Transcatheter Valve Replacement Market

Transcatheter Valve Replacement Market Outlook (2022-2032)

The global transcatheter valve replacement market is valued at US$ 3.6 billion. The market is projected to expand at an impressive CAGR of 13.4% and generate an absolute dollar opportunity worth US$ 9.2 billion over the assessment period (2022-2032).

Report Attributes	Details
Transcatheter Valve Replacement Market Size (2021A)	US$ 3.2 Billion
Estimated Market Value (2022E)	US$ 3.6 Billion
Forecasted Market Value (2032F)	US$ 12.8 Billion
Global Market Growth Rate (2022-2032)	13.4% CAGR
North America Market Share (2021)	~27%
North America Growth Rate (2022-2032)	~13.5% CAGR
United States Growth Rate (2022-2032)	~13.7% CAGR
Market Share of Top 5 Companies	~45%
Key Companies Profiled	Edwards Lifesciences Corporation Medtronic Inc. Boston Scientific Corporation Abbott Laboratories St. Jude Medical, Inc. JenaValve Technology SYMETIS Braile Biomedica CryoLife, Inc. Micro Interventional Devices, Inc. LivaNova Plc

Rising prevalence of aortic valve defects among patients and their demand to undergo minimally invasive surgeries with fewer complications as compared to surgical aortic valve replacement or open-heart surgeries are factors driving market expansion.

Transcatheter Valve Replacement Market Analysis (2017-2021) Vs. Growth Forecasts (2022-2032)

Valve diseases and valve regurgitation have been emerging as leading causes of death over the last few years. Bicuspid aortic valve faults occur in more than 13 out of 1,000 people in the United States, according to the American Heart Association. Rising prevalence of cardiac valve disorders is supporting the growth of the transcatheter heart valve replacement market.

These replacement procedures are minimally-invasive procedures for replacing thickened aortic valves. These surgeries help in restoring blood flow and aid in reducing the signs and symptoms of aortic valve stenosis.

Patients at risk from open-heart surgery because of complications can prefer transcatheter valve replacement owing to its various benefits.

• Short Term (2022 Q2 to 2025): Rise in patients with heart diseases fueling transcatheter valve replacement market growth.
• Medium Term (2025-2028): Market likely to uplift in Asia Pacific region on the back of rapid adoption of transcatheter valves, rising geriatric population, improving health infrastructure, and strong government support.
• Long Term (2028-2032): Transcatheter valve replacement market bound to grow on the back of improvements in surgeries along with the launch of innovative products.

The global transcatheter valve replacement market witnessed 10% CAGR from 2017 to 2021. According to the recent analysis done by Fact.MR, a market research and competitive intelligence provider, the global market is projected to expand 13.4% CAGR during the forecast years (2022-2032).

Market share analysis of replacement type and region are provided in a nutshell. Under the replacement type segment, transcatheter aortic valve replacement (TAVR) held a dominant position in the market with 78.6% share in 2021.

Why is Demand for Transcatheter Valve Replacement Expected to Surge?

“High Demand for Less Invasive Surgeries to Fuel Market Growth”

Transcatheter valve replacement is a minimally-invasive procedure where a new valve is implanted without removing the old or damaged valve. The surgery is similar to placing a stent in the artery and is available for people with symptomatic aortic stenosis who are at low, intermediate, or high risk of standard valve replacement surgery.

In addition, the major advantage of the transcatheter valve replacement procedure is that it can be done through small openings, thereby leaving all chest bones in place. It is also a beneficial treatment option for patients who have not been considered for a valve replacement procedure.

These surgeries require patients to spend less time in hospitals as compared to surgical valve replacement. Also, the procedure is beneficial to patients in all risk categories and offers an effective option to improve the quality of life for those who may otherwise have limited options for aortic valve repair.

Which Factors May Impede Transcatheter Valve Replacement Market Growth?

Aftermath Risks of Surgeries to Hamper Market Growth

All types of surgical procedures come with some type of risk. Transcatheter valve replacement procedures also include potential risks, which may hamper market growth to some extent.

For instance, these surgeries may lead to bleeding, kidney disease, heart attack, infection, and stroke. Other possible risks include blood vessel complications, problems with replacement valves such as leaking or valve slipping, arrhythmias, and sometimes even death.

Country-wise Insights

Why is the U.S. a Lucrative Market for Transcatheter Valve Replacement?

The United States transcatheter valve replacement market holds approximately 88.2% share in the North America transcatheter valve replacement market. The U.S. market is poised to expand at the rate of 13.6% owing to the rising prevalence of heart valve diseases and disorders in the country.

More than 5 million people are diagnosed with heart valve disease annually and more than 80,000 aortic valve replacement procedures are carried out in the country every year.

Along with this, favorable reimbursement scenarios for these procedures are additionally fueling the number of patients undergoing this treatment. Also, rising number of transcatheter valve replacement centres in the United States is likely to uplift market growth in the country over the coming years.

Why Does Germany Dominate the European Transcatheter Valve Replacement Market?

The Germany transcatheter valve replacement market dominates the European transcatheter valve replacement market with 23.4% share. The market in Germany is likely to surge owing to improved healthcare infrastructure and increasing prevalence of aortic stenosis in the geriatric population in the country.

More than 25,000 replacement procedures are carried out in Germany every year, according to statistics. Germany is also leading in the clinical adoption of TAVR and TAVI implantations.

Furthermore, the presence of highly skilled interdisciplinary heart specialists in the country is contributing to market growth in Germany, and, in turn, growth of the European market.

Category-wise Insights

Will Demand for Transcatheter Aortic Valve Replacement Remain High Going Forward?

Under replacement type, the transcatheter valve replacement market is segmented into transcatheter aortic valve replacement (TAVR) and transcatheter mitral valve repair (TMVR).

The transcatheter aortic valve replacement segment holds a dominant position in the market with 78.6% share. The segment is projected to rise at the rate of 13.6% on the back of TAVR being applied to patients at all risk levels and patients with the disease being treated without having to undergo open-heart surgery.

Also, TAVR requires patients undergoing minimally-invasive procedures to be administered minimal or no anesthesia, allowing them to be discharged from the hospital the next day. These factors are likely to support segmental growth during the forecast years.

On the other hand, transcatheter mitral valve repair (TMVR) holds 21.4% share in the overall market and is projected to rise at 13.2% CAGR through 2032.

Which Surgical Approach Accounts for a Large Share in Transcatheter Valve Replacement?

Under surgical approach, the transcatheter valve replacement market is segmented into trans-femoral approach, trans-apical approach, and trans-aortic approach.

Amongst them, the trans-femoral approach holds 78.9% market share. The segment is projected to rise at 13.8% CAGR owing to factors such as augmented focus on investigational products.

Why are Hospitals the Main Centres for Transcatheter Valve Replacement Procedures?

Under end user, the transcatheter valve replacement market is segmented into hospitals, ambulatory surgical centres, specialty clinics, and others.

Amongst them, hospitals dominate the market with 65.4% share and are poised to rise at the rate of 14.2% during the forecast years. This high growth is attributed to patients seeking efficient and effective treatment reducing recovery time and hospital stay. Also, high adoption of new medical devices and technologies in hospitals will support segmental growth over the decade.

Competitive Landscape

Prominent market players are concentrating on innovation and collaborations with other market players to meet the varied needs of patients. The market is being driven by greater awareness, advances in technologies, and geographic expansions.

• Edwards Lifesciences Corporation announced a strategic investment to acquire Corvia Medical, Inc., in 2019. The company designs devices to treat heart failure with preserved or mid-range ejection fraction and devices that provide dynamic and continuous decompression of the left atrium, reducing symptoms and slowing the progression of heart failure.
• Medtronic Inc. announced the acquisition of Affera, a cardiac arrhythmia treatment developer, in 2022. This acquisition is likely to expand the cardiac ablation portfolio of the company, enabling the creation of maps to diagnose arrhythmias.

Fact.MR has provided detailed information about the price points of key players in the transcatheter valve replacement market positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segments Covered in Transcatheter Valve Replacement Industry Research

• Transcatheter Valve Replacement Market by Replacement Type :

  • Transcatheter Aortic Valve Replacement (TAVR)
  • Transcatheter Mitral Valve Repair (TMVR)

• Transcatheter Valve Replacement Market by Surgical Approach :

  • Trans-femoral Approach
  • Trans-apical Approach
  • Trans-aortic Approach

• Transcatheter Valve Replacement Market by End User :

  • Hospitals
  • Ambulatory Surgical Centres
  • Specialty Clinics
  • Others

• Transcatheter Valve Replacement Market by Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA