The global transcatheter heart valve replacement (THVR) market is poised for exponential growth, with its valuation reaching USD 5.7 billion in 2022. According to a recent analysis by Future Market Insights (FMI), the market is set to grow at a robust CAGR of 14.8% over the forecast period. The rising demand for minimally invasive heart procedures, coupled with advancements in valve replacement technology, is driving the sustained expansion of the market.
Leading the charge in the THVR market are balloon-expandable transcatheter aortic valves, which accounted for a dominant 52.5% market share in 2022. The preference for balloon-expandable valves is driven by their ease of deployment, shorter recovery time, and higher procedural success rates. These valves have become the gold standard in treating patients with severe aortic stenosis who are ineligible for open-heart surgery, further solidifying their leadership in the market.
The growing aging population and the rising prevalence of cardiovascular diseases (CVDs) worldwide have heightened the need for non-surgical treatment options. Transcatheter heart valve replacement offers a less invasive alternative, reducing patient risk and improving outcomes. This trend is spurring healthcare providers and key market players to adopt next-generation heart valve technologies, fostering greater innovation and market growth.
A Full Report Overview – https://www.futuremarketinsights.com/reports/transcatheter-heart-valve-replacement-tavi-market
Key Takeaways:
- The global THVR market was valued at USD 5.7 billion in 2022 and is projected to grow at a 14.8% CAGR through the forecast period.
- Balloon-expandable transcatheter aortic valves captured a 52.5% market share in 2022, leading the market.
- Rising demand for minimally invasive cardiac procedures and the growing burden of cardiovascular diseases are driving market expansion.
- Advancements in non-surgical heart valve technology are expected to fuel further innovation and market growth in the coming years.
This surge in market demand reflects the growing importance of minimally invasive heart procedures in improving patient outcomes and reducing healthcare costs. As key industry players continue to develop next-generation heart valve solutions, the market is set to achieve unprecedented growth and innovation.
Key Market Trends
- Dominance of Balloon-Expandable Valves: In 2022, balloon-expandable transcatheter aortic valves held a substantial market share of about 52.5%, indicating their preference among healthcare providers for their ease of use and effectiveness.
- Increasing Prevalence of Aortic Stenosis: The rising incidence of aortic stenosis and other valvular heart diseases is driving demand for transcatheter procedures, as patients seek less invasive options compared to traditional surgical methods.
- Technological Advancements: Continuous innovations in valve design and delivery systems are enhancing the safety and efficacy of transcatheter heart valve replacements, further boosting market growth.
- Growing Geriatric Population: An aging population that is more susceptible to cardiovascular diseases is expected to contribute significantly to market expansion, as older adults often require interventions for valvular heart disease.
- Increased Awareness and Acceptance: There is a growing awareness among patients and healthcare professionals regarding the benefits of transcatheter procedures, leading to higher acceptance rates.
Regional Insights
- North America: Expected to dominate the market due to advanced healthcare infrastructure, high prevalence of cardiovascular diseases, and significant investment in research and development.
- Europe: Also anticipated to hold a major share, driven by favorable reimbursement policies and increasing adoption of minimally invasive procedures.
- Asia-Pacific: Expected to witness rapid growth due to improving healthcare facilities, increasing patient populations, and rising awareness about advanced treatment options.
Competitive Landscape
Increasing products in the pipeline and approval by the regulatory bodies, expansion in other regions, and marketing approvals in different regions, are key differentiating strategies that TAVR manufacturers are adopting. The market’s dynamics have changed due to increased awareness.
Instances of important developmental strategies used among market participants in the transcatheter heart valve replacement market are presented below:
- The VitaFlow LibertyTM, Microport’s first motorised retrievable transcatheter aortic valve (TAVI) system, obtained authorization for commercialization in China in September 2021.
- In August 2021, JenaValve received FDA approval for ALIGN-AR pivotal trial with a trilogy valve for aortic regurgitation treatment.
- In September 2020, Boston Scientific introduced the ACURATE neo2 aortic valve system in Europe, which improves clinical performance and has a broader indication for patients with aortic stenosis.
Similarly, recent developments related to companies manufacturing transcatheter heart valve replacement products have been tracked by the team at Future Market Insights. These are available in the full report.
Key Companies Profiled
Abbott; Edwards Lifesciences Corporation; Medtronic; 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 Segments Covered in the Transcatheter Heart Valve Replacement Industry Research
Product:
- Self-Expandable Transcatheter Aortic Valves
- Balloon-Expandable Transcatheter Aortic Valves
- Mechanically Expanded Transcatheter Aortic Valves
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
- The Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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