Annuloplasty System Market Size

Annuloplasty System Market Analysis

The annuloplasty system market is expected to register a CAGR of 4.2% during the forecast period.

The COVID-19 pandemic had a substantial impact on the annuloplasty system market. The strict lockdowns and government regulations resulted in a decrease in the number of cardiac surgeries. The annuloplasty system is used in heart repair surgeries, and during the pandemic, the number of patients going to hospitals or clinics for surgeries decreased significantly.

For instance, according to an article published by the journal of the National Library of Medicine in February 2022, there was a significant drop in the number of patients opting for mitral valve repair during the pandemic in India. Furthermore, according to an article published in the journal of the National Library of Medicine in March 2022, the cardiac surgery volume decreased dramatically during the first surge of COVID-19 in the United States. Thus, the COVID-19 outbreak negatively affected the market's growth in its preliminary phase. However, the market is expected to gain traction in the post-pandemic scenario.

Further, the rising geriatric population, technological advancements in the development of biodegradable annuloplasty systems, and increasing use of annuloplasty systems for aortic valve repair are among the major factors driving the growth of the market. Currently, the demand for minimally invasive procedures like annuloplasty is increasing. For instance, according to the heart disease and stroke statistics released by the American Heart Association in January 2022, the prevalence of coronary heart disease was around 7.2% in the United States, and an estimated yearly incidence of acute myocardial infarction (AMI) is 3.7 in 1,000 individuals in 2022.

Heart valve regurgitation is a common heart valve disease in the elderly that may be caused by an infection or degeneration of the tissues. It causes blood to leak backward into the heart, and the condition is progressive. Annuloplasty or valve replacement must be done in such cases, or the heart can be permanently damaged. Moreover, according to the data published by Worldbank in 2022, 18.85% of the population in the United Kingdom was aged more than 65 years in 2021, whereas 18.65% in 2020. This number is expected to increase in the future. Therefore, the rising geriatric population will increase the number of cardiovascular diseases that need annuloplasty treatment. These factors are expected to drive the growth of the market in the forecast period.

In addition, new product launches and strategic activities by major players in the market are positively affecting the market's growth.

For instance, in January 2021, Valcare Medical, developer of transcatheter mitral and tricuspid valve repair and replacement solutions, announced that they had completed their first-in-human trans-septal delivery of the AMEND annuloplasty ring. Additionally, in January 2021, Micro Interventional Devices Incorporated announced that they had submitted the required technical documentation for CE Mark approval for its MIA-TTM Percutaneous Tricuspid Annuloplasty System for tricuspid valve repair to its notified body. Thus, due to product launches and partnerships, the market is expected to grow significantly in the forecast period.

Therefore, owing to the aforementioned factors, the market studied is anticipated to witness growth. However, the high cost of annuloplasty and the lack of skilled professionals are likely to impede the market growth.