The global transcatheter aortic valve replacement market size is projected to hit around USD 15.8 billion by 2030, growing at a CAGR of 22.86% from 2022 to 2030
Increasing incidence of cardiovascular diseases and severe aortic stenosis disorder are among key factors augmenting the TAVR device market. Moreover, rising number of various clinical trials such as Edwards SAPIEN 3 and Medtronic Transcatheter Aortic Valve 2.0 Replacement System are likely to contribute to the growth of the market during the forecast period.
Improvements in surgical techniques and quality of implantable valves are leading to an increase in the adoption of aortic valve replacement procedures. Moreover, surging demand for minimally invasive surgeries as compared to traditional open-heart procedures, availability of reimbursement for surgical procedures, and growing inclination of physicians towards TAVR procedures are projected to boost the growth of the market.
Launch of new devices with advanced technology for fast and effective treatment is poised to propel the market. For instance, in April 2021, St. Jude Medical launched a new device - Trifecta Valve with glide technology to be used in both conventional as well as minimally invasive procedures.
Scope of The Report
|Revenue Forecast by 2030||USD|
|Growth rate from 2022 to 2030||CAGR of%|
|Forecast Period||2022 to 2030|
|Segmentation||Implantation Procedure, End Users, Region
|Companies Covered||Medtronic plc; Boston Scientific Corporation; Meril Life Sciences Pvt. Ltd., Inc.; Edwards Lifesciences Corporation; St. Jude Medical, Inc.; JenaValve Technology, Inc.; Bracco SpA; Transcatheter Technologies GmbH|
Based on the procedure, the TAVR market is segmented into transapical implantation, transfemoral implantation, and transaortic implantation. Transfemoral implantation was the leading segment in 2021 due to improved technology such as vascular closure system. This implantation is minimally invasive, facilitating faster recovery, and reducing the overall length of hospital stay.
Various collaborations, mergers & acquisitions, and increased funding for research & development to reduce complications and enhance effective treatment are expected to drive the market. For instance, in March 2017, Boston Scientific Corporation acquired Symetis SA for USD 435 million to develop products such as ACCURATE neo/TF and ACCURATE TA valve systems. These devices are anticipated to enhance the treatment of patients suffering from symptomatic aortic valve stenosis globally. This acquisition will help the company strengthen its manufacturing capabilities as well as research and development.
Transapical implantation is likely to register the highest CAGR during the forecast period owing to the increasing number of patients preferring efficient therapy with quick recovery. In February 2012, Braile Biomedica launched a transapical aortic valve in Brazil. This launch is projected to widen the company’s product portfolio and expand its reach in the Latin America region.
The U.S. dominated the market in 2021, accounting for more than 40.7% of the transcatheter aortic valve implantation market. This can be attributed to the high adoption of technologically advanced products, mergers & acquisitions, and favourable reimbursement policies. For instance, reimbursement from government organizations such as Centers for Medicare & Medicaid Services (CMS) helps patients to opt for transcatheter aortic valve replacement procedure. The primary payer for almost 90% of the TAVR procedures was Medicare in the year 2021. This strengthened the economic advantage of opting for TAVR instead of surgical aortic valve replacement (SAVR).
Italy is poised to post the fastest growth during the forecast period. Increasing healthcare expenditure owing to the rising prevalence of cardiovascular diseases and surging use of improved implant devices imposing less risk to patients is leading to a shift towards transcatheter aortic valve replacement procedures.
Germany and France are significant markets in Europe. According to the National Center for Biotechnology Information (NCBI), in 2015, 31,000 aortic valve procedures were performed in Germany due to advancements in aortic valve replacement procedure, making it the most preferred destination for valve replacement implantation.