Analysts’ Viewpoint on Global Heart Valve Devices Market Scenario
Developments in structural heart devices and procedures, such as aortic valve replacement valves, left arterial closure devices, and tissue or biological valves are projected to fuel the growth of the global heart valve devices market. However, increasing costs of minimally invasive procedures deter patients from undergoing surgery, which in turn hampers the growth of the global heart valve devices market. Heart valve device manufacturers should focus on the efficacy, reproducibility, versatility, and technical complexity of the product. Companies in the global heart valve devices market should focus on developing heart valves from synthetic material for improved durability, and similar mechanical function to native valves, while reducing dependency on anticoagulant and antithrombotic therapy.
Heart valve devices are used for the treatment of a blockage in the heart valves, and implantation of these devices is one of the common procedures. Various structural heart valve equipment available in the market are mechanical heart valves, biological heart valves, and transcatheter heart valves. The global heart valve devices market is likely to grow at a steady growth rate during the forecast period, owing to an increase in heart valve surgeries across the world.
Request a Sample to get extensive insights into the Heart Valve Devices Market
The global heart valve devices market is estimated to reach US$ 9.5 Bn by 2022. When hypertension and diabetes coexist, the risk of cardiovascular disease increases. The prevalence of these disorders is rising due to socioeconomic factors such as lifestyle-induced diet, physical inactivity, and other habits such as smoking. Cardiovascular diseases are becoming more common, and regulatory approvals for new and advanced prosthetic heart valves are increasing the demand for heart valve devices.
According to the Nemours Foundation, around one in every 100 newborns has congenital heart defects, which can range from mild to severe. In addition, according to Micro Interventional Devices, Inc., structural heart defects affect about 60 million people in the U.S. or about 20% to 25% of the adult population.
The introduction of new products for use in minimally invasive procedures is likely to propel the global heart valve devices market. Tissue valves have already revolutionized the heart valve devices market. Next-generation heart valve surgeries offer lower delivery profiles, more controlled placement, improved valve function, reduced paravalvular regurgitation, increased durability, and lower cost. Product innovation has increased the growth prospects for heart valve device market players by allowing the treatment of a larger patient population, while achieving superior clinical outcomes.
Despite significant progress in the past few years, interventional structural heart treatment is still in the nascent market with significant potential. Clever design, new technologies, and novel biomaterial applications continue to push the boundaries of new product development, ensuring that these devices are at the forefront of interventional product innovation for several years to come. Design innovations are helping market players to seize the lucrative growth opportunities in heart valve devices.
In terms of type, the transcatheter aortic valve segment is expected to dominate the global market during the forecast period. This can be attributed to an increase in the number of transcatheter aortic valve replacement procedures due to the high incidence of heart valve diseases, ease of implantation, increase in the number of transcatheter heart valve surgery centers, and surge in the patient population.
The transcatheter aortic valve segment is likely to witness strong growth during the forecast period. Several government corporations' actions to increase knowledge about heart valve replacement surgeries are projected to drive the segment. An increase in demand for minimally invasive procedures has encouraged players to invest in the research & development of novel surgical processes. Transcatheter heart valve prosthesis product launches, such as the SAPIEN Transcatheter Heart Valve, Magna Ease Aortic and Mitral Valves, and PERIMOUNT Aortic/Mitral Valves, are anticipated to propel the demand for transcatheter valves.
Request a custom report on Heart Valve Devices Market
North America held the largest share of 44% of the global market in terms of volume in 2021. The region leads the global heart valve devices market in terms of the adoption of technologically superior products and techniques, as well as comparatively higher average selling prices of heart valve devices in the region.
The Asia Pacific was the second largest market for heart valve devices in 2021. The global market for heart valve devices is driven by the factors such as an increase in the geriatric population, favorable reimbursement scenarios, a rise in regulatory approvals, and the presence of a large target patient population. In addition, the surge in healthcare expenditure, implementation of government-funded insurance schemes, and growing medical tourism industry in several countries are attributable to the market growth in the Asia Pacific.
Aortic stenosis affects millions of people in Europe. These statistics highlight the need for structural heart disease treatment devices, providing impetus to develop new techniques for heart defect replacement and repair.
The global heart valve devices market is consolidated, with a small number of large players accounting for the majority of the market share. Several companies are making a significant investment in research & development primarily to develop environmentally friendly products.
Diversification of product portfolio and mergers & acquisitions are the key strategies adopted by the leading players. Some of the key market players operating in the global heart valve devices market are Abbott, Boston Scientific Corporation, CryoLife, Inc., Edward Lifesciences Corporation, JenaValve Technology, Inc., Medtronic, Inc., SYMETIS., Neovasc, Inc., Sorin Group (LivaNova plc), Micro Interventional Devices, Inc., XELTIS, TTK HealthCare, and Lepu Medical, among others.
Each of these players has been profiled in the heart valve devices market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
Attribute |
Detail |
Market Size Value in 2021 |
US$ 8.7 Bn |
Market Forecast Value in 2031 |
US$ 26.3 Bn |
Growth Rate(CAGR) |
11.9% |
Forecast Period |
2022–2031 |
Historical Data Available for |
2017–2020 |
Quantitative Units |
US$ Bn for Value & Tons for Volume |
Market Analysis |
It includes cross segment analysis at global as well as regional level. Furthermore, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. |
Competition Landscape |
|
Format |
Electronic (PDF) + Excel |
Market Segmentation |
|
Regions Covered |
|
Countries Covered |
|
Companies Profiled |
|
Customization Scope |
Available upon request |
Pricing |
Available upon request |
The global heart valve devices market was valued at US$ 8.7 Mn in 2021 and projected to reach US$ 26.3 Mn by 2031.
The global heart valve devices market is expected to grow at a CAGR of 11.9% during the forecast period.
Rise in prevalence of heart valve diseases and launch of innovative products are likely to boost the growth of the global market during the forecast period.
The market in North America is projected to expand at the fastest CAGR from 2022 to 2031.
The transcatheter aortic valve segment is expected to account for the largest share of the global market in terms of revenue by 2031.
Abbott, Boston Scientific Corporation, CryoLife, Inc., Edward Lifesciences Corporation, and Medtronic, Inc. are the prominent players in the global heart valve devices market.
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Heart Valve Devices Market
4. Market Overview
4.1. Introduction
4.1.1. Type Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Heart Valve Devices Market Analysis and Forecast, 2017–2031
5. Key Insights
5.1. Key Mergers & Acquisitions
5.2. Technological Advancements
5.3. Key Mergers & Acquisitions
6. Global Heart Valve Devices Market Analysis and Forecast, by Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Type, 2017–2031
6.3.1. Mechanical Heart Valve
6.3.2. Biological Heart Valve
6.3.3. Transcatheter Aortic Valve
6.4. Market Attractiveness Analysis, by Type
7. Global Heart Valve Devices Market Analysis and Forecast, by Distribution Channel
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Market Value Forecast, by Distribution Channel, 2017–2031
