Global Annuloplasty Rings Market by Type (Saddle shaped rings, Flat shaped rings), By Application (Mitral valve repair, tricuspid valve repair, aortic valve repair), By End-User (Hospitals, ambulatory surgical centers, speciality clinics), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Report Overview

The global Annuloplasty Ring Market size is expected to be worth around USD 44.9 Million by 2033 from USD 31.5 Million in 2023, growing at a CAGR of 3.6% during the forecast period from 2024 to 2033.

In order to tighten, reshape or reinforce the ring(annulus) around a valve in the heart, a surgical procedure is carried out known as ‘Annuloplasty’. The widening of ring surrounding the heart valve causes problem in opening and closing of the valves leading to regurgitations of blood through the valves. Congenital heart valve disease, heart attack, trauma are vaious causes of valve regurgitation.

The understanding of sophisticated geometry of mitral valve apparatus is ascribed to the technological advanvement in imaging techniques. This contributed the R&D to form more physiological and pliable annuloplasty rings and bands. Several new entrants are developing annuloplasty rings, which are in various stages of clinical development. The expansion of annuloplasty repair devices industry is also aided by strategic collaborations.

Demand for minimally invasive percutaneous mitral valve annuloplasty and favourable health reimbursement are various drivers for annuloplasty rings to survive in the market climate. Conversely, the stringent government regulations and complications associated with the course of action can restrain the market during the forecast period.

Key Takeaways

Based on type analysis, the segment is categorized into saddle shaped and flat shaped annuloplasty rings, where saddle shaped rings dominated the segment.

• saddle shaped annuloplasty ring dominates the segment, and is  accounted to hold a large market share of 68.42% in 2023
• The mitral valve repair category dominates the application segment, and is accounted to hold a large market share of 45.3%
• Significantly, annuloplasty surgeries are performed in hospitals, dominating the segment by 73.2%.
• The rising number of heart valve disease is responsible to drive the market of annuloplasty rings.
• High cost regulatory approval processes, increases the cost of annuloplasty rings by manufacturing companies.
• The region responsible to hold the largest share of 56.8% of Annuloplasty Rings market is North America, dominating the regional segment.

By Type Analysis

Saddle shaped annuloplasty rings produces lesser complications

Based on type analysis, the segment is classified into saddle shaped annuloplasty rings and flat shaped annuloplasty rings. Amongst these, saddle shaped annuloplasty ring dominates the segment, and is  accounted to hold a large market share of 68.42% in 2023. According to a hypothesis, saddle shaped annuloplasty rings have superior uniform systoloic force distribution as compared to nonuniform force distribution in flat annuloplasty rings.

In addition to this, saddle shaped rings  maintain the valve leaflets into a lower energy equilibrium with the annulus and subannular apparatus. On the other hand, flat shaped annuloplasty rings restrict posterior leaflet motion, resulting in a ‘monocusp’ valve, affecting valvular stress distribution.

By Application Analysis

Mitral Valve repair dominates the application segment

The application segment is classified into mitral valve repair, tricuspid valve repair and aortic valve repair. The mitral valve repair category dominates the application segment, and is accounted to hold a large market share of 45.3%. Considered as a gold standard treatment for mitral valve regurgitation, mitral valve repair safeguards the native valve function providing long term outcomes without the need for anticoagulation.

Furthermore, in case of tricuspid valve regurgitation and tricuspid stenosis, tricuspid valve repair with the aid of annuloplasty ring is perfomed. This procedure can also be performed for primary tricuspid disease or combined cases with mitral valve surgery and aortic valve surgery. Hence, tricuspid valve repair also provide a healthy contribution in annuloplasty rings market growth.

By End User Analysis

The cutting edge annuloplasty ring treatment is significantly performed by hospitals

Hospitals, ambulatory surgical centers, speciality clinics are the copious end users of annuloplasty ring market. Being the most important end user, hospital segment has generated the maximum revenue during 2022 and continues to dominates the segment by holding a large market share of 73.2% in 2023. Hospitals are equipped with knowledge and resources needed to carry out the paramount treatments in a secure and efficacious way. Cardiac surgeons mostly operates installation of  annuloplasty rings in hospitals to treat heart valve disorders.

The ability of hospitals to manage difficult procedures with postoperative care makes the segment more preferred by patients. In order to stay interwoven with the recent developments in annuloplasty ring technology, hospitals also collaborate with research organizations and medical device producers, making the provision of cutting edge and successful treatments for the patients.

Furthermore, 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. These are the medical ministrations that offer same day surgical procedures without even spending the whole night in hospital.

Key Market Segments

By Type

• Saddle shaped annuloplasty rings
• Flat shaped annuloplasty rings

By Application

• Mitral valve repair
• Tricuspid valve repair
• Aortic valve repair

By End User

• Hospitals
• Ambulatory surgical centers
• Speciality clinics

Drivers

Upsurge in heart valve diseases drives the market

The ubiquity of heart valve diseases has a steady up surge globally. The associated risk factors of heart valve diseases are high blood pressure, obesity, smoking, alcohol consumption and diabetes. About 2% of the population is affected by Mitral Regurgitation(MR), a most common vulvular abnormality, accoding to NCBI in January 2020. Numerous diseases such as cardiac ischemic, rheumatic diseases and effective endocarditis leads to the occurrence of mitral regurgitation. Rheumatic heart disease is the most commonly accrued disease amid people under age 25-28. Additionally, an approximate of 7.2 million of people die due to coronary artery disease around the world.

