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Heart Valve Devices Market Size is Anticipated to Reach USD 38.2 Billion, Advancing at a CAGR of 11.7% by 2034 | TMR Study
Heart Valve Devices Market
Heart Valve Devices Market (심장 판막 장치 시장) is projected to advance at a CAGR of 11.7% from 2024 to 2034 and reach more than US$ 38.2 Bn by the end of 2034
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Overview of Heart Valve Devices Market
The global heart valve devices market is expanding due to the increasing prevalence of heart valve diseases, technological advancements, and a growing geriatric population. The market is segmented by product type (mechanical heart valves, biological heart valves, transcatheter heart valves, and others), end-users (hospitals, ambulatory surgical centers, cardiac catheterization laboratories), and geographical regions.
Market Key Players
Medtronic plc
Boston Scientific Corporation
Abbott
Edwards Lifesciences Corporation
Foldax Inc.
Novostia SA
Meril Life Sciences Pvt. Ltd.
Corcym UK Limited
JenaValve Technology, Inc.
Micro Interventional Devices, Inc.
Auto Tissue Berlin GmbH
Anteris Technologies Ltd
Thubrikar Aortic Valve, Inc.
MicroPort Scientific Corporation
Biosensors International Group, Ltd.
Recent Developments in Heart Valve Devices Market
Recent advancements and trends in the heart valve devices market include:
Transcatheter Aortic Valve Replacement (TAVR): The rise of TAVR as a minimally invasive procedure for high-risk patients who cannot undergo traditional open-heart surgery.
Next-Generation Valve Designs: Development of next-generation heart valves with improved durability, biocompatibility, and hemodynamic performance.
Mitral Valve Repair Devices: Innovations in transcatheter mitral valve repair (TMVR) devices, providing new options for patients with mitral regurgitation.
3D Printing: Utilization of 3D printing technology for custom-designed heart valves, enhancing patient-specific treatment approaches.
AI and Imaging Technologies: Integration of artificial intelligence (AI) and advanced imaging technologies to improve diagnosis, treatment planning, and procedural outcomes.
Drivers of Market Growth
Several factors contribute to the growth of the heart valve devices market:
Increasing Prevalence of Heart Valve Diseases: Rising incidence of conditions such as aortic stenosis, mitral regurgitation, and other valvular disorders, driven by aging populations and lifestyle-related risk factors.
Aging Population: Growing elderly population, which is more susceptible to degenerative valve diseases, fueling the demand for heart valve interventions.
Technological Advancements: Continuous innovations in heart valve design, materials, and minimally invasive techniques improving patient outcomes and expanding treatment options.
Rising Healthcare Expenditure: Increased healthcare spending and improving healthcare infrastructure, particularly in emerging markets, facilitating access to advanced cardiac care.
Patient Preference for Minimally Invasive Procedures: Growing preference for minimally invasive procedures such as TAVR and TMVR, which offer shorter recovery times and reduced procedural risks.
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Conclusion
The heart valve devices market is poised for significant growth, driven by the rising prevalence of heart valve diseases, an aging population, technological advancements, increasing healthcare expenditure, and a growing preference for minimally invasive procedures. Innovations in TAVR, next-generation valve designs, TMVR devices, 3D printing, and AI integration are enhancing the effectiveness and accessibility of heart valve treatments.
Market Segmentation
Type of Heart Valve
Aortic Valve
Less than 20 mm
20-23 mm
23-26 mm
More than 26 mm
Mitral Valve
Less than 26 mm
26-28 mm
29-31 mm
More than 31 mm
Tricuspid Valve
Pulmonary Valve
Material
Biological Valves
TAVI
Surgical
Others
Mechanical Valves
Age Group
Pediatric Patients
Adults
Geriatric Patients
End-user
Hospitals
Ambulatory Surgical Centers
Others
Region
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
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