New York, March 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cardiac Valve Global Market Report 2023" - https://www.reportlinker.com/p06433443/?utm_source=GNW
, Braile Biomédica, Foldax Inc., Sorin SpA, Neovasc Inc., The RUA Life Sciences group, Translumina Therapeutics Private Limited and On-X Life Technologies.
The global cardiac valve market grew from $8.35 billion in 2022 to $9.51 billion in 2023 at a compound annual growth rate (CAGR) of 13.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cardiac valve market is expected to grow to $15.39 billion in 2027 at a CAGR of 12.8%.
The cardiac valve market consists of sales of tricuspid valves and pulmonary valves.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Cardiac valves refer to artificial valves used to keep the flow of blood in one direction from the heart to the rest of the body parts.A cardiac valve is an implantable device used to replace a damaged body valve that has stopped working due to various diseases.
The primary function of the cardiac valve is to keep blood flowing in the proper direction through the heart and from the heart into the major blood vessels connected to it.
North America was the largest region in the cardiac valve market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the cardiac valve market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of cardiac valves are tissue, transcatheter, mechanical, and other heart valves.Tissue heart valves refer to heart valves used in open heart or minimally invasive surgery to prevent blood clots inside the vessels.
Animal tissue that is robust and flexible is used to make tissue valves from the valves of animal donors.These valves are used in cardiac valve repair and cardiac valve replacement.
The aortic valve, Mitral valve, and other positions where the cardiac valve is repaired or replaced in the heart. Hospitals and clinics, specialty centers, cardiac research institutes, and others are the end users of cardiac valves.
The rising incidence of cardiovascular diseases is expected to propel the growth of the cardiac valve market.The prevalence of the cardiovascular disease has gradually increased due to smoking, obesity, a lack of physical activity, and other factors that strain the cardiovascular system.
The most common cause of coronary artery disease is arteries’ build-up of fatty plaques.These gradual increases in heart-related diseases raised the demand for the cardiac valve to treat heart valve problems.
According to the Center for Disease Control and prevention, an American national public health agency, approximately 697,000 people in the US died from heart disease in 2020 which converted to almost 1 in 5 deaths. Therefore, the rising incidence of cardiovascular diseases will drive the cardiac valve market.
Technological advancements in cardiac valves are a key trend gaining popularity in the cardiac valve market.With advancements in technology, there are less invasive treatment options for heart diseases.
Major companies operating in the cardiac valve market are concentrating on technologies such as neochordae implantation, annuloplasty ring, and robotic surgery to strengthen their market position.These innovative technologies help to protect patients from life-threatening conditions such as heart stroke and cardiac arrest.
For instance, in July 2020, LivaNova PLC, a UK- based cardiac surgery and neuromodulation device manufacturing company, launched Perceval Plus sutureless surgical aortic heart valve based on sutureless surgical technology.This sutureless technology offers minimally invasive heart surgery with anti-calcification treatment with long durability.
Furthermore, in September 2020, Boston Scientific Corporation, a US-based medical technology company, launched transcatheter aortic valve implantation (TAVI) technology. This technology is used for aortic stenosis treatment by lowering mortality, complications, and surgical cost for the treatment of heart diseases.
In January 2022, Venus Medtech, the China-based structural heart disease treatment company, acquired Cardiovalve Ltd. for an undisclosed amount. With this acquisition, Venus Medtech will continue progressing clinical research in Europe and the United States while accelerating clinical development and commercialization in China. This acquisition would allow Venus Medtech to become China’s most comprehensive platform for treating mitral and tricuspid regurgitation. Cardiovalve Ltd. is an Israel-based medical device company developing a transfemoral mitral valve replacement system.
The countries covered in the cardiac valve market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cardiac valve market research report is one of a series of new reports that provides cardiac valve market statistics, including cardiac valve industry global market size, regional shares, competitors with a cardiac valve market share, detailed cardiac valve market segments, market trends and opportunities, and any further data you may need to thrive in the cardiac valve industry. This cardiac valve market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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