Transcatheter Aortic Valve Replacement/Implantation (TAVR/TAVI) Market Size, Share & Trends Report

Transcatheter Aortic Valve Replacement/Implantation (TAVR/TAVI) Market Size, Share & Trends Analysis Report By Procedure (Transapical, Transfemoral, Transaortic), By Country, Vendor Landscape, And Segment Forecasts, 2018 - 2025

  • Published Date: Jun, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-511-3
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 90

Industry Outlook

The global Transcatheter Aortic Valve Replacement (TAVR) devices market size was valued at USD 2.4 billion in 2017 and global Transcatheter Aortic Valve Implantation (TAVI) procedures market size was valued at USD 6.2 billion in 2017. It is anticipated to rise at a CAGR of 22.6% over the forecast period. Rising number of patients across the globe suffering from cardiovascular diseases such as heart failures, coronary artery diseases, and hypertension is one of the key trends stoking market growth. Cardiovascular diseases lead to improper functioning of aortic valves, which in turn escalates the demand for efficient valve replacement procedure.

Transcatheter Aortic Valve Replacement (TAVR) procedures market

In addition, increasing funding for research & development activities, new product launches, and presence of favorable reimbursement policies are some of the factors likely to provide a fillip to the market. Growing adoption of minimally invasive surgery (MIS), along with technological advancements in transcatheter aortic valve replacement procedure, is projected to reduce the overall hospital stay. This, in turn, is poised to reduce healthcare expenditure.

Furthermore, geographic expansion, funding, and adoption of advanced devices & procedural methods are estimated to boost the growth of the market during the forecast period. According to Annals of Cardiothoracic Surgery, Transcatheter Aortic Valve Implantation (TAVI) devices are considered to be cost-effective in treating high risk patients. In European and American countries, TAVI devices are government funded.

Japan is an exception among Asian countries, where Japanese government covers the treatment cost. In rest of the Asian countries, patients pay treatment costs out of pocket. There are also efforts being taken to develop and maintain TAVR registry in the Asia Pacific region. The Japan Transcatheter Aortic Valve Replacement (TAVR) registry has the data of over 8,000 TAVR procedures conducted in Japan since 2013.

Procedure Insights

Based on procedure, the TAVR/TAVI market is segmented into transapical implantation, transfemoral implantation, and transaortic implantation. Transfemoral implantation was the leading segment in 2017 due to improved technology such as vascular closure system. This implantation is minimally invasive, facilitating faster recovery, and reducing overall length of hospital stay.

Various collaborations, mergers & acquisitions, and increased funding for research & development to reduce complication and enhance effective treatment are expected to drive the market. For instance, in March 2017, Boston Scientific Corporation acquired Symetis SA for USD 435 million to develop products such as ACURATE neo/TF and ACURATE TA valve systems. These devices are anticipated to enhance the treatment of patients suffering from symptomatic aortic valve stenosis globally. This acquisition will help the company strengthen its manufacturing capabilities as well as research and development.

Transapical implantation is likely to register the highest CAGR during the forecast period owing to increasing number of patients preferring efficient therapy with quick recovery. In February 2012, Braile Biomedica launched transapical aortic valve in Brazil. This launch is projected to widen company’s product portfolio and expand their reach in the Latin America region.

Country Insights

The U.S. dominated the market in 2017, accounting for more than 40.0% of the transcatheter aortic valve implantation market. This can be attributed to high adoption of technologically advanced products, mergers & acquisitions, and favorable reimbursement policies. For instance, reimbursement from government organizations such as Centers for Medicare & Medicaid Services (CMS) help patients to opt for transcatheter aortic valve replacement procedure. The primary payer for almost 90% of the TAVR procedures was Medicare in the year 2017. This strengthened the economic advantage of opting TAVR instead of surgical aortic valve replacement (SAVR).

Transcatheter Aortic Valve Implantation (TAVI) procedure market

Italy is poised to post the fastest growth during the forecast period. Increasing healthcare expenditure owing to rising prevalence of cardiovascular diseases and surging use of improved implant devices imposing less risk to patients are leading to a shift towards transcatheter aortic valve replacement procedures.

Germany and France are significant markets in European. According to the National Center for Biotechnology Information (NCBI), in 2015, 31,000 aortic valve procedures were performed in Germany due to advancements in aortic valve replacement procedure, making it the most preferred destination for valve replacement implantation.

Transcatheter Aortic Valve Replacement/ Implantation Market Share Insights

Key participants in the market are Medtronic plc; Boston Scientific Corp; Edwards Lifesciences Corporation; and St. Jude Medical, Inc. In August 2017, Edwards Lifesciences Corporation focused on R&D to launch Edwards Sapien 3 Ultra System and Centera. These include Axela sheath technology and on-balloon delivery design that make the procedure faster and reduce the possibility of any error. This would enable the company to be more competitive with other players such as Medtronic, Boston Scientific Corporation, and Abbott.

In July 2017, Medtronic plc launched CoreValve Evolut PRO valve system in Europe for the treatment of aortic stenosis. The system will offer innovative medical technology for surgical treatment of cardiovascular disease, which estimated to bolster company’s growth in the field of cardiac surgeries.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation                        

Revenue in USD Million and CAGR from 2017 to 2025

Country scope

U.S., France, Germany, Italy, Japan, U.K.

Report coverage  

Revenue forecast, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5-analyst working days)

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Segments Covered in the Report

This report forecasts revenue growth at global and country levels, and provides an analysis on industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global transcatheter aortic valve replacement (TAVR) market report on the basis of procedure, device, and region:

  • Implantation Procedure Outlook (Revenue, USD Million, 2014 - 2025)

    • Transfemoral

    • Transapical

    • Transaortic

  • Device Outlook (Revenue, USD Million, 2014 - 2025)

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • U.S.

    • France

    • Germany

    • Italy

    • Japan

    • U.K.

    • Rest of the world

Key questions answered by the report
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