Annuloplasty Ring Market: Current Analysis and Forecast (2023-2030)

Annuloplasty rings are devices used in cardiac surgery to treat mitral or tricuspid valve insufficiency. These rings are typically made of durable materials like titanium or polymers and are placed around the heart valve's annulus-the fibrous ring surrounding the valve leaflets. The primary purpose of annuloplasty rings is to restore the proper shape and size of the valve annulus, ensuring optimal valve function. They help in correcting valve regurgitation by providing structural support and preventing further dilation of the annulus. Annuloplasty rings have been gaining popularity in the market owing to several factors, such as increasing incidence of heart valve disorders, advancements in technology, growing minimally invasive procedures, increasing awareness and diagnosis, rising healthcare expenditure, rising regulatory support, and surge in company collaborations & partnerships are leading drivers of annuloplasty rings globally.

The Annuloplasty Rings Market is expected to grow at a steady rate of around 3.53% owing to the rising geriatric population which is more sensitive towards heart valve disorders. For instance, according to the World Health Organization, by 2050, the world's population of people aged 60 years and older will double to 2.1 billion. The population of number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. Several factors, including a surge in the incidence of cardiac disorders, increasing awareness regarding cardiovascular disorders, and increased investments in cardiology departments are driving the growth of the market during the forecast period. Apart from this, accelerated treatment efficiency with annuloplasty rings has resulted in faster treatment procedures and better accuracy which is also driving this market of annuloplasty rings at a steady rate.

Based on rigidity, the market is segmented into flexible, rigid, semi-rigid, and others. The rigid segment held the maximum share in the global market of annuloplasty rings in 2022 owing to the stability it provides to the mitral valve. Rigid annuloplasty rings are devices used in cardiac surgery, particularly in mitral valve repair procedures. These rings are designed to support and reshape the mitral valve annulus, which is the fibrous ring surrounding the valve. This segment dominated the market because of the rising cases of coronary heart disease and high blood pressure. For instance, A family history of heart disease is also a propelling factor for this segment. Thus, among the rigidity type, the rigid ring segment held a significant share of the market in 2022.

Based on application, the market is categorized into mitral valve annuloplasty, tricuspid valve annuloplasty, aortic valve annuloplasty, and others. The tricuspid valve annuloplasty segment is expected to hold a significant share of the market in the forecast period owing to the rising prevalence of tricuspid regurgitation. For instance, in October 2023, according to Science Direct, the incidence of moderate or severe tricuspid regurgitation (TR) increases with age; the prevalence in the general population reaches 1.5% and 5.6% in men and women, respectively. Tricuspid valve annuloplasty is performed to address conditions such as tricuspid regurgitation (TR), where blood flows back into the right atrium during the heart's contraction. Thus, amongst applications, the tricuspid valve annuloplasty category is expected to witness a higher CAGR during the forecast period.

For a better understanding of the market adoption of annuloplasty rings, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is dominating the market in the current scenario of 2022 due to the increasing geriatric population, and rising number of investments in developing effective annuloplasty rings. For instance, according to the Population Reference Bureau, the number of Americans ages 65 and older is projected to increase from 58 million in 2022 to 82 million by 2050 (a 47% increase). Government organizations are initiating cardiac disorder awareness programs to provide efficient care to patients. Apart from these, North America has an enormous number of leading medical device manufacturers which is further propelling the growth of the annuloplasty ring market in the region.

Some of the major players operating in the market include Affluent Medical; Corcym; Braile Biomedica; Coroneo; Edwards Lifesciences Corporation; Genesee BioMedical; HVR Cardio Oy; Medtronic; Abbott; Valcare Medical.