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Transcatheter Aortic Valve Replacement Market

Transcatheter Aortic Valve Replacement Market

Transcatheter Aortic Valve Replacement Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

145

Base Year:

2022

Date

Apr - 2023

Format:

PDF XLS PPT

Report Code:

VMR-2105

Segments Covered
  • By Implantation Procedure By Implantation Procedure Transfemoral, Transapical, Transaortic, Stainless Steel, Nitinol, Cobalt Chromium, Other Procedures
  • By Material By Material Stainless Steel, Nitinol, Cobalt Chromium, Other Materials
  • By Mechanism By Mechanism Balloon-Expanding Valve, Self-Expanding Valve
  • By End-Use By End-Use Hospitals, Ambulatory Surgical Centers, Other End-Uses
  • By Region By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Base YearBase Year: 2022
Forecast YearsForecast Years: 2023 - 2030
Historical YearsHistorical Years: 2017 - 2021
Revenue 2022Revenue 2022: USD 5.5 Billion
Revenue 2030Revenue 2030: USD 8.8 Billion
Revenue CAGRRevenue CAGR (2023 - 2030): 7%
Fastest Growing Region Fastest Growing Region (2023 - 2030) Asia Pacific
Largest Region Largest Region (2022): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Transcatheter Aortic Valve Replacement Market Share

The global Transcatheter Aortic Valve Replacement Market was valued at USD 5.5 Billion in 2022 and is projected to reach a value of USD 8.8 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 7% between 2023 and 2030.

Premium Insights

Transcatheter Aortic Valve Replacement (TAVR) is a minimally invasive surgery to replace an inadequately functioning thickened aortic valve (aortic valve stenosis). The body's major artery and the left lower heart chamber are near the aortic valve. (aorta). Reduced blood movement from the heart to the body results from improper valve opening. TAVR uses smaller incisions and a thin, flexible tube (catheter) to access the heart instead of surgical aortic valve replacement, necessitating a lengthy incision down the sternum (open-heart surgery). The indications and symptoms of aortic valve stenosis, such as fatigue, shortness of breath, fainting, and chest pain, can be lessened with TAVR by restoring blood flow. People at risk of problems from surgical aortic valve replacement may be good candidates for TAVR. (open-heart surgery). Following consultation with a group of heart and heart surgery experts, who collaborate to choose the most effective course of action, treating aortic stenosis with TAVR is made. Transcatheter aortic valve implantation or transcatheter aortic valve repair (TAVI).

Transcatheter Aortic Valve Replacement Market Size, 2022 To 2030 (USD Billion)

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The increase in the prevalence of cardiovascular diseases in the senior population, better surgical treatments, and rising demand for surgical technologies are driving the Transcatheter Aortic Valve Replacement (TAVR) market. Furthermore, healthcare spending has significantly increased, supporting the market's growth. These factors have fueled the market's rapid expansion throughout the anticipated era. Global demand for the industry is therefore anticipated to increase. Additionally, a rise in the acceptance rate of TAVI treatments, the approval of new devices, and more clinical proof of success are driving the industry.

The rising number of patients with cardiovascular disease is fueling the market's expansion. Cardiovascular diseases lead to Transcatheter Aortic Valve Replacement ICD 10, which raises the need for a successful valve replacement procedure. As a result, the market trends for TAVR are spreading as aortic stenosis becomes more prevalent. The market is expanding due to increasing technological advancements, the demand for minimally invasive catheter-based procedures, and patients looking for a quick recovery from their treatment. Additionally, older patients are more likely to undergo this treatment because they cannot have a surgical aortic valve replacement, and open-heart surgery is extremely risky. (SAVR).

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Economic Insights

A global or national economic downturn can have various medical effects. For both elective and non-elective surgery fields, surgical volume typically decreased when economic indicators decreased. Moreover, The invasion of Ukraine by Russia may cause long-term supply chain disruptions that could later have an impact on the United States, whether through delays brought on by restricted airspace and expensive fuel, the effect on the extraction of raw materials for medical supplies, the impact on the world's reliance on oil and gas, or cyberattacks on healthcare systems.