7.3.1. Hospitals
7.3.2. Ambulatory Surgical Centers
7.3.3. Others (cardiac centers, research centers, etc.)
7.4. Market Attractiveness Analysis, by Distribution Channel
8. Global Heart Valve Devices Market Analysis and Forecast, by Region
8.1. Key Findings
8.2. Market Value Forecast, by Region
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Latin America
8.2.5. Middle East & Africa
8.3. Market Attractiveness Analysis, by Region
9. North America Heart Valve Devices Market Analysis and Forecast
9.1. Introduction
9.1.1. Key Findings
9.2. Market Value Forecast, by Type, 2017–2031
9.2.1. Mechanical Heart Valve
9.2.2. Biological Heart Valve
9.2.3. Transcatheter Aortic Valve
9.3. Market Value Forecast, by Distribution Channel, 2017–2031
9.3.1. Hospitals
9.3.2. Ambulatory Surgical Centers
9.3.3. Others (cardiac centers, research centers, etc.)
9.4. Market Value Forecast, by Country, 2017–2031
9.4.1. U.S.
9.4.2. Canada
9.5. Market Attractiveness Analysis
9.5.1. By Type
9.5.2. By Distribution Channel
9.5.3. By Country
10. Europe Heart Valve Devices Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Market Value Forecast, by Type, 2017–2031
10.2.1. Mechanical Heart Valve
10.2.2. Biological Heart Valve
10.2.3. Transcatheter Aortic Valve
10.3. Market Value Forecast, by Distribution Channel, 2017–2031
10.3.1. Hospitals
10.3.2. Ambulatory Surgical Centers
10.3.3. Others (cardiac centers, research centers, etc.)
10.4. Market Value Forecast, by Country/Sub-region, 2017–2031
10.4.1. Germany
10.4.2. U.K.
10.4.3. France
10.4.4. Italy
10.4.5. Spain
10.4.6. Rest of Europe
10.5. Market Attractiveness Analysis
10.5.1. By Type
10.5.2. By Distribution Channel
10.5.3. By Country/Sub-region
11. Asia Pacific Heart Valve Devices Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Market Value Forecast, by Type, 2017–2031
11.2.1. Mechanical Heart Valve
11.2.2. Biological Heart Valve
11.2.3. Transcatheter Aortic Valve
11.3. Market Value Forecast, by Distribution Channel, 2017–2031
11.3.1. Hospitals
11.3.2. Ambulatory Surgical Centers
11.3.3. Others (cardiac centers, research centers, etc.)
11.4. Market Value Forecast, by Country/Sub-region, 2017–2031
11.4.1. China
11.4.2. Japan
11.4.3. India
11.4.4. Australia & New Zealand
11.4.5. Rest of Asia Pacific
11.5. Market Attractiveness Analysis
11.5.1. By Type
11.5.2. By Distribution Channel
11.5.3. By Country/Sub-region
12. Latin America Heart Valve Devices Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Market Value Forecast, by Type, 2017–2031
12.2.1. Mechanical Heart Valve
12.2.2. Biological Heart Valve
12.2.3. Transcatheter Aortic Valve
12.3. Market Value Forecast, by Distribution Channel, 2017–2031
12.3.1. Hospitals
12.3.2. Ambulatory Surgical Centers
12.3.3. Others (cardiac centers, research centers, etc.)
12.4. Market Value Forecast, by Country/Sub-region, 2017–2031
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Rest of Latin America
12.5. Market Attractiveness Analysis
12.5.1. By Type
12.5.2. By Distribution Channel
12.5.3. By Country/Sub-region
13. Middle East & Africa Heart Valve Devices Market Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Market Value Forecast, by Type, 2017–2031
13.2.1. Mechanical Heart Valve
13.2.2. Biological Heart Valve
13.2.3. Transcatheter Aortic Valve
13.3. Market Value Forecast, by Distribution Channel, 2017–2031
13.3.1. Hospitals
13.3.2. Ambulatory Surgical Centers
13.3.3. Others (cardiac centers, research centers, etc.)
13.4. Market Value Forecast, by Country/Sub-region, 2017–2031
13.4.1. GCC Countries
13.4.2. South Africa
13.4.3. Rest of Middle East & Africa
13.5. Market Attractiveness Analysis
13.5.1. By Type
13.5.2. By Distribution Channel
13.5.3. By Country/Sub-region
14. Competition Landscape
14.1. Market Player - Competition Matrix (by tier and size of companies)
14.2. Market Share Analysis, by Company, 2021
14.3. Company Profiles
14.3.1. Abbott
14.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.1.2. Product Portfolio
14.3.1.3. SWOT Analysis
14.3.1.4. Strategic Overview
14.3.2. Boston Scientific Corporation
14.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.2.2. Product Portfolio
14.3.2.3. SWOT Analysis
14.3.2.4. Strategic Overview
14.3.3. CryoLife, Inc.
14.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.3.2. Product Portfolio
14.3.3.3. SWOT Analysis
14.3.3.4. Strategic Overview
14.3.4. Edward Lifesciences Corporation
14.3.4.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.4.2. Product Portfolio
