Transcatheter Heart Valve Replacement Market Snapshot

The global transcatheter heart valve replacement market enjoys a valuation of USD 5.7 Billion in 2022, and it is further projected to expand at a CAGR of 14.8% over the forecasted years. According to a recent study by Future Market Insights, balloon-expandable transcatheter aortic valves are leading the market with a share of about 52.5% in the year 2022, within the global market.

Market Outlook:

Data Points Market Insights
Market Value 2022 USD 5.7 Billion
Market Value 2033 USD 25.4 Billion
CAGR 2023 to 2033 14.8%
Market Share of Top 5 Countries 79.5%
Key Market Players 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; and Blue Sail Medical Co., Ltd.

Transcatheter heart valve replacement is also known as percutaneous aortic valve replacement (PAVR). It is a less invasive procedure to replace the damaged aortic valve with a bioprosthetic aortic valve. This procedure is performed to treat patients suffering from severe aortic stenosis (aortic stenosis), valve-in-valve procedures (failed bioprosthesis), and aortic regurgitation that restricts blood flow from the ventricle to the aorta caused by the building up of calcium on the valve. A transcatheter aortic valve is designed for patients for whom conventional open-heart surgery is not a safe option.

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Sales Analysis of Transcatheter Heart Valve Replacement Market from 2016 to 2022 Vs Market Outlook for 2023 to 2033.

The global sales of the market are anticipated to rise at a CAGR of 14.8% between 2023 and 2033, owing to the rising prevalence of various cardiovascular diseases.

The global market holds around 40.2% share of the overall global cardiac surgery market with a value of around USD 14.2 Billion, in 2022.

One of the key factors propelling growth of the market in the coming years is the surge in the demand for minimally invasive procedures due to the various benefits offered by these surgeries.

Several published studies in recent times have concluded that the second-generation TAVR devices have better safety-related benefits. These studies also conclude that transcatheter heart valve devices are linked with a lower rate of paravalvular regurgitation, valve embolization and other bleeding events. The advancement in technologies is quite trendy in the dynamic field of transcatheter aortic valve implantation (TAVI). This aspect will support the expansion of the market for transcatheter heart valve replacement.

Owing to the above-mentioned factors, the global market is expected to grow at a prominent pace, and reach a valuation of around USD 25.4 billion during the year 2033.

What are the Key Opportunities for the Manufacturers Operating in the Global Market?

The market is anticipated to expand due to ongoing clinical research in TAVR innovations, creating a huge opportunity for the market players to step into the market.

At the forefront of cardiovascular care, cardiovascular experts who treat some of the most complex heart conditions by using the latest technology and landmark research, including transcatheter aortic valve replacement (TAVR), lead several comprehensive programs. TAVR is a new, rapidly developing therapy, which offers patients the best possible TAVR technology.

In order to keep a running clinical research programme that gives patients access to advanced technologies, several research groups are participating. TAVR valves with a smaller diameter, valves with better sealing, and valves that may be moved for more accurate placement are a few examples of more recent, experimental technologies.

Numerous heart patients will benefit from TAVR as a treatment for heart valve disease owed to the market opportunities being created by the market players due to the rapid speed of clinical research in TAVR Innovations.

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What are the Factors Restraining Demand within the Global Market?

The market is expected to grow owed to the rising number of procedures and FDA approvals. However, some factors limit the market.

The high cost that is linked to transcatheter aortic valves is one of the key restraining factors for the TAVR market. Price is a crucial factor, which decides whether the device is feasible to be bought. Since the prices associated with such valves are quite high, therefore this is considered a restraining factor for this market.

Although TAVR is considered an alternative to the open-heart aortic valve replacement procedure, there are some complications related to this kind of procedure. These potential risks include complications in the blood vessels, stroke, problems related to the rhythm of the heart, heart attack, infection, serious bleeding, problems related to the positioning of the valve like valve slipping out of place or regurgitation and others.

Country-wise Insights

What Makes the USA a Large Market for Transcatheter Heart Valve Replacement?

The USA dominates the North American region with a total market share of around 91.4% in 2022 and is expected to continue to experience the same growth throughout the forecast period.

As per the findings from the American College of Cardiology, the prevalence of valvular heart diseases is quite high in reference to the American population. It reports that there are more than 5 million Americans who are diagnosed with such diseases in a year. This number includes 1.5 million individuals who suffer from aortic stenosis in the USA and the ones who suffer from severe aortic stenosis comprise around 500,000 individuals, this is around 33% of the cases suffering from aortic stenosis.

Since the primary treatment for severe aortic stenosis is valve replacement surgery, therefore this factor influences the TAVR market in the most favourable manner in the USA market.

What is the Scenario of Germany within the Transcatheter Heart Valve Replacement Market Space?

Germany holds a market share of 33.9% in 2022 in the European transcatheter heart valve replacement market, owing to the presence of many established players and a maximum number of TAVI procedures among European countries. According to an article, 'Valve for Life': tackling the deficit in transcatheter treatment of heart valve disease in the UK - published in Open Heart in March 2021, 292 TAVI procedures per million population (PMP) were conducted in 2019 in Germany. According to a review by Cardiac Interventions Today, TAVR has become increasingly popular throughout Europe and is currently the most widely used method for treating aortic stenosis in older people ever since the feasibility and early safety of the procedure were evaluated and significant technical concerns were resolved.

What Makes India a Highly Lucrative Market for Transcatheter Heart Valve Replacement?

India holds a share of around 44.3% in the South Asia market in 2022. Both rheumatic and non-rheumatic aortic stenosis are currently overrepresented in India. Despite the fact that TAVR has altered the treatment of non-rheumatic aortic stenosis, there is reason to be optimistic about the future of rheumatic aortic stenosis. Due to the enormous demand and limited resources, the device and pharmaceutical sectors collaborated with the government to disseminate TAVR across the Indian subcontinent. They can also assist in the training of medical professionals, raising awareness among the general public and medical experts, and researching and developing novel valves that are tailored to the specific needs of the Indian population.

What is the Outlook of China in the Transcatheter Heart Valve Replacement Market?

China has a market share of 51.8%, with a market value of USD 87.2 Million in the East Asia transcatheter heart valve replacement market in 2022.

As China's infrastructure matures and offers more device alternatives due to technological advancements, access to transcatheter aortic valve replacement (TAVR) procedures will increase quickly. To support the predicted rise of TAVR, domestic companies specialising in devices for structural heart disorders are also expanding quickly.

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Category-wise Insights

Which Transcatheter Heart Valve Replacement Product is driving the Market Growth?

Self expandable transcatheter aortic valves are expected to give high growth at a CAGR of 16.0% between 2023 and 2033. Self-expandable valves (SEVs) have a better hemodynamic profile with a lower mean gradient and a higher effective orifice area at discharge and at 1-year follow-up. The supra-annular design of SEVs can lessen the danger of significant transvalvular gradients by reducing the impact of valve asymmetry and under-expansion. These factors promote product adoption globally.

Which Indication is Largely of Concern within the Global Market?

TAVR procedures are mostly preferred for patients suffering from severe aortic valve stenosis. It has a market share of 76.7% in the global market in 2022.

Chest pain, shortness of breath, fainting, and weariness are some of the indications and symptoms of aortic valve stenosis that can be lessened with TAVR. For those who run the risk of problems from surgical aortic valve replacement, TAVR may be an option. The heart valve can be replaced to treat severe AS, a condition that poses a life-threatening risk. Aortic valve replacement is the main form of treatment for severe AS, thus promoting market expansion.

Which End User Benefits the Most from the Sales within the Market?

Hospitals hold a market share of 53.6% during the year 2022. Hospitals are the primary places where complicated and technologically advanced surgical procedures are undertaken. TAVR is normally carried out in a hospital by cardiologists, or physicians who specialise in cardiac surgeries. The medical professionals will measure the valve opening before TAVR, after which they will give patients sedatives or tranquillizers as well as medications to stop potentially fatal blood clots. Owed to comprehensive care within the hospital settings, the segment is set to expand at a lucrative rate over the forecast period.

Competitive Landscape

Increasing products in the pipeline and approval by the regulatory bodies, expansion in other regions, and marketing approvals in different regions, are key differentiating strategies that TAVR manufacturers are adopting. The market's dynamics have changed due to increased awareness.

Instances of important developmental strategies used among market participants in the transcatheter heart valve replacement market are presented below:

  • The VitaFlow LibertyTM, Microport's first motorised retrievable transcatheter aortic valve (TAVI) system, obtained authorization for commercialization in China in September 2021.
  • In August 2021, JenaValve received FDA approval for ALIGN-AR pivotal trial with a trilogy valve for aortic regurgitation treatment.
  • In September 2020, Boston Scientific introduced the ACURATE neo2 aortic valve system in Europe, which improves clinical performance and has a broader indication for patients with aortic stenosis.

Similarly, recent developments related to companies manufacturing transcatheter heart valve replacement products have been tracked by the team at Future Market Insights. These are available in the full report.

Report Scope as per Transcatheter Heart Valve Replacement Industry Analysis

Attribute Details
Forecast Period 2016 to 2022
Historical Data Available for 2023 to 2033
Market Analysis USD Million for Value
Key Regions Covered North America; Latin America; Europe; South Asia; East Asia; Oceania; and the Middle East & Africa
Key Countries Covered The USA, Canada, Brazil, Mexico, Argentina, The United Kingdom, Germany, Italy, Russia, Spain, France, Benelux, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Türkiye, GCC Countries and South Africa
Key Market Segments Covered Product, Indication, End User, and Region
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.
Pricing Available upon Request
Table of Content
  • 1. Executive Summary
  • 2. Market Overview
  • 3. Key Market Trends
  • 4. Key Success Factors
  • 5. Market Background
  • 6. COVID-19 Crisis - Impact Assessment
  • 7. Global Market Demand (in Value or Size in USD Million) Analysis 2016 to 2022 and Forecast, 2023 to 2033
  • 8. Global Market Analysis 2016 to 2022 and Forecast 2023 to 2033, By Product
    • 8.1. Self–Expandable Transcatheter Aortic Valves
    • 8.2. Balloon-Expandable Transcatheter Aortic Valves
    • 8.3. Mechanically Expanded Transcatheter Aortic Valves
  • 9. Global Market Analysis 2016 to 2022 and Forecast 2023 to 2033, By Indication
    • 9.1. Severe Aortic Valve Stenosis
    • 9.2. Valve-in-Valve Procedures (Failed Bioprosthesis)
    • 9.3. Aortic Regurgitation
  • 10. Global Market Analysis 2016 to 2022 and Forecast 2023 to 2033, By End User
    • 10.1. Hospitals
    • 10.2. Independent Cardiac Catheterization Labs
    • 10.3. Ambulatory Surgical Centres
  • 11. Global Market Analysis 2016 to 2022 and Forecast 2023 to 2033, By Region
    • 11.1. North America
    • 11.2. Latin America
    • 11.3. Europe
    • 11.4. East Asia
    • 11.5. South Asia
    • 11.6. Oceania
    • 11.7. Middle East and Africa (MEA)
  • 12. North America Market Analysis 2016 to 2022 and Forecast 2023 to 2033
  • 13. Latin America Transcatheter Heart Valve Replacement Market Analysis 2016 to 2022 and Forecast 2023 to 2033
  • 14. Europe Market Analysis 2016 to 2022 and Forecast 2023 to 2033
  • 15. East Asia Market Analysis 2016 to 2022 and Forecast 2023 to 2033
  • 16. South Asia Market Analysis 2016 to 2022 and Forecast 2023 to 2033
  • 17. Oceania Market 2016 to 2022 and Forecast 2023 to 2033
  • 18. Middle East and Africa (MEA) Market Analysis 2016 to 2022 and Forecast 2023 to 2033
  • 19. Market Structure Analysis
  • 20. Competition Analysis
    • 20.1. Abbott
    • 20.2. Edwards Lifesciences Corporation
    • 20.3. Medtronic
    • 20.4. Boston Scientific Corporation
    • 20.5. JenaValve Technology, Inc.
    • 20.6. Meril Life Sciences
    • 20.7. Sahajanand Medical Technologies Limited
    • 20.8. MicroPort Scientific Corporation
    • 20.9. Venus Medtech (Hangzhou) Inc.
    • 20.10. Suzhou Jiecheng Medical Technology Co. Ltd.
    • 20.11. Peijia Medical Limited
    • 20.12. Blue Sail Medical Co., Ltd.
  • 21. Assumptions and Acronyms Used
  • 22. Research Methodology

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

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • The Middle East and Africa (MEA)

Frequently Asked Questions

What is the transcatheter heart valve replacement (TAVR) market size reported by FMI for 2022?

The global transcatheter heart valve replacement (TAVR) market is worth USD 5.7 Billion for 2022, and is set to expand 4.0X over the next ten years.

What is market estimated to reach in 2023?

The global market is estimated to reach USD 6.4 Billion in 2023.

What is the market valuation expected for 2033?

The market is expected to reach USD 25.4 Billion by end of 2033.

What value CAGR did the market exhibit over the last 6 years?

The market exhibited a value CAGR of 8.9% in the last 6 years.

What is the projected CAGR for the market from 2023 to 2033?

market is projected to grow at a CAGR of 14.8% between 2023 and 2033.

Which product will garner significant value share by 2023?

Self–expandable transcatheter aortic valves by product segment will garner a significant share of 47.9% in 2023.

Which indication is predicted to expand rapidly between 2023 and 2033?

Severe aortic valve stenosis by indication segment is predicted to expand rapidly with a CAGR of 15.1% between 2023 and 2033.

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