Aortic valve is one of the two main valves on the left side of the heart and is the outflow valve for the left ventricle. It opens and closes to regulate the blood flow and prevents the backward flow of the blood into the heart. Aortic valve replacement is done when the functioning of the aortic valve is affected. It is a procedure of replacing the non-functioning valve with an artificial heart valve. The prosthetic or artificial valve employed may be made of synthetic materials or from animal tissues. Heart diseases that lead to aortic valve replacement include aortic stenosis and aortic regurgitation. Aortic stenosis is the condition where the aortic valve is narrowed, obstructing the flow of blood. Aortic regurgitation is a condition where in the valve is leaky and allows the reverse flow of blood back into the heart. Aortic valve malfunctioning can result from the congenital abnormality or from an age-related acquired disease. The source of the artificial valve used, includes mechanical valves, which are created from man-made materials; and tissue valves, which are created from pig, cow, or human donors.
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The aortic valve replacement market can be segmented based on the type of surgery, product, end user, and geography. Based on the type of surgery done to replace the faulty aortic valve, the market can be segmented into open aortic valve surgery and minimally invasive aortic valve surgery. Minimally invasive surgeries include aortic valve balloon valvuloplasty, transcatheter aortic valve implantation (TAVI), and sutureless aortic valve replacement, among others. On the basis of products, the market can be segmented as stented valves and stentless valve prostheses. Hospitals, ambulatory surgical centers and cardiac catheterization laboratories form the major end-users for the market. Geographically, the aortic valve replacement market can be segmented into North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.
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Aortic stenosis is the most common type of valvular disease observed which is driving the aortic valve replacement market. In addition, changing lifestyles, leading to obesity; increasing cardiovascular diseases, growing health awareness, and increasing global geriatric population also contribute to the growth of the aortic valve replacement market. Furthermore, minimally invasive surgeries are driving the market, owing to their benefits such as low risk of infection, lesser need for blood transfusion, faster healing and recovery, reduced hospital stay, and less pain, among others. The increasing clinical trials that would lead to the introduction of new products in the market would also positively contribute to the market growth. The risks associated with the replacement procedures, high costs, and growing regulations related to product approvals, would negatively impact the aortic valve replacement market.
TAVI, and aortic valve replacement employing a tissue valve, are the common techniques used for aortic valve replacement. In terms of geography, North America had the largest share in the aortic valve replacement market followed by Europe due to the increasing obesity and growing geriatric population in the region. The rising technological advances, growing clinical trials for the same, and government support are expected to contribute to the positive growth of aortic valve replacement market in these regions. The emerging markets in Asia Pacific are expected to record strong growth during the forecast period due to the growing healthcare industry, increase in the aging population, and growing healthcare awareness.
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The leading players in the aortic valve replacement market include Boston Scientific Corporation, CryoLife Inc., Edwards Lifesciences Corporation, LivaNova plc, Medtronic plc, St. Jude Medical, Inc., and Symetis SA, among other significant players worldwide.
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