Annuloplasty Rings Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, UK, Japan - Size and Forecast 2024-2028

Annuloplasty Rings Market 2024-2028

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 annuloplasty rings market during the forecast period.

Technavio has segmented the market into application, end-user, and geography

• The application  segment is classified into mitral valve repair, tricuspid valve repair, and aortic valve repair
• The end-user segment is classified into hospitals, ambulatory surgical centers, and specialty clinics
• The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW)

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.

What will be the Size of the Annuloplasty Rings Market During the Forecast Period?

To learn more about this report, Request Free Sample

Annuloplasty Rings Market Segmentation by Application, End-user, and Geography Analysis

Application Analysis 

Mitral valve repair

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. 

Get a glance at the market contribution of various segments Download PDF Sample

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 annuloplasty rings market during the forecast period.

End-user Analysis 

Hospitals

An important end-user of the global annuloplasty rings 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 annuloplasty rings market during the forecast period. 

Ambulatory surgical centers

The ambulatory surgery center segment is a sizable subsegment within the global annuloplasty rings 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 annuloplasty rings market, providing patients with convenient, cost-effective, and efficient options for heart valve repair surgeries, which will drive the growth of the global annuloplasty rings market during the forecast period.

Regional Analysis

For more insights about the market share of various regions Download PDF Sample now!

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 annuloplasty rings market in the region during the forecast period.

COVID Recovery Analysis

The COVID-19 pandemic was indeed a tragedy for humankind, and it has had a far-reaching impact on various industries. However, the outbreak prompted vendors to develop new business strategies, such as online promotional activities and training for doctors, to raise the demand for healthcare equipment. Moreover, the market has been recovering since 2021, as the pandemic has been brought under control with the introduction of COVID-19 vaccines in 2021. Thus, such factors will drive the growth of the regional market during the forecast period. 

Buy Now Full Report

Key Annuloplasty Rings Market Players 

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.

• AFFLUENT MEDICAL
• BioStable Science and Engineering Inc.
• Boston Scientific Corp.
• Braile Biomedica
• Corcym Srl
• CORONEO
• Edwards Lifesciences Corp.
• Genesee BioMedical Inc.
• Labcor
• Medtentia International Ltd Oy
• Medtronic Plc
• Micro Interventional Devices Inc.
• Valcare Medical

Qualitative and quantitative 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.

Annuloplasty Rings Market: Key Drivers, Trends, Challenges, and Customer Landscape

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. 

Key Annuloplasty Rings Market Drivers

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 annuloplasty rings market during the forecast period.

Significant Annuloplasty Rings Market Trends

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 annuloplasty rings market during the forecast period.

Major Annuloplasty Rings Market Challenges

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 annuloplasty rings market during the forecast period.

Buy Now Full 

Key Annuloplasty Rings Market Customer Landscape

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.

Global Annuloplasty Rings Market Customer Landscape

Segment Overview

The annuloplasty rings market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Application Outlook
  • Mitral valve repair
  • Tricuspid valve repair
  • Aortic valve repair

• End-user Outlook
  • Hospitals
  • Ambulatory surgical centers
  • Specialty clinics

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest Of World (ROW)
    • Brazil
    • Argentina 
    • Australia

Annuloplasty Rings Market Scope
Report Coverage	Details
Page number	168
Base year	2023
Historic period	2018 - 2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 5.34%
Market Growth 2024-2028	USD 51.59 million
Market structure	Fragmented
YoY growth 2023-2024(%)	5.0
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 44%
Key countries	US, Canada, Germany, UK, and Japan
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
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
Market dynamics	Parent market analysis, 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.
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.

Download Sample PDF at your Fingertips

What are the Key Data Covered in this Annuloplasty Rings Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the annuloplasty rings market  between 2024 and 2028
• Precise estimation of the annuloplasty rings market size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on company's position and classification
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of annuloplasty rings market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch