Report Code : A27615
Increasing prevalence of cardiovascular and valvular heart diseases, particularly among the aging population, which raises the demand for valve replacement therapies and rise in R&D activities are the major factors which fuel the growth of the North America prosthetic heart valve market.
According to Roshan Deshmukh
Manager, Healthcare at Allied Market Research
The North America prosthetic heart valve market size was valued at $3.5 billion in 2023, and is projected to reach $9.8 billion by 2033, growing at a CAGR of 10.7% from 2024 to 2033. Prosthetic heart valves are critical medical devices designed to replace damaged or diseased natural valves within the heart. These prosthetic valves, which include mechanical, biological, and transcatheter varieties, are used in surgical procedures to treat conditions such as aortic stenosis, mitral regurgitation, and other valvular heart diseases. North America prosthetic heart valve industry is driven by factors such as the increasing prevalence of cardiovascular diseases, advancements in minimally invasive surgical techniques, and an aging population. It also benefits from strong healthcare infrastructure, patient awareness, and favorable reimbursement policies in the region.
The North America prosthetic heart valve market growth is primarily driven the increase in prevalence of lifestyle-related risk factors such as obesity, diabetes, and hypertension, which contribute to heart valve diseases, has driven healthcare providers to adopt more proactive screening and early intervention strategies. These strategies often involve the use of prosthetic valves as a preventive measure or as part of a comprehensive treatment plan, thereby broadening the market's scope. The integration of digital health technologies, including AI-driven diagnostics and remote monitoring systems, into cardiac care has also played a role in boosting the growth during North America prosthetic heart valve market forecast period. These technologies facilitate early detection of valve-related issues and enable more personalized treatment plans, ensuring that patients receive timely and appropriate care, which often includes prosthetic valve implantation.
In addition, North America prosthetic heart valve market trends include the rise in clinical trials and research collaborations aimed at optimizing valve designs and expanding the indications for their use, such as in younger patients or those with complex cardiac conditions, further supports market expansion. However, the potential for complications such as valve degeneration, thrombosis, or infection, despite advancements in technology, remains a concern that may deter some patients and healthcare providers from opting for valve replacement which may limits the market growth. On the other hand, advances in minimally invasive technologies, such as TAVR, open new possibilities for treating patients who are ineligible for traditional surgery, thereby broadening the market. In addition, increasing investment in R&D aimed at creating more durable and biocompatible valves offers potential for innovation and market expansion.
The North America prosthetic heart valve market size is segmented on the basis of product and country. 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 segment accounted for largest North America prosthetic heart valve market share in 2023 and is expected to remain dominant during forecast period, owing to its minimally invasive nature, which offers reduced recovery times and lower procedural risks compared to traditional open-heart surgeries. On the basis of country the market is classified into U.S., Canada, and Mexico.
Abbott Laboratories, Artivion, Inc, Anteris Technologies Ltd, Boston Scientific Corporation, Edward Lifesciences Corporation, Jenavive Technology, Inc., Colibri Heart Valve, Medtronic plc, Meril Life Sciences Pvt. Ltd., Shock Wave Medical, Inc. are the key players operating in the North America prosthetic heart valve industry. These key players adopt strategies such as product approval, agreement and others to expand the portfolio. For instance, in October 2021, Boston Scientific Corporation announced that it has entered into a definitive agreement to acquire Baylis Medical Company Inc. The acquisition will allow Boston Scientific to expand its product offerings in electrophysiology and structural heart areas, by adding Baylis' radiofrequency NRG and VersaCross Transseptal Platforms, along with guidewires, sheaths, and dilators used for left heart access.
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North America Prosthetic Heart Valve Market by Product (Tissue Heart Valve, Mechanical Heart Valve, Transcatheter Heart Valve) , : Opportunity Analysis and Industry Forecast, 2024-2033
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