Cardiac Valve Market Size, Share & Trends Analysis Report By Treatment (Cardiac Wall Repair, Cardiac Wall Replacement, Others), By Type (Mechanical Valves, Tissue/Bioprosthetic Valves, Transcatheter Heart Valves/Percutaneous Heart Valves, Others), By Valve Position (Mitral Valve, Aortic Valve, Other Position), By End-User (Hospital and Clinics, Specialty Centers, Cardiac Research Institute, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global cardiac valve market size was valued at USD 7.64 billion in 2023. It is estimated to reach USD 13.35 billion by 2032, growing at a CAGR of 6.4% during the forecast period (2024–2032). The rising prevalence of heart disease, combined with an aging population, has resulted in increased demand for cardiac valve replacement and repair procedures. Moreover, advances in medical technology, such as the development of transcatheter aortic valve replacement (TAVR) and minimally invasive surgical techniques, have increased the accessibility and effectiveness of cardiac valve procedures.

The cardiac valve is a crucial component of the cardiovascular system, playing an essential role in maintaining optimal blood flow within the heart's chambers. This specialized valve acts as a meticulous regulator, ensuring precise management of blood circulation. When a natural heart valve becomes damaged or dysfunctional, a cardiac valve replacement procedure becomes necessary to restore normal heart function. The replacement valve is designed as a unidirectional device equipped with sophisticated features that effectively control the direction and pressure of blood flow. This ensures that blood circulates efficiently and reaches all areas of the body that require oxygen and nutrients.

Highlights

• Cardiac wall repair dominates the treatment segment
• The mitral valve dominates the type segment
• Tissue/bioprosthetic valves dominate the valve position segment
• North America is the highest shareholder in the global market

Market Dynamics

Global cardiac valve market drivers:

Rising geriatric population

The rising geriatric population is a significant driver for the global cardiac valve market. According to the United Nations World Population Ageing Report, the global population aged 60 and above is projected to reach 1.6 billion by 2024, up from 1.5 billion in 2023 and 1.4 billion in 2022. This aging demographic is increasingly vulnerable to cardiovascular diseases, including valvular heart disorders that often necessitate valve replacement or repair.

Data from the American Heart Association (AHA) indicates that the prevalence of valvular heart disease among adults aged 65 and older in the United States rose by 8% in 2023, compared to 6% in 2022. Similarly, the European Society of Cardiology (ESC) reported a 12% increase in valve replacement surgeries for patients aged 75 and above in Europe in 2023, up from 9% in 2022.

Moreover, the growing prevalence of these conditions has driven advancements in cardiac valve technologies. Innovations such as transcatheter valve replacement systems and minimally invasive surgical techniques have been developed to address the specific needs of elderly patients, offering improved outcomes and shorter recovery times.

Increasing popularity of minimally invasive surgeries

The increasing popularity of minimally invasive surgeries is a major driver for the global cardiac valve market. According to the Society of Thoracic Surgeons (STS), the number of minimally invasive cardiac valve procedures performed in the United States rose by 18% in 2023, compared to 14% in 2022. This trend is attributed to the numerous advantages of minimally invasive techniques, including smaller incisions, reduced blood loss, faster recovery times, and lower risk of complications.

The American Association for Thoracic Surgery (AATS) reported a significant increase in the adoption of transcatheter aortic valve replacement (TAVR) procedures, with the adoption rate rising from 62% in 2022 to 72% in 2023. Similarly, the European Association for Cardio-Thoracic Surgery (EACTS) observed a 21% increase in minimally invasive mitral valve repair surgeries performed in Europe in 2023, up from 15% in 2022. This growing preference for minimally invasive approaches has driven the development and commercialization of specialized cardiac valve devices and delivery systems.

Moreover, major medical device companies have made substantial investments in this area, with Boston Scientific reporting a 27% increase in sales of its TAVR products in 2023 compared to 2022. The shift towards minimally invasive surgeries is significantly impacting the cardiac valve market, fostering innovation and expanding the availability of advanced, patient-friendly treatment options.

Global cardiac valve market restraint:

Stringent government regulations

Stringent government regulations are a significant restraint on the growth of the global cardiac valve market. According to the Medical Device Regulatory Affairs Professionals Society (RAPS), the average time required for premarket approval (PMA) of high-risk medical devices, such as cardiac valves, increased by 11% in 2023, reaching 275 days compared to 248 days in 2022. This extended approval process can delay the commercialization of new and innovative cardiac valve products.

In addition, the European Union's Medical Device Regulation (MDR), which came into full effect in 2023, has resulted in a 23% increase in the number of clinical studies required for cardiac valve devices, as reported by the European Medical Device Industry Association (MedTech Europe). This additional regulatory burden has raised the costs and extended the timelines associated with bringing new products to market.

Moreover, the Cardiac Valve Society (CVS) reported a 9% increase in the number of product recalls and safety alerts for cardiac valve devices in 2023. This reflects the heightened scrutiny and stringent quality control measures imposed by regulatory bodies, creating challenges for manufacturers in maintaining compliance and ensuring an uninterrupted supply. These stringent regulations contribute to increased development costs, extended timeframes for market entry, and greater compliance challenges, which can hinder the cardiac valve market growth.

Global cardiac valve market opportunities:

Growing awareness of disease diagnosis among people

The growing awareness of disease diagnosis among people presents a significant opportunity for the global cardiac valve market. As awareness increases, more individuals are seeking timely medical attention and undergoing screening tests, leading to the early detection of cardiac valve disorders. According to the American Heart Association, an estimated 5.7 million adults in the United States had heart valve disease in 2023, with this number projected to rise to 6.1 million by 2024.

