Heart Valve Repair and Replacement Market

Heart Valve Repair and Replacement Market Outlook (2024 to 2034)

The heart valve repair and replacement market size is estimated to be valued at US$ 8,548.5 million in 2024. The market is expected to register a CAGR of 10.0% through 2034. Anticipated growth is set to propel the market to an impressive size of US$ 22,252.4 million by 2034. Advancements in minimally invasive surgical techniques and aging populations worldwide are driving the growth of this market.

The restoration of proper cardiac function by repairing or replacing malfunctioning heart valves in patients suffering from heart problems stimulates the demand for heart valve repair and replacement procedures. The demand for these treatments is rising drastically, especially in developed and developing regions where the incidences of lifestyle-related diseases are high due to obesity, hypertension, and diabetes.

Another major factor driving the growth of this market is the rising awareness of individuals across the world regarding the early diagnosis of heart valve disorders. Governments across the world are actively promoting cardiovascular health awareness campaigns to educate and empower individuals to recognize early signs of heart valve disorders. All these factors are collectively contributing to the exponential expansion of the heart valve repair and replacement market.

The heart valve repair and replacement market generated an estimated revenue of US$ 5,291.5 million in 2019. In the last five years, the market grew at a CAGR of 10.06% and added a staggering revenue of US$ 3257.0 million.

Report Attributes	Details
Estimated Market Value (2024E)	US$ 8,548.50 million
Forecasted Market Value (2034F)	US$ 22,252.4 million
Global Market Growth Rate (2024 to 2034)	10.00% CAGR
Transcatheter Aortic Valve Implantation Segment Growth Rate (2024 to 2034)	72.90%
Aortic Stenosis Segment Growth Rate (2024 to 2034)	72.20%
North America Market Share (2024)	56.30%
East Asia Market Share (2024)	9.30%
Key Companies Profiled	Abbott Edwards Lifesciences Corporation Boston Scientific Corporation CryoLife, Inc. LivaNova PLC Colibri Heart Valve JenaValve Technology, Inc. Micro Interventional Devices, Inc. Braile Biomedica Arbor Surgical Technologies, Inc. Aortech International Plc

Which Aspects are Driving the Global Heart Valve Repair and Replacement Market?

“Aging Population and Technological Advancements to Complement Demand for Heart Valve Repair and Replacements”

Currently, the world is facing a serious problem of a growing aging population. In countries like China, Japan, Germany and the United States, this problem has raised various concerns in the medicare industry. The geriatric population is more prone to cardiovascular diseases, which in turn is necessitates effective valvular interventions that also include heart valve repair and replacement surgeries. This is one of the major drivers for this market in these regions.

The medicare industry across the globe is going through a phase of excellent technological advancements. Healthcare facilities, both public as well as private, are investing billions of dollars in the development of new methodologies to eliminate the risks associated with cardiovascular diseases. This is contributing positively to the heart valve repair and replacement market, as individuals are now readily trusting these treatments over traditional surgeries.

“Enhanced Healthcare Access and Government Health Initiatives to Amplify Market Growth”

With the growing middle-class populations in countries like India, China, Japan, and the United States, individuals can now afford regular checkups and advanced surgeries linked with heart diseases. The rising disposable income of the people is another major driver of the market for heart valve repair and replacement treatments in these countries. Insurance claims and corporate reimbursement policies have aided the growth of this market in developing and developed parts of the world.

Besides this, supportive government initiatives aimed at promoting cardiovascular health and investing in healthcare infrastructure have also played a crucial role in the growth of the heart valve repair and replacement market. In countries like India, China, and the United States, where government healthcare policies contribute substantially, the heart valve repair and replacement market has experienced significant growth due to funding, awareness campaigns, and policy frameworks.

Which Factors Present Challenges to the Expansion of the Heart Valve Repair and Replacement Market?

“Lack of Awareness, Cost Constraints, and Limited Healthcare Infrastructure to Slow down Market Growth”

Despite the efforts from government and private healthcare facilities, there is still a lack of awareness about cardiovascular health and early symptoms associated with it. This has been one of the prominent reasons for the reluctance of individuals to undergo heart valve repair and replacement procedures in underdeveloped parts of the world. Apart from this, the costs associated with heart valve repair and replacement procedures have also limited accessibility in parts of the world where medical infrastructure is still in its nascent stages. The shortage of medical professionals has also been one of the main reasons adversely affecting the market. All these factors are collectively slowing down the growth of this market.

Country-wise Insights

The North American heart valve repair and replacement market is poised for exceptional growth, projecting a modest CAGR of 9.9% through 2034. The surge is primarily attributed to the increasing demand for heart valve repair and replacement in key countries, notably the United States and Mexico. In 2024, the United States dominates the heart valve repair and replacement industry with an estimated 96.8% market share. Meanwhile, the East Asian heart valve repair and replacement market is anticipated to exhibit substantial progress, aiming for a 10.4% CAGR through 2034. In this region, China emerges as the key player in the industry, commanding a significant share of 54.70% in 2024.

