USD 5.8 billion
Transcatheter Heart Valve Replacement Market Size, Share, Growth Analysis, By Product (Transcatheter Pulmonary Valve Replacement, Transcatheter Mitral Valve Repair & Replacement), By Surgical Approach (Transapical Approach, Transfemoral Approach), By End-Use, By Application, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35D2143 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
64
Transcatheter Heart Valve Replacement Market Insights
Transcatheter Heart Valve Replacement Market size was valued at USD 6.54 Billion in 2023 and is poised to grow from USD 7.5 Billion in 2024 to USD 22.47 Billion by 2032, growing at a CAGR of 14.70% during the forecast period (2025-2032).
The global transcatheter heart valve replacement market has witnessed remarkable growth as a minimally invasive alternative to traditional open-heart surgery for patients with severe aortic valve disease. TAVR involves implanting a prosthetic valve via catheterization, reducing surgical risks, hospital stays, and recovery times. This approach has gained traction due to its potential to serve high-risk or inoperable patients who were previously ineligible for surgery. The market's growth is propelled by technological advancements, expanding patient pool, and increasing adoption by healthcare providers. The rising aging population, coupled with a higher prevalence of cardiovascular diseases, further fuels the demand for TAVR procedures. Manufacturers are investing in research and development to improve valve designs, delivery systems, and imaging techniques, enhancing procedural outcomes. Overall, the TAVR market is poised for continued growth, driven by its potential to improve patient outcomes, enhance quality of life, and reshape the landscape of cardiovascular interventions. Collaboration between medical device companies, healthcare providers, and regulatory bodies will play a crucial role in shaping the market's trajectory.
US Transcatheter Heart Valve Replacement Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Transfemoral Approach
Fastest Growth
Transfemoral Approach
Growth Rate
15.0% CAGR
Global Transcatheter Heart Valve Replacement Market ($ Bn)
Country Share for North America Region (%)
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Transcatheter Heart Valve Replacement Market Segmental Analysis
Global Transcatheter Heart Valve Replacement Market is segmented by product, surgical approach, end-use, application and region. Based on product, the market is segmented into transcatheter pulmonary valve replacement, transcatheter mitral valve repair & replacement and transcatheter aortic valve replacement. Based on surgical approach, the market is segmented into transapical approach, transfemoral approach and others. Based on end-use, the market is segmented into cath labs and hospitals. Based on application, the market is segmented into pulmonary valvular heart disease, mitral valvular heart disease and aortic valvular heart disease. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Transcatheter Heart Valve Replacement Market Analysis By Product
The Transcatheter Aortic Valve Replacement (TAVR) segment is currently the dominant in the transcatheter heart valve replacement market. TAVR has gained significant traction due to its well-established clinical efficacy and broad adoption for treating aortic valve stenosis, especially among elderly and high-risk patients. Its minimally invasive approach and positive patient outcomes have driven its dominance.
On the other hand, the fastest growing segment is the Transcatheter Mitral Valve Repair and Replacement (TMVR). This segment is experiencing rapid growth due to the increasing prevalence of mitral valve regurgitation and advancements in transcatheter technologies. As innovation continues and clinical evidence accumulates, TMVR is gaining momentum as a less invasive alternative to traditional surgical options for treating mitral valve disorders, thus contributing to its rapid expansion within the market.
Transcatheter Heart Valve Replacement Market Analysis By Surgical Approach
The transcatheter heart valve replacement (THVR) market, based on surgical approach, is characterized by three main segments: Transfemoral Approach, Transapical Approach, and Transaortic Approach. Among these, the Transfemoral Approach stands as the dominant segment, accounting for the largest market share. This approach offers advantages such as minimally invasive procedures, shorter recovery times, and reduced hospital stays, contributing to its widespread adoption.
On the other hand, the fastest-growing segment is the Transapical Approach. This approach is gaining traction due to its suitability for patients with complex anatomies or contraindications to the transfemoral route. Advancements in device technology and techniques have improved outcomes and expanded the applicability of the Transapical Approach, driving its rapid growth within the THVR market.
Global Transcatheter Heart Valve Replacement Market By Surgical approach
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Transcatheter Heart Valve Replacement Market Regional Insights
The global transcatheter heart valve replacement market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America is the dominant region, driven by a robust healthcare infrastructure, technological advancements, and a high prevalence of cardiovascular diseases. The United States, in particular, holds a significant share due to its well-established medical facilities and early adoption of innovative medical procedures.
On the other hand, the Asia-Pacific is witnessing the fastest-growing segment in the transcatheter heart valve replacement market. Countries like China and India are experiencing rapid urbanization, an aging population, and an increasing awareness of advanced medical treatments. This, coupled with improving healthcare accessibility and rising disposable income, is contributing to the accelerated growth of transcatheter heart valve replacement procedures in the region.
Global Transcatheter Heart Valve Replacement Market By Geography
- Largest
- Fastest
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Transcatheter Heart Valve Replacement Market Dynamics
Transcatheter Heart Valve Replacement Market Drivers
Aging Population and Rising Prevalence of Heart Disease
- The aging global population is contributing to an increased incidence of heart valve diseases, such as aortic stenosis, driving the demand for transcatheter heart valve replacement (THVR). As people live longer, the likelihood of developing valve-related issues rises, creating a larger patient pool for THVR procedures.
Minimally Invasive Approach and Shorter Recovery Time
- THVR offers a less invasive alternative to traditional surgical valve replacement, leading to shorter hospital stays, quicker recovery times, and reduced post-operative complications. This appeals to both patients and healthcare providers, boosting adoption rates and market growth.
Transcatheter Heart Valve Replacement Market Restraints
High Initial Costs and Limited Reimbursement:
- The initial costs associated with THVR procedures, including the devices themselves and specialized equipment, can be substantial. Additionally, reimbursement challenges and varying healthcare policies in different regions may hinder patient access and slow market expansion.
Technical Challenges and Learning Curve
- Performing THVR procedures requires specialized training and expertise. The learning curve for physicians transitioning from traditional surgical methods to transcatheter techniques can lead to longer procedure times and potentially higher complication rates, initially impacting adoption and procedural outcomes.
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Transcatheter Heart Valve Replacement Market Competitive Landscape
The global transcatheter heart valve replacement market features a dynamic competitive landscape characterized by a multitude of innovative medical device companies. These entities specialize in developing cutting-edge transcatheter heart valve technologies, focusing on enhanced procedural outcomes, minimally invasive approaches, and patient-centric solutions. Market competition revolves around technological advancements, product differentiation, clinical efficacy, and strategic collaborations with healthcare institutions. As the market continues to evolve, these players strive to offer novel and improved solutions to address the evolving needs of patients and healthcare professionals, driving growth and innovation in the field.
Transcatheter Heart Valve Replacement Market Top Player’s Company Profile
- Edwards Lifesciences Corporation (USA)
- Medtronic plc (Ireland)
- Boston Scientific Corporation (USA)
- Abbott Laboratories (USA)
- JenaValve Technology, Inc. (USA)
- SYMETIS (Switzerland)
- Braile Biomedica (Brazil)
- CryoLife, Inc. (USA)
- Micro Interventional Devices, Inc. (USA)
- LivaNova PLC (UK)
- Meril Life Sciences Pvt. Ltd. (India)
- Venus Medtech (Hangzhou) Inc. (China)
- Suzhou Jiecheng Medical Technology Co. Ltd. (China)
- Peijia Medical Limited (China)
- Blue Sail Medical Co., Ltd. (China)
- Colibri Heart Valve LLC (USA)
- HighLife SAS (France)
- Neovasc Inc. (Canada)
- St. Jude Medical, Inc. (USA)
Transcatheter Heart Valve Replacement Market Recent Developments
- In 2022, the FDA approved two new transcatheter heart valves: the Edwards Sapien 3 Ultra and the Medtronic CoreValve Evolut R. These new valves offer improved performance and safety over previous generations of transcatheter heart valves.
- In 2023, Several new TAVR devices were launched including the Edwards Sapien 3 Ultra, the Medtronic Evolut R, and the Boston Scientific CoreValve Evolut PRO. These new devices offer a variety of improvements over previous generations of TAVR devices, such as smaller size, longer durability, and easier implantation.
Transcatheter Heart Valve Replacement Key Market Trends
Technological Advancements and Innovations:
- The THVR market is witnessing rapid advancements in technology, leading to the development of more advanced and minimally invasive procedures. Innovations such as improved valve designs, enhanced imaging techniques, and novel delivery systems are enabling safer and more effective procedures, reducing complications and expanding the pool of eligible patients. These technological advancements are driving increased adoption of THVR as a preferred treatment option for patients with aortic valve diseases.
Expanding Indications and Patient Populations:
- The THVR market is expanding beyond traditional indications, such as aortic stenosis, to include other valve diseases and patient populations. As clinical evidence accumulates and experience grows, transcatheter heart valve replacement is being explored for broader applications, such as mitral and tricuspid valve diseases. Additionally, efforts are being made to treat high-risk and intermediate-risk patients, further widening the market's reach. This trend is fueled by a growing aging population and the need for less invasive treatment options, positioning THVR as a promising solution for a wider range of patients.
Transcatheter Heart Valve Replacement Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global transcatheter heart valve replacement market analysis, the market is experiencing rapid growth due to its minimally invasive approach and aging population. With reduced surgical risk and shorter recovery times, transcatheter procedures are becoming preferred alternatives to traditional open-heart surgery. North America is the dominant region, driven by a robust healthcare infrastructure, technological advancements, and a high prevalence of cardiovascular diseases. Technological advancements, expanding clinical indications, and increasing awareness are driving market expansion. However, cost considerations, procedural complexities, and regulatory factors could impact adoption. Overall, the market is poised for sustained growth as it addresses unmet medical needs and offers improved patient outcomes in the field of structural heart disease treatment.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.8 billion |
| Market size value in 2031 | USD 20.4 billion |
| Growth Rate | 15.0% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Transcatheter Heart Valve Replacement Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Transcatheter Heart Valve Replacement Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Transcatheter Heart Valve Replacement Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Transcatheter Heart Valve Replacement Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Transcatheter Heart Valve Replacement Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Transcatheter Heart Valve Replacement Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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