The global prosthetic heart valve market is anticipated to grow at a significant CAGR of 9% during the forecast period. The increasing prevalence of heart-related diseases coupled with growing approval for artificial heart valves is the major factor propelling the market growth across the globe. CVD are among the leading chronic disease, which includes diseases of heart and blood vessel circulation, heart failure, rheumatic heart disease, hypertensive heart disease, myocardial infarction, and stroke. According to WHO (World Health Organization), CVD accounts for 17.7 million mortality every year, estimated to be nearly 31% of mortality across the globe. According to the American Heart Association, the global CVD rate is estimated to reach 23.6 million by 2030. Therefore, increasing heart-related diseases raises the demand for prosthetic heart valves further propelling the market growth.

Impact of COVID-19 Pandemic on Global Prosthetic Heart Valves Market

The COVID-19 pandemic had created an unprecedented disruption to global economies and the healthcare industry, with extensive lockdowns and travel bans. Patients with prosthetic valve replacement with coronavirus disease 2019 (COVID-19) infection are a challenging subset of patients to manage. Very little is known regarding the outcome of COVID-19 infection in these patients. The patients are challenging not just because of concomitant cardiovascular risk factors but also because of the presence of liver function abnormalities, which hindered the growth of the market. 

Segmental Outlook 

The global prosthetic heart valve market is segmented based on the type and end-users Based on the type, the market is bifurcated into mechanical heart valves and biological/tissue heart valves. Based on the end-users, the market is augmented into the hospital and ambulatory centers. The above-mentioned segments can be customized as per the requirements. Among the end-users, the hospital segment is expected to drive the market growth as Heart valves find significant application in hospitals due to the increasing number of heart surgeries in hospitals coupled with the growing number of hospitals across the globe.   

Global Prosthetic Heart Valves  Market Share by Type, 2021 (%)

The Mechanical Heart Valve Segment is Expected to Hold a Considerable Share in the Global Prosthetic Heart Valves Market

The mechanical heart valve segment is projected to have a significant market share during the forecast period. Technological advancement in heart valves and rising demand for minimally invasive surgical procedures are the major factors contributing to market growth. With the improvements in surgical techniques, minimally invasive procedures have been fulfilling the requirement of smaller incisions and the procedure typically produces less post-surgical pain, superior results, and faster recoveries.

Regional Outlooks

The global prosthetic heart valves market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. The North American region is expected to propel the growth of the market over the forecast period, the presence of major market players, such as Abbott Laboratories Inc. and others are providing a significant contribution to market growth.

Global Prosthetic Heart Valves Market Growth, by Region 2022-2028

The North America Region is Expected to Hold the Significant Share in the Global Prosthetic Heart Valves Market

North America is expected to have a significant share of the global market during the forecast period. This is due to the developed healthcare infrastructure and high prevalence of heart valve disease coupled with growing cardiac surgeries in the region. For instance, in January 2021, data published by the American Heart Association (AHA), The US age-adjusted death rate attributable to cardiovascular disease (CVD), based on 2018 data, is 217.1 per 100,000. On average, someone dies of CVD every 36 seconds in the United States. There are 2,380 deaths from CVD each day, based on 2018 data. Moreover, On average, someone dies of a stroke every 3 minutes and 33 seconds in the United States. There are about 405 deaths from stroke each day, based on 2018 data.

Market Players Outlook

The major companies serving the global prosthetic heart valves market include Cardiosolutions, Inc. (Ingenovis Health), Colibri Heart Valve LLC, enVVeno Medical Corp., HLT, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 2021, the First 'Made in India' 3-D printed heart valve was developed in Chennai. The currently available artificial heart valves are either made of metal components (mechanical) or from animal tissues (bioprosthetic), each with its disadvantages or complications, such as the risk of blood clot formation, valve failure due to degeneration, valve infection, the need for long-term blood thinner medications, etc. The new heart valves developed using 3D printers can overcome these problems related to artificial heart valves.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global prosthetic heart valves market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.