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  • Published On : May 2023
  • Code : CMI3380
  • Pages :105
  • Formats :
      Excel and PDF
  • Industry : Medical Devices

The global transcatheter heart valve market size is estimated to be valued at US$ 4.57 Billion in 2023 and is expected to exhibit a CAGR of 13.9 % during the forecast period (2023-2030).

Analysts’ Views on Global Transcatheter Heart Valve Market:

Increasing prevalence of aortic stenosis is expected to drive the global transcatheter heart valve market over the forecast period. For instance, in June 2021, an article published by BMJ Publishing Group Ltd, a publisher of medical journals, stated that the overall incidence rate of clinically significant aortic stenosis was 2.48 per 1000 person per year, and for moderate or severe aortic stenosis 4.05 per 1000 person per year.

Figure 1. Global Transcatheter Heart Valve Market Share (%), by Product Type, 2023

TRANSCATHETER HEART VALVE MARKET

Global Transcatheter Heart Valve Market – Driver

Increasing geriatric population

Transcatheter Heart Valve is mostly used to treat aortic stenosis, which occurs mostly in geriatric population, hence, increasing awareness campaign by key market players is expected to drive the transcatheter heart valve market over the forecast period. For instance, in October 2022, according to the World Health Organization (WHO), by 2030 the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion.

Figure 2. Global Transcatheter Heart Valve Market Value (US$ Billion), by Region, 2023

TRANSCATHETER HEART VALVE MARKET

Global Transcatheter Heart Valve Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global transcatheter heart valve market over the forecast period. North America holds 40.9% of the market share due to the increasing prevalence of aortic stenosis in the region. For instance, in January 2022, according to the Guardian News & Media Limited, a mass media company, stated that about 300,000 people in the U.K. have potentially deadly aortic valve condition.

Global Transcatheter Heart Valve Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

The COVID-19 pandemic had a negative impact on the global transcatheter heart valve market. For instance, in April 2022, according to a report published by National Center for Biotechnology Information (NCBI), stated that due to the poor prognosis of patients affected by severe symptomatic aortic stenosis, because of delay in its treatment (either surgical aortic valve replacement (SAVR) or TAVI) by several months due to COVID-19 resulted in thousands of deaths.

Global Transcatheter Heart Valve Market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2023: US$ 4.57 Bn
Historical Data for: 2017 to 2021 Forecast Period: 2023 to 2030
Forecast Period 2023 to 2030 CAGR: 13.9% 2030 Value Projection: US$ 11.35 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product and Services: TAVR, TMVR
  • By  Delivery Systems: Transfemoral Approach, Transapical Approach, Transaortic Approach 
  • By End User: Hospitals, Ambulatory Surgical Centers, Cardiac Catheterization Laboratory, Other (Specialty Center, etc.)
Companies covered:

Edwards Lifesciences Corporation, Medtronic, Boston Scientific Corporation, Abbott, JenaValve Technology, SYMETIS, Braile Biomedica, CryoLife, Inc., Shockwave Medical Inc., Venus Medtech (Hangzhou) Inc.

Growth Drivers:
  • Increasing geriatric population
Restraints & Challenges:
  • Increasing product recalls

Global Transcatheter Heart Valve Market Segmentation:

The global transcatheter heart valve market is segmented into Product Type, Delivery Systems, End User, and Region

Based on Product Type, the market is segmented into TAVR and TMVR. Out of which, the TMVR segment is expected to dominate the transcatheter heart valve market during the forecast period, and this is due to the increase in the usage of TMVR for the treatment of aortic stenosis.

Based on Delivery Systems, the transcatheter heart valve market is segmented into transfemoral approach, transapical approach, transaortic approach. Transfemoral approach segment is expected to dominate the market over the forecast period, and this is attributed to the increasing prevalence of cardiac disorders.

Based on End User, the transcatheter heart valve market is segmented into hospitals, ambulatory surgical centers, cardiac catheterization laboratory and others. Hospitals segment is expected to dominate the market over the forecast period and this is attributed to the increasing hospital admissions for transcatheter heart valve.

Among all segmentation, delivery systems segment has the highest potential due to the increasing usage of transfemoral approach for TAVR. For instance, in February 2020, according to an article published by American Heart Association, Inc., a nonprofit organization in the U.S. that funds cardiovascular medical research, stated that the transfemoral approach has usually been used as secondary access in TAVR procedures.

Global Transcatheter Heart Valve Market Cross Sectional Analysis:

In delivery systems segment, transfemoral approach hold a dominant segment in North America region due to the increasing prevalence of surgical site infection. For instance, on January 11 2023, according to report published by BioMed Central Ltd, an open access journal, stated that transfemoral approach is used mostly for transcatheter heart valve techniques.

Global Transcatheter Heart Valve Market: Key Developments

  • Key players in the market are focused on product approvals, which is expected to drive the global transcatheter heart valve market growth over the forecast period. For instance, in September 2022, Edwards Lifesciences, a medical technology company, received U.S. FDA approval for the latest generation of its Sapien 3 transcatheter aortic valve, which is outfitted with materials that the company claims will form the foundation of future heart valve implants.
  • In August 2021, Medtronic, a medical device company, announced the U.S. Food and Drug Administration (FDA) approval of its newest-generation, self-expanding transcatheter aortic valve replacement (TAVR) system, the Evolut FX TAVR system.
  • In May 2021, Abbott, a multinational medical devices and health care company, announced that it had received CE Mark for its latest-generation transcatheter aortic valve implantation (TAVI) system, Navitor, making the minimally invasive device available for people in Europe with severe aortic stenosis who are at high or extreme surgical risk.

Global Transcatheter Heart Valve Market: Key Trends

Increasing prevalence of aortic stenosis

Increasing prevalence of aortic stenosis is expected to drive the transcatheter heart valve market growth over the forecast period. For instance, in March 2022, according to Edwards Lifesciences Corporation, a medical technology company, stated that for people over the age of 75 years, the prevalence of severe aortic stenosis is 3%.

Hence, increasing awareness of transcatheter heart valve devices may help in reducing the prevalence of aortic stenosis which will then help in the growth of the transcatheter heart valve market growth over the forecast period

Global Transcatheter Heart Valve Market: Restraint

Increasing product recalls

The global transcatheter heart valve market can be hindered by Increasing product recalls. For instance, in April 2022, Medtronic, a medical device company, announced that it has recalled harmony delivery catheter, part of transcatheter pulmonary valve (tpv) system, for risk of capsule break during use.

Global Transcatheter Heart Valve Market - Key Players

Major players operating in the global transcatheter heart valve market include Edwards Lifesciences Corporation, Medtronic, Boston Scientific Corporation, Abbott, JenaValve Technology, SYMETIS, Braile Biomedica, CryoLife, Inc., Shockwave Medical Inc., Venus Medtech (Hangzhou) Inc.

Frequently Asked Questions

The global transcatheter heart valve market is estimated to be valued at US$ 4.57 Billion in 2023 and is expected to exhibit a CAGR of 13.9 % between 2023 and 2030.

Increasing geriatric population is expected to drive the market growth.

TMVR is the leading product type segment in the market.

Increasing product recalls is expected to hinder the market over the forecast period.

Major players operating in the market include Edwards Lifesciences Corporation, Medtronic, Boston Scientific Corporation, Abbott, JenaValve Technology, SYMETIS, Braile Biomedica, CryoLife, Inc., Shockwave Medical Inc., Venus Medtech (Hangzhou) Inc.

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