Allied Market Research

2024

Transcatheter Heart Valve Replacement Market

Transcatheter Heart Valve Replacement Market Size, Share, Competitive Landscape and Trend Analysis Report by Product (Transcatheter Aortic Valve Replacement (TAVR), Transcatheter Mitral Valve Replacement (TMVR)), by Application (Aortic Valvular Heart Disease, Mitral Valvular Heart Disease), by Surgical Approach (Transfemoral Approach, Transapical Approach, Transaortic Approach) and by End User (Hospitals, Ambulatory Surgical Centers, Specialized Cardiac Centers, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Roshan Deshmukh
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Transcatheter Heart Valve Replacement Market Outlook - 2027

A heart valve is a component of heart facilitates unidirectional blood flow through the heart. The abnormal functioning of the heart valve leads to valvular heart disease. However, these dysfunctioning, damaged and defective heart valves can be cured or replaced by artificial valves. Transcatheter aortic valve replacement (TAVR), sometimes summoned as transcatheter aortic valve implantation (TAVI) is a minimally invasive surgical operation to replace a damaged, narrowed aortic valve that fails to operate properly and operates on identical principal as that of cardiac stent is implant in delivery of a replacement valve. This operative involves little risk as it does not mandate opening the chest cavity or stopping the heart. Artificial valves are designed and structured using a mixture of metal mesh and animal tissues. This revolutionary artificial valve begins instant operations of the regulating blood flow once it gets in the target location.

TAVR has potential in providing relief from can relieve aortic valve stenosis and improvises survival chances and enables valve replacement surgery in people having a high risk of surgical complications, typically in older patients that cannot have conventional valve replacement surgery.

COVID – 19 scenario analysis: 

  • The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
  • Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
  • Over 4 million people affected globally, with 300 thousand losing their lives due to SARS-CoV-2
  • In addition, it has been observed after some research that people with prevalence of cardiac diseases are at higher risk for mortality and morbidity related to COVID-19 compared to the average population
  • Recent studies have also revealed that COVID-19 can cause heart injury, even in people without heart abnormalities
  • Henceforth, patients and the cardiac arrest treatment industry is facing struggles amid COVID-19 pandemic
  • Due to diversion of medical field towards treating COVID-19,the funding to R&D activities related to cardiac diseases has been reduced, manufacture of ventilators essential for COVID-19 treatment has been prioritized and as a result, this segment have to face negligence subsequently causing negative impact on transcatheter aortic valve replacement market


Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Major drivers for the transcatheter heart valve replacement include technological advancements in valve replacement operatives, growing prevalence of cardiovascular diseases including coronary artery diseases, heart failures, and hypertension and increase in number of cases of aortic disorders in geriatric population. The aging global population especially in the U.S., Europe and Japan and other developed countries is expected to rise from 760 million i.e. 11% in 2011 to 2 billion i.e. 22% by 2050. Aging populace surges the demand for minimally invasive surgeries pertaining to the risk of complications in surgery. Additionally, Aortic valvular disease accounts for most common causes leading to operative procedure or transcatheter valve replacement in the European region. Thus, due to these factors, transcatheter heart valve replacement market would witness tremendous growth in coming years.

Favorable reimbursement scenario pertaining to Medicaid plans, Medicare and insurance claims sponsored by the regulatory authorities for the patients further increase the affordability of these transplant surgeries and thus, fueling the treatment rate for valvular diseases. Further, reduction in recovery time post-surgery, positive outcomes with valve implantation and minimal invasiveness of these replacement surgeries are contributing to this market growth.

On the contrary, high investments related to transcatheter heart valves, device related problems such as product recalls, malfunctioning during implantation, insufficient healthcare infrastructures in emerging economies and stringent regulations implemented to get the approval are the restrains that potentially would impede growth of the market.

Increase in prevalence of cardiac diseases to propel the market growth

Cardiovascular diseases hold the first place in cause for death globally than any other disease according to World Health Organization (WHO). In 2016, cardiac diseases caused fatality in an estimated 17.9 million people, highlighting 31% of all global deaths with majority deaths were accounted in developing economies with low- and middle- income category. This can be an opportunity for the transcatheter heart valve replacement market to expand into developing economies.

Cardiac diseases are increasing with rising population and changing lifestyle. According to the Centers for Disease Control, the number of deaths due to cardiac diseases in United States is more than 606,000 on yearly basis. Four out of five CVD deaths are due to heart attacks and strokes. According to the World Journal of Cardiovascular Diseases, more than 7 million deaths are due to the sudden cardiac arrest worldwide every year. Thus, the growing cases of heart failures, heart attacks, strokes, and other heart-related conditions are facilitating the transcatheter heart valve replacement market growth.

Technological advancements to drive the market

Technological advances and innovative product launches in cardiovascular industry have resulted better treatment and increased accessibility to TAVR devices. Tissue valves are being increasingly popular as compared to mechanical prosthetic values pertaining to better biocompatibility and high durability.

In March 2017, FDA gave approval to CoreValve Evolut Pro, launched by Medtronic, a leader in transcatheter aortic valve replacement (TAVR) device. This device had latest upgrades and promised efficiency in surgical procedures of aortic stenosis for treatment of patients, especially the ones that are at high risk for open heart surgeries.

Similarly, Meril Life Sciences in December 2018 introduced Myval, a transcatheter aortic valve (TAVR), and achieved the feat of being the first Indian company to manufacture a transcatheter heart valve and market it commercially on a global scale.

Such technological advances would boost the growth for transcatheter heart valve replacement market in the near future.

Key benefits of the report:

  • This study presents the analytical depiction of the global transcatheter heart valve replacement industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global transcatheter heart valve replacement market share.
  • The current market is quantitatively analyzed to highlight the global transcatheter heart valve replacement market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global transcatheter heart valve replacement market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Transcatheter heart valve replacement Market research report:

  • What are the leading market players active in the transcatheter heart valve replacement market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?

Transcatheter Heart Valve Replacement Market Report Highlights

Aspects Details
Transcatheter Heart Valve Replacement Market By Product
By Product
  • Transcatheter Aortic Valve Replacement (TAVR)
  • Transcatheter Mitral Valve Replacement (TMVR)
Transcatheter Heart Valve Replacement Market By Application
By Application
  • Aortic Valvular Heart Disease
  • Mitral Valvular Heart Disease
Transcatheter Heart Valve Replacement Market By Surgical Approach
By Surgical Approach
  • Transfemoral Approach
  • Transapical Approach
  • Transaortic Approach
Transcatheter Heart Valve Replacement Market By End User
By End User
  • Hospitals
  • Ambulatory Surgical Centers
  • Specialized Cardiac Centers
  • Others
Transcatheter Heart Valve Replacement Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
Key Market Players
Key Market Players

Boston Scientific, Edwards Lifesciences, JC Medical, C Medical Technologies, Micro Interventional Device., LivaNova, Medtronic plc, Abbott Laboratories, HighLife Medical, Meril Life Sciences

Key Market Players
Other Players

B. Braun

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Transcatheter Heart Valve Replacement Market

Global Opportunity Analysis and Industry Forecast, 2023-2032