Transcatheter Aortic Valve Implantation Market

Market Definition

The global Transcatheter Aortic Valve Implantation Market size was valued at USD 5.58 billion in 2022 and is predicted to reach USD 14.48 billion by 2030 with a CAGR of 12.7% from 2023-2030. Transcatheter aortic valve implantation (TAVI) is a non-surgical minimally invasive heart procedure that replaces aortic valves that are not functioning properly. TAVI provides more efficient valve replacement process for high-risk patients than open-heart surgery. Transcatheter heart valve implantation treatments are performed using cardiovascular devices that replace worn or damaged heart valves. TAVI is widely used to treat several aortic valve diseases such as severe stenosis, degeneration and regurgitation.

Market Dynamics and Trends

Increasing demand of aortic valve replacement treatments across the world owing to the growing number of patients suffering from cardiovascular disorders such as heart failure, coronary artery disease and hypertension as it leads aortic valve malfunction is driving the TAVI market. For instance, in 2022, according to World health organization (WHO), around 17 million people died from cardiovascular diseases (CVDs) across the world.

Also, increasing adaption of minimally invasive surgeries (MIS) as it causes less pain and significantly reduce pre & post hospitalization expense is further driving the global market. Traditionally, aortic valve replacement surgery required open-heart surgery, which was associated with several disadvantages such as longer hospital stays and higher costs. TAVI is a minimally invasive procedure that allows for the replacement of the aortic valve without the need for open-heart surgery. This has resulted in a shorter hospital stays, less pain, and similar outcomes to traditional surgery in turn driving the growth of the market.

However, risks associated with transcatheter aortic valve implantation procedures such as valve thrombosis, valve obstruction, late bleeding restrains the market growth. Also, high costs of transcatheter aortic valves and lack of skilled professionals in developing countries who can perform TAVI are the factors further restraining the transcatheter aortic valve implantation market growth.

On the contrary, introduction of advance transcatheter heart valves such as SAPIEN 3, Evolut R, LOTUS and ACURATE neo as they provide extended skirt and more conformable frame, high radial strength for circularity and access to coronary vessels is expected to create ample growth opportunities for the transcatheter aortic valve implantation (TAVI) market in the coming years.

Market Segmentations and Scope of the Study

Transcatheter aortic valve implantation market report is segmented on the basis of procedure, valve frame material, valve leaflets material, valve size, end user and geography. On the basis of procedure, the market is divided into transfemoral implantation, transapical implantation and transaortic implantation. On the basis of valve frame material, the market is classified into nitinol, stainless steel and cobalt-chromium.

On the basis of valve leaflets material, the market is categorized into bovine heart tissue, cow heart tissue and other valve leaflets material. On the basis of valve size, the market is divided into 14mm to 18 mm, 18mm to 22 mm and 22mm to 29mm. On the basis of end user, the market is classified into hospitals, ambulatory surgery centers and cardiac catheterization laboratories. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America holds the dominant share of transcatheter aortic valve implantation market and is expected to continue its dominance during the forecast period. This is attributed to factors such as well-established health care infrastructure in the region along with high health care expenditure by government that increases the adaption of advanced equipment’s required for   transcatheter aortic valve implantation by public health care providers in the region. For instance, in 2021, U.S. had spent USD 4.2 trillion in health sector, which was the highest amount in healthcare spending among the developed countries accross the world.

Moreover, several initiatives taken by governments in this region increases the adaption of TAVI procedures, which further boosts the market growth. For instance, in June 2019, government of United States introduced National Coverage Determination (NCD) policy for transcatheter aortic valve implantation under which, US federal agency Centers for Medicare and Medicaid Services (CMS) will provide medical coverage for citizen’s undergrowing TAVI procedures in the country.

On the other hand, Asia pacific is expected to show a steady rise in the transcatheter aortic valve implantation market due to the presence of very high number of geriatric populations in the region as they are more prone to cardiovascular diseases. According to a report published by US National Library of Medicine in 2022, it is estimated that about 330 million patients suffer from cardiovascular disease (CVD) in China.

