GVR Report cover Transcatheter Aortic Valve Replacement Market Size, Share & Trends Report

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

  • Report ID: GVR-2-68038-511-3
  • Number of Pages: 90
  • Format: Electronic (PDF)
  • Historical Range: 2014 - 2016
  • Industry: Healthcare

Report Overview

The global transcatheter aortic valve replacement market size to be valued at USD 12.2 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 22.6% during the forecast period. It is anticipated to rise at a CAGR of 22.6% over the forecast period. The rising number of patients across the globe suffering from cardiovascular diseases such as heart failure, 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 procedures.

Transcatheter Aortic Valve Replacement Market size

Also, increasing funding for research & development activities, new product launches, and the presence of favorable reimbursement policies are some of the factors likely to provide a fillip to the market. The 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 the 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 the Japanese government covers the treatment cost. In the rest of the Asian countries, patients pay treatment costs out of pocket. There are also efforts being taken to develop and maintain the 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.

Transcatheter Aortic Valve Replacement Market Trends

One of the key factors driving the growth of transcatheter aortic valve replacement market is the rise in number of patients suffering from cardiovascular diseases (CVDs). CVDs cause aortic valves to malfunction thus increasing the demand for an effective valve replacement procedure. Transcatheter aortic valve implantation is becoming more common as the prevalence of aortic stenosis rises.

The rise in technological advancements and rising demand for minimally invasive catheter-based procedures as compared to regular open heart therapies and patients seeking an efficient and effective therapy with quick recovery, are propelling the market growth. The geriatric population is more likely to undergo this procedure as the open-heart surgery is too risky for them, and they cannot undergo Surgical Aortic Valve Replacement (SAVR) as it is too risky for most patients.

The high cost of transcatheter heart valve devices in developing and underdeveloped countries has resulted in inadequate heart valve installation in healthcare facilities. The lack of skilled professionals in certain developing countries, and the lack of awareness about the latest technological innovations among individuals is expected to limit the market growth.

The market expansion for transcatheter aortic valves is particularly noticeable in western countries. However, as a result of its overall treatment of aortic valve disease, there is an increase in the number of countries with a high rate of adoption. It provides a significant boost to market growth and encourages it to expand in a desirable manner. Moreover, incorporating various adjustments like equipment or medication into the same might improve the medical approach's effectiveness and raise patient demand.

Following Covid-19, there was a more than 50% decrease in the number of CVDs patients detected with myocardial infection, affecting TAVR demand. Patients who were previously approved for SAVR are now being reassessed for TAVR, which has some benefits such as a lesser hospital stay and a lower need for an active treatment unit or mechanical ventilation, influencing market growth positively.

Procedure Insights

Based on the procedure, the TAVR 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 the overall length of hospital stay.

Various collaborations, mergers & acquisitions, and increased funding for research & development to reduce complications 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 ACCURATE neo/TF and ACCURATE 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 the increasing number of patients preferring efficient therapy with quick recovery. In February 2012, Braile Biomedica launched a transapical aortic valve in Brazil. This launch is projected to widen the company’s product portfolio and expand its 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 the 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) helps 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 for TAVR instead of surgical aortic valve replacement (SAVR).

Transcatheter Aortic Valve Replacement Market share, by country

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

Germany and France are significant markets in Europe. 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.

Key Companies & 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 Center. 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 the CoreValve Evolut PRO valve system in Europe for the treatment of aortic stenosis. The system will offer innovative medical technology for the surgical treatment of cardiovascular disease, which estimated to bolster the company’s growth in the field of cardiac surgeries.

Recent Developments

  • In May 2022, Medtronic acquired Intersect ENT therein expanding the company's portfolio with novel products used in sinus procedures to improve postoperative outcomes and treat nasal polyps.The product lines and customer base of Intersect ENT will help Medtronic's efforts to help patients suffering from chronic rhino sinusitis (CRS).

  • In February 2022,Boston Scientific Corporation acquired Baylis Medical Company Inc., a provider of advanced trans septal access solutions as well as dilators, sheaths, and guidewires for catheter-based left-heart procedures.With this, Boston Scientific can  integrate the Baylis platforms with its existing electrophysiology and structural heart offerings further strengthening its position in the fastest-growing cardiology markets.

Transcatheter Aortic Valve Replacement Market Report Scope

Report Attribute

Details

Revenue forecast in 2025

USD 12.2 billion

Growth rate

CAGR of 22.6% from 2018 to 2025

Base year for estimation

2017

Historical data

2014 - 2016

Forecast period

2018 - 2025

Quantitative units

Revenue in USD billion and CAGR from 2018 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Device, procedure, region

Country scope

U.S.; France; Germany; U.K.; Italy; Japan; Rest of the world

Key companies profiled

Medtronic plc; Boston Scientific Corporation; Meril Life Sciences Pvt. Ltd., Inc.; Edwards Lifesciences Corporation; St. Jude Medical, Inc.; JenaValve Technology, Inc.; Bracco SpA; Transcatheter Technologies GmbH

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country; regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Transcatheter Aortic Valve Replacement Market Segmentation

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

Global Transcatheter Aortic Valve Replacement Market Segmentation

  • 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)

    • The U.S.

    • France

    • Germany

    • Italy

    • Japan

    • U.K.

    • Rest of the world

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