Annuloplasty Ring Market Growth Drivers, Top Players Analysis, and Business Strategies, 2023

The global annuloplasty ring market is expected to display higher growth rate over the next five years. Rapid surge in the market is credited to the growing prevalence of cardiac disorders, diabetes, end-stage renal disorders, and tricuspid valve (TV) insufficiency. Increasing prevalence of hypertension and mitral valve dysfunction are predicted to boost market demand for annuloplasty ring as well. Globally, market is predicted to generate massive revenue over the next five years, providing numerous opportunities for industry participants to invest in research and development of annuloplasty ring market.

Other factors such as prevalence of genetic and hereditary disorders, changing lifestyle, increasing alcohol consumption, varying food preferences are anticipated foster market growth in the near future. However, declining reimbursement rate and increasing cost associated with medical treatment are restricting the market growth. Growing prevalence of Ischemic Heart Disease (IHD) condition, which is considered as one of the leading cause of the heart attack across the world, is expected fuel market demand for annuloplasty ring over the forecast period.

Additionally, rising number of minimally invasive surgeries is considered as one of the major driver for market growth in the recent years. The recent technological advancement in the healthcare sector and development of novel products such as custom made annuloplasty rings along with maximum safety and efficiency are fostering market demand over the coming years. In addition, rising approval rate for regular use of annuloplasty ring during minimum invasive surgeries is further advancing market progress in the past few years.

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An annuloplasty ring is used to tighten or reinforce the mitral valve in the heart. An annuloplasty ring is largely utilized during other surgical procedures to repair a heart valve. During widening of the valve leads to flapping, thus causing improper opening and closing of the valve. Use of annuloplasty ring prevents backward blood leakages via the valve.

The annuloplasty ring market is broadly categorized into major segments based on the product type such as custom annuloplasty rings, rigid annuloplasty rings and semi-rigid annuloplasty rings. Custom annuloplasty rings segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing demand of custom annuloplasty rings segment is attributed to the better flexibility, cost efficiency and higher product penetration.

The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in healthcare sector, surge in number of research & development activities and existence of well-established medial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.

Asia-Pacific region is estimated to hold a major share in the annuloplasty ring market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with prevalence of cardiovascular disease & diabetes, increasing healthcare infrastructure activities, recent epidemiological transition and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the annuloplasty ring market are Medtronic plc, Edwards Lifesciences Corp., Abbott Laboratories, LivaNova plc, Braile Biomédica Co., and Labcor Laboratórios Ltd.

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