The global open surgery heart valves market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Key factors providing impetus to market revenue growth are various benefits of less invasive methods over standard operations, rising geriatric population, increasing cases of patients suffering from structural heart disease, and rising investments in development and commercialization of heart valve therapies.
When one or more heart valves fail to open and shut correctly, heart valve disease develops. This disease can impair capacity of heart to pump blood. Heart valve disease can be congenital (present from birth) or acquired later in life as a result of infections, ageing, calcific degeneration, heart attacks, heart disease, or other injuries. Regurgitation (incompetence) and stenosis are two most common disorders that cause blood flow to be disrupted through valves (narrowing). Some valve issues are mild and require no treatment, while others may necessitate use of medications, lifestyle modifications, and/or surgical procedures to repair or replace the valve. Advanced heart valve disease can lead to stroke, heart failure, blood clots, or death from abrupt cardiac arrest in patients if open surgery heart valves procedures are not performed on time.
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Repair or replacement of a damaged heart valve caused by heart valvular disease is known as heart valve repair and replacement. Heart valves close and open in response to pressure and flow variations inside the heart. Open-heart surgery is traditionally performed to repair or replace heart valves. This entails making a big hole in the chest and immobilizing heart for a period of time so that the surgeon may repair or replace the valve. To replace or repair heart valves, newer, less intrusive methods have been developed. Minimally invasive techniques result in smaller incisions, less discomfort, and shorter hospital stays.
Major Factors Driving Growth Of The Global Open Surgery Heart Valves Market:
Revenue growth of global open surgery heart valves market is significantly driven by aging population, rising cases of patients suffering from structural heart disease, investments in development and commercialization of heart valve therapies, technological advancements in diagnostic technologies, high diagnosis rate, rising awareness about new treatment solutions, and increasing incidences of congenital heart defects as well as other cardiovascular diseases. High intake of saturated trans-fat foods has resulted in a number of cardiovascular illnesses, along with supportive government initiatives to promote health awareness are expected to drive demand for open surgery heart valves therapies globally.
Factors Restraining Growth Of The Global Open Surgery Heart Valves Market:
The global open surgery heart valves market growth is substantially hampered by several unfavorable factors. High cost of equipment and operations as well as complicated regulatory procedures, and varying regulatory stringency are some key factors negatively impacting market revenue growth to a certain extent.
Opportunities For Players Operating In The Global Open Surgery Heart Valves Market:
Companies in this market are concentrating on R&D activities to introduce a variety of innovative and technologically sophisticated equipment to ensure heart valve operations are safer and more effective, as well as to improve their market positions. Minimally invasive surgical methods have been developed as a result of continuous innovation. For example, FDA-approved transcatheter aortic valve implantation (TAVI) or transcatheter aortic valve replacement (TAVR) is a new technique for patients with symptomatic aortic stenosis who are at a high risk of undergoing traditional valve replacement surgery. In addition to product innovation, firms in this industry are relying on acquisitions as a major strategy to improve their market positions and go ahead of their competition.
Global Open Surgery Heart Valves Market Revenue Led By Valve Type Segment:
Based on product type, the tissue valve segment is expected to reach the highest revenue share over the forecast period. The introduction of bioprosthetic valves, which provide benefits such as flexibility, strength, and elimination of need for anticoagulants, has resulted in a majority market share for tissue valves. Furthermore, mechanical valves were linked to thromboembolic problems, resulting in a faster rate of tissue valve segment development.
Global Open Surgery Heart Valves Market Leading End-Use Segment:
Based on end-use, the hospitals segment is expected to dominate all other segments in terms of revenue generation over the forecast period. The development of hospital segment is mostly due to an increase in number of treatments performed in hospitals, favorable health reimbursement policies, and improved government recommendations for care of vulvar disorders. In addition, increasing healthcare spending and rising disposable income of middle class families is another factor expected to drive demand for this segment going ahead. Due to rising number of private practitioners and unmet patient demands, the growth of specialty clinics and other categories is expected to accelerate.
North America Accounts For Largest Revenue Share In Global Open Surgery Heart Valves Market:
Among regional markets, North America emerged as the largest market for open surgery heart valves in 2020, with the highest revenue share. Revenue growth in the North America market is mainly attributed to rising ageing population and incidence of valvular heart disorders, attractive reimbursement scenarios, and increasing product approval rate for heart valves. To increase their market presence and strengthen their distribution networks, majority of the top companies in this region are concentrating on marketing and promotional activities, product launches and approvals, acquisitions, partnerships, collaborations, and expansions.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
The Asia Pacific open surgery heart valves market is expected to register the fastest growth in CAGR over the forecast period. Increasing healthcare expenditures, supportive government programs to promote healthcare awareness, and rapid improvement in healthcare infrastructure in emerging countries such as India and China are major factors driving market growth. In addition, rising prevalence of chronic and lifestyle-related illnesses is another factor positively contributing to market growth in this region.
Major Companies Profiled In The Report:
- Abbott Vascular Inc.
- Arterius Ltd
- Cardionovum GmbH
- Aneuclose LLC
- Inspire MD
- Boston Scientific Corporation
- Japan Stent Technology Co
- Gaudi Vascular
- Edwards Lifesciences Corporation
Strategies And Objectives Of Major Companies:
- In June 2020, Edwards Lifesciences Corporation announced that the Edwards SAPIEN 3 transcatheter heart valve received Chinese regulatory approval for treatment of patients with severe, symptomatic aortic stenosis (AS) who are unable to undergo open-heart surgery or for whom such invasive procedures are considered highly risky.
- In 2020, Abbott announced its position as a second-largest company in cardiac surgery in the United States. With its MitraClipTM, the firm is the only contender in transcatheter mitral valve repair (TMVR) industry. Following the approval of device for secondary mitral regurgitation, demand for open surgery heart valves procedures is expected to experience significant boost. Abbott is also a market leader in occlusion devices for structural heart defects.
- In December 2019, CryoLife, Inc. announced that its business is divided into two segments such as products and preservation services. The company\’s main products are On-X Ascending Aortic Prosthesis and On-X Prosthetic Heart Valves.
What Our Report Provides And Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, the global open surgery heart valves market is segmented on the basis of valve type, procedure, end-use, and region:
Valve Type Outlook (Revenue, USD Billion; 2023-2032)
Procedure Outlook (Revenue, USD Billion; 2023-2032)
- Open Surgery
- Minimally Invasive Surgery (MIS)
- Transfemoral Aortic Valve Replacement (TF-AVR)
- Transapical Aortic Valve Replacement (TA-AVR)
End-Use Outlook (Revenue, USD Billion; 2023-2032)
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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