14.3.4.3. SWOT Analysis
14.3.4.4. Strategic Overview
14.3.5. JenaValve Technology, Inc.
14.3.5.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.5.2. Product Portfolio
14.3.5.3. SWOT Analysis
14.3.5.4. Strategic Overview
14.3.6. Medtronic.
14.3.6.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.6.2. Product Portfolio
14.3.6.3. SWOT Analysis
14.3.6.4. Strategic Overview
14.3.7. SYMETIS
14.3.7.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.7.2. Product Portfolio
14.3.7.3. SWOT Analysis
14.3.7.4. Strategic Overview
14.3.8. Neovasc, Inc.
14.3.8.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.8.2. Product Portfolio
14.3.8.3. SWOT Analysis
14.3.8.4. Strategic Overview
14.3.9. Sorin Group (LivaNova plc)
14.3.9.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.9.2. Product Portfolio
14.3.9.3. SWOT Analysis
14.3.9.4. Strategic Overview
14.3.10. Micro Interventional Devices, Inc.
14.3.10.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.10.2. Product Portfolio
14.3.10.3. SWOT Analysis
14.3.10.4. Strategic Overview
14.3.11. XELTIS
14.3.11.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.11.2. Product Portfolio
14.3.11.3. SWOT Analysis
14.3.11.4. Strategic Overview
14.3.12. TTK HealthCare
14.3.12.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.12.2. Product Portfolio
14.3.12.3. SWOT Analysis
14.3.12.4. Strategic Overview
14.3.13. Lepu Medical technology
14.3.13.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.13.2. Product Portfolio
14.3.13.3. SWOT Analysis
14.3.13.4. Strategic Overview
List of Tables
Table 01: Global Heart Valve Devices Market Size (US$ Bn) Forecast, by Type, 2022–2031
Table 02: Global Heart Valve Devices Market Size (US$ Bn) Forecast, by Distribution Channel, 2022–2031
Table 03: Global Heart Valve Devices Market Size (US$ Bn) Forecast, by Region, 2022–2031
Table 04: North America Heart Valve Devices Market Size (US$ Bn) Forecast, by Country, 2022–2031
Table 05: North America Heart Valve Devices Market Size (US$ Bn) Forecast, by Type, 2022–2031
Table 06: North America Heart Valve Devices Market Size (US$) Forecast, by Distribution Channel, 2022–2031
Table 07: Europe Heart Valve Devices Market Size (US$ Bn) Forecast, by Country/Sub-region, 2022–2031
Table 08: Europe Heart Valve Devices Market Size (US$) Forecast, by Type, 2022–2031
Table 09: Europe Heart Valve Devices Market Size (US$ Bn) Forecast, by Distribution Channel, 2022–2031
Table 10: Asia Pacific Heart Valve Devices Market Size (US$ Bn) Forecast, by Country/Sub-region, 2022–2031
Table 11: Asia Pacific Heart Valve Devices Market Size (US$) Forecast, by Type, 2022–2031
Table 12: Asia Pacific Heart Valve Devices Market Size (US$ Bn) Forecast, by Distribution Channel, 2022–2031
Table 13: Latin America Heart Valve Devices Market Size (US$ Bn) Forecast, by Country/Sub-region, 2022–2031
Table 14: Latin America Heart Valve Devices Market Size (US$) Forecast, by Type, 2022–2031
Table 15: Latin America Heart Valve Devices Market Size (US$ Bn) Forecast, by Distribution Channel, 2022–2031
Table 16: Middle East & Africa Heart Valve Devices Market Size (US$ Bn) Forecast, by Country/Sub-region, 2022–2031
Table 17: Middle East & Africa Heart Valve Devices Market Size (US$) Forecast, by Type, 2022–2031
Table 18: Middle East & Africa Heart Valve Devices Market Size (US$ Bn) Forecast, by Distribution Channel, 2022–2031
List of Figures
Figure 01: Global Heart Valve Devices Market Value (US$ Bn), by Type, 2022–2031
Figure 02: Global Heart Valve Devices Market Value (US$ Bn), by Distribution Channel, 2022–2031
Figure 03: Global Heart Valve Devices Market Value (US$ Bn), by Region, 2022–2031
Figure 04: Global Heart Valve Devices Market Value Share Analysis, by Type, 2022 and 2031
Figure 05: Global Mechanical Heart Valve Market Revenue (US$ Bn) and Y-o-Y Growth (%) Forecast, 2017–2025
Figure 06: Global Biological Heart Valve Market Revenue (US$ Bn) and Y-o-Y Growth (%) Forecast, 2017–2025
Figure 07: Global Transcatheter Aortic Valve Market Revenue (US$ Bn) and Y-o-Y Growth (%) Forecast, 2017–2025
