Global Cardiac Valve market data 2024, Forecast To 2033
26 Jan, 2024
The cardiac valve market has witnessed rapid growth, increasing from $9.68 billion in 2023 to $11.17 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period is attributed to the aging population and the associated increase in valvular heart disease, growth in the prevalence of risk factors like obesity and hypertension, improved diagnostic and imaging technologies for valve diseases, awareness campaigns and education on heart health and valve disease, and development of minimally invasive and transcatheter valve procedures. Looking forward to 2028, the market is projected to reach $18.87 billion at a CAGR of 14.0%. The anticipated growth is fueled by increasing demand for bioengineered and tissue-engineered heart valves, the aging global population, and the need for valve disease treatment, telemedicine, and remote patient monitoring for valve patients, enhanced surgical techniques and robotics-assisted valve procedures, and adoption of 3D printing for personalized heart valve manufacturing. Major trends in the forecast period include advancements in valve replacement and repair techniques, integration of artificial intelligence (AI) for valve disease detection and treatment planning, adoption of 3D printing for personalized heart valve manufacturing, advancements in valve replacement and repair techniques, and enhanced surgical techniques and robotics-assisted valve procedures.
Global Cardiac Valve Market Key Driver
The cardiac valve market experiences growth fueled by the rising incidence of cardiovascular diseases globally. The prevalence of heart-related diseases, with 17.9 million deaths from cardiovascular diseases reported in September 2023, highlights the need for cardiac valve solutions. The increasing incidence of cardiovascular diseases propels the growth of the cardiac valve market.
Get A Free Sample Of The Global Cardiac Valve Market ReportGlobal Cardiac Valve Market Segments
The global cardiac valve market covered in this report is segmented –
1) By Type: Tissue Heart Valves, Transcatheter Heart Valves, Mechanical Heart Valves, Other Types
2) By Position: Aortic Valve, Mitral Valve, Other Positions
3) By Treatment: Cardiac Valve Repair, Cardiac Valve Replacement
4) By End-Users: Hospital And Clinics, Specialty Centers, Cardiac Research Institute, Other End Users
Major Cardiac Valve Industry Players
LivaNova plc, Abbott Laboratories, Colibri Heart Valve LLC, TTK HealthCare Limited, Artivion Inc., Edwards Lifesciences Corporation, Boston Scientific Corporation, Symetis SA, Jenavalve Technology Inc., CryoLife Inc., Lepu Medical Technology Co. Ltd., Braile Biomedical, Sorin Group, Micro Interventional Devices Inc., Medtronic Inc., Lepu Medical Technology, Edward Lifesciences Corporation, Neovasc Inc., Xeltis AG, JenaValve Technology, Braile Biomédica Ltd., Medtronic plc, Meril Life Sciences Pvt. Ltd., Auto Tissue Berlin GmbH, On-X Life Technologies Inc., Thubrikar Aortic Valve Inc., LifeNet Health Inc.
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Cardiac Valve Market Overview
Cardiac valves refer to artificial valves used to keep the flow of blood in one direction from the heart to the rest of the body parts. A cardiac valve is an implantable device used to replace a damaged body valve that has stopped working due to various diseases. The primary function of the cardiac valve is to keep blood flowing in the proper direction through the heart and from the heart into the major blood vessels connected to it.
Cardiac Valve Global Market Report 2023 provides data on the global cardiac valve market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cardiac valve market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.