Aortic Valve Replacement Devices Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Apr 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Aortic Valve Replacement Devices market size is expected to be worth around US$ 23.49 billion by 2030, according to a new report by Vision Research Reports.

The global Aortic Valve Replacement Devices market size was valued at US$ 6.81 billion in 2020 and is anticipated to grow at a CAGR of 21.1% during forecast period 2021 to 2030.

Growth Factors

Technological advancements in aortic valves and favorable reimbursement policies are boosting the growth of the market. Rising demand for minimally invasive surgeries is also triggering the growth of the market.

Widening base of geriatric population is one of the key growth stimulants. As per data published by Medicare and Medicaid services, the number of aortic stenosis patients over 65 years of age is constantly increasing in the U.S. Thus, rising incidence of aortic stenosis coupled with improving treatment rates is expected to bolster the growth of the market over the forecast period. In addition, growing preference for minimally invasive surgeries is escalating the growth of the market. These procedures cause lesser trauma to patient along with better outcomes and facilitate faster recovery than conventional open-heart surgeries. MIS requires relatively lesser number of hospital stays and is hence economically more viable than conventional invasive surgeries.

Favorable reimbursement policies are one of the crucial factors anticipated to drive the market in the near future. Centers for Medicare & Medicaid Services (CMS) announced that it would provide coverage for TAVR under the Medicare National Coverage Determination policy. Moreover, increasing number of clinical studies undertaken by key players for extending interventional scope, analyzing safety of devices, and assessing subsequent treatment alternatives is also working in favor of the market. However, product recalls due to safety concerns are projected to inhibit the growth of the market.

Report Highlights

the minimally invasive surgery segment accounted for the largest revenue share of 58.2%. This segment is poised to maintain its dominance throughout the forecast period due to surging demand for TAVR and the introduction of new products, such as Edwards Intuity Valve System, Enable Valve System, and Perceval Valve System. According to a study by Barnabas Heart Hospital and Rutgers New Jersey Medical School, the number of TAVR procedures was estimated to be approximately 32,000 in 2012 and is anticipated to increase to 1,62,000 by 2020.

TAVR procedures are mostly preferred, owing to lower tissue injury involved and faster patient recovery. According to the New England Journal of Medicine, the number of TAVR procedures has increased substantially since its introduction in 2007, as surgical replacement proved to be unsuitable for geriatric patients. In Germany, the number of TAVR procedures has significantly increased from144 in 2007 to 9,147 in 2013 per annum.

Various clinical studies are being conducted by market players to analyze the safety and effectiveness of TAVR. According to the Annals of Cardiothoracic Surgery, minimally invasive surgeries are safer alternatives for heart valve replacement, demonstrating enhanced postoperative outcomes such as reduced morbidity & mortality, faster recovery, and shorter duration of hospital stay. Owing to the abovementioned factors, the minimally invasive surgery segment is expected to exhibit the fastest CAGR of 13.0% during the forecast period.

In 2017, the transcatheter aortic valve segment dominated the market, with a revenue share of 53.6%. Growing preference for minimally invasive surgeries and increasing research initiatives for developing transcatheter valves are some of the key factors contributing to the growth of the segment. Besides, extensive clinical studies to expand the application of transcatheter valves are working in favor of the overall aortic valve replacement devices market.

Increasing preference for TAVR is stirring up the demand for transcatheter aortic valves. Some clinical studies have concluded that TAVR procedures result in less postoperative complications. Furthermore, the examination of the PARTNER 2A trial and SAPIEN-3 intermediate-risk registry concluded that TAVR is more cost-effective than surgical procedures.

The sutureless valves segment is projected to register the highest CAGR of close to 16.0% over the forecast period. This product type has advantages of both surgical tissue valves and minimally invasive transcatheter valves. Advantages include faster patient recovery and fewer postoperative adverse effects. Rising awareness regarding the benefits is supplementing the growth of the segment.

the hospital segment led the market in terms of revenue, representing a share of 45.5%. A large number of patients catered by hospitals is the primary factor supporting the dominance of the segment. Open surgeries are generally performed in hospitals owing to the complexity of the procedure and longer recovery time required. Several emerging countries depend on hospitals for primary healthcare, owing to which this segment is likely to maintain its dominance throughout the forecast period.

The other segment includes community and primary healthcare centers. Replacement surgeries can be conducted in these healthcare facilities. These centers are specifically designed for low income and uninsured or underinsured patients. The number of such patients is significantly high in developing regions. Thus, this segment also presents a high growth potential.

Ambulatory centers are poised to emerge as the fastest-growing segment, with a CAGR of 12.2% during the forecast period. The number of ambulatory surgery centers is increasing in developed regions. TAVR is emerging as an alternative for conventional surgeries. It is a minimally invasive surgery that can be performed in ambulatory centers, owing to the lower complexity of the surgery and less time required for the procedure as well as recovery. All these factors are estimated to benefit the growth of the segment.

North America was the leading revenue contributor, commanding approximately 42.0% of the overall market value. Increasing prevalence of valvular disorders, rising geriatric population, and growing awareness regarding the benefits of TAVR over other surgical procedures are some of the key factors stimulating the growth of the regional market. Moreover, favorable government initiatives and reimbursement policies are anticipated to help the market in the region gain tremendous momentum.

The U.S. is at the forefront of the North American market. Nearly 1.5 million people suffer from aortic stenosis in the U.S. According to the data published by Texas Heart Institute, approximately 106, 000 replacement surgeries are performed every year in the country. Also, the local presence of key players and the increasing number of clinical studies undertaken by them in the region are augmenting the market. Initiatives undertaken by private institutions are also expected to bolster the growth of the market. For instance, Edwards Lifesciences Foundation is sponsoring the American Heart Association’s Valvular Disease Education Center and Ambassador Program in the U.S.

The Asia Pacific is projected to be the fastest-growing market owing to developing economies, such as China and India. These countries have a high growth potential due to the aging population and the growing prevalence of heart diseases. Moreover, the presence of a large target population, developing healthcare infrastructure and services, increasing disposable income, and rising government funding are some of the factors likely to foster the growth of the regional market during the forecast period.

Key Players

Boston Scientific Corporation; Medtronic; St. Jude Medical; LivoNova; Edwards Lifesciences Corporation; CryoLife

Market Segmentation

  • Surgery Outlook

    • Open surgery

    • Minimally invasive surgery

  • Product Outlook

    • Transcatheter aortic valve

    • Sutureless valve

    • Others

  • End-user Outlook

    • Hospitals

    • Ambulatory surgery centers

    • Others

  • Regional Outlook

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • Russia

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • Japan

      • Taiwan

      • Hong Kong

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

The Aortic Valve Replacement Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Aortic Valve Replacement Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Aortic Valve Replacement Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Aortic Valve Replacement Devices market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Aortic Valve Replacement Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Aortic Valve Replacement Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Aortic Valve Replacement Devices by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Aortic Valve Replacement Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Aortic Valve Replacement Devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Aortic Valve Replacement Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Aortic Valve Replacement Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Aortic Valve Replacement Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Aortic Valve Replacement Devices market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Aortic Valve Replacement Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Aortic Valve Replacement Devices market. These factors have benefited the growth of the global market for Aortic Valve Replacement Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Aortic Valve Replacement Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Aortic Valve Replacement Devices are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.

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