PROSTHETIC HEART VALVE MARKET ANALYSIS

Prosthetic Heart Valve Market Size and Trends

The prosthetic heart valve market is estimated to be valued at USD 13.21 Bn in 2024 and is expected to reach USD 28.29 Bn by 2031, growing at a compound annual growth rate (CAGR) of 11.5% from 2024 to 2031.

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The market is expected to witness positive growth over the forecast period owing to the rising geriatric population worldwide coupled with the growing prevalence of cardiovascular diseases. Additionally, technological advancements in the field of heart valves such as development of transcatheter heart valves and growing preference for minimally invasive procedures are expected to drive the demand for prosthetic heart valves. However, high costs associated with prosthetic heart valve replacement procedures along with product recalls by major players may hinder the market growth to some extent. Overall, increasing investments by governments and players to enhance the healthcare infrastructure will continue aiding the expansion of the prosthetic heart valve market over the coming years.

Growing prevalence of heart valve diseases

The increasing prevalence of heart valve diseases acts as a key driver for the prosthetic heart valve market. Heart valve diseases traditionally affect elderly populations with degenerative valve disorders being the most common. However, with changing lifestyles, diseases associated with heart valves are being observed in younger populations as well. Conditions like rheumatic fever which can damage heart valves are no longer limited to developing regions. Another factor contributing to rising incidence of valve disorders is the growing epidemic of obesity and diabetes across the world. Both these conditions increase the risk of developing heart problems over the long term. As populations in developed economies continue to battle rising obesity, the burden of diabetes and other associated cardiac complications have increased. Early onset of lifestyle diseases means more people entering middle age with damaged heart valves. As populations grow older worldwide, age-related valve defects will affect a greater number of individuals.

Technological advancements represent a key driver propelling the prosthetic heart valve market. Continuous R&D efforts are reshaping the valve replacement landscape with new materials, minimally invasive techniques and transcatheter options. Mechanical heart valves which were the standards for decades are now slowly making way for bioprosthetic or tissue valves due to their superior hemodynamic performance and patient acceptance. Engineered tissue and stent construction methods have enhanced durability of bioprostheses close to 10-15 years. Transcatheter aortic valve replacement (TAVR) procedures using catheter delivered valves have emerged as a less invasive alternative to open-heart surgeries for high-risk patient groups. TAVR systems are innovative wherein collapsed valve substitutes are delivered to the site via catheters and implanted through small incisions. Their perceived advantages over surgical valves such as quicker recovery times are increasing uptake globally. Device manufacturers are striving to develop transcatheter technologies suitable for mitral, tricuspid and pulmonary valve positions as well.