Transcatheter Heart Valve Replacement Repair Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global revenue from the Transcatheter Heart Valve Replacement Repair Market is projected to be approximately USD 8.55 billion in 2024, with the market expected to grow at a CAGR of 13.0% to reach around USD 20.13 billion by 2031.

Rising Prevalence of Cardiovascular Diseases Boosting Demand

The increasing prevalence of various cardiovascular diseases, particularly valvular heart diseases like aortic stenosis, is one of the main drivers for the heightened demand for TAVI procedures globally. According to the American College of Cardiology in 2021, over 5 million U.S. citizens are diagnosed with valvular heart diseases annually, including 1.5 million individuals suffering from aortic stenosis. Of these, approximately 500,000 cases are severe, representing about 33% of all aortic stenosis cases. The primary treatment for severe aortic stenosis is valve replacement surgery, which significantly boosts the TAVR market.

Benefits of Minimally Invasive Procedures Fueling Market Growth

Minimally invasive procedures, including TAVI (transcatheter aortic valve implantation), offer numerous benefits such as less blood loss, reduced trauma and pain, lower risk of infection, faster recovery rates, shorter hospital stays, and less noticeable scars. These advantages drive the demand for TAVI procedures, positively impacting the TAVR market. TAVI involves the implantation of a new valve inside the patient’s heart to replace the old or damaged one, which is increasingly preferred due to its minimally invasive nature.

Increasing FDA Approvals Enhancing Market Prospects

Over the past decade, multiple FDA approvals for TAVI procedures have paved the way for market growth. Notably, Medtronic received FDA approval for its Evolut FX TAVR system in August 2021, and Abbott's FlexNav TAVI system was approved in September 2021 for treating patients with severe, symptomatic aortic stenosis. These approvals enhance the availability and accessibility of efficient treatment options, leading to improved patient compliance and greater market adoption.

Technological Advancements and Rising Prevalence of Cardiovascular Diseases

Continuous technological advancements in TAVR products, coupled with the increasing prevalence of cardiovascular diseases, are driving the global market. Companies are developing second-generation TAVR devices with better durability to avoid immune rejections in patients with severe aortic stenosis. Recent studies have highlighted the safety benefits of second-generation TAVR devices, which are associated with lower rates of paravalvular regurgitation, valve embolization, and other bleeding events.

Advanced imaging technologies are also becoming more popular for decision-making in TAVR procedures. These technological advancements create lucrative opportunities for market growth. The rising prevalence of cardiovascular diseases, including coronary artery disease, heart failure, and hypertension, further drives the demand for efficient valve replacement procedures.

According to the WHO, cardiovascular diseases (CVDs) are the leading cause of death worldwide, with an estimated 17.9 million deaths per year. Heart attacks and strokes account for over four out of every five CVD deaths, necessitating more valve replacement surgeries such as TAVR, which fuels market expansion.

Challenges: High Costs and Procedure-Related Complications

The high cost of transcatheter aortic valves is a significant barrier to market growth. The average cost of a transcatheter aortic valve is around US$ 64,395, making it less accessible for many patients. Additionally, potential complications associated with TAVR procedures, such as blood vessel complications, stroke, heart rhythm problems, heart attacks, infections, serious bleeding, and issues with valve positioning, can impede market growth.

Regional Insights

United States: Leading Market with High Prevalence of Cardiovascular Diseases

In 2022, the United States accounted for approximately 48.7% of the global TAVR market. The high prevalence of cardiovascular diseases, robust healthcare infrastructure, and increasing awareness about TAVR procedures are significant factors driving market growth in the U.S. According to the CDC, cardiovascular disease is the leading cause of death in the U.S., with one death every 34 seconds and over 697,000 deaths in 2020.

Germany: Prominent Market with Favorable Reimbursement Policies

In 2022, Germany held around 12.9% of the global TAVR market. The presence of well-established players, favorable reimbursement policies, and a large patient pool, particularly among the geriatric population, are key factors propelling market growth in Germany. According to the journal of Secondary Prevention of Heart Attack and Strokes, Germany has over 1.3 million stroke survivors and more than 3.6 million people with coronary heart disease (CHD), highlighting the significant patient pool driving market growth.

China: Emerging Market with Increasing Obesity Rates

In 2022, China held a market share of about 4.6%. The rising obesity rates in China have led to an increase in cardiovascular disease cases, creating high demand for TAVR surgeries. Obesity influences the prevalence of cardiovascular risk factors such as dyslipidemia, type 2 diabetes, and hypertension, increasing the risk of cardiovascular disease development and mortality. Data from the Global Health Journal in 2022 indicates that over 50% of adults and 20% of children and adolescents in China are overweight or obese, highlighting the growing public health issue driving market growth.

Category Insights

Product Segment: Dominance of Balloon-Expandable TAVR Procedures

In 2022, the transcatheter aortic valve replacement (TAVR) segment held around 83.3% of the total market. Balloon-expandable TAVR procedures have become a life-saving and efficient alternative to surgical valve replacement for high-risk, elderly patients with severe calcific aortic stenosis. The growing elderly population and the increasing number of patients with aortic stenosis drive the adoption of TAVR procedures, contributing to the segment's growth.

Indication Segment: Prevalence of Severe Aortic Stenosis

In 2022, the severe aortic valve stenosis segment held around 76.7% of the total market. Aortic stenosis is the second most prevalent valve lesion in the United States, affecting roughly 5% of the global population at 65 years old. The prevalence increases with age, driving the demand for TAVR procedures.

End User: Hospitals Leading the Market

In 2022, the hospital segment held around 53.6% of the total market. The expanding patient population and increasing demand for quick recovery times and short hospital stays drive the market for this segment.

Key Market Players:

• Abbott
• Edwards Lifesciences Corporation
• Medtronic plc
• 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.

Key Market Segmentation

Product:

• Transcatheter Aortic Valve Replacement (TAVR)
• Self - Expandable Transcatheter Aortic Valves
• Balloon-Expandable Transcatheter Aortic Valves
• Mechanically Expanded Transcatheter Aortic Valves
• Transcatheter Mitral Valve Repair (TMVR)

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
• Middle East & Africa

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