Prosthetic Heart Valve Artificial Heart Valve Market Size, Share, Industry Trends and Forecast to 2030

Prosthetic Heart Valve Artificial Heart Valve Market Size & CAGR in 2021

The global prosthetic heart valve artificial heart valve market is estimated to have a market size of USD 5.6 billion in 2021. With a compound annual growth rate (CAGR) of 4.2%, the market is projected to reach USD 7.2 billion by the end of 2021. The increasing prevalence of heart diseases and the growing geriatric population are major factors contributing to the market growth.

COVID-19 Impact on the Prosthetic Heart Valve Artificial Heart Valve Market

The COVID-19 pandemic has had a mixed impact on the prosthetic heart valve artificial heart valve market. On one hand, the increased focus on healthcare and the rising incidence of cardiovascular diseases due to the virus have driven the demand for prosthetic heart valves. On the other hand, disruptions in the supply chain and reduced elective surgeries during the pandemic have hindered market growth to some extent.

Prosthetic Heart Valve Artificial Heart Valve Dynamics

The prosthetic heart valve artificial heart valve market is driven by factors such as the increasing prevalence of cardiovascular diseases, technological advancements in heart valve replacement procedures, and the growing adoption of minimally invasive surgeries. However, factors like high costs associated with prosthetic heart valve implants and the risk of complications post-surgery are restraining market growth.

Segments and Related Analysis

The prosthetic heart valve artificial heart valve market can be segmented based on valve type, material, end-user, and region. The market is further analyzed based on factors such as market share, growth rate, and emerging trends within each segment.

By Region Analysis

Geographically, the prosthetic heart valve artificial heart valve market is divided into regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Each region has its own dynamics and market drivers influencing the growth of the prosthetic heart valve market.

Key Market Players and Competitive Landscape

Key market players in the prosthetic heart valve artificial heart valve market include Edwards Lifesciences Corporation, Medtronic plc, Boston Scientific Corporation, LivaNova PLC, and Abbott Laboratories, among others. These players engage in strategies such as product launches, collaborations, and acquisitions to maintain their market position.

Recent Happenings in the Prosthetic Heart Valve Artificial Heart Valve Market

In recent developments, there has been increasing research and development in innovative heart valve technologies, advancements in minimally invasive surgical procedures, and a focus on improving patient outcomes post-surgery. These trends are shaping the future of the prosthetic heart valve artificial heart valve market.