by 
Prosthetic heart valves are mechanical implants placed surgically in diseased hearts to treat valvular diseases such as aortic stenosis and mitral regurgitation. Prosthetic heart valves are used to replace defective heart valves that are damaged or diseased. Major prosthetic heart valves used include mechanical valves and tissue/biological valves. Mechanical heart valves are made from carbon, titanium alloys or pyrolytic carbon coated metals whereas biological valves are made from porcine (pig) heart tissue or bovine (cow) tissue. Transcatheter heart valve replacement procedures are minimally-invasive catheter based procedures gaining momentum as an alternative to open-heart surgery for high risk patients and older populations. These procedures helps reduce complication risks such as infection, bleeding, or blood clots associated with open-heart surgeries.
The global Prosthetic Heart Valve Market is estimated to be valued at US$ 109.68 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Rising prevalence of valvular heart diseases globally due to increasing geriatric population will mainly drive the growth of global prosthetic heart valve market during the forecast period. As per given report, one driver refered in heading is growing adoption of transcatheter heart valves. Transcatheter heart valves offer advantages of minimally invasive procedures over open-heart surgeries. Their adoption is increasing at a rapid pace owing to benefits such as quicker recovery times, fewer complications and expanding applicability to lower risk patient groups. In addition, technological advancements in transcatheter heart valves such as expandable valves matched to individual patient’s anatomy and multi-stage valved stent designs are further supporting the growth of prosthetic heart valve market by 2030.
Segment Analysis
The global prosthetic heart valve market is dominated by the mechanical heart valves segment. Mechanical heart valves represented about 70% of all prosthetic heart valves implanted globally in 2020 due to their longer durability compared to biological heart valves. However, the tissue/biological heart valves segment is expected to witness higher growth during the forecast period. Advances in tissue engineering techniques are aiding the development of next-generation biological heart valves with better hemodynamics and lifespan comparable to mechanical valves.
PEST Analysis
Political: Healthcare reforms in several countries are focusing on increasing public funding for heart disease treatment including heart valve replacements. This will boost market growth.
Economic: Rising healthcare expenditures and growing middle class populations in developing economies will drive the demand for advanced prosthetic heart valves.
Social: Growing geriatric populations prone to heart valve disorders is a major factor for the increasing number of heart valve replacement surgeries globally.
Technological: Manufacturers are investing in 3D printing and tissue engineering to develop innovative heart valve designs with improved hemodynamics and durability. New transcatheter heart valves have enabled non-invasive procedures.
Key Takeaways
The global prosthetic heart valve market is expected to witness high growth during the forecast period of 2023 to 2030 supported by the rising global burden of heart valve disorders.
Regionally, Asia Pacific is projected to witness the fastest growth fueled by expanding healthcare infrastructure, availability of advanced treatment options, and growing medical tourism in the region.
Key players operating in the prosthetic heart valve market are ATCOR, Millar, OMRON HEALTHCARE Co.,Ltd., DAEYOMEDI, MedTach, Itamar Medical Ltd., DiaTecne s.r.l., Alam Medical, Cardiovascular Engineering Inc., OCULUS, Keeler, Haag-Streit Group, SunTechMedical, Inc., Osypka Medical and Shenzhen Mindray Bio-Medical Electronics Co Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
