Annuloplasty System Market Size, Share & Trends Analysis Report By Application (Mitral Valve Repair, Tricuspid Valve Repair), End Use (Hospitals, Specialty Clinics), By Region, And Segment Forecasts, 2024 - 2030

Annuloplasty System Market Size & Trends

The global annuloplasty system market size was estimated at USD 425.2 million in 2023 and is anticipated to grow a CAGR of 5.4% from 2024 to 2030. The increasing prevalence of cardiovascular diseases (CVD) along with the growing geriatric population base, preference for minimally invasive procedures, and heart health awareness programs are some of the major factors driving the market growth. According to the American College of Cardiology, the number of deaths due to CVD has increased from 12.4 million in 1990 to 19.8 million in 2022 globally.

The increasing prevalence of heart valve diseases has led several government and private organizations are take initiatives and conduct programs to spread awareness about heart valve diseases. For instance, in February 2024, the Centre for Valvular Heart Disease (CVHD) hosted a mobile screening program at the University of Ottawa Heart Institute (UOHI) to offer free screening for heart valve and cardiovascular risk factors. Such initiatives by government and private organizations to increase awareness about heart valve diseases and promote diagnosis of these diseases are expected to drive the market growth over the forecast period.

Similarly, the global population is aging, with several countries such as Japan, Italy, and others facing significantly higher risks of an aging population. According to the WHO, the population base aged 60 years or above is expected to more than double to reach 2.1 billion in 2050, increasing from 1 billion in 2020. This population base poses a significant risk of developing cardiovascular diseases over the period. Cardiovascular diseases such as mitral valve regurgitation and tricuspid valve insufficiency may require annuloplasty procedures to restore cardiac function and address valvular defects, which is expected to drive the demand for annuloplasty systems and drive the market growth over the forecast period.

The market players are continuously developing advanced and effective annuloplasty systems to increase the effectiveness and performance of these procedures. Similarly, several companies are developing devices and solutions to increase annuloplasty procedures' success rate. The improved results and successful procedures from these newly developed systems are expected to increase their adoption by various healthcare facilities and drive market growth. For instance, in January 2021, Valcare Medical Ltd. announced its first successful in-human transseptal delivery of the AMEND annuloplasty ring. The AMEND ring is developed to offer clinical standard-surgical treatment with easier procedures. This increasing adoption and success rate of the annuloplasty system is anticipated to increase demand and drive market growth over the forecast period.

Application Insights

The mitral valve repair segment held the largest market share of 62.5% in 2023. This can be attributed to the availability of advanced annuloplasty systems, allowing better patient outcomes in mitral valve repair procedures. For instance, Abbott offers the Tailor Flexible Annuloplasty Ring and Band, which can be customized to address the specific needs of the patient. Moreover, it is designed to sustain physiologic movement and maintain repaired mitral size. Such products by key players are expected to support the segment growth.

The tricuspid valve repair segment is anticipated to grow at the fastest CAGR of 5.6% over the forecast period. Annuloplasty procedures are emerging as the preferred treatment for tricuspid regurgitation owing to their increasing preference from healthcare professionals. For instance, the European Society of Cardiology (ECS) ESC program guidelines recommend ring annuloplasty as the preferred modality for surgical treatment of severe tricuspid regurgitation. Moreover, the increasing availability of annuloplasty products specifically designed to address tricuspid valve repair procedures is further expected to drive segment growth. For instance, Edwards Lifesciences Corporation offers the Carpentier-Edwards Physio Tricuspid annuloplasty ring, which is designed to prevent excessive dilatation and adapt to the dynamic motion of the tricuspid annulus.

End Use Insights

The hospital segment held the largest market share in 2023. This can be attributed to the hospitals' comprehensive surgical facilities and post-surgical care. This can be attributed to the hospitals' comprehensive surgical facilities and post-surgical care. The patients undergoing annuloplasty procedures can require close post-operative monitoring and care. Moreover, several hospitals are increasing their service offering with the establishment of cardiovascular facilities dedicated to treating heart-associated conditions, which is further anticipated to increase the number of annuloplasty procedures performed in the hospitals, thereby driving the segment growth. For instance, in April 2024, McCarthy announced the establishment of a new cardiovascular care facility at Emory University Hospital (EUH) in Atlanta, U.S. The expansion aims to enhance and expand operations for growing Heart & Vascular’s patient population.