Figure 08: Global Heart Valve Devices Market Attractiveness Analysis, by Type, 2022–2031
Figure 09: Global Heart Valve Devices Market Value Share Analysis, by Distribution Channel, 2022 and 2031
Figure 10: Global Hospitals Heart Valve Devices Market Value (US$ Bn) and Y-o-Y Growth (%), 2017–2025
Figure 11: Global Ambulatory Surgical Centers Heart Valve Devices Market Value (US$ Bn) and Y-o-Y Growth (%), 2017-2025
Figure 12: Global Others (cardiac centers, research centers, etc.) Heart Valve Devices Market Value (US$ Bn) and Y-o-Y Growth (%), 2017–2025
Figure 13: Global Heart Valve Devices Market Attractiveness Analysis, by Distribution-Channel, 2022–2031
Figure 14: North America Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 15: Europe Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 16: Asia Pacific Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 17: Latin America Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 18: MEA Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 19: Global Heart Valve Devices Market Attractiveness Analysis, by Region, 2022–2031
Figure 20: U.S. Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 21: Canada Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 22: North America Heart Valve Devices Market Attractiveness Analysis, by Country, 2022–2031
Figure 23: North America Heart Valve Devices Market Attractiveness Analysis, by Type, 2022–2031
Figure 24: North America Heart Valve Devices Market Attractiveness Analysis, by Distribution Channel, 2022–2031
Figure 25: Germany Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 26: France Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 27: U.K. Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 28: Italy Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 29: Spain Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 30: Rest of Europe Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 31: Europe Heart Valve Devices Market Attractiveness Analysis, by Country/Sub-region, 2022–2031
Figure 32: Europe Heart Valve Devices Market Attractiveness Analysis, by Type, 2022–2031
Figure 33: Europe Heart Valve Devices Market Attractiveness Analysis, by Distribution Channel, 2022–2031
Figure 34: China Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 35: Japan Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 36: India Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 37: Rest of Asia Pacific Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 38: Asia Pacific Heart Valve Devices Market Attractiveness Analysis, by Country/Sub-region, 2022–2031
Figure 39: Asia Pacific Heart Valve Devices Market Attractiveness Analysis, by Type, 2022–2031
Figure 40: Asia Pacific Heart Valve Devices Market Attractiveness Analysis, by Distribution Channel, 2022–2031
Figure 41: Brazil Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 42: Mexico Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 43: Rest of Latin America Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 44: Latin America Heart Valve Devices Market Attractiveness Analysis, by Country/Sub-region, 2022–2031
Figure 45: Latin America Heart Valve Devices Market Attractiveness Analysis, by Type, 2022–2031
Figure 46: Latin America Heart Valve Devices Market Attractiveness Analysis, by Distribution Channel, 2022–2031
Figure 47: South Africa Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 48: Saudi Arabia Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 49: Rest of MEA Heart Valve Devices Market Size (US$ Bn) Forecast, 2022–2031
Figure 50: Middle East & Africa Heart Valve Devices Market Attractiveness Analysis, by Country/Sub-region, 2022–2031
Figure 51: Middle East & Africa Heart Valve Devices Market Attractiveness Analysis, by Type, 2022–2031
Figure 52: Middle East & Africa Heart Valve Devices Market Attractiveness Analysis, by Distribution Channel, 2022–2031
Figure 53: Heart Valve Devices Market Share Analysis by Company 2022–2031