Aortic Valve Replacement Devices Market Industry Analysis report to 2031

Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the global aortic valve replacement devices market was valued at US$ 8.26 Billion in 2022 and is expected to register a revenue CAGR of 10.2% to reach US$ 19.80 Billion by 2031. 

Aortic Valve Replacement Devices Market Fundamentals 

For patients with severe aortic stenosis, the only effective treatment is the implantation of a prosthetic aortic valve. According to current standards for cardiovascular treatment, all symptomatic patients with severe aortic insufficiency are advised to undergo aortic valve surgery. Transcatheter aortic valve replacement has replaced open heart surgical aortic valve replacement in contemporary therapeutic techniques that have undergone modification. For patients who are considered ineligible for conventional cardiac surgery due to advanced age, low left ventricular ejection fraction, and other comorbidities, several trials have demonstrated that aortic valve replacement using advanced devices such as transcatheter is a safe option. Initially, it was considered an escape strategy for these patients. Aortic valve replacement is now considered in patients with lower/intermediate risk due to knowledge acquired and the development of improved devices for these methods. The aortic valve replacement devices market trends include a high acceptance rate due to decreased mortality rates using advanced devices, lower hospital stay, controlled healthcare expenditure, and high-quality patient outcomes.

Aortic Valve Replacement Devices Market by Region

Based on the region, the global aortic valve replacement devices market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. 

North America accounted for the largest revenue share of the global aortic valve replacement devices market in 2022. One of the main drivers of regional market growth is the increased prevalence of valvular illnesses, the aging population, and the growing understanding of the advantages of aortic valve replacement devices over alternative surgical methods. The development of minimally invasive techniques and technological developments are also anticipated to increase demand for aortic valve replacement devices in the forecast years from 2023 to 2031. The market may potentially profit from rising healthcare costs and advantageous reimbursement rules. Furthermore, it is projected that supportive government efforts and reimbursement rules will contribute significantly to the explosive growth of the market in North America.

Due to emerging economies like China and India, the Asia Pacific region is anticipated to grow with the fastest revenue CAGR in terms of the aortic valve replacement devices market forecast. Due to the aging population and rising heart disease prevalence, these nations have a significant potential for growth. The market for cardiovascular devices in this region is expanding due to the increased adoption of unhealthy lifestyles and the rising demand for cutting-edge healthcare facilities. Major firms in the sector are concentrating on increasing their presence in these nations due to taking advantage of the expanding market potential. Additionally, a sizable target population, expanding healthcare services and infrastructure, rising disposable income, and increased government financing could promote the expansion of the local market.

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Aortic Valve Replacement Devices Market Competitive Landscape

Adopting aortic valve replacement devices has led to increased competition in the aortic valve replacement market, putting pressure on traditional surgical methods. The aortic valve replacement devices market forecast includes key developments in the aortic valve replacement devices market as organic and inorganic growth strategies. Many companies emphasize profitable expansion initiatives, including new launches, product approvals, and others like patents and events. Acquisitions, partnerships & collaborations were two growth tactics observed in the global aortic valve replacement devices market overview. These actions have allowed market participants to grow their consumer bases and operations. With the increasing demand for aortic valve replacement devices in the global market, it is projected that market players in this sector will have possibilities in the future. Additionally, companies across the globe are investing in raising awareness and reimbursement, which is also expected to improve the aortic valve replacement devices market outlook. Notable market participants holding the largest revenue share of the global aortic valve replacement devices market include, 

• Boston Scientific Corporation
• Medtronic Plc
• Abbott
• LivoNova
• Edwards Lifesciences Corporation
• Cryolife Inc
• Symetis SA
• Accellent Inc
• St. Jude Medical
• Lifesciences Corporation

Aortic Valve Replacement Devices Strategic Developments

• In January 2023, Abbott received FDA approval for the Navitor transcatheter aortic valve implantation (TAVI) system, intended to treat patients with severe aortic stenosis at high or extreme risk of open-heart surgery. 
• In September 2022, Medtronic plc released its latest self-expanding transcatheter aortic valve replacement system, the Evolut FX TAVR, in the U.S. This newest-generation system is an upgraded version of the existing Evolut platform, designed to improve the ease of use and predictable valve deployment for physicians. 
• In September 2020, Boston Scientific Corporation announced the initiation of a controlled launch of the ACURATE neo2™ Aortic Valve System in Europe. This next-generation transcatheter aortic valve implantation (TAVI) technology is a new platform designed with several features to improve the clinical performance of the original ACURATE neo platform.

Frequently Asked Questions About Aortic Valve Replacement Devices Market Report

What are aortic valve replacement devices?

Aortic valve replacement devices perform minimally invasive procedures to replace a narrowed aortic valve that fails to open properly.

What are the driving factors of the global aortic valve replacement devices market?

New treatment strategies and increased cardiovascular disease prevalence are the key driving factors to fuel global aortic valve replacement devices market growth.

Which factors restrict the growth of the global aortic valve replacement Devices market to its full potential?

High cost and post-surgery complications of aortic valve replacements are potentially restricting the growth of the global market.

Which are the key companies operating in the global aortic valve replacement devices market?

Key companies operating the global aortic valve replacement devices market are Boston Scientific Corporation, Medtronic, Abbott, LivoNova, Edwards Lifesciences Corporation, CryoLife, Symetis SA, Accellent Inc, and St. Jude Medical.

What will be the revenue CAGR of the aortic valve replacement devices market during the forecast period?

The global aortic valve replacement devices market is expected to grow at a revenue CAGR of 10.2% during the forecast period from 2023 to 2031.