Why is the United States Leading the Heart Valve Repair and Replacement Market in the North American Region?

“Advanced Healthcare Infrastructure and High Prevalence of Cardiovascular Diseases in the Country to Augment Growth”

Report Attributes	Details
Market Value in 2024	US$ 4653 million
CAGR (2024 to 2034)	9.9%

The North American market stood at US$ 4,809 million in 2024, acquiring a revenue share of 56.3%, and is further projected to expand at a CAGR of 9.9% through 2034. The United States heart valve repair and replacement industry is estimated to be worth US$ 4,653 million in 2024. The demand for heart valve repair and replacement in the United States is projected to rise at a CAGR of 9.9% through 2034.

The United States of America is blessed with several drivers, making it the leading country in the heart valve repair and replacement market. The country has one of the most advanced medical infrastructures in the world which allows for seamless integration and adoption of heart valve repair and replacement technologies. Apart from this, the growing prevalence of cardiovascular diseases in the country due to unhealthy eating habits, sedentary lifestyle s and alcohol abuse, is further augmenting the need for heart valve repair and replacement surgeries.

Why is China Commanding the East Asian Heart Valve Repair and Replacement Market?

“Large Aging Population and Growing Medical Tourism to Help Market Expansion”

Report Attributes	Details
Market Value in 2024	US$ 434 million
CAGR (2024 to 2034)	11.2%

The Chinese heart valve repair and replacement industry is estimated to be worth US$ 434 million in 2024, garnering a share of 54.7% in the East Asian region. The sales of heart valve repair and replacement services are likely to record a CAGR of 11.2% through 2034.

China is home to one of the largest populations in the world. The sheer enormity of the population is enough to make it one of the leading markets in the East Asian region. Besides this, the large aging population in the country is driving the expansion of this market in the region. China is also a global hub for medical tourism. Every year, millions of tourists flock to the country for its advanced medical facilities. All these factors have effectively made China one of the dominating countries in the market.

Category-wise Insights

Based on the product, the transcatheter aortic valve implantation segment is estimated to hold a 72.90% of the global heart valve repair and replacement market share in 2024. Simultaneously, the tissue heart valves segment is anticipated to secure a 14.70% share, contributing significantly to the market's resource diversity and stability. Based on the end user, the hospitals segment marks its dominance in the heart valve repair and replacement industry, with a share of 89.50% in 2024.

Why is Transcatheter Aortic Valve Implantation Gaining Impetus in the Global Medical Industry?

“Minimally Invasive Nature, Suitability for High-Risk Patients, and Patient Preference Making it a Perfect Choice”

Report Attributes	Details
Market Share in 2024	72.90%

Transcatheter aortic valve implantation, also known as TAVI, is gaining widespread popularity in the medical world. This is generally due to its less invasive nature compared to traditional open-heart surgery. TAVI reduces recovery time and complications compared to open-heart surgery. TAVI is also in excellent demand in the geriatric population as it provides a viable solution for elderly patients who may not tolerate or prefer not to undergo open-heart surgery.

TAVI is also suitable for patients considered high-risk or ineligible for traditional surgical aortic valve replacement. This is one of the main reasons for its widespread adoption in the healthcare industry. Continuous advancements in catheter-based technologies and imaging techniques have also improved the precision and success rates of TAVI procedures, making them a perfect choice for dealing with cardiovascular diseases.

Competitive Landscape

The global market for heart valve repair and replacement is characterized by the presence of numerous international players. These companies usually collaborate with leading hospital chains and ambulatory surgical chains for the supply of the latest technologies. Industry giants, such as Abbott, Edwards Lifesciences Corporation, Boston Scientific Corporation, CryoLife Inc., etc., dominate the market. There is a presence of smaller companies, too, in the market. These companies rely on the innovations and scientific additions of big companies’ research and development.

Recent Developments

• On July 2, 2023, PGI Chandigarh achieved a milestone as the first hospital in North India to successfully perform transfemoral transseptal mitral valve replacement (TMVR), a challenging minimally invasive procedure for mitral valve replacement.
• Aster Medcity launched the 'Aster Advanced Heart Valve Centre' under Aster Cardiac Sciences on May 8, 2023. The specialized department, inaugurated by Dr. Azad Moopen, focused on valvular heart disease diagnosis and treatment.
• TruLeaf Medical (Or Akiva, Israel) developed the groundbreaking RoseDoc platform, enabling a minimally invasive procedure on a beating heart via two needle punctures. This first-of-its-kind technology allowed the replacement of a diseased heart valve without surgery.

Key Segments Covered in Heart Valve Repair and Replacements Industry Research

• By Product:

  • Heart Valve Repair
  • Heart Valve Replacement
  • Tissue Heart Valves
  • Transcatheter Aortic Valve Implantation (TAVI)

• By Indication:

  • Aortic Stenosis
  • Aortic Regurgitation
  • Mitral Stenosis
  • Mitral Regurgitation

• By End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Cardiac Catheterization Laboratories

• By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)