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Aortic Valve Market To Generate Revenue Worth $29,146.9 Million by 2030

Published Date:   August 2020

One of the major drivers for the growth of the global aortic valve market is the rising prevalence of aortic stenosis and aortic regurgitation. The most common cause of aortic regurgitation is rheumatic heart disease (RHD). According to the World Health Organization (WHO), approximately 2% of the population with cardiovascular diseases has RHD; in other words, around 33 million people around the world are affected by RHD. Thus, the growing incidence of RHD is one of the key factors which is projected to positively impact the market growth in the following years. Due to these factors, the market is expected to generate $29,146.9 million revenue by 2030, progressing at a CAGR of 13.2% during the forecast period (2020–2030).

On account of the ongoing COVID-19 pandemic, the aortic valve market has witnessed a significant negative impact across the world. This has led to the reduced trade of a number of products, including aortic valve. Moreover, the COVID-19 pandemic has put health services under a mounting pressure, with an increasing number of infected individuals. The decision on whether to perform cardiac surgery or not became difficult, owing to the continued escalation in COVID cases and limited number of hospital beds.

Sutureless Category Is Expected To Witness Faster Growth throughout Forecast Period

The aortic valve market is classified into sutured and sutureless, on the basis of suture type. The market for sutureless aortic valves is projected to witness significant growth during the forecast period. This can be mainly ascribed to fact that, as sutureless aortic valves do not involve the use of sutures during their replacement, the procedure results in a reduction in cross-clamping and cardiopulmonary bypass (CPB) duration and facilitates a minimally invasive process and complex cardiac interventions, while maintaining satisfactory hemodynamic outcomes and low paravalvular leak rates.

Further, the aortic valve market, on the basis of procedure, is categorized into minimally invasive surgery (MIS) and open surgery. The MIS category accounted for the majority of the revenue in the market in 2019, and it is expected to witness the faster growth during 2020–2030. Minimally invasive aortic valve replacement is majorly done using the transfemoral approach, which is enabled by the large diameter of the artery, which lets the catheter pass through it easily. Therefore, transfemoral aortic valve replacement (TF-AVR) accounted for the majority share under the MIS procedure category in 2019.

Globally, Europe is expected to be the fastest-growing region in the aortic valve market during the forecast period. This would mainly be due to the increasing prevalence of aortic stenosis in Western European countries, as per the data published by the European Heart Journal. Surgical valve replacement and transcatheter aortic valve replacement (TAVR) are some of the common treatments recommended for aortic stenosis. Thus, the increasing treatment rate, owing to the growing prevalence of heart diseases, is one of the factors driving the market.

Strategic Partnerships Are Strongest Measure Taken by Players in Market

Players in the aortic valve market are consistently focusing on strategic partnerships, business mergers, trials and approvals, and product launches, to remain competitive. For example, in March 2020, Admedus Limited announced the first implantation of its ADAPT treated single-piece 3D aortic valve in a patient with aortic stenosis. The Admedus single-piece 3D aortic valve combines an advanced design with the already-in-use APAPT tissue technology.

In August 2019, Boston Scientific Corporation announced the completion of its acquisition of BTG plc, pursuant to the previously announced scheme of arrangement. BTG plc develops and commercializes products used in minimally invasive procedures targeting cancer and vascular diseases, as well as specialty pharmaceuticals.

In March 2019, Edwards Lifesciences Corporation announced its investment of $35 million in an exclusive right to acquire Corvia Medical Inc., a developer of a transcatheter device designed to treat heart failure with preserved or mid-range ejection fraction.

Some of the major players operating in the global aortic valve market are Boston Scientific Corporation, Edwards Lifesciences Corporation, CryoLife Inc., Medtronic plc, LivaNova PLC, and Abbott Laboratories.