The ambulatory surgical centers segment is expected to witness the fastest growth over the forecast period. This growth can be attributed to the increasing presence of patients towards cost-effective treatments, growing demand for outpatient procedures, and better convenience. Ambulatory surgical centers eliminate unnecessary services such as patient stays and overheads that decrease treatment costs offering a cost-effective treatment alternative for the patients. Moreover, the shorter waiting period and comparatively easier scheduling are further expected to increase the preference of patients towards these facilities, thereby driving the segment growth

Regional Insights

North America Annuloplasty System Market Trends

North America dominated the annuloplasty system market, accounting for a 41.4% share in 2023. This growth can be attributed to the region’s developed healthcare infrastructure, growing geriatric population base, accessibility to advanced annuloplasty products, and a high prevalence of heart valve diseases. North America is witnessing a rise in its geriatric population, which is more vulnerable to developing heart valve disease than other age groups. A report published by the Canadian Cardiovascular Society in March 2022 estimates that around 2.5% of the population suffers from heart valve disease. Moreover, it significantly after the age of 65 to reach around 13% after the age of 75 years. This growing threat of heart valve diseases in the region drives the market growth.

U.S. Annuloplasty System Market Trends

The annuloplasty market in the U.S. is expected to witness significant growth over the forecast period. This can be attributed to the presence of key market players, high patient awareness, shift towards minimally invasive procedures, and increasing burden of cardiovascular diseases. For instance, according to the Centers for Disease Control and Prevention, approximately 695,000 mortalities occurred in the U.S. due to heart disease in 2021, which accounts for around 1 in every 5 deaths in the country. Such a high prevalence of heart disease in the country is further anticipated to drive the demand for annuloplasty systems and the country’s market growth.

Europe Annuloplasty System Market Trends

The annuloplasty system market in Europe is expected to witness significant growth over the forecast period. This can be attributed to the increasing prevalence of cardiovascular diseases, increasing awareness about heart valve diseases, increasing government initiatives, and supportive regulatory frameworks. Moreover, the growing approvals for annuloplasty systems and products in the region are further expected to increase their adoption and drive market growth in the region. For instance, in April 2021, BioStable Science & Engineering, Inc. received CE Mark approval to use the company's HAART 200 Aortic Annuloplasty Device during bicuspid aortic valve repair.

Asia Pacific Annuloplasty System Market Trends

Asia Pacific is anticipated to witness the fastest growth at a CAGR of 7.5% during the forecast period. This can be attributed to the growing threat of cardiovascular diseases, developing healthcare infrastructure, increasing awareness about heart valve diseases, and growing geriatric population base in the region. As the population ages, the prevalence of valvular heart diseases, particularly mitral and aortic valve disorders, is expected to increase in countries such as China and Japan. According to the WHO, the population of China aged above 60 years is expected to reach 28% of its total population by 2040. This growing geriatric population base is expected to drive the regional market growth.

Key Annuloplasty System Company Insights

Some of the key players operating in the market include Medtronic, Abbott, Edwards Lifesciences Corporation and others. These players are using various strategies, such as product development, partnerships, and expansion, to increase their presence and gain a competitive edge over other market players.

Recent Developments

• In September 2022, Cardiac Implants LLC announced its success in the initial deployment of the company's annuloplasty ring using its Tri-Ring percutaneous annuloplasty device. The company further stated that its device allows clinicians to access the ring post-surgery to adjust it to the target diameter.

• In January 2021, Micro Interventional Devices, Inc. announced the submission of technical documentation to receive CE Mark approval for the company's MIA-T Percutaneous Tricuspid Annuloplasty System, which will be used for tricuspid valve repair procedures in the European region.

Annuloplasty System Market Report Scope

Global Annuloplasty System Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global annuloplasty system market report based on application, end use, and region:

• Application Outlook (Revenue, USD Million; 2018 - 2030)

  • Mitral Valve Repair

  • Tricuspid Valve Repair

  • Aortic Valve Repair

• End Use Outlook (Revenue, USD Million; 2018 - 2030)

  • Hospitals

  • Ambulatory Surgical Centers

  • Others

• Regional Outlook (Revenue, USD Million; 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait