Enjoy complimentary customisation on priority with our Enterprise License!
The Transcatheter Aortic Valve Replacement (TAVR) Market size is estimated to grow by USD 2,347.39 million at a CAGR of 7.01% between 2022 and 2027.
There is an increase in demand for minimally invasive procedures which is significantly contributing to the global transcatheter aortic valve replacement market. TAVR is essentially performed through small incisions, often in the groin or chest, or even using percutaneous access unlike traditional SAVR, which requires a large chest incision and sternotomy. In addition, there are numerous advantages to a minimally invasive approach. One of the main advantages is the reduction of the physical trauma associated with open-heart surgery, resulting in shorter hospital stays and quicker recovery times. Hence, such advantages will fuel the adoption of this procedure which is positively impacting the market growth.
Technavio has segmented the market into End-user, Type, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
To learn more about this report, Request Free Sample
The hospital segment is estimated to witness significant growth during the forecast period. The hospital segment is the primary end-user of minimally invasive cardiac procedures and thus it significantly contributes to the global transcatheter aortic valve replacement market. This segment comprises several healthcare facilities ranging from large academic medical centers to community hospitals providing specialized infrastructure and a highly skilled medical workforce to perform TAVR safely and effectively.
Get a glance at the market contribution of various segments View a PDF Sample
The hospital segment was the largest segment and was valued at USD 3,902.69 million in 2017. The main advantage of the hospital segment in terms of TAVR is its comprehensive cardiac care services as this segment is equipped with state-of-the-art cardiac catheterization labs and operating rooms specifically designed for interventional cardiology procedures. In addition, this segment also offers a broad range of supporting services, including advanced imaging technologies (like echocardiography and fluoroscopy), intensive care units, and experienced cardiac surgery and anesthesia teams. The hospital segment has essentially contributed to the advancements in the field of TAVR. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
Balloon-expanding valves are an essential component of the TAVR procedure, providing a less invasive alternative to traditional open-heart surgery for patients with aortic valve disease. The main feature of this valve is that it operates on a unique mechanism of deployment that includes the use of a balloon catheter. The construction of balloon-expanding valves is a significant feature of this segment. These valves are manufactured using biological tissue or metal stents chosen for their durability and compatibility with the human body. There are numerous advantages of balloon-expanding valves. This segment mainly caters to patients with specific anatomical characteristics, such as those with heavily calcified or narrow aortic valve openings. Hence, the increasing advantages of this segment will fuel the growth of this segment which in turn will drive the market growth during the forecast period.
The main feature of the self-expanding valves segment is that it expands and deploys itself without the need for a balloon catheter. These are manufactured with materials designed to expand and anchor the valve in the correct position once deployed. These valves are essentially approved by the FDA. A PVL-reducing active outer fabric cuff is a significant innovation of the Navitor THV. There is increasing adoption of SE-THV Patients with small or severely calcific annuli. TAVR-in-SAVR and both supra- and intra-annular valves are recommended for patients. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
For more insights about the market share of various regions View PDF Sample now!
North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Some of the main factors that are significantly contributing to the growth of the transcatheter aortic valve replacement (TAVR) market in North America include the high prevalence of heart-related disorders such as heart valve diseases, stenosis, and atresia and the increasing adoption of suture-less valves, tissue valves, and MI procedures and rapid growth in the older adult population.
Moreover, the main countries in North America which is fuelling the growth of the market in the region include the US and Canada. There is a significant presence of highly developed infrastructure and an increase in the aging population which is positively impacting the market growth in the region. Some of the prominent hospitals and medical centers in the US that are at the forefront of TAVR adoption and clinical research include Cleveland Clinic, Mayo Clinic, and Massachusetts General Hospital. Hence, such factors are expected to drive the market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global transcatheter aortic valve replacement market witnessed a significant slowdown due to the limited availability of beds and other healthcare facilities as well as the decline in availing of surgical treatments for disorders such as TAVR procedures in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of operations in hospitals and clinics. Such factors are expected to drive the market during the forecast period.
Buy Now Full Report and Discover More
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Abbott Laboratories: The company offers transcatheter aortic valve replacement namely Navitor designed to treat aortic stenosis.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
One of the key factors driving the transcatheter aortic valve replacement market growth is the growing aging population globally. The growing aging population across the world has significantly contributed to the increase in demand for TAVR procedures. For example, as per the United Nations data, 771 million people worldwide, or about 10% of the global population, were over 65 years of age in 2022, and the percentage of people in the global population who are 65 years of age or older is expected to increase from 10% in 2022 to 16% in 2050.
Moreover, the increasing prevalence of aortic valve disease, especially aortic stenosis, among older individuals is one of the significant factors fuelling the demand for TAVR procedures in the aging population. Due to the advancement of healthcare and improved living conditions, the life expectancy of people has significantly increased which has increased the risk of aortic stenosis in the aging population. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
A key factor shaping the transcatheter aortic valve replacement market growth is the growing expansion of indications for TAVR procedures. The increasing expansion of indications for TAVR procedures is a primary trend in the field of interventional cardiology. The main factor fuelling the expansion is the growing body of clinical data demonstrating the safety and efficacy of TAVR.
Moreover, several clinical trials and real-world studies have frequently shown favorable outcomes in terms of mortality reduction, symptom improvement, and quality of life for TAVR patients. Therefore, many healthcare providers and regulatory bodies are confident in the advantages of the procedure. Hence, such factors are positively impacting the transcatheter aortic valve replacement market. Therefore, it is expected to drive the market growth during the forecast period.
High costs associated with TAVR procedures are one of the key challenges hindering the transcatheter aortic valve replacement market growth. Even though TAVR offers numerous advantages when compared to traditional SAVR such as shorter recovery times and reduced hospital stays, there is a significant cost associated with the procedure. For example, in the US, the cost of a TAVR procedure can range from USD30,000 to USD70,000 or more.
Moreover, the cost of the procedure is influenced by various factors including the choice of TAVR valve brand, the hospital's location, and the patient's overall health. In addition, TAVR procedures need specialized equipment, such as imaging technology and catheterization equipment, as well as a highly skilled medical team trained in interventional cardiology which adds to the overall cost. Hence, such factors are negatively impacting the transcatheter aortic valve replacement market. Therefore, it is expected to hinder the market growth during the forecast period.
Buy Now Full Report and Discover More
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Transcatheter Aortic Valve Replacement Market Customer Landscape
The transcatheter aortic valve replacement market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
|
Transcatheter Aortic Valve Replacement Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
169 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 7.01% |
|
Market growth 2023-2027 |
USD 2,347.39 million |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
6.23 |
|
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
|
Performing market contribution |
North America at 43% |
|
Key countries |
US, Germany, UK, France, and China |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
4C Medical Technologies Inc., Abbott Laboratories, Anteris Technologies Ltd., Artivion Inc., Biosensors International Group Ltd., Boston Scientific Corp., Colibri Heart Valve LLC, Edwards Lifesciences Corp., Genesis Medtech International Pvt. Ltd., HighLife SAS, JenaValve Technology Inc., LifeNet Health Inc., LivaNova Plc, Medinol Ltd., Medtronic Plc, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corp., Shockwave Medical Inc., Siemens AG, and Venus Medtech Hangzhou Inc. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
View Sample PDF at your Fingertips
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
