As per Future Market Insights’ latest industry analysis, the valuation for the global Transcatheter Heart Valve Replacement (TAVR) Market was around US$ 5.7 Billion in 2022 and is projected to exhibit a CAGR of 14.8% over the forecast period, with an estimated valuation of US$ 25.4 Billion in 2033.
The rising prevalence of various cardiovascular diseases like valvular heart diseases such as aortic stenosis is one of the major causes of the increased volume of TAVI procedures on a global level, depending on the severity of the diseases. There are various benefits offered by minimally invasive procedures due to which there is a surge in demand for minimally invasive surgeries.
Since the TAVI is a minimally invasive procedure, which involves the implantation of a new valve inside the patient’s heart in order to remove the old or damaged valve, therefore this surging demand for minimally invasive procedures can have a positive impact on the growth of the TAVR market.
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TAVR is a very crucial procedure because it helps in rectifying the sensitive function of the heart in reference to the valves. It is very important that regulatory bodies like FDA should check for the safety and efficacy of TAVR-related products. In the last decade there have been multiple FDA approvals when it comes to TAVI procedures, this paves the way for the growth of the TAVR market.
Key Takeaways from Market Study
- Balloon–expandable transcatheter aortic valves are the leading segment as product, and hold approximately 52.5% market value share in 2022, owing to lower rates of complications post-surgery.
- Severe aortic valve stenosis segment is set to lead in terms of indication of transcatheter heart valve replacement (TAVR) with a projected market value share of around 79.0% by 2033, owing to the rising prevalence of aortic stenosis.
- By end user, hospitals held a share of around 53.6% in 2022; however, independent cardiac catheterization labs are expected to grow at a CAGR of 17.5% during the forecasted years.
- North America held a value share of around 53.3% in 2022, owing to the highest number of TAVR procedures conducted in the region.
“In light of the increasing demand for TAVR procedures over SAVR (Surgical Aortic Valve Replacement) and the increasing prevalence of cardiac diseases, along with the growing demand for minimally invasive procedures, the market for TAVR is predicted to expand globally,” says an analyst of Future Market Insights.
Market Competition
The capacity of healthcare systems and intensive care units (ICUs) has been substantially challenged by the coronavirus disease 2019 (COVID-19) pandemic, resulting in the suspension of the majority of elective treatments, including transcatheter aortic valve replacement (TAVR).
The market for transcatheter heart valve replacement (TAVR) represents a consolidated market. The market players are focused on developing and launching technologically improved valves in order to improve the efficiency and durability of the value and minimize post-operative complications.
- On 12 September 2022, Edwards Lifesciences launched the Sapien 3 Ultra Resilia Valve, after getting FDA approval, which will be the first dry storage transcatheter heart valve available in the United States.
- The U.S. FDA approved the PorticoTM with FlexNavTM transcatheter aortic valve replacement (TAVR) system from Abbott on September 20, 2021, for the treatment of patients with symptomatic, severe aortic stenosis. The business increased the scope of its structural cardiac solutions portfolio with this most recent TAVR development.
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What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the transcatheter heart valve replacement (TAVR) market in its latest study, presenting a historical demand assessment of 2016–2022 and projections for 2023–2033. The global transcatheter heart valve replacement (TAVR) market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on the product (self–expandable transcatheter aortic valves, balloon-expandable transcatheter aortic valves, and mechanically expanded transcatheter aortic valves), by indication (severe aortic valve stenosis, valve-in-valve procedures {failed bioprosthesis}, and aortic regurgitation), by end user (hospitals, independent cardiac catheterization labs, and ambulatory surgical centres), across seven key regions of the world.
About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business.
Key Companies Profiled
- Abbott
- Edwards Lifesciences Corporation
- Medtronic
- Boston Scientific Corporation
- JenaValve Technology, Inc
- Meril Life Sciences
- Sahajanand Medical Technologies Limited
- MicroPort Scientific Corporation
- Venus Medtech (Hangzhou) Inc.
- Suzhou Jiecheng Medical Technology Co. Ltd.
- Peijia Medical Limited.
- Blue Sail Medical Co., Ltd.
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Key Market Segments Covered in the Transcatheter Heart Valve Replacement Industry Research
Product:
- Self – Expandable Transcatheter Aortic Valves
- Balloon-Expandable Transcatheter Aortic Valves
- Mechanically Expanded Transcatheter Aortic Valves
Indication:
- Severe Aortic Valve Stenosis
- Valve-in-Valve Procedures (Failed Bioprosthesis)
- Aortic Regurgitation
End User:
- Hospitals
- Independent Cardiac Catheterization Labs
- Ambulatory Surgical Centres
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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