Global Prosthetic Heart Valve Market Size (2024 - 2029)

Prosthetic Heart Valve Market Analysis

The Global Prosthetic Heart Valve Market size is estimated at USD 11.94 billion in 2024, and is expected to reach USD 20.86 billion by 2029, growing at a CAGR of 11.80% during the forecast period (2024-2029).

The COVID-19 pandemic is expected to impact the prosthetic heart valve market significantly. COVID-19 disease poses a risk in managing patients with prosthetic heart valves; for instance, as per a February 2021 published article titled "Bioprosthetic Valve Thrombosis Associated With COVID-19 Infection", patients with prosthetic heart valves and endovascular devices may be at risk of thrombotic complications from the COVID-19 disease. Thus, such studies indicate that the demand for prosthetic heart valves was affected as the prosthetic heart valve patients were at risk of developing COVID-19 disease. However, with the introduction of vaccines and the upliftment of lockdown in various countries across the globe, there might be an increase in the number of patients undergoing heart valve placement, thereby expanding the scope of market growth shortly.

Further, the significant factors fueling the market's growth are the increasing prevalence of heart valve disease and rising regulatory approvals for new and advanced prosthetic heart valves. The growing prevalence of heart valve disease is a significant factor driving the market's growth. For instance, as per the World Heart Federation 2022, rheumatic heart disease is a condition that affects 39 million people worldwide. It is a condition in which the heart valves have been permanently damaged by rheumatic fever. Furthermore, as per a January 2022 published article titled "Uncovering the treatable burden of severe aortic stenosis in the UK," the results revealed that in the United Kingdom, in 2019, the prevalence of severe aortic stenosis was 1.48%, including 291,448 men and women aged more than or equal to 55 years. Thus, these statistics indicate that the demand for prosthetic heart valves is anticipated to increase over the coming years, thereby contributing to the market's growth.

However, the high cost of transcatheter aortic valve replacement (TAVR) procedures and the availability of alternative methods for treating heart valve diseases (HVD) are hindering the market's growth.

Prosthetic Heart Valve Industry Segmentation

As per the scope of this report, the prosthetic heart valve is a device implanted in a patient suffering from valvular heart disease, which results in the malfunction of one or more valves present in the human heart. The treatment for such disease includes replacing a natural heart valve with a prosthetic heart valve, thus decreasing the mortality and morbidity related to cardiac valve disorders. The market is segmented by Type of Valve (Mechanical Heart Valve, Bioprosthetic Heart Valve, and Transcatheter Heart Valve), By Position (Mitral Valve, Aortic Valve, and Other Positions), and by Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across significant global regions. The report offers the value (USD million) for the above segments.