Heart valve repair and replacement devices market to grow by $2.58b by 2028

However, high costs and regulatory hurdles could hinder its expansion.

The global market for heart valve repair and replacement devices is projected to rise by $2.58b by 2028 at a compound annual growth rate of 7.08%, said Technavio.

The sector’s expansion is attributed to the increasing prevalence of heart valve diseases, technological advancements, and the ageing population.

“The demand for minimally invasive procedures and the rising awareness of heart valve replacement therapies are also contributing factors,” the report said.

Minimally invasive procedures such as transcatheter aortic valve replacement and transcatheter mitral valve replacement have gained popularity due to their lower risk compared to traditional open-heart surgery.

However, challenges such as high costs and regulatory hurdles, including FDA approval processes and stringent regulations, could potentially hinder the sector’s growth.