The transcatheter aortic valve replacement market is primarily driven by the growing prevalence of aortic stenosis globally. Transcatheter aortic valve replacement (TAVR), also known as transcatheter aortic valve implantation (TAVI), is a minimally invasive surgical procedure to replace the aortic valve. TAVR helps avoid open-heart surgery for patients with severe aortic stenosis who are at high risk for open-heart valve replacement surgery. The procedure is performed through small incisions in the groin, chest, or an artery in the wrist, with the help of catheter-based heart valves delivery and balloon expandable or self-expanding valve technologies.
The global transcatheter aortic valve replacement market is estimated to be valued at USD 6.71 Bn in 2024 and is expected to reach USD 10.80 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7% from 2024 to 2031.
Key Takeaways Key players operating in the transcatheter aortic valve replacement market are Edwards Lifesciences Corp., Medtronic Plc., Abbott Laboratories., Boston Scientific Corp., MicroPort Scientific Corp., JenaValve Technology GmbH., Cardiovascular Systems, Inc., Symetis SA., Lepu Medical Technology Co., Ltd., Terumo Corporation., St. Jude Medical (now part of Abbott)., AtriCure, Inc., Vascular Solutions, Inc., Biotronik SE & Co. KG., and Cook Medical. Edwards Lifesciences Corp. is the market leader with over 60% market share. The Transcatheter Aortic Valve Replacement Market Growth is expected to witness significant due to rising awareness regarding benefits of minimally invasive procedures and increasing patient pool of aortic stenosis. According to estimates, over 93,000 TAVR procedures were performed in Europe and North America in 2018. Geographic expansion into emerging markets of Asia Pacific and Latin America is further expected to drive the overall market growth. Countries like China, India, Brazil and Mexico are projected to be high growth markets for TAVR procedures during the forecast period. Market Key Trends The transcatheter aortic valve replacement market is currently trending towards improvements in valve design and delivery systems. Newer generation valves are being designed with smaller delivery profiles while offering better hemodynamic outcomes. For instance, valves with bovine pericardial leaflets or valve-in-valve replacements provide better durability and feasibility. Additionally, the development of self-expanding transcatheter heart valves is another key trend. Their unique property of self-expanding helps minimize paravalvular leaks as compared to balloon expandable valves. Advancements in delivery catheter technologies are also contributing towards simplifying the procedure and enabling TAVR for complex anatomies. Overall, continuous innovations in valve designs and delivery systems will expand the indications for TAVR procedures in the coming years.
Porter’s Analysis Threat of new entrants: High costs associated with R&D, manufacturing, clinical trials, and regulatory requirements pose significant barriers for new companies. Bargaining power of buyers: Patients have limited choice options due to availability of few manufacturers and specialized nature of procedures. Bargaining power of suppliers: Proprietary technologies and differentiation in product design provide suppliers with some bargaining power over pricing and contracts. Threat of new substitutes: No major substitute technologies expected to emerge in the forecast period due to extensive clinical evidence required for cardiac valve replacement procedures. Competitive rivalry: Large companies dominate the market and spend extensively on developing novel technologies and products, enhancing clinical evidence, and expanding geographical presence worldwide to strengthen market position. Geographical Regions North America currently holds the largest share of the Transcatheter Aortic Valve Replacement Market Regional Analysis in terms of value primarily due to technological advancements, favorable reimbursement scenario, and increasing geriatric population. It is estimated over 40% of transcatheter heart valve replacements are currently performed in the U.S. Asia Pacific is expected to experience the fastest growth over the forecast period owing to rising healthcare expenditure, growing medical tourism industry, and increasing awareness about treatment alternatives for age-related cardiac disorders in countries like China, India and Japan.
About Author:
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)
"Trending News:Transcatheter Aortic Valve Replacement Tavr Market Report is Booming Globally by Top Leading Players"The global transcatheter aortic valve replacement (TAVR) market is anticipated to reach USD 8,241.4 Million by 2025 according to a new study published by Polaris Market Research.
Transcatheter aortic valve replacement (TAVR), known as transcatheter aortic valve implantation (TAVI) the surgical procedure for heart disease wherein transcatheter heart valve is used to replace the damaged as well as old heart valve.
Transcatheter heart valve implantation is a minimally invasive process that helps in substituting the damaged heart valve with a prosthetic valve for treatment of mitral regurgitation and unembellished aortic stenosis.
GET SAMPLE PDF:-https://www.polarismarketresearch.com/industry-analysis/transcatheter-aortic-valve-replacement-tavr-market/request-for-sampleThe global Transcatheter Aortic Valve Replacement (TAVR) Market is driven by factors such as growing number of the patient pool with cardiovascular ailments such as coronary artery diseases, heart failures, and hypertension.
According to World Health Organization (WHO), the number of people suffering cardiovascular disorders will surge to 22.2 million by 2030 globally.
Moreover, increase in occurrence of aortic stenosis disorders coupled with rise in elderly population, evolution in implementation rate of transcatheter aortic valve implantation procedure owing to high demand for minimally invasive procedures, an increase in medical and clinical indication of safety & efficacy and new products approvals are other factors propelling the global Transcatheter Aortic Valve Replacement (TAVR) Market growth.
