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The global annuloplasty rings market size is estimated to grow by USD 51.59 million at a CAGR of 5.34% between 2023 and 2028.
Technological advances in imaging techniques have helped researchers better understand the sophisticated geometry of the mitral valve apparatus and contributed to the R&D of more physiological and flexible types of annuloplasty rings and bands. These advances have helped the rings to evolve in shape, materials, and adjustability. Innovations in annuloplasty rings mainly focused on lesion-specific geometries of annuloplasty rings, novel flexible materials to preserve native annular dynamics, and adjustable ring designs. Several new entrants are developing annuloplasty rings, which are in various stages of clinical trials. For instance, in January 2021, Valcare Medical developed an innovative D-shaped ring called the Amend ring, which has unique anchoring capabilities that maintain the valves' structural integrity and deliver long-term performance. Such products may enter the market and dilute the market share of the existing vendors, which, in turn, will drive the growth of the global market during the forecast period.
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Technavio has segmented the market into application, end-user, and geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
The Market revolves around cutting-edge innovations designed to address a spectrum of heart-related challenges, including heart attacks and congenital heart valve disease. At the core of this market are Annuloplasty Rings, crucial devices used in cardiovascular interventions and medical procedures to correct valve abnormalities like tricuspid regurgitation and optimize heart valve functionality. These rings play a pivotal role in patient outcomes, ensuring biocompatibility and enhancing longevity post-surgery. They are specifically engineered to address issues with valvular insufficiencies and valve dysfunction, particularly concerning the tricuspid valve. The clinical development surrounding annuloplasty rings also includes advancements like percutaneous mitral valve annuloplasty, offering less invasive solutions for patients with coronary artery disease and hypertension.
The market share growth by the mitral valve repair segment will be significant during the forecast period. Mitral valve repair is considered the gold standard for the treatment of mitral valve regurgitation (MR) due to most etiologies. It is preferred over prosthetic valve replacement whenever technically possible. Mitral valve repair preserves native valve function and offers long-term outcomes and durability without the need for anticoagulation.
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The mitral valve repair segment was the largest and was valued at USD 119.46 million in 2018. In addition, patients with tricuspid regurgitation (TR) usually undergo tricuspid valve repair procedures using an annuloplasty ring. It may also be performed for primary tricuspid disease or combined cases with mitral valve surgery and aortic valve surgery. The placement of an annuloplasty ring during tricuspid valve repair is associated with improved long-term and event-free survival, decreased recurrence of TR, and a lower reoperation rate. Thus, the increased benefits of the mitral valve repair segment will drive the growth of the global market during the forecast period.
An important end-user of the global market is the hospital segment. In hospitals, annuloplasty rings are frequently used to treat heart valve disorders, particularly in patients who need mitral valve repair or replacement. Further, hospitals provide easier access to the tools, technologies, and diagnostics needed for procedures like annuloplasty ring insertion. The effectiveness of annuloplasty treatments depends on their ability to handle difficult situations and offer postoperative care. Hospitals typically collaborate with research organizations and medical device producers, which allows them to stay abreast of the most recent developments in annuloplasty ring technology. This makes it possible for hospitals to provide patients with the most cutting-edge and successful treatment alternatives. With the increasing prevalence of heart valve diseases and the growing adoption of minimally invasive surgical techniques, the demand for annuloplasty rings will drive the growth of the global market during the forecast period.
The ambulatory surgery center segment is a sizable subsegment within the global market, t. A medical device called an annuloplasty ring is used during surgery to fix or replace a damaged heart valve, typically the mitral or tricuspid valve. Ambulatory surgical centers (ASCs) are medical establishments that offer same-day surgical procedures without requiring patients to spend the night in the hospital. Due to the growing number of patients undergoing heart valve repair surgeries and the rising use of minimally invasive techniques, the demand for annuloplasty rings in ASCs is anticipated to increase and it is crucial to remember that because healthcare infrastructure and legislation vary from country to country, the availability and utilization of ASCs may fluctuate by location. The ambulatory surgical center segment plays a significant role in the global market, providing patients with convenient, cost-effective, and efficient options for heart valve repair surgeries, which will drive the growth of the global market during the forecast period.
