The increasing number of valvular heart disease (VHD) cases, growing efforts to generate awareness about the same among the populace, and favorable medical reimbursement policies are driving the aortic valve market across the globe.
Aortic valve is a natural valve in the heart, which regulates the flow of blood from the left ventricle to the aorta. In a valvular heart disease, such as aortic valve regurgitation or aortic valve stenosis, the functioning of the valve is compromised, creating the need for a replacement. As per the 2016 Interventional Cardiology Journal, Valvular Heart Diseases - Epidemiology and New Treatment Modalities, and the 2006 Valvular Heart Disease in Elderly Adults report published by Nkomo et al, the risk of VHD increases with age.
The reports concluded that the prevalence of VHD was just 0.7% in people between 18 and 44 years of age, and almost 13.0% in those over 75 years old. The ongoing aortic valve market trend shows that the elderly are the largest consumers of such valves. According to the Health at A Glance 2017 report published by the Organisation for Economic Co-operation and Development, the percentage of people over 65 years old in member countries would rise from 17.0% in 2015 to 28.0% in 2050.
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Therefore, as the geriatric population increases across the world, so will the prevalence of VHD, which will continue driving the aortic valve market during the forecast period. Government initiatives being taken to raise the awareness of VHD are also playing an important role in the market growth. For instance, the Alliance for Aging Research, in 2017, designated February 22 as the National Heart Valve Disease Awareness Day in the U.S. The aim behind this was to make people aware of the risk factors and symptoms of the disease for faster detection and treatment.
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Of the two types of procedures for aortic valve replacement, viz. open surgery and minimally-invasive surgery (MIS), the valves transplanted via MIS dominated the market in 2017 in terms of value. Further, even in MIS, there are two main approaches: transfemoral and transapical. Of these, the transfemoral approach consumed valves in the larger amount, contributing $2,397.8 million in revenue to the aortic valve market in 2017. It is further being predicted that the sale of aortic valves for transfemoral MIS will generate a revenue of $4,897.5 million by 2023.
Therefore, it is clear that the increase in the prevalence of VHD, driven by the growth of the geriatric population, will bode well for the market for aortic valves.
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