Also, rapidly increasing medical tourism in several countries in Asia pacific such as India, Malaysia and South Korea that provides quality healthcare services in a reasonable cost is further driving the growth of the global market in the region. According to the Indian Ministry of Health and Family Welfare, the number of foreign tourists’ arrival on medical purpose in India increased from 183 thousand in 2020 to 304 thousand in 2021.

Competitive Landscape

Transcatheter aortic valve implantation industry comprising of various market players such as Edwards Lifesciences Corporation, Medtronic, Inc., Boston Scientific Corporation, Abbott Laboratories, JenaValve Technology, Inc., Bracco, Direct Flow Medical, Inc., Sorin Group, Meril Life Sciences India Pvt Ltd, and Braile Biomedica.

These market players are adopting various strategies such as acquisitions and product approvals across various regions to maintain their dominance in the transcatheter aortic valve implantation market. For instance, in January 2023, Abbott Laboratories got their approval from U.S. Food and Drug Administration (FDA) for the use of their latest-generation transcatheter aortic valve implantation (TAVI) system called Navitor. It includes a unique design to prevent blood leaking around the valve that will be used to treat patients in U.S. with severe aortic stenosis who are at high surgical risk.

Moreover, in December 2020, Edwards Lifesciences announced that Health Canada has approved the use of the Edwards SAPIEN 3 and SAPIEN 3 Ultra transcatheter heart valves to treat patients with severe symptomatic aortic stenosis who are at low risk for open-heart surgery. This makes the SAPIEN 3 valves the first TAVI systems to have this indication in Canada and it will help the company to expand its market in the country.

Furthermore, in March 2019, Edwards Lifesciences acquired Corvia Medical, developer of the world's first transcatheter device designed to treat heart failure with preserved or mid-range ejection fraction (EF). It is regulated by the European union and studied as a part of a food and drug administration clinical trials. This accusation will enable Edward Lifesciences to increase market share and improve R&D capabilities.

Key Benefits

• The report provides quantitative analysis and estimations of the transcatheter aortic valve implantation market from 2023 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep-dive analysis of the transcatheter aortic valve implantation market including the current and future trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the transcatheter aortic valve implantation market is provided in the report.

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Transcatheter Aortic Valve Implantation Market Key Segments

By Procedure

• Transfemoral Implantation

• Transapical Implantation

• Transaortic Implantation

By Valve Frame Material

• Nitinol

• Stainless Steel

• Cobalt-Chromium

By Valve Leaflets Material

• Bovine Heart Tissue

• Cow Heart Tissue

• Other Valve Leaflets Material

By Valve Size

• 14 mm to 18 mm

• 18 mm to 22 mm

• 22 mm to 29 mm

By End User

• Hospitals

• Ambulatory Surgery Centers

• Cardiac Catheterization Laboratories

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Netherlands

  • Finland

  • Sweden

  • Norway

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

 

KEY PLAYERS

• Edwards Lifesciences Corporation

• Medtronic Inc.

• Boston Scientific Corporation

• Abbott Laboratories

• JenaValve Technology Inc.

• Bracco

• Direct Flow Medical Inc.

• Sorin Group

• Meril Life Sciences India Pvt Ltd

• Braile Biomedica

Report Scope and Segmentation

Parameters	Details
Market Size in 2022	USD 5.58 Billion
Revenue Forecast in 2030	USD 14.48 Billion
Growth Rate	CAGR of 12.7% from 2023 to 2030
Analysis Period	2022–2030
Base Year Considered	2022
Forecast Period	2023–2030
Market Size Estimation	Billion (USD)
Growth Factors	Growing number of patients suffering from cardiovascular disorders is fuelling the adoption of transcatheter aortic valves. Increasing adaption of minimally invasive surgeries (MIS) drives the market growth.
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.