The global Transcatheter Heart Valve market size is expected to be worth around US$ 10.62 billion by 2030, according to a new report by Vision Research Reports.
The global Transcatheter Heart Valve market size was valued at US$ 6.93 billion in 2020 and is anticipated to grow at a CAGR of 20.0% during forecast period 2021 to 2030.
The market is currently under-penetrated as these products are approved only for geriatric patients who cannot undergo normal valve surgeries. Growth drivers such as increasing prevalence of chronic cardiovascular diseases, increasing economic development, improvement in reimbursement scenario, and faster adoption of new technologies are expected to significantly improve the usage rates over the forecast period.
The transcatheter heart valve market is evolving rapidly due to the continuous investments in R&D by the key market players such as Edwards Life Sciences, Medtronic, St. Jude, and Boston Scientific. The technologically advanced products such as the SAPIEN 3 transcatheter heart valve and the TRINITY Valve are designed to reduce the surgical complications and improve patient compliance. For instance, the TRINITY TAVI system enables easy retrieval and repositioning of the device, without compromising on patient safety and treatment outcomes.
Furthermore, the market is expected to experience strong tailwinds on account of growing investor interest, lucrative product pipeline, faster regulatory approvals, and high competition to acquire potential start-ups. For example, some of the notable investments in the market include the USD 37 million funding of Venus MedTech by Goldman Sachs. In line with the market trends, the other market participants such as Boston Scientific, Edward Life Sciences, and Medtronic have also increased their investments to develop new products for management of mitral valve regurgitation and tricuspid valve replacements.
Key application segments include transcatheter aortic valve, pulmonary valve, and mitral valve. In 2020, the transcatheter aortic valve segment accounted for the maximum share of 83.31%, owing to the growing healthcare expenditure, increasing prevalence of chronic heart diseases, and increasing number of people with severe aortic stenosis. Moreover, technological advancements pertaining to the development of the tricuspid valve intervention, implementation of harpoon, and neochord systems are also amongst the key factors that are expected to boost usage rates over the forecast period.
Additionally, various clinical trials conducted to demonstrate the significance of transcatheter aortic valve replacement therapy for the treatment of inoperable patients with aortic stenosis or other valvular diseases have enabled faster adoption of this technology across the U.S. and EU nations. For instance, PARTNER II clinical trial pertaining to the Edwards Sapien 3 study involving over 1000 patients at around 50 locations in Canada and the U.S., demonstrated more desirable outcomes pertaining to various primary endpoints such as stroke, mortality, and the ability to serve moderate-to-severe valve regurgitation.
However, the transcatheter mitral valve segment is expected to have the highest CAGR of 23.0% over the forecast period. The U.S. FDA approval of the transcatheter mitral repair device in October 2013 is a key driver of the growth of this segment. Growing awareness regarding the benefits of minimally invasive heart valve surgeries and increasing demand for new treatment options for mitral regurgitation are expected to drive the usage rates over the forecast period.
the self-expanded transcatheter valve market accounted for a maximum share of 65.6%. Most of the first and second-generation transcatheter heart valves are based on this technology and, therefore, account for the maximum market share. However, due to technological advancements, increasing awareness regarding the benefits of balloon-expandable valve systems, and improvements in clinical outcomes, the balloon catheters segment is expected to have the fastest CAGR of nearly 17% over the forecast period.
North America accounted for the majority share of nearly 49%. The major factors contributing to its high market share include the increasing investment in R&D and growing