Top Market Trends

1. Growing Geriatric Population: The elderly (65 or older) are more prone to aortic valve stenosis. For instance, according to the study Epidemiology of aortic valve stenosis and aortic incompetence (AI), AS/AI prevalence was comparable around the globe in February 2020. There are major differences in the epidemiology of AS between developed and developing nations. In addition, the frequency of aortic valve stenosis rises sharply with age, reaching 9.8% in people 80 to 89 years old, 3.9% in people 70 to 79 years old, 1.3% in people 60 to 69 years old, and 0.2% in people 50 to 59 years old. As a result, these studies show that patients with AS use transcatheter heart valves, and the market for TAVR is anticipated to increase over the forecast period.

2. Rising Prevalence of Cardiovascular Diseases: Cardiovascular diseases are the leading cause of mortality worldwide. 17.9 million people globally died from CVDs in 2019, accounting for 32% of all deaths, while heart attacks and strokes directly caused 85% of deaths. About 75 percent of CVD-related fatalities occur in low- and middle-income nations. Additionally, 38% of the 17 million premature deaths (before age 70) brought on by non communicable illnesses in 2019 were attributable to CVDs.

3. Higher Demand for Minimally Invasive Surgery: Compared to traditional open procedures, minimally invasive surgeries are significantly less frightening. Due to their shorter hospital stays, improved accuracy, reduced scarring and pain, and smaller incisions, minimally invasive surgical procedures are becoming increasingly popular. Additionally, minimally invasive surgical (MIS) treatments are much less expensive than in-patient and traditional open surgeries with the same results, increasing the value for both the patient and insurance companies. In the upcoming years, this tendency is probably going to persist.

Market Segmentation

The global Transcatheter Aortic Valve Replacement market can be categorized on the following: Implantation Procedure, Material, Mechanism, End Use, and Region. Based on the Implantation Procedure, the market can be categorized into Transfemoral, Transapical, Transaortic, Stainless Steel, Nitinol, Cobalt Chromium, and Other Procedures. Furthermore, based on Material, the market can be further split into Stainless Steel, Nitinol, Cobalt Chromium, and Other Materials. Moreover, based on the End Use, the market can be further fragmented into Hospitals, Ambulatory Surgical Centers, and Other End-Uses. In addition, based on Mechanism, the market can be segmented into Balloon-Expanding Valve and Self-Expanding Valve. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Below tree is interactive. You can click the nodes to get more information.

Based on the Implantation Procedure

Transfemoral to Lead with the Largest Market Share Owing to Increasing Demand During Procedures

The transfemoral will dominate the Transcatheter Aortic Valve Replacement market segment during the forecast period. In contrast to surgical aortic valve replacement (SAVR), the transfemoral approach has gained popularity among patients due to its ease of use, ability to allow for early mobility, availability of awake operations, quick turnaround times, and minimal need for incisions. Over the forecast period, the transapical sector is anticipated to experience the fastest CAGR. The transapical approach's proximity to the aortic valve and left ventricular apex enhances operator mobility during device insertion and permits using sheaths with larger diameters. Innovative transapical devices have been created and refined by several companies.

Based on Material

Nitinol to Account for the Largest Market Share Owing to Benefits Offered by this Material

During the forecast period, the segment of nitinol will dominate the global Transcatheter Aortic Valve Replacement market. Nickel and titanium are almost equally distributed in the alloy known as titanium. Additionally, due to its unique qualities, which include its lack of magnetism, biocompatibility, flexibility, and fatigue resistance, it is frequently used in most TAVR devices. This enables medical devices in minimally invasive surgeries and implants to provide improved outcomes, thereby boosting segment growth.

Based on Mechanism

Balloon-Expanding Valve Segment Will Account for the Largest Market Share due to its Increasing Use

The segment of the balloon-expanding valve will dominate the global Transcatheter Aortic Valve Replacement market during the forecast period. The balloon-expanding valve is the type of TAVR used most frequently. Balloon-expanding valves make it simpler to reach the coronary arteries because they are non-repositionable, intra-annular, and have a lower stent frame profile. For example, a horizontal aorta (aortic angulation >60°) makes it easier to insert a valve in patients with difficult vascular anatomy because the delivery technique is more steerable than the self-expanding device. Additionally, the segment's expansion is being fueled by numerous product releases.

Based on End Use

Hospitals to Account for the Largest Market Share Owing to Rising Number of Cardiovascular Surgeries in Hospitals

During the forecast period, the segment of hospitals will dominate the global Transcatheter Aortic Valve Replacement market. Rising AS and more TAVR procedures influence the market's expansion. The American College of Cardiology Foundation reports that hospitals in the United States conducted 72,991 TAVR procedures in 2019. Additionally, technological developments in TAVR products and systems fuel the sector's development, bettering healthcare infrastructure, and favorable reimbursement scenarios in established and developing nations.

