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Global Heart Valve Management Products Market $12.5 Billion by 2027

The global market for heart valve management products anticipated to attain $12.5 billion by 2027, growing at CAGR 7.8% over the forecast period, driven by new device approvals, technological advancements, and rising geriatric population.

  • The heart valve repair and replacement devices market is driven by the growing numbers of valvular heart disease resulting from rising obesity rates and growing prevalence of diabetes worldwide.
    • Other growth drivers include an expanding aging population with cardiovascular disease and expected new approvals of TAVR systems. As a population ages, the incidence rate of heart disease tends to increase. 
Global Heart Valve Management Products Market

Heart valve repair involves surgical procedure to fix defects in heart valves in valvular heart diseases, and provides an alternative to valve replacement.

  • Transcatheter aortic valve implantation (TAVI) or transcatheter aortic valve replacement (TAVR) is a minimally invasive procedure to repair a damaged or diseased aortic valve.
  • Percutaneous aortic valve replacement (PAVR), or TAVI or TAVR involves replacement of the aortic valve of the heart through the blood vessels. The most common valve surgical procedure is aortic valve replacement for aortic stenosis, or narrowing of the aortic valve.
    • Minimally invasive heart valve surgery technique uses smaller incisions to repair or replace heart valves, which also reduces the length of the hospital stay and the recovery time.
      • More recently, transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve regurgitation therapy (TMVrep) has become a reality.
  • The COVID-19 pandemic had an impact on the disruption to surgical schedules leading to declined sales for many companies providing heart valve management products.
    • The impact of the delta variant of COVID-19 on procedure volumes remains a major concern for transcatheter valve makers. As a result, the global market for surgical heart valve management products declined during this period.
      • However, the market expected grow in the coming years, as surgeries that were once deferred are resumed, but typical market trends will be returned to in the following years. 
        • Data collected during the pandemic has shown that TAVR should not be regarded as an “elective” procedure, as the patients with aortic stenosis inevitably suffer adverse events and increased mortality.

The global market for heart valve management devices (repair and replacement) research report provides market size ($million 2017 to 2027), market share analysis, growth trends and forecast (CAGR%, 2021 to 2027).

The global heart valve repair and replacement devices market segmented by product [traditional invasive (surgical) products (percutaneous balloon valvuloplasty (PBV) systems, heart valve repair (annuloplasty) systems, heart valve replacement products), and emerging minimally invasive transcatheter products (transcatheter aortic valve replacement (TAVR), transcatheter mitral valve regurgitation therapy (TMVrep)], and geography.

  • The market share of traditional surgical devices used in open heart valve repair and replacement procedures would be overtaken by transcatheter technologies, while only the percutaneous balloon valvuloplasty (PBV) systems are expected to grow at a double-digit rate.
    • The heart valve management products market dominated by surgical heart valve replacement products, which accounted for the majority of sales.
    • The primary market limiter facing the heart valve management products market is lack of innovation. Although new devices are consistently being developed and released, many fail to address the disadvantages of current products, offering only slight iterative improvement over older models.  
      • As a result, transcatheter heart valve management products are capturing an increasing market share, and the market for those devices have a positive projected CAGR.
      • Compared to invasive (surgical) systems, the emerging transcatheter-based, minimally invasive TAVR and TMVrep systems are accounted for higher market share over the forecast period.
        • In the recent years, transcatheter heart-valve management procedures with TAVR and TMVrep systems are gaining significant boost in terms of number of procedures performed worldwide.

The global market for heart valve management products consisting repair and replacement devices is further segmented by geography into North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Rest of EU), Asia Pacific (Japan, China, India, Rest of APAC), Latin America (Brazil, Mexico, Rest of LA), and Rest of the World.

  • In terms of geography, in the United States, about 106,000 heart valve operations are performed each year. Nearly all of these operations are done to repair or replace the mitral or aortic valves.
    • Although rates of rheumatic heart disease caused primarily by bacterial infection –  are decreasing, especially in developed countries, the prevalence of heart valve disease is increasing, driving the heart valve management products market further.  
  • On the other hand, the emerging countries in the Asia Pacific region are expected to bring several new advanced products from established companies to these growing markets, during the forecast period. Similarly, in the near future, the Latin America and rest of the world market segments projected grow the faster than developed regions.
    • Endocarditis is still a significant cause of valvular disease, especially in developing nations. 

