Annuloplasty Rings Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Annuloplasty Rings Market is segmented By Type (Flexible Annuloplasty Rings, Rigid Annuloplasty Rings, Semi-rigid Annuloplasty Rings) By Application (Mitral Valve Annuloplasty, Tricuspid Valve Annuloplasty, Aortic Valve Annuloplasty) By End User (Hospitals and Clinics, Ambulatory Surgical Centers, Others) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Annuloplasty Rings Market Size

The Global Annuloplasty Rings Market reached US$ 32.64 million in 2023 and is expected to reach US$ 42.76 million by 2031, growing at a CAGR of 3.5% during the forecast period 2024-2031.

Aortic annuloplasty reduces the dilated aortic annulus and improves the surface of coaptation, annuloplasty rings are used in annuloplasty procedures where the rings surround the heart valve. The ring can be mesh, metal or plastic. The ring resembles the heart valve's natural movement and flexibility. 

The ring stays in the position it is placed in permanently and helps the opening and closing of valves properly. These annuloplasty rings are used to support the mitral annulus and maintain an appropriate diameter of the heart valve opening. 

Annuloplasty Rings Market  Scope

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Annuloplasty Rings Market  Dynamics: Drivers & Restraints

High prevalence of valvular disorders

The increasing number of valvular diseases is expected to drive market growth. The ring helps to close the valve leaflets, which control blood flow through the valve. Annuloplasty done at the same time as heart valve repairs. Increasing valvular diseases increases the demand for annuloplasty procedures which in turn increases the demand for annuloplasty rings. 

For instance, Mitral regurgitation (MR) is the third most common form of valvular heart disease, affecting approximately 24.2 million people around the world. MR is the most common valvular abnormality worldwide, affecting over 2% of the total population and has a prevalence that increases with age. 

Additionally, mitral valve stenosis affects 1 in every 100,000 individuals in US. Mitral valve stenosis is more common in developing companies when there is limited access to antibiotics and medical care. Thus, the increasing number of valvular diseases is expected to drive the market growth.

High costs of annuloplasty procedures 

The high cost of the procedures can lead to lower surgery rates which could affect the market growth. The increased costs of annuloplasty procedures will shift patients to alternate temporary solutions that are affordable. This could have a negative impact on the market growth.

Annuloplasty Rings Market Segment Analysis

The global annuloplasty rings market is segmented based on type, application, end-user and region.

Flexible annuloplasty rings segment is expected to dominate the market growth

The flexible annuloplasty rings segment is expected to hold a dominant position in the market share. This is due to the increased applications and advantages over other types of annuloplasty rings. The flexibility of these rings reduces the restriction of the leaflet movement during the opening and closing of the valves. 

This flexibility helps the leaflets to allow properly controlled flow of blood through the valve. because of their flexibility, they can be inserted through small incisions when compared to rigid rings.  These factors make them used for a wide range of patient populations. Thus, the above factors are expected to hold the segment in the dominant position during the forecast period. 

Annuloplasty Rings Market  Geographical Analysis

North America is expected to hold a significant position in the annuloplasty rings market share

North America holds a significant market share. North America is expected to hold the dominant position in the market share during the forecast period. This is due to the increased number of product launches and the increasing prevalence of valvular disease in the region. The presence of major medical device manufacturing companies in the region also plays a major role in elevating the market growth in the region.

For instance, according to the report by the National Institute of Health in 2023, it is estimated that over 2 to 3% of adults in the United States are afflicted with degenerative mitral valve disease. Patients with degenerative MV pathology who develop symptoms of MR have a poor prognosis, with annual mortality rates of up to 34%. 

Additionally, according to the information provided by the Cleveland Clinic, it is stated that each year, roughly 28,000 people die from heart valve disease in the United States. Mitral valve prolapse is a common heart valve problem. Thus, the above factors are expected to hold the region in the dominant position. 

COVID-19 Impact Analysis on Annuloplasty Rings Market

The disruptions and the postponements of the surgeries during the pandemic have affected the market growth. The supply chains of the devices across the borders have been disrupted which has created a scarcity of the annuloplasty rings in hospitals. This has created a negative impact on the overall market growth. The delay in the diagnosis of the disease condition due to the fear of increasing COVID-19 cases has also created a negative impact on market growth. 

Annuloplasty Rings Market Competitive Landscape

The major global players in the market include Medtronic Plc, Labcor Laboratórios Ltd, Braile Biomédica, CARDION s.r.o, Edwards Lifesciences Corporation, Abbott Laboratories, Corcym UK Limited, FOC Medical SA, Genesee BioMedical Inc., DCD PRODUCTS SRL among others.

Why Purchase the Report?

• To visualize the global annuloplasty rings market segmentation based on type, application, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of annuloplasty rings market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global annuloplasty rings market report would provide approximately 53 tables, 47 figures and 176 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies