Pulmonary Valve Replacement Market
Number of pages: 100 | Report Format: PDF | Published date: April 19, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 980 million |
|
Market Size Value in 2031 |
US$ 1575.16 million |
|
CAGR |
4.86% |
|
Base Year For Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
|
Segments Covered |
Valve, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global pulmonary valve replacement market was valued at US$ 980 million in 2022 and is expected to register a revenue CAGR of 4.86% to reach US$ 1575.16 million by 2031.
Pulmonary Valve Replacement Market Fundamentals
Patients with damaged pulmonary valves are treated with valve repair and valve replacement surgery. The pulmonary valve regulates blood flow to the lungs and is placed between the left ventricle and the pulmonary artery. The pulmonary valve opens as the right ventricle contracts, allowing oxygen-depleted blood to enter the pulmonary artery.
As the world’s population ages, the prevalence of acquired valvular heart disorders, such as pulmonary valve stenosis or regurgitation caused by degenerative processes, may rise. This could increase the demand for pulmonary valve replacement procedures, as elderly patients may require valve replacement to manage their conditions, creating a market opportunity. Moreover, customized pulmonary valve replacement solutions, such as 3D-printed valves or personalized surgical techniques, are highly trending and offer customized treatment options for patients with complex anatomical variations or unique needs. This presents an opportunity for developing specialized products and services to cater to individual patient requirements, providing a niche market opportunity.
There is a growing demand for pulmonary valve replacement procedures in emerging markets due to increased access to healthcare, improved healthcare infrastructure, and rising awareness about congenital heart defects. This presents opportunities for expansion and market penetration by manufacturers and healthcare providers in these regions. Additionally, the growing demand for healthcare services and products in these regions can lead to new partnerships and collaborations between local and international companies.
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Pulmonary Valve Replacement Market Dynamics
Advances in tissue engineering and regenerative medicine have led to the development of tissue-engineered pulmonary valves. These valves are created by seeding cells onto biodegradable scaffolds and allowing them to grow into functional valves that can be implanted in the patient’s heart. This approach holds great promise for younger patients who may require multiple valve replacements over their lifetime, as it offers the potential for more durable and long-lasting replacements. The minimally invasive procedure may also lead to shorter hospital stays and faster recovery times, greatly benefiting patients and reducing healthcare costs.
Collaborations and partnerships between medical device manufacturers, researchers, and healthcare providers can lead to synergies in research and development efforts, technology integration, and clinical trials, accelerating innovation and market revenue growth in pulmonary valve replacement. Furthermore, these collaborations can improve patient outcomes by ensuring that the latest technologies and treatments are available to those who need them and by facilitating knowledge sharing and best practices among stakeholders in the healthcare industry.
One of the restraining factors for the pulmonary valve replacement market is the high cost associated with the procedure, which may limit its accessibility to certain patient populations. Additionally, there is a need for more skilled professionals in some regions, which can be a challenge for market revenue growth. However, technological advancements and the introduction of minimally invasive procedures are expected to reduce the cost of the pulmonary valve replacement procedure and increase its adoption rate. Moreover, initiatives taken by governments and healthcare organizations to train and educate healthcare professionals in developing regions can help overcome the shortage of skilled professionals.
Pulmonary Valve Replacement Market Ecosystem
The global pulmonary valve replacement market is analyzed from four perspectives: valve, application, end user, and region.
Pulmonary Valve Replacement Market by Valve
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Based on the valve, the global pulmonary valve replacement market is segmented into the biological valve and mechanical valve.
In 2022, the mechanical valve segment dominated the global pulmonary valve replacement market with the largest revenue share. Mechanical valves have a longer lifespan and are less likely to deteriorate than biological valves, making them a better option for younger patients who require pulmonary valve replacement. Furthermore, mechanical valves are a better option for younger patients who may need valve replacement surgery again in the future.
However, the biological valve segment is expected to show significant revenue CAGR during the forecast years. The segment is sub-segmented into the donor valve and tissue valve. Biological valves have been shown to have a lower risk of thromboembolism and do not require lifelong anticoagulation therapy, making them a suitable option for patients who cannot tolerate blood thinners. They have also been found to have better hemodynamic performance and longer durability than mechanical valves. Moreover, studies have shown that using donor valves in pulmonary valve replacement surgery has high efficacy and low complications. However, long-term follow-up studies are still needed to determine the durability and longevity of these donor valves. Furthermore, tissue valves in pulmonary valve replacement are often preferred due to their lower risk of blood clots and the need for lifelong anticoagulation therapy. Long-term blood thinners will not be required for a person who has a tissue valve implant. Tissue valves are not as durable as mechanical valves. A replacement may be required after 10-20 years, especially for younger persons.
