India Prosthetic Heart Valve Market Expected to Reach $519.7 Million by 2033

According to a new report published by Allied Market Research, titled, “India prosthetic heart valve market size" was valued at $159.9 million in 2023, and is projected to reach $519.7 million by 2033, growing at a CAGR of 12.5% from 2024 to 2033. A prosthetic heart valve is a medical device implanted in the heart to replace a damaged or dysfunctional natural valve, ensuring proper blood flow through the heart. In India, these valves are critical for patients suffering from conditions such as valvular heart disease, which may be caused by congenital defects, infections, or age-related degeneration. Prosthetic valves come in two main types: mechanical, made from durable materials like titanium or carbon, and biological, crafted from animal tissue. The choice of valve depends on factors such as patient age, lifestyle, and the need for lifelong anticoagulation therapy. These devices significantly improve the quality of life for patients with severe valve disorders. 

India prosthetic heart valve market growth primarily driven by the rapid development of new technologies in the design and manufacturing of prosthetic heart valves. Innovations such as transcatheter aortic valve replacement (TAVR) have made it possible to treat patients who are not suitable candidates for traditional open-heart surgery. These minimally invasive procedures reduce recovery time and improve patient outcomes, making prosthetic heart valves more accessible to a broader range of patients.  

India prosthetic heart valve market trends include Indian government and private insurers have introduced more favorable reimbursement policies for cardiac procedures, including heart valve replacements thereby supports India prosthetic heart valve industry growth. This has made these procedures more affordable for patients, thereby increasing the demand for prosthetic heart valves. The expansion of health insurance coverage has also played a crucial role in making advanced cardiac care accessible to a larger segment of the population. 

However, performing heart valve replacement surgeries, especially using advanced techniques such as TAVR, requires specialized training and expertise. India faces a shortage of cardiothoracic surgeons and interventional cardiologists proficient in these procedures. This deficit restricts the number of surgeries that can be performed, consequently limiting the market growth. On the other hand, the development of new hospitals, cardiac care centers, and the introduction of advanced medical technologies in these regions will increase access to prosthetic heart valve procedures thereby drives the growth during India prosthetic heart valve market forecast period. This expansion creates opportunities for companies to tap into underserved markets and reach a broader patient base. 

Segment  Highlights 

The India prosthetic heart valve market size is segmented on the basis of product. On the basis of the product, the market is categorized into mechanical heart valve, tissue heart valve, and transcatheter heart valve. The tissue heart valve segment is further classified into stented tissue heart valve and stent less tissue heart valve. The transcatheter segment accounted for the largest India prosthetic heart valve market share in 2023. This is attributed to increasing geriatric population in India, who are often at higher risk for complications from open-heart surgery, has led to a greater adoption of transcatheter procedures. The ability to treat high-risk patients who are not candidates for traditional surgery has driven the demand for transcatheter heart valves.

Edwards Lifesciences Corporation, TTK, SMT, Relisys Medical Devices Limited., Medtronic, Heart Care India Co, Boston Scientific Corporation, Meril Life Sciences Pvt. Ltd., P+F Products + Features GmbH, and Abbott Laboratories are the key players operating in the India prosthetic heart valve industry. These key players adopt strategies such as product approval, agreement and others to expand the portfolio. For instance, in January 2022, Sahajanand Medical Technologies Limited (SMT) announced that the Hydra CE study demonstrating transcatheter aortic valve replacement with Hydra valve offered favorable efficacy at one year.