The latest report by IMARC Group, titled “Aortic Valve Replacement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global aortic valve replacement market size reached US$ 9.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.68% during 2023-2028.
Aortic Valve Replacement (AVR) is a surgical procedure performed to replace a damaged or malfunctioning aortic valve within the heart. The aortic valve is responsible for regulating blood flow from the left ventricle of the heart into the aorta, which then distributes oxygenated blood throughout the body. When the aortic valve becomes diseased or fails to function properly, it can lead to conditions like aortic stenosis (narrowing of the valve) or aortic regurgitation (leakage of blood back into the heart). During an AVR procedure, the damaged aortic valve is removed, and a replacement valve is inserted in its place. The choice of valve depends on factors like the age, overall health, and lifestyle of the patient. AVR is a critical surgical intervention, often used to improve blood flow and relieve symptoms such as chest pain, shortness of breath, and fatigue in individuals with aortic valve disorders. At present, AVR finds extensive applications in treating aortic valve diseases and improving cardiovascular health, enhancing the quality of life for affected individuals.
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Aortic Valve Replacement Market Trends and Drivers:
The global aortic valve replacement market is primarily driven by the aging population and the increasing prevalence of age-related heart conditions, such as aortic stenosis. Apart from this, ongoing advancements in surgical techniques and the development of minimally invasive AVR procedures that expand treatment options and reduce recovery times has accelerated the adoption of AVR. Additionally, the rising awareness of heart health and early diagnosis, which leads to more timely interventions, has augmented the demand for AVR procedures. Besides this, innovative materials and prosthetic valve designs that improve the durability and longevity of replacement valves are propelling market growth. Moreover, several favorable reimbursement policies and government initiatives aimed at improving cardiac care have accelerated the adoption of AVR procedures. Along with this, the increasing use of transcatheter aortic valve replacement (TAVR) as a less invasive alternative to traditional open-heart surgery is another major growth-inducing factor. Furthermore, the heightening importance of cardiovascular health that emphasizes the significance of the AVR in addressing critical healthcare needs is contributing to market growth.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Surgery:
- Open Surgery
- Minimally Invasive Surgery
Breakup by Product:
- Transcatheter Aortic Valve
- Sutureless Valve
- Others
Breakup by End Use:
- Hospitals
- Ambulatory Surgery Centers
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Abbott Laboratories
- Anteris Technologies Ltd.
- Boston Scientific Corporation
- Coroneo Inc.
- CryoLife Inc.
- Edward Lifesciences Corporation
- JenaValve Technology Inc.
- LifeNet Health Inc.
- LivaNova PLC
- Medtronic plc
- Thubrikar Aortic Valve Inc.
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