Pulmonary Valve Replacement Market by Application
Based on the application, the global pulmonary valve replacement market is segmented into pulmonary valve stenosis, pulmonary atresia, and others.
The pulmonary valve stenosis segment accounted for the majority of the global pulmonary valve replacement market revenue share in 2022. Pulmonary valve stenosis is a common congenital heart defect that can lead to pulmonary hypertension, heart failure, and other complications. The increasing prevalence of this condition and the rising demand for minimally invasive surgical procedures are expected to drive the revenue growth of the pulmonary valve replacement market in the forecast years. Furthermore, developing innovative technologies and adopting transcatheter pulmonary valve replacement procedures contribute to the segment’s revenue growth.
However, the pulmonary atresia segment is expected to increase with a high revenue share during the forecast years. This revenue growth is attributed to the rising prevalence of pulmonary atresia diseases and advancements in surgical techniques for treating pulmonary atresia. Additionally, increasing healthcare expenditure and awareness about early diagnosis and treatment of such conditions are expected to drive the segment’s revenue growth.
Pulmonary Valve Replacement Market by End User
Based on end-user, the global pulmonary valve replacement market is segmented into ambulatory surgical centers, hospitals, and others.
In 2022, the hospital segment accounts for the majority of the global pulmonary valve replacement market revenue share. This can be attributed to the high patient inflow in hospitals and the availability of advanced healthcare infrastructure. However, the ambulatory surgical center’s segment revenue is expected to grow significantly during the forecast period due to an increasing preference for minimally invasive surgeries and shorter hospital stays.
The ambulatory surgical center segment is expected to show lucrative revenue growth in the global pulmonary valve replacement market. This rise in revenue share is attributed to the increasing preference for minimally invasive surgeries and the rising number of ambulatory surgical centers worldwide. Additionally, the shorter hospital stays and reduced healthcare costs associated with ambulatory surgical centers are also driving the growth of this segment in the pulmonary valve replacement market.
Pulmonary Valve Replacement Market by Region
Based on the region, the global pulmonary valve replacement market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the highest revenue share in 2022. The high prevalence of pulmonary valve disorders and the rising adoption of minimally invasive procedures drive North America’s pulmonary valve replacement market revenue. Technological advancements in surgical techniques and medical devices also contribute to regional revenue growth.
The European pulmonary valve replacement market is expected to experience significant revenue growth due to the increasing prevalence of pulmonary valve disorder in the region and the rising adoption of minimally invasive procedures for valve replacement surgeries. Additionally, technological advancements and the development of innovative products are expected to drive regional revenue growth.
The Asia Pacific pulmonary valve replacement market revenue is expected to grow significantly during the forecast period. This revenue growth can be attributed to the rising geriatric population in the region; advancements in healthcare infrastructure and growing awareness regarding early diagnosis & treatment of cardiovascular diseases are also expected to drive market revenue growth. Moreover, the increasing prevalence of congenital heart diseases and the adoption of minimally invasive surgical procedures also contribute to the market revenue growth in the Asia Pacific region. These factors are expected to create lucrative opportunities for market players shortly.
Pulmonary Valve Replacement Market Competitive Landscape
The market for pulmonary valve replacement is highly competitive, with several key players dominating the industry. These companies constantly innovate and improve their products to maintain market revenue share and stay ahead of the competition. In addition, advancements in technology and increasing demand for minimally invasive procedures drive the market’s revenue growth, creating new opportunities for established and emerging players in the industry. However, strict regulatory requirements and high costs associated with research and development may pose challenges to market revenue growth.
The prominent companies operating in the global pulmonary valve replacement market with the largest revenue share are,
Pulmonary Valve Replacement Market Recent Developments
The pulmonary valve replacement market revenue is expected to grow due to the increasing prevalence of congenital heart diseases and technological advancements in minimally invasive surgeries. The rising healthcare expenditure and growing awareness regarding the available treatment options are also expected to drive market revenue growth.
According to the deep-dive market assessment study by Growth Plus Reports, the global pulmonary valve replacement market was valued at US$ 980 million in 2022.
Some major strategies key market players adopt include mergers and acquisitions, product innovation, strategic partnerships, and geographical expansion. These strategies aim to increase market revenue share, enhance product portfolio, and expand customer base.
Based on the application, the global pulmonary valve replacement market is segmented into pulmonary valve stenosis, pulmonary atresia, and others. The pulmonary valve stenosis segment accounted for most of the global pulmonary valve replacement market revenue share in 2022.
The global pulmonary valve replacement market was valued at US$ 980 million in 2022 and is expected to register a revenue CAGR of 4.86% to reach US$ 1575.16 million by 2031.
*Insights on financial performance are subject to the availability of information in the public domain