In addition, the global heart valve repair and replacement products market report provides the detailed market landscape (market drivers, restraints, opportunities), market attractiveness analysis, and market profitability analysis by key products and regions or countries.  The report also tracks the major competitors operating in the global market by company overview, financial snapshot, major products, technologies, services offered and recent developments.

Major competitors operating in the global market for heart valve management devices (heart valve repair and replacement) and profiled in this report include Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences, and Medtronic plc.

  • Edwards Lifesciences has received expanded US-FDA approvals for its TAVR systems (SAPIEN 3 and SAPIEN XT TAVR systems).
    • Japanese regulatory authorities recently approved Sapien 3 for patients at low surgical risk and the reimbursement for TAVR expected to improve by end of the forecast period.
      • Edwards expects the FDA to approve its Pascal mitral valve repair system for the treatment of degenerative mitral valve disease in 2022.
        • The company is also developing versions of Evoque and Pascal for the tricuspid valve and its expected to launch the Evoque tricuspid valve replacement system in Europe in 2022.
  • In the recent years, Abbott Laboratories has acquired Valtech Cardio Ltd., which developed the Cardioband system, and Harpoon Medical Inc.
    • Abbott is rolling out its Amplatzer Talisman patent foramen ovale (PFO) occlusion system, an upgraded version of its successful Amplatzer PFO Occluder, the first and only device specifically cleared by the US Food and Drug Administration to close the PFO.
  • Moreover, in such a mature market, competition leads to pricing pressures among the heart valve management product manufactures.
    • Combined with shrinking health care budgets in developed countries and a continuous lack of resources in underdeveloped regions, pricing pressure makes it harder for device manufacturers to increase prices, even when new devices are significantly better than older one. 

The other key competitors in the market are B. Braun Melsungen, Braile Biomedica, Becton, Dickinson and Company, CarboMedics/LivaNova, Cardiac Dimensions, CardiaMed, Cardiosolutions, Cook Medical, CryoLife, FOC Medical, InterValve, JC Medical, JenaValve Technology, Labcor, Lanzhou Lanfei Medical Instrument, Lepu Medical, NeoChord, New Valve Technology, ON-X Life Technologies, Osypka Medical, Siemens Healthcare, Symetis, Toray Medical, TTK Healthcare, Valtech Cardio, Venus MedTech, and Vascutek/Terumo Corporation.

  • Product
    • Traditional Invasive (Surgical) Products
      • Percutaneous Balloon Valvuloplasty (PBV) Systems
      • Heart Valve Repair (Annuloplasty) Systems
      • Heart Valve Replacement Products
    • Emerging Minimally Invasive Transcatheter Products
      • Transcatheter Aortic Valve Replacement (TAVR)
      • Transcatheter Mitral Valve Regurgitation Therapy (TMVrep)
  • Geography
    • North America (U.S., Canada)
    • Europe (U.K., Germany, France, Italy, Spain, Rest of EU)
    • Asia Pacific (Japan, China, India, Rest of APAC)
    • Latin America (Brazil, Mexico, Rest of LA)
    • Rest of the World
  • Company Profiles
    • Abbott Laboratories, Inc.
    • Becton, Dickinson and Company
    • Balt International
    • Balton Corporation
    • Biostable Science & Engineering, Inc.
    • Cardiac Dimensions, Inc.
    • CardiaMed B.V.
    • Cook Medical, Inc.
    • CorMatrix Cardiovascular, Inc.
    • CryoLife, Inc.
    • Edwards Lifesciences Corp.
    • FOC Medical S.A.
    • Genesee Biomedical, Inc.
    • JC Medical, Inc.
    • Labcor Laboratórios Ltda
    • Lanzhou Lanfei Medical Apparatus Co., Ltd.
    • Lepu Medical Technology Co., Ltd.
    • LivaNova plc
    • Medtentia International Ltd Oy
    • Medtronic plc
    • NeoChord
    • New Valve Technology
    • NuMed Surgical, Inc.
    • ON-X Life Technologies, Inc.
    • Osypka Medical, Inc.
    • Venus MedTech (HangZhou), Inc.
    • Toray Medical Co., Ltd.
    • TTK Healthcare Ltd.

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