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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The US and Canada are the major revenue contributors to the market in the region. With the launch of novel annuloplasty rings, the company aimed to provide improved dimensions to treat enlarged annuli and reduce the risk of systolic anterior motion. The growing prevalence of heart valve diseases and their related risk factors is also driving the market in this region. The ageing population is more likely to develop heart valve diseases and undergo heart valve repair procedures. Furthermore, mitral valve repair is currently the most commonly performed surgical procedure for MR in North America. Several public and private organizations are also taking initiatives to increase awareness of heart valve diseases.
For instance, Heart Valve Voice Canada, a non-profit patient advocacy organization, focuses on advocating for increased and early diagnosis, timely access to appropriate treatment, removal of barriers to receiving diagnosis and treatment, and meaningful support systems for those affected by heart valve disease. Increased healthcare spending in North America also drives the market in the region. Therefore, increasing healthcare expenditure raises the adoption and availability of advanced devices and services, which contributes to the growth of the market in the region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 14 market companies, including:
Abbott Laboratories - The company offers annuloplasty rings namely the Abbott Attune Ring which is designed to accommodate procedural needs and are suitable for implant using open sternotomy, minimally invasive, and robotic approaches.
Qualitative and quantitative market growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Market is driven by an array of factors including the rising incidence of cardiovascular diseases such as heart attacks and hypertension. The growth in the Annuloplasty repair devices industry, especially the demand for Annuloplasty Rings, is also propelled by lifestyle factors like sedentary lifestyles, unhealthy eating habits, and smoking, which contribute to heart failure and valve abnormalities. Trends in clinical development, particularly Percutaneous mitral valve annuloplasty, highlight a shift towards less invasive procedures. Challenges include ensuring biocompatibility, optimizing functionality, and addressing longevity concerns in heart valve treatments amidst increasing cases of valvular insufficiencies and regurgitations. There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The increasing prevalence of heart valve diseases is notably driving the market growth. Globally, the prevalence of heart valve diseases is steadily increasing. According to the NCBI, in January 2020, mitral regurgitation (MR) is the most common valvular abnormality, which affects about 2% of the total population. MR can be caused by cardiac ischemia (functional MR), rheumatic diseases, and infective endocarditis. Every year, approximately 7.2 million people die from coronary artery disease (CAD) around the world. Rheumatic heart disease is the most commonly acquired heart disease among people under the age of 25.
Furthermore, the associated risk factors of heart valve diseases, such as high blood pressure, obesity, smoking, alcohol consumption, diabetes, and obesity, are increasing. Thus, such factors are expected to increase the demand for annuloplasty rings, which, in turn, will drive the growth of the global market during the forecast period.
The development of biodegradable annuloplasty rings is an emerging trend shaping the market growth. Biodegradable annuloplasty rings have several advantages over rigid and flexible annuloplasty rings. Biodegradable annuloplasty rings have less gradient, better posterior leaflet mobility, and faster recovery of the shortening fraction after surgery. Moreover, biodegradable rings induce fibrous tissue with structural function, which preserves the growth potential of the annulus in the pediatric population, thereby maintaining the 3D dynamic geometry of the mitral valve and tricuspid valve. Conventional annuloplasty rings and bands are predominantly made of polyester mesh, making them susceptible to seeding and infection. At the same time, biodegradable annuloplasty rings are theoretically more infection-resistant due to their nonporous structures and intra-annular implantation technique.
For instance, a biodegradable annuloplasty ring called Kalangos has been demonstrated to have infection resistance when implanted in an active infectious environment. Hence, such factors are expected to increase the development of biodegradable annuloplasty rings, which, in turn, will positively impact the growth of the global market during the forecast period.
The high cost of annuloplasty rings is a significant challenge hindering market growth. The high cost of annuloplasty rings is restricting their widespread adoption in developed as well as developing countries. In recent years, there has been an upward trend in the pricing of annuloplasty rings. Depending on features, the cost of annuloplasty rings ranges from USD 1,000 to USD 2,000, with a mean of USD 1,755. On average, the cost of mitral valve repair procedures is around USD 30,000 in the US. Furthermore, the procedure costs can significantly increase depending on the type of ring used, the extent of surgery, special tests, insurance coverage, medications, and additional surgery required due to postoperative complications. In many countries, clinicians also face challenges in terms of reimbursement of annuloplasty rings.
Moreover, companies offering annuloplasty rings can charge high prices mainly due to structural barriers to competition, such as the complex, costly regulatory approval process and patent protection. These barriers discourage imported annuloplasty rings, which might compete with domestically manufactured devices and reduce the prices. Hence, the high cost of annuloplasty rings and procedures is expected to hinder the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments
The Market is deeply intertwined with the rising prevalence of cardiovascular diseases globally, particularly those affecting the heart and blood vessels. As lifestyles trend towards sedentary habits and unhealthy eating, coupled with elevated stress levels, the incidence of conditions like heart failure, hypertension, and valve abnormalities has surged. This scenario has propelled the demand for advanced medical procedures and interventional cardiology solutions.
Moreover, the industry is focusing on developing valve repair devices that prioritize biocompatibility, functionality, and longevity to enhance patient outcomes. With an aging population and shifting lifestyles, there's a notable surge in cardiovascular disorders, necessitating innovations like percutaneous mitral valve annuloplasty and minimally invasive annuloplasty techniques. Clinical advancements in annuloplasty repair devices and saddle-shaped annuloplasty rings are reshaping cardiac surgery and interventional radiology, offering promising avenues for heart valve disease management. As the market evolves, collaboration between cardiac surgeons and medical offices is vital for delivering innovative and effective solutions for patients.
Furthermore, the Market is profoundly impacted by factors such as the rising incidence of heart and blood vessel conditions, largely driven by sedentary lifestyles and unhealthy eating habits prevalent in modern societies. Conditions like valvular insufficiencies, valve dysfunction, and valvular heart ailments are becoming more common, particularly among aging populations facing changing lifestyles. This has led to increased demand for interventional medical specialties, including cardiovascular, neurology, orthopedic surgery, pain management, pulmonology, urology, vascular surgery, female pelvic medicine, and gynecology. In response to these challenges, the Market has witnessed significant advancements in clinical development, particularly in annuloplasty repair devices.
However, the innovations like saddle-shaped annuloplasty rings and flat-shaped annuloplasty rings are optimizing systolic force distribution and improving patient outcomes. Additionally, technologies such as Robotic Mitral Valve Repair are revolutionizing geriatric healthcare, offering minimally invasive solutions for congenital heart valve disease, regurgitations, heart attacks, and trauma. The growing presence of outpatient centers underscores the market's shift towards more accessible and efficient cardiac care. These developments highlight the industry's commitment to addressing the evolving needs of a geriatric population while leveraging cutting-edge solutions to enhance clinical efficacy and patient satisfaction.
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Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.34% |
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Market Growth 2024-2028 |
USD 51.59 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.0 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 44% |
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Key countries |
US, Canada, Germany, UK, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abbott Laboratories, AFFLUENT MEDICAL SA, BioStable Science and Engineering Inc., Bon Secours Health System Inc., Boston Scientific Corp., Braile Biomedica, Coroneo, Edwards Lifesciences Corp., FOC Medical SA, Genesee BioMedical Inc., Labcor Laboratorios Ltda., LivaNova Plc, Medtentia International Ltd. Oy, Medtronic Plc, Micro Interventional Devices Inc., and Valcare Medical |
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Market dynamics |
Parent market analysis, market research and growth, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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