Based on Region

North America to Lead Global Sales Because of Rising Sales of Hybrid EVs

The global Transcatheter Aortic Valve Replacement market is expected to be dominated by the region of North America during the forecast period. The market is growing due to its sophisticated healthcare system and the rising incidence of conditions like reflux and AS. Growth in the region is likely to be fuelled by the increasing prevalence of AS diseases and aortic regurgitation in the populace over the forecast period. Another important factor is the existence of numerous reputable market participants who continuously issue updates to their current products.

The Asia Pacific is anticipated to grow faster because of the region's improved understanding of TAVI heart valve replacement surgery among doctors and healthcare professionals and the region's growing senior populations in places like China and Japan. The unforeseen rise in the prevalence of cardiovascular diseases and the upgraded healthcare system would also aid in the expansion and growth of the TAVR market.

Competitive Landscape

The key players in the global Transcatheter Aortic Valve Replacement market include - Medtronic PLC (U.S.), Abbott Laboratories Inc. (U.S.), Boston Scientific Corp. (U.S.), Meril Life Sciences Pvt. Ltd. Inc. (India), Edwards Lifesciences Corp. (U.S.), St. Jude Medical Inc. (U.S.), JenaValve Technology Inc. (U.S.), Bracco SPA (Italy), Transcatheter Technologies GmbH (Germany) among others.

Recent Market Developments

· September 2022: The U.S. Food & Drug Administration ("FDA") has granted the SavvyWire, a new guidewire for TAVR treatments, 510(k) regulatory clearance, according to OpSens Inc., a medical device business with a focus on cardiology that offers cutting-edge solutions based on its unique optical technology.

· August 2022: Medtronic received the FDA clearance to the Next-Gen TAVR System for Treatment of Symptomatic Severe Aortic Stenosis. It is intended to improve usability and offer more control and precision throughout the process.

· September 2020: The Hydra TAVR device was just introduced in Central Europe by SMT (Sahajanand Medical Technology Pvt Ltd), an international medical device company with its headquarters in India and a focus on cutting-edge patient care in the cardiovascular sector.

Segmentation of the Global Transcatheter Aortic Valve Replacement Market

Parameter Details
Segments Covered

By Implantation Procedure

  • Transfemoral
  • Transapical
  • Transaortic
  • Stainless Steel
  • Nitinol
  • Cobalt Chromium
  • Other Procedures

By Material

  • Stainless Steel
  • Nitinol
  • Cobalt Chromium
  • Other Materials

By Mechanism

  • Balloon-Expanding Valve
  • Self-Expanding Valve

By End-Use

  • Hospitals
  • Ambulatory Surgical Centers
  • Other End-Uses

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Medtronic PLC (U.S.)
  • Abbott Laboratories Inc. (U.S.)
  • Boston Scientific Corp. (U.S.)
  • Meril Life Sciences Pvt. Ltd. Inc. (India)
  • Edwards Lifesciences Corp. (U.S.)
  • St. Jude Medical Inc. (U.S.)
  • JenaValve Technology Inc. (U.S.)
  • Bracco SPA (Italy)
  • Transcatheter Technologies GmbH (Germany)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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FAQ
Frequently Asked Question
  • The global Transcatheter Aortic Valve Replacement valued at USD 5.5 Billion in 2022 and is expected to reach USD 8.8 Billion in 2030 growing at a CAGR of 7%.

  • The prominent players in the market are Medtronic PLC (U.S.), Abbott Laboratories Inc. (U.S.), Boston Scientific Corp. (U.S.), Meril Life Sciences Pvt. Ltd. Inc. (India), Edwards Lifesciences Corp. (U.S.), St. Jude Medical Inc. (U.S.), JenaValve Technology Inc. (U.S.), Bracco SPA (Italy), Transcatheter Technologies GmbH (Germany).

  • The market is project to grow at a CAGR of 7% between 2023 and 2030.

  • The driving factors of the Transcatheter Aortic Valve Replacement include

    • Rising Prevalence of Valvular Diseases and Initiatives for Creating Awareness of Valve Replacement with Favorable Reimbursements to be the Key Drivers for the Market Growth

  • North America was the leading regional segment of the Transcatheter Aortic Valve Replacement in 2022.