves, bioprosthetic valves, and mechanical valves. Industry growth drivers include the aging population, increasing prevalence of heart valve diseases such as stenosis and regurgitation, and the stringency of regulatory procedures. Transcatheter heart valve procedures, including Transcatheter Aortic Valve Implantation (TAVI) and Transcatheter Aortic Valve Replacement (TAVR), are gaining popularity due to their minimally invasive nature and ability to treat diseased valves without open-heart surgery. Bioprosthetic valves, made from tissue, and mechanical valves, made from synthetic materials, each have their advantages and disadvantages. Biological valves are less prone to blood clots but may deteriorate over time, while mechanical valves are more durable but require lifelong anticoagulation therapy. The high cost of heart valve replacement and repair procedures, as well as the risk of complications such as stroke, death, and infection, are major challenges for the industry. However, advancements in technology, such as Transcatheter Mitral Valve Replacement (TMVR), and lifestyle changes, medicines, and surgical procedures, offer potential solutions for treating heart valve diseases. Regulatory approvals, acquisitions, and partnerships are key strategies for market players to expand their offerings and stay competitive. For instance, Edwards Lifesciences' acquisition of Valtech Cardio in 2020 strengthened its transcatheter heart valve portfolio, while Medtronic's FDA approval of its TAVR system in 2016 expanded its market presence. Heart valve diseases can result from various causes, including age-related changes, calcific degeneration, infections, and damage from heart attacks. Symptoms include heart failure, chest pain, shortness of breath, and irregular heartbeats. Treatment options include lifestyle changes, medicines, and surgical procedures. In summary, the Heart Valve Repair and Replacement Devices market is poised for growth due to the increasing prevalence of heart valve diseases and advancements in technology. Companies are focusing on developing minimally invasive procedures and expanding their product offerings to cater to the diverse needs of patients. However, challenges such as high costs and regulatory procedures remain key challenges for the industry.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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