Key Trend in Cardiac Valve Industry 2024: Next-Generation TAVI Systems Transforming the Market
Cardiac Valve Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The cardiac valve market has experienced rapid growth in recent years, expected to rise from $9.68 billion in 2023 to $11.17 billion in 2024, with a compound annual growth rate (CAGR) of 15.3%. This historical growth is driven by an aging population leading to a rise in valvular heart disease, an increase in risk factors such as obesity and hypertension, advancements in diagnostic and imaging technologies for valve diseases, awareness campaigns, and educational initiatives focused on heart health and valve disease, as well as the development of minimally invasive and transcatheter valve procedures.
What Is the Expected Size of the Global Cardiac Valve Market, and How Fast Will It Grow?2
The cardiac valve market is anticipated to experience rapid growth, projected to reach $18.87 billion by 2028, with a CAGR of 14.0%. This growth is driven by the increasing demand for bioengineered and tissue-engineered heart valves, an aging global population requiring valve disease treatments, the use of telemedicine and remote monitoring for valve patients, improved surgical techniques and robotics-assisted procedures, and the adoption of 3D printing for customized heart valve manufacturing. Key trends during this period include advancements in valve replacement and repair techniques, the integration of artificial intelligence (AI) for detecting valve diseases and planning treatments, and further developments in robotics-assisted surgical methods.
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What Is Accelerating Growth in the Cardiac Valve Market?
The growing incidence of cardiovascular diseases is anticipated to drive the growth of the cardiac valve market. Factors such as smoking, obesity, and a sedentary lifestyle have contributed to the increasing prevalence of cardiovascular conditions, which place additional strain on the cardiovascular system. A significant contributor to coronary artery disease is the accumulation of fatty plaques in the arteries. This rise in heart-related diseases has led to an increased demand for cardiac valves to address heart valve issues.
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Who Are the Major Players Influencing the Cardiac Valve Market's Growth?
Key players in the market include LivaNova plc, Abbott Laboratories, Colibri Heart Valve LLC, TTK HealthCare Limited, Artivion Inc., Edwards Lifesciences Corporation, Boston Scientific Corporation, Symetis SA, Jenavalve Technology Inc., CryoLife Inc., Lepu Medical Technology Co. Ltd., Braile Biomedical, Sorin Group, Micro Interventional Devices Inc., Medtronic Inc., Lepu Medical Technology.
What Are the Latest Trends Influencing Cardiac Valve Market Size?
Leading companies in the cardiac valves market are innovating products like next-generation transcatheter aortic valve implantation (TAVI) systems to enhance their revenue. The Navitor TAVI system is a self-expanding valve specifically designed for patients suffering from symptomatic severe native aortic stenosis who are deemed at high or extreme risk for open-heart surgery.
How Is The Global Cardiac Valve Market Segmented?3
1) By Type: Tissue Heart Valves, Transcatheter Heart Valves, Mechanical Heart Valves, Other Types
2) By Position: Aortic Valve, Mitral Valve, Other Positions
3) By Treatment: Cardiac Valve Repair, Cardiac Valve Replacement
4) By End-Users: Hospital And Clinics, Specialty Centers, Cardiac Research Institute, Other End Users
Geographical Insights: North America Leading The Cardiac Valve Market
North America was the largest region in the cardiac valve market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cardiac valve market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is The Definition Of The Cardiac Valve Market?
Cardiac valves are artificial valves designed to maintain unidirectional blood flow from the heart to other parts of the body. These implantable devices are used to replace damaged heart valves that have ceased functioning due to various diseases. The main purpose of cardiac valves is to ensure that blood flows correctly through the heart and into the major blood vessels connected to it.
The Cardiac Valve Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Cardiac Valve Market Report: Trends, Opportunities, Strategies, and More
The Cardiac Valve Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into the cardiac valve market size, cardiac valve market drivers and trends, cardiac valve global market major players, cardiac valve competitors' revenues, cardiac valve global market positioning, and cardiac valve market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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