Moreover, the Centers for Disease Control and Prevention (CDC) reports that approximately 25,000 valve repair and replacement procedures were performed in the United States in 2023, with this number expected to increase to 27,500 in 2024. This rising awareness has also prompted healthcare providers to adopt advanced diagnostic techniques, such as echocardiography and cardiac catheterization, enabling more accurate and efficient diagnosis of valve-related conditions. This increased focus on early detection and diagnosis drives the demand for innovative cardiac valve technologies.

As a result, the market is positioned for substantial growth, with a heightened emphasis on developing and commercializing advanced diagnostic and treatment options to meet the growing needs of an informed and proactive patient population.

Regional Analysis

Based on region, the global cardiac valve market share is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North america dominates the global market 

North America holds the largest market share globally and is expected to expand substantially during the forecast period. This growth is driven by the high prevalence of cardiovascular diseases, a well-established healthcare infrastructure, and the presence of major market players. According to the American Heart Association, cardiovascular diseases accounted for approximately 877,500 deaths in the United States in 2023, underscoring the significant burden of these conditions and the consequent demand for advanced cardiac valve products. The Centers for Disease Control and Prevention report that over 91,000 inpatient valve procedures were performed in the United States in 2022, with this number expected to reach 97,000 by 2024, reflecting the increasing need for cardiac valve interventions.

North America's well-developed healthcare system, featuring advanced diagnostic and treatment facilities, has facilitated the early detection and management of cardiac valve disorders, driving the adoption of innovative cardiac valve products. For instance, the Cleveland Clinic, renowned for its cardiovascular care, routinely performs cutting-edge valve replacement surgeries. Moreover, the presence of major market players such as Edwards Lifesciences, Medtronic, and Abbott Laboratories, coupled with their significant investments in research and development, has solidified North America's dominance in the cardiac valve market. These companies continuously introduce new and advanced products, such as Edwards Lifesciences' Sapien 3 Ultra valve and Medtronic's Evolut PRO+ TAVR system, catering to the diverse needs of patients and healthcare providers in the region.

Segmental Analysis

The global cardiac valve market is bifurcated into treatment, type, valve position, and end-user.

Based on the treatment, the global market is divided into cardiac wall repair, cardiac wall replacement, and others.

The cardiac wall repair segment is the leading contributor to market share and is expected to grow significantly during the forecast period. This segment focuses on repairing or reconstructing the heart's damaged or structurally abnormal walls, encompassing a range of devices and procedures tailored for this purpose. Key conditions addressed include ventricular septal defects, atrial septal defects, and various forms of wall damage.

Moreover, innovative methodologies, protocols, and apparatuses are continuously being developed to address structural irregularities within the cardiac walls. These advancements provide effective treatment alternatives, enhancing cardiac function and overall cardiovascular well-being. The ongoing progress and increasing adoption of cardiac wall repair techniques are major drivers of the segment's notable growth.

Based on the type, the global market is divided into mechanical valves, tissue/bioprosthetic valves, transcatheter heart valves/percutaneous heart valves, and others.

The tissue/bioprosthetic valves segment holds the largest market share and is anticipated to grow significantly during the forecast period. These valves, made from animal tissue such as cows or pigs, are chemically treated to be suitable for implantation. Tissue valves are favored for patients who cannot tolerate long-term anticoagulation therapy, as they do not require lifelong blood-thinning medications like mechanical valves. They offer excellent hemodynamic performance and have a lower risk of thromboembolic events. However, tissue valves have a shorter lifespan compared to mechanical valves and may eventually need replacement. The growing preference for tissue valves, driven by their advantages in patient compatibility and safety, is fueling their market expansion.

Based on the valve position, the global market is divided into mitral valve, aortic valve, and other positions.

The mitral valve segment dominates the global market and is expected to grow substantially over the forecast period. This growth is driven by the rising incidence of cardiovascular diseases, influenced by factors such as smoking, obesity, sedentary lifestyles, and stress. The increased prevalence of these risk factors has heightened the demand for mitral valve replacements. The mitral valve plays a crucial role in maintaining optimal blood circulation within the heart, making its proper function vital for cardiovascular health. Consequently, the market for mitral valves has expanded significantly, offering efficient treatment options for patients with cardiovascular conditions.

Based on the end-user, the global market is divided into hospitals and clinics, specialty centers, cardiac research institutes, and others.

The hospital and clinics segment holds the largest market share and is expected to grow substantially during the forecast period. This growth is driven by increased government investment, a rise in hospital procedures, and improved cardiovascular disease management. Enhanced funding has facilitated the expansion of hospitals and clinics, allowing them to offer advanced cardiac valve procedures. The growing number of valve replacements and repairs performed in hospitals has further bolstered the segment's dominance. Moreover, the emergence of specialized cardiac care clinics has significantly contributed to market growth. These factors, along with advancements in cardiac care technologies, have positioned the hospital and clinics segment prominently within the industry.

Recent Developments

May 2024-A Chennai hospital successfully implanted a globally acclaimed heart valve in a septuagenarian patient, highlighting the advancements in cardiac valve technology. This development demonstrates the growing demand for innovative cardiac valve solutions in the Global Cardiac Valve Market, driven by the increasing prevalence of heart diseases and the need for effective treatment options.

April 2024- A UC Davis cardiology team performed a novel heart artery repair using a newly approved device. This innovative technology could revolutionize the Global Cardiac Valve Market by providing a less invasive and more effective treatment option for patients with heart diseases, driving growth and innovation in the industry.