Thus, such factors increases the demand for annuloplasty rings, which, in turn, will drive the growth of the global annuloplasty rings market during the forecast period 2024-2033.

Restraints

High cost of annuloplasty rings

The high cost of annuloplasty ring is the major roadblock for the expansion of annuloplasty rings market. Depending on features, the cost of annuloplasty rings ranges from the USD 1,500 to the USD 2,500, with an average of the USD 1,955. Besides this, the cost of procedure also varies depending on type of ring used, the extent of surgery, insurance coverage, special tests, and additional surgery required due to postoperative complications. In U.S. the average cost of mitral valve repair procedure is the USD 32,000. Reimbursement of annuloplasty rings is also an additional challenge.

Costly regulatory approval process

Moreover, the structural barriers to competition, such as costly regulatory approval process and patent protection  can increase the cost of annuloplasty rings by the manufacturing companies. This leads to the discontinuance of annuloplasty ring import and increase the competition between the domestic companies, resulting in reduction of annuloplasty ring’s prices. Thus, all these factors can impede the market expansion of annuloplasty rings.

Opportunities

Rise of heart valve diseases in aged people

The rising geriatic population are reported to develop the heart valve diseases and undergo heart valve repair procedures, caused by infection or degeneration of tissues. Annuloplasty or the valve replacement has to be done in such cases, or else it can lead to heart damage.The most commonly performed surgical procedure among aged people for mitral regurgitation is mitral valve repair. According to the data published by World Bank in 2022, 18.85% of the population in the United Kingdom was aged more than 65 years in 2021, whereas 17.65% in 2020.

This number is expected to increase in future, hence the geriatric population with heart valve diseases increases the annuloplasty repair treatments, offering opportunities for the companies manufacturing the annuloplasty rings to generate sky reaching revenues.

Latest Trends

The technological advancement led to the development of new techniques and devices, in order to treat various heart valve diseases. These are as follows:

• Minimally Invasive Annuloplasty: it involves percutaneous tricuspid annuloplasty procedure which is intended to replicate a surgical annuloplasty procedure on the end of a catheter, reducing annular area and ultimately reducing tricuspid regurgitation.

• Robotic Mitral Valve Repair: Facilitated by a 3 to 4-cm mini-right lateral thoracotomy at the anterior axillary line, is an established and ever-increasing approach to primary mitral regurgitation (MR), now used in nearly 15% of all cases in the United States.

Impact of Macroeconomic factors

COVID 19 had a significant impact on Annuloplasty ring market. There was decrease in number of cardiac surgeries due to stern lockdown and government directives.

• According to the journal of National Library of Medicine in February 2022, during pandemic in India, there was a significant drop in the number of patients opting for mitral valve repair.

Regional Analysis

North America is leading the Annuloplasty rings Market

The region responsible to hold the largest share of 56.8% of Annuloplasty Rings market is North America, dominating the regional segment. According to Population Reference Bureau, there is a growing aged population in United States and the gender gap in life expectancy is narrowing.
The population aged 68 or older as a percentage of total population increased to 18.3% in 2022 in United States. Along with this, the easy availability of technologically advanced products and high awareness among patients regarding valve repair surgeries makes North America highly preferable for annuloplasty ring surgeries.

A large increase in cardiovascular disorders especially, vulvular heart ailments has been observed in APAC regions. For Instance, changing lifestyles and aging populations are responsible for the increase in vulvular disorders in India and China. This contribution makes APAC regions the fastest growing in Annuloplasty rings market.

Thus, all these factors are accountable to fuel the market growth of Annuloplasty rings during the forecast period.

Key Regions and Countries

North America

• US
• Canada

Europe

• Germany
• France
• The UK
• Spain
• Italy
• Russia
• Netherland
• Rest of Europe

Asia Pacific

• China
• Japan
• South Korea
• India
• New Zealand
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

Market Players Analysis

Developing key players are concentrated on various strategies to develop their particular companies in foreign markets. Several Annuloplasty rings market companies are concentrating on growing their R&D facilities and existing operations. Furthermore, businesses in the Annuloplasty rings market are developing a portfolio and new product expansion strategies through mergers, investments, and acquisitions. In addition, numerous key players are now concentrating on different marketing strategies, such as increasing awareness about advanced features, which is expanding the growth of target products.

Market Key Players

With many local and regional players, the market for global Annuloplasty rings is fragmented. Market players are subject to intense competition from top market players, particularly those with strong brand recognition and high distribution networks. Companies have gained various expansion strategies, such as partnerships and product launches, to stay on top of the market.

Listed below are some of the most prominent Annuloplasty Rings market players.

• Abbott Laboratories
• Biostable Science and Engineering
• Boston Scientific
• Braile Biomedica
• Labcor
• Medtentia International
• Medtronic
• Micro Interventional Devices
• Valcare Medical
• Coroneo
• Edwards Lifesciences corporation
• FOC Medical SA

Recent Developments

• In January 2021: Valcare Medical, a heart valve device developer announced the 1st implantations of its Amend mitral valve repair annuloplasty ring, completing the 1st phase of its 1st-in-human multi-center clinical trial evaluating the device.
• In September 2021: Affluent Medical announced the success of the first-ever Kalios mitral ring adjustment on a patient suffering from a post-operative recurrence of severe mitral insufficiency.

Report Scope