Transcatheter Aortic Valve Replacement Market is expected to reach US$ 19.63 billion by 2031

Transfemoral Implantation Segment Holds Largest Share of Transcatheter Aortic Valve Replacement Market  

According to our new research study on "Transcatheter Aortic Valve Replacement Market Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Procedure, Material, Mechanism, End User, and Geography," the market is expected to grow from US$ 6.34 billion in 2023 to US$ 19.63 billion by 2031; it is estimated to register a CAGR of 15.2% from 2023 to 2031. The rising number of aortic valve replacement surgeries and the adoption of minimally invasive procedures for aortic stenosis (AS) treatments propel the transcatheter aortic valve replacement market growth. However, the increasing number of product recalls hamper the market growth.

Drivers Impacting Transcatheter Aortic Valve Replacement Market Size

Transcatheter aortic valve replacement is a less invasive approach for aortic valve replacement compared to a traditional open surgery. It involves making smaller incisions, often using specialized surgical instruments and video-assisted technology, to access the heart to replace a poorly working aortic valve with an artificial valve, either a mechanical one or a bioprosthetic one. The potential benefits of transcatheter aortic valve replacement include shorter hospital stays, reduced scarring, and faster recovery times (in normal conditions). In most cases, the procedure is chosen because they cause less tissue damage and are followed by a quicker recovery time. According to an article published in the American Heart Association Journal in February 2022, since its inception in 2002, the transcatheter aortic valve replacement techniques has become a preferred method of aortic valve replacement for treating severe, symptomatic AS in the US due to several factors contributing to cost reduction, rendering it less expensive than surgical aortic valve replacement. This was evident from the 72,991 transcatheter aortic valve replacement procedures performed in 2019 compared to the 57,626 surgical aortic valve replacement procedures.

Transcatheter Aortic Valve Replacement Market, by Region, 2023 (%)

Source: The Insight Partners Analysis

Surgeons have embraced transcatheter aortic valve replacement techniques due to their potential benefits, and advancements in medical devices and surgical skills have further facilitated their widespread adoption. As a result, healthcare institutions are investing in training their medical teams and acquiring the necessary equipment to meet the increasing demand for minimally invasive aortic valve replacement surgeries, thereby providing patients with improved treatment options and enhanced overall healthcare experiences.

Transcatheter Aortic Valve Replacement Market Trends:

A surge in research activity is driven by several factors, including the growing prevalence of aortic valve diseases, advancements in medical technology, and the need for more evidence-based approaches to treatment. Clinical studies are crucial in assessing the safety and efficacy of new surgical techniques, prosthetic valves, and transcatheter interventions. These studies also help identify risk factors, optimize patient selection criteria, and evaluate long-term outcomes to improve patient care and quality of life. As the demand for aortic valve replacement continues to rise, so does the importance of conducting robust clinical trials to provide healthcare professionals and patients with the best evidence for making informed treatment options. With ongoing research and collaboration between medical institutions, the future of aortic valve replacement looks promising, with the potential for even more innovative and effective approaches on the horizon.

A few ongoing clinical trials in the aortic valve replacement devices are mentioned below:

• A multi-center and randomized study started in April 2022 to obtain safety and effectiveness data to support indication expansion for the Medtronic TAVR System, including patients with moderate, symptomatic AS.

Therefore, such advancements are anticipated to bolster the transcatheter aortic valve replacement market growth in the coming years.

Transcatheter Aortic Valve Replacement Market Analysis: Segmental Evaluation

By procedure, the market is segmented into transfemoral implantation, transapical implantation, and transaortic implantation. The transfemoral implantation segment held the largest transcatheter aortic valve replacement market share in 2023 and is anticipated to register the highest CAGR from 2023 to 2031. TAVR has revolutionized the AS treatment approach and is ideally performed as a completely percutaneous procedure through the transfemoral (TF) approach. Several benefits conferred by this approach include the convenience of use, early mobility capability, fast-track protocols, and minimized surgical incisions.

Based on material, the market is segmented into stainless steel, nitinol, cobalt chromium, and others. The cobalt chromium segment held the largest market share in 2023, and it is anticipated to register the highest CAGR from 2023 to 2031.

Based on mechanism, the market is bifurcated into balloon-expanding valve and self-expanding valve. The balloon-expanding valve segment held the largest market share in 2023 and is further anticipated to record the highest CAGR from 2023 to 2031.

In terms of end user, the transcatheter aortic valve replacement market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment held the largest market share in 2023. 

Apart from highlighting factors impacting the market, the transcatheter aortic valve replacement market report depicts the developments of prominent players. Abbott Laboratories; Medtronic Plc.; Artivion Inc; Boston Scientific Corp; Edwards Lifesciences Corp; JenaValve Technology, Inc.; Blue Sail Medical Co Ltd; JC Medical, Inc; Venus Medtech Hang Zhou Inc; and Anteris Technologies Ltd are among the top players operating in the market. The companies have been implementing various strategies that contribute to their growth. These include organic strategies such as product launches, expansions, and product approvals and inorganic strategies such as collaborations and partnerships, all of which are adopted to stay competitive in the market. 

As per company press releases, a few initiatives taken by key players operating in the global transcatheter aortic valve replacement market are listed below:

• In September 2022, Edwards Lifesciences launched the SAPIEN 3 Ultra RESILIA valve, which includes Edwards' breakthrough RESILIA tissue technology with the industry-leading SAPIEN 3 Ultra transcatheter aortic heart valve. The valve was launched after the US FDA approved it for commercial applications.

In September 2020, Boston Scientific Corporation announced the launch of ACURATE neo2 aortic valve system in Europe. This new transcatheter aortic valve implantation technology is an improved version designed to enhance the clinical performance of the original ACURATE neo platform. Compared to the previous version of the device, the ACURATE neo2 valve system also has an expanded indication for patients with AS ­– ­with no specified age or risk level – who are considered appropriate candidates for the therapy by cardiac surgeon.

The scope of the transcatheter aortic valve replacement market report focuses on North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). In terms of revenue, North America dominated the transcatheter aortic valve replacement market share in 2023. Further, Asia Pacific is anticipated to record the highest CAGR during 2023–2030. This is attributed to the contributions and market initiatives of the key players operational in Asia Pacific, including Abbott, Medtronic, and Venus Medtech Hang Zhou Inc. In October 2023, Japan Lifeline Co., Ltd signed an exclusive 10-year distribution agreement with Meril Life Sciences Pvt. Ltd. The agreement enables Japan Lifeline to distribute the transcatheter heart valve named “Myval Octacor” in Japan, following its approval by the Ministry of Health, Labor and Welfare. The valve is used in TAVR/TAVI procedures.

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com