Global Aortic Valve Replacement Devices Market by Product (Transcatheter Aortic Valve, Sutureless Valve), by Surgery (Minimally Invasive, Open) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2017, the global market for aortic valve replacement devices was valued at USD 5.81 million. The market is expected to grow at 11.1% during the forecast period. Market growth is being driven by the increasing prevalence of valvular disorders such as aortic and aortic regurgitation. The market will also benefit from the awareness campaigns undertaken by different government agencies to promote valve replacement surgery.

Geriatrics are playing an important role in the growth of the market. The U.S.'s elderly population will double in 2050, from 43.1 million in 2012 to 83.7 millions by 2050. Edwards Lifesciences Corporation estimates that approximately 12.4% of Americans with aortic Stenosis are over the age of 75. The U.S. will see a significant increase in replacement surgery demand due to the increasing number of elderly people and high reimbursement rates.

There is no way to reverse the effects of aortic valve replacement (AVR). Aortic Valve Repair (AVR), is the best treatment for aortic valve stenosis. Surgical and Transcatheter AorticValve Replacement (TAVR), is a procedure that can prolong and improve the quality of life for people with valvular disease. These treatments are leading to a rise in awareness and better patient outcomes. These surgeries have many advantages that are driving the market.

The market is also being positively impacted by technological advancements in replacement surgery. TAVR is a minimally invasive procedure that is much less invasive than traditional AVR. High-risk patients with severe symptoms have significantly lower rates of comorbidities and associated mortality. Patients who undergo minimally invasive surgery with sutureless valves have a better chance of recovering and avoiding any adverse effects.

The market is also being stimulated by rising awareness campaigns about replacement surgery. European Association of Percutaneous Cardiovascular Interventions launched the Valve for Life Initiative. The European Association of Percutaneous Cardiovascular Interventions launched the Valve for Life Initiative to improve access to TAVR in Europe. It also aimed to raise awareness about valvular disease, increase knowledge among healthcare professionals, decrease barriers to therapy implementation and improve patient outcomes.

Surgery Insights

The minimally invasive segment of surgery accounted for 58.2% of the total revenue in 2017. Due to the increasing demand for TAVR, the introduction of new products such as Edwards Intuity Valve System and Enable Valve System and Perceval Valve System, this segment will continue to dominate the market throughout the forecast period. Barnabas Heart Hospital's study and Rutgers New Jersey Medical School's research found that the number of TAVR procedures in 2012 was approximately 32,000. This figure is expected to rise to 1,62,000 by 2020.

TAVR procedures are preferred due to the lower level of tissue injury and quicker patient recovery. The New England Journal of Medicine reports that TAVR has seen a significant increase in use since 2007, when surgical replacement was not suitable for geriatric patients. The number of TAVR procedures in Germany has increased significantly from 144 procedures in 2007 to 9147 in 2013.

Market players are conducting a variety of clinical studies to evaluate the safety and effectiveness TAVR. According to the Annals of Cardiothoracic Surgery minimally invasive surgery is safer than traditional heart valve replacements. They have better postoperative outcomes, such as lower morbidity and mortality, quicker recovery times, shorter hospital stays, and shorter lengths of stay. The minimally invasive segment of surgery is expected to grow at 13.0% over the forecast period, due to these factors.

Product Insights

With a 53.6% revenue share, the transcatheter-aortic valve segment was the dominant market player in 2017. The key factors driving the segment's growth are the growing preference for minimally invasive surgery and the increasing number of research initiatives to develop transcatheter vales. The overall market for aortic valve replacement devices is thriving due to extensive clinical trials.

TAVR is becoming more popular, which has prompted a rise in demand for transcatheter aortic devices. Some clinical studies show that TAVR procedures are less likely to cause complications after surgery. TAVR procedures are more cost-effective than surgical options, according to the PARTNER 2A trial.

The segment of sutureless valves is expected to see the highest CAGR at close to 16.0% during the forecast period. This product type offers both minimally invasive transcatheter and surgical tissue valves. These advantages include faster patient recovery times and fewer adverse side effects after surgery. The segment is experiencing an increase in awareness about its benefits.

End-user insights

The hospital segment dominated the market in terms revenue, with a 45.5% share. Hospitals cater to a large number of patients, which is the main reason for the dominance of this segment. Because of the complexity and lengthier recovery times, open surgeries are usually performed in hospitals. Hospitals are a key component of primary healthcare in many emerging countries, which will continue to be a dominant segment throughout the forecast period.

Other segments include primary and community healthcare centers. These healthcare facilities can perform replacement surgeries. These centers are designed specifically for patients with low incomes, uninsured or severely underinsured. These patients are very common in developing countries. This segment has a great potential for growth.

With a CAGR in excess of 12.2% over the forecast period, ambulatory centers will be the fastest-growing segment. In developed countries, the number of ambulatory surgery centres is rising. TAVR is a viable alternative to traditional surgeries. Because it is minimally invasive, it can be done in ambulatory centres. It also requires less recovery time and complexity. These factors are expected to help the segment grow.

Regional Insights

North America was the largest revenue contributor in 2017, accounting for approximately 42.0%. The key factors driving the growth of the region's market include the rising prevalence of valvular diseases, increasing geriatric population, as well as growing awareness about the advantages of TAVR over other procedures. The market is expected to gain momentum due to favorable government policies and reimbursement policies.

The U.S. leads the North American market. Aortic Stenosis affects nearly 1.5 million Americans. According to Texas Heart Institute data, there are approximately 106 000 replacement surgeries performed each year in the United States. The market is also being augmented by the presence of key players in the area and the increased number of clinical studies they are conducting in the region. Private institutions can also support the growth of this market by taking initiatives. Edwards Lifesciences Foundation, for example, is sponsoring the American Heart Association’s Valvular Disease Education Center in the U.S. and Ambassador Program in that country.

Due to the growth of developing economies like India and China, Asia Pacific will be the fastest growing market. These countries are highly susceptible to growth due to their aging population and increasing prevalence of heart disease. The growth potential of these countries will be supported by a large target market, a developing healthcare infrastructure, services, rising disposable income, and increasing government funding.

Market Share Insights & Key Companies

Boston Scientific Corporation is one of the major players in this market. These companies are pursuing various strategies, including mergers and acquisitions, extensive clinical trials to expand the range of devices that have been approved, and product launches to increase market share.

Market Report Scope on Aortic Valve Replacement Devices

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional, and country levels. It also analyzes industry trends in each sub-segment from 2014 to 2025. Grand View Research, Inc. analyzed the global market for aortic valve replacements devices based on type, region, end-user, surgery, and location.

• Surgery Outlook (Revenue USD Million, 2014-2025)

  • Open surgery

  • Minimally Invasive Surgery

• Product Outlook (Revenue USD Million, 2014-2025)

  • Transcatheter aortic Valve

  • Valve without a suture

  • Other

• End-user Outlook (Revenue USD Million, 2014-2025)

  • Hospitals

  • Ambulatory surgery centers

  • Other

• Regional Outlook (Revenue USD Million, 2014-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • Russia

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • Taiwan

    • Hong Kong

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

These are the most frequently asked questions about this report

b. Global market for aortic valve replacement devices was valued at USD 7.4 Billion in 2019, and is forecast to grow to USD 8.2 Billion by 2020.

b. Global aortic valve market growth is projected to be 11.1% between 2018 and 2025, reaching USD 13.5 billion in 2025.

b. Minimally invasive surgery was the dominant market for aortic valve replacement devices in 2019, with a share at 58.2%. This can be attributed to the increased demand for TAVR as well as new products such Edwards Intuity Valve System and Enable Valve System.

b. Boston Scientific Corporation, Medtronic, St. Jude Medical, LivoNova and Edwards Lifesciences Corporation are some of the key players in the aortic replacement device market.

b. Market growth is being driven by the growing prevalence of valvular disorders, such as Aortic Steening & Aortic Regurgitation. There are also initiatives taken by different government agencies to raise awareness about valve replacement surgery and increase preference for minimally invasive procedures.

Up Market Research published a new report titled “Aortic Valve Replacement Devices Market research report which is segmented by Product (Transcatheter Aortic Valve, Sutureless Valve), by Surgery (Minimally Invasive, Open), By Players/Companies Boston Scientific Corporation; Medtronic; St Jude Medical; LivoNova; Edwards Lifesciences Corporation; and CryoLife”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Aortic Valve Replacement Devices Market Report Segments:

The market is segmented by Product (Transcatheter Aortic Valve, Sutureless Valve), by Surgery (Minimally Invasive, Open).

Aortic Valve Replacement Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Aortic Valve Replacement Devices Market

Overview of the regional outlook of the Aortic Valve Replacement Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Aortic Valve Replacement Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Aortic Valve Replacement Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Transcatheter Aortic Valve

                2. Sutureless Valve

                1. Minimally Invasive

                2. Open

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Aortic Valve Replacement Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Aortic Valve Replacement Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.