Aortic Valve Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Valve Type (Tissue/Biological Type, Mechanical); Suture Type (Sutured, Sutureless); Procedures (Open Surgery, Minimally invasive surgery); End-Users (Hospitals, Ambulatory Surgical Centers); Region/Country
Detailed Analysis of COVID-19 Impact on the Aortic Valve Market
Global Aortic valve Market is anticipated to grow with an elevated CAGR of around 13% over the forecast period (2021-2027). The aortic valve allows blood to flow in the right direction in the heart. It separates the main pump chamber of the heart (left ventricle) from the main arteries that supply the body with oxygen-rich blood (aorta). Each time the ventricle contracts, the aortic valve opens, allowing blood to flow from the left ventricle to the aorta. When the ventricles relax, the aortic valve closes and prevents blood from flowing back into the ventricles.
The growing prevalence of heart valve disease coupled with the rising geriatric population is another factor contributing to the growth of the aortic valve market. For instance, according to the United Nations, In 2019, 13.2% of the worldwide population was aged 60 years or above. Further, it is anticipated that nearly 21.4% of the total worldwide population will be aged 60 years or over by 2050. In view of these facts, there is a rising prevalence of aortic regurgitation which creates the need for heart valve replacement which in turn is driving the aortic valve market globally.
Furthermore, The rising worldwide demand for the aortic valve is because of the increase in valvular diseases globally. For instance, as per CDC, About 2.5% of the U.S. population has valvular heart disease, but it is more common in older adults. About 13% of people born before 1943 have valvular heart disease. However, some of the restraints in the market include stringent regulatory framework and product failure and recalls are impeding the growth of this market all over the world.
Boston Scientific Corporation, Edwards Lifesciences Corporation, CryoLife Inc., Medtronic plc, LivaNova PLC, Abbott Laboratories, JenaValve Technology Inc., Thubrikar Aortic Valve Inc., LifeNet Health Inc., Coroneo Inc, are some of the prominent players operating in the aortic valve market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with aortic valves.
Insights Presented in the Report
“Amongst Valve Type, Tissue/Biological segment holds the major share”
Based on valve type, the market is bifurcated into tissue/biological type and mechanical type. The tissue/biological type segment occupied the major share of the artificial blood vessels market in 2020 and it is expected to grow with a substan]ial CAGR in the upcoming years owing to the various advantages associated with this type of valve such as avoiding lifelong warfarin therapy to prevent the formation of blood clots, long-term durability, and free from reoperation for valve degeneration. Owing to this, many key industry players are launching new and advanced products in the market. For example, in September 2021, Abbott announced that the FDA has approved the company’s Epic Plus and Epic Plus Supra Stented Tissue Valves to improve therapy options for people with aortic or mitral valve disease.
“Amongst Suture Type, Sutureless segment holds the major share”
Based on suture type, the aortic valve market is bifurcated into sutured and sutureless. The sutureless segment occupied the major share of the aortic valve market in 2020 and it is expected to grow with a substantial CAGR in the upcoming years owing to its reduced duration of cross-clamp and cardiopulmonary bypass (CPB) procedures compared to sutured valves.
“Amongst Procedure, Minimally Invasive Surgery segment holds the major share”
Based on the procedure, the market is bifurcated into open surgery and minimally invasive surgery. The minimally invasive surgery segment occupied the major share of the aortic valve market in 2020 and it is expected to grow with a substantial CAGR in the upcoming years as minimally invasive surgery causes less trauma to the patients and facilitates faster recovery than open-heart surgery as the geriatric population takes more time to get recover from surgery.
“Amongst End-Users, hospitals segment holds the major share”
Based on end-users, the market is fragmented into hospitals, and ambulatory surgical centers. In 2020, hospitals segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the increasing construction of hospitals and a surge in the number of heart surgeries in the hospital setting. However, ambulatory surgical centers are also likely to witness the fastest growth during the forecast period.
“Europe represents one of the largest markets of aortic valve market”
For a better understanding of the market dynamics of the aortic valve market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. Europe constitutes a major market for the aortic valve market industry and generated revenue of USD XX Million in 2020 owing to strong healthcare infrastructure and growing adoption of the aortic valve in the region.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Aortic Valve Market|
|2.2.||Research Methodology of the Aortic Valve Market|
|2.5.||Main Objective of the Aortic Valve Market Study|
|5||AORTIC VALVE MARKET COVID-19 IMPACT|
|6||AORTIC VALVE MARKET REVENUE, 2019-2027F|
|9.2.||Minimally Invasive Surgery|
|10.2||Ambulatory Surgery Centers|
|11.1.3||Rest of North America|
|11.2.6||Rest of Europe|
|11.3.5||Rest of Asia-Pacific|
|11.4||Rest of World|
|13||AORTIC VALVE MARKET OPPORTUNITIES|
|14||AORTIC VALVE MARKET TRENDS|
|15||LEGAL & REGULATORY FRAMEWORK|
|16.1||Demand Side Analysis|
|16.2||Supply Side Analysis|
|16.2.1||Top Product Launches|
|16.2.2||Top Business Partnerships|
|16.2.3||Top Business Expansions|
|16.2.4||Top Merger and Acquisitions|
|17||VALUE CHAIN ANALYSIS|
|18.1||Porter’s Five forces analysis|
|18.1.1||Bargaining power of Supplier|
|18.1.2||Bargaining power of Buyer|
|18.1.4||Availability of Substitute|
|18.1.5||Threat of new Entrants|
|19.1||Boston Scientific Corporation|
|19.2||Edwards Lifesciences Corporation|
|19.7||JenaValve Technology Inc.|
|19.8||Thubrikar Aortic Valve Inc.|
|19.9||LifeNet Health Inc.|
Research Methodology for the Global Aortic Valve Market Analysis (2021-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global aortic valve market were the three major steps undertaken to create and analyze the adoption of aortic valve in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global aortic valve market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the aortic valve through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the aortic valve market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report valve type, suture type, procedure, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of aortic valve across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the artificial blood vessels. Further, we conducted factor analysis using dependent and independent variables such as growing advancements in technology and the increasing prevalence of aortic diseases. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the aortic valve sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the aortic valve market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of aortic valve across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the aortic valve market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the aortic valve market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of valve type, suture type, procedure, and end-users of the aortic valve market.
The main objective of the Aortic Valve Market Study
The current & future market trends of aortic valve were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of aortic valve in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of valve type, suture type, procedure, and end-users
- Define and analysis of the regulatory framework for the aortic valve industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the aortic valve market for the major region
- Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the world
- Company profiles of the aortic valve market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry