Aortic Valve Replacement Devices Market Size, Share, Growth by 2030

The market for aortic valve replacement devices is projected to expand from US$ 7,113.39 million in 2022 to US$ 18,070.32 million by 2030, reflecting a compound annual growth rate (CAGR) of 12.4% during the period from 2022 to 2030.

This report outlines the prevailing trends in the market and the factors propelling its growth. The increase in aortic valve replacement surgeries, coupled with a rising preference for minimally invasive techniques, is significantly contributing to the expansion of the aortic valve replacement devices market. Furthermore, the growing number of clinical studies is anticipated to become a notable trend in the market throughout the forecast period. However, the occurrence of product recalls for aortic valve replacement devices poses a challenge to market growth from 2022 to 2030.

The heightened interest in minimally invasive techniques for aortic valve replacement surgeries signifies a transformative change in medical practices and patient choices. In these procedures, a malfunctioning aortic valve is substituted with an artificial valve. This trend is fueled by the aim to reduce the invasiveness of surgical interventions, lower associated risks, and facilitate quicker recovery times. Minimally invasive methods generally involve smaller incisions and the use of advanced instruments and technologies to access the heart, resulting in shorter hospital stays and reduced scarring. Patients typically experience less discomfort and can return to their normal activities more swiftly. Surgeons are increasingly adopting these techniques due to their advantages, and advancements in medical devices and surgical expertise have further supported their widespread implementation. Consequently, healthcare facilities are investing in training their medical personnel and acquiring the necessary tools to cater to the growing demand for minimally invasive aortic valve replacement surgeries, thereby enhancing treatment options and overall patient care.

The rise in clinical studies is expected to become a significant trend in the Aortic Valve Replacement Devices market.

The increase in research activities is driven by various factors, including the rising incidence of aortic valve diseases, technological advancements in medicine, and the necessity for evidence-based treatment approaches. Clinical studies play a vital role in evaluating the safety and effectiveness of new surgical methods, prosthetic valves, and transcatheter interventions. These studies also assist in identifying risk factors, refining patient selection criteria, and assessing long-term outcomes to enhance patient care and quality of life. As the demand for aortic valve replacements continues to grow, the importance of conducting thorough clinical trials becomes paramount, providing healthcare professionals and patients with the best available evidence for informed treatment decisions. With ongoing research and collaboration among medical institutions, the future of aortic valve replacement appears promising, with the potential for innovative and effective solutions on the horizon.

Several technological advancements by key players in the aortic valve replacement devices sector are highlighted below:

• In January 2019, a trial commenced for an innovative device aimed at pain management through millimeter band radiation, known as the electronic-pain killer (EPIKARD).
• A trial initiated in January 2017 focused on a vascular closure device for transcatheter aortic valve replacement, evaluating the safety and efficacy of a percutaneous plug-based large-bore vascular closure device for femoral artery closure in a prospective study involving an unselected consecutive patient cohort undergoing transcatheter aortic valve implantation.

The aortic valve replacement devices market is categorized based on product type, surgical approach, and end-user. In terms of product, the market is divided into mechanical valves and sutureless valves. The sutureless valve segment held a larger market share in 2022 and is expected to exhibit a significant CAGR from 2022 to 2030.

Regarding surgical approach, the market is split into open surgery and minimally invasive surgery. The minimally invasive surgery segment accounted for the largest market share in 2022 and is projected to achieve a higher CAGR during the forecast period.

By end-user, the aortic valve replacement devices market is segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment represented the largest market share in 2022.

Companies in the aortic valve replacement devices market employ various organic and inorganic strategies. Organic strategies primarily involve product launches and approvals, while inorganic growth strategies include acquisitions, collaborations, and partnerships. These strategies enable market players to expand their operations and enhance their geographical reach, contributing to overall market growth. Additionally, acquisition and partnership strategies help strengthen customer bases and broaden product portfolios.

Some notable developments by key players in the aortic valve replacement devices market are as follows:

• In February 2023, Medtronic reintroduced its Harmony Transcatheter Pulmonary Valve (TPV) System, offering a minimally invasive alternative to open-heart surgery for patients with congenital heart disease affecting the right ventricular outflow tract (RVOT).
• In January 2023, Abbott received FDA approval for its latest generation transcatheter aortic valve implantation (TAVI) system, Navitor, designed for patients with severe aortic stenosis at high or extreme risk for open-heart surgery. The Navitor TAVI system is the newest addition to Abbott's extensive transcatheter structural heart portfolio, providing less invasive treatment options for some of the most prevalent and serious heart conditions.