India Prosthetic Heart Valve Market Research, 2033
The India prosthetic heart valve market size was valued at $159.9 million in 2023, and is projected to reach $519.7 million by 2033, growing at a CAGR of 12.5% from 2024 to 2033. A prosthetic heart valve is an artificial device surgically implanted to replace a malfunctioning heart valve, which can be due to conditions such as valve stenosis or regurgitation. These valves are designed to mimic the function of natural heart valves, ensuring unidirectional blood flow through the heart. Prosthetic heart valves in India come in two main types: mechanical, made from durable materials, and bioprosthetic, made from animal tissues. Both types are critical in managing heart valve diseases and improving patient outcomes.
Key Market Dynamics
India prosthetic heart valve market growth driven by the increasing prevalence of cardiovascular diseases (CVDs) , advancements in medical technology and surgical techniques, and increasing awareness about heart valve diseases. As the incidence of heart valve disorders, such as stenosis and regurgitation, rises, the demand for effective treatment options, including prosthetic heart valves, has significantly increased. Factors such as sedentary lifestyles, unhealthy dietary habits, increasing obesity rates, and a growing aging population contribute to the prevalence of CVDs. As heart valve diseases are a common complication of these conditions, the need for prosthetic heart valves is expected to grow correspondingly which contributes towards the India prosthetic heart valve market growth.
However, the lack of awareness about heart valve diseases, their symptoms, and the available treatment options. This ignorance often leads to delayed diagnoses and interventions, reducing the number of patients who could benefit from prosthetic heart valve procedures thereby limiting the growth during India prosthetic heart valve market forecast period.
India prosthetic heart valve market trends includes the growing adoption of cutting-edge technologies such as Transcatheter Aortic Valve Replacement (TAVR) and other minimally invasive procedures is gaining momentum in India and provides opportunity to the market growth. These innovations offer significant advantages, such as reduced recovery times and lower risks, making them attractive options for both patients and healthcare providers. Companies that invest in developing and introducing these advanced technologies to the Indian market can capitalize on this growing trend.
Market Segmentation
The India prosthetic heart valve market size is segmented on the basis of product. On the basis of product, the market is categorized into mechanical heart valve, tissue heart valve, and transcatheter heart valve. The tissue heart valve segment is further classified into stented tissue heart valve and stent less tissue heart valve. The transcatheter heart valve segment generated the largest revenue in India prosthetic heart valve market share in 2023, owing to significant increase in awareness among patients and physicians about the advantages of transcatheter heart valve procedures. This growing acceptance has driven higher utilization rates, contributing to the segment's revenue growth.
Industry Trends
- In September 2023, India launched a movement for heart health on World Heart Day. Touted as the world's largest primary health care program, it has already started showing results. As of August 2023, 11 million people have been screened for hypertension. Such, increased public awareness and early diagnosis contribute to the demand for prosthetic heart valves.
Competitive Landscape
The key players operating in the India prosthetic heart valve industry are Edwards Lifesciences Corporation, TTK, SMT, Relisys Medical Devices Limited., Medtronic, Heart Care India Co, Boston Scientific Corporation, Meril Life Sciences Pvt. Ltd., P+F Products + Features GmbH, and Abbott Laboratories. These players have adopted various developmental strategies to stay competitive in the market.
Key Benefits for Stakeholders
- Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
- Analyze the key strategies adopted by major market players in India prosthetic heart valve industry.
- Assess and rank the top factors that are expected to affect the growth of India prosthetic heart valve market.
- Top Player positioning provides a clear understanding of the present position of market players.
- Detailed analysis of the India prosthetic heart valve market segmentation assists to determine the prevailing market opportunities.
- Identify key investment pockets for various offerings in the market.
India Prosthetic Heart Valve Market Report Highlights
Aspects | Details |
Market Size By 2033 | USD 519.7 Million |
Growth Rate | CAGR of 12.5% |
Forecast period | 2024 - 2033 |
Report Pages | 90 |
By Product |
|
Key Market Players | P+F Products + Features GmbH, Meril Life Sciences Pvt. Ltd. , Edwards Lifesciences Corporation, Heart Care India Co, Medtronic, SMT, Boston Scientific Corporation, TTK, Relisys Medical Devices Limited., NeoCor CJSC , Abbott Laboratories |
The India prosthetic heart valve market is projected to grow at a CAGR of 12.5 % from 2024 to 2033.
Edwards Lifesciences Corporation, TTK, SMT, Relisys Medical Devices Limited., Medtronic, Heart Care India Co, Boston Scientific Corporation, Meril Life Sciences Pvt. Ltd. , P+F Products + Features GmbH, Abbott Laboratories, NeoCor CJSC are the leading players in India prosthetic heart valve market.
1. Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends. 2. Analyze the key strategies adopted by major market players in India prosthetic heart valve industry. 3. Assess and rank the top factors that are expected to affect the growth of India prosthetic heart valve market. 4. Top Player positioning provides a clear understanding of the present position of market players. 5. Detailed analysis of the India prosthetic heart
For analysis, the India prosthetic heart valve market is segmented on the basis of product.
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