Aortic valve is one of the two main valves on the left side of the heart and is the outflow valve for the left ventricle. It opens and closes to regulate the blood flow and prevents the backward flow of the blood into the heart. Aortic valve replacement is done when the functioning of the aortic valve is affected. It is a procedure of replacing the non-functioning valve with an artificial heart valve. The prosthetic or artificial valve employed may be made of synthetic materials or from animal tissues. Heart diseases that lead to aortic valve replacement include aortic stenosis and aortic regurgitation. Aortic stenosis is the condition where the aortic valve is narrowed, obstructing the flow of blood. Aortic regurgitation is a condition where in the valve is leaky and allows the reverse flow of blood back into the heart. Aortic valve malfunctioning can result from the congenital abnormality or from an age-related acquired disease. The source of the artificial valve used, includes mechanical valves, which are created from man-made materials; and tissue valves, which are created from pig, cow, or human donors.
The aortic valve replacement market can be segmented based on the type of surgery, product, end user, and geography. Based on the type of surgery done to replace the faulty aortic valve, the market can be segmented into open aortic valve surgery and minimally invasive aortic valve surgery. Minimally invasive surgeries include aortic valve balloon valvuloplasty, transcatheter aortic valve implantation (TAVI), and sutureless aortic valve replacement, among others. On the basis of products, the market can be segmented as stented valves and stentless valve prostheses. Hospitals, ambulatory surgical centers and cardiac catheterization laboratories form the major end-users for the market. Geographically, the aortic valve replacement market can be segmented into North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.
Aortic stenosis is the most common type of valvular disease observed which is driving the aortic valve replacement market. In addition, changing lifestyles, leading to obesity; increasing cardiovascular diseases, growing health awareness, and increasing global geriatric population also contribute to the growth of the aortic valve replacement market. Furthermore, minimally invasive surgeries are driving the market, owing to their benefits such as low risk of infection, lesser need for blood transfusion, faster healing and recovery, reduced hospital stay, and less pain, among others. The increasing clinical trials that would lead to the introduction of new products in the market would also positively contribute to the market growth. The risks associated with the replacement procedures, high costs, and growing regulations related to product approvals, would negatively impact the aortic valve replacement market.
TAVI, and aortic valve replacement employing a tissue valve, are the common techniques used for aortic valve replacement. In terms of geography, North America had the largest share in the aortic valve replacement market followed by Europe due to the increasing obesity and growing geriatric population in the region. The rising technological advances, growing clinical trials for the same, and government support are expected to contribute to the positive growth of aortic valve replacement market in these regions. The emerging markets in Asia Pacific are expected to record strong growth during the forecast period due to the growing healthcare industry, increase in the aging population, and growing healthcare awareness.
The leading players in the aortic valve replacement market include Boston Scientific Corporation, CryoLife Inc., Edwards Lifesciences Corporation, LivaNova plc, Medtronic plc, St. Jude Medical, Inc., and Symetis SA, among other significant players worldwide.
The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.
The study is a source of reliable data on:
- Key market segments and sub-segments
- Evolving market trends and dynamics
- Changing supply and demand scenarios
- Quantifying market opportunities through market sizing and market forecasting
- Tracking current trends/opportunities/challenges
- Competitive insights
- Opportunity mapping in terms of technological breakthroughs
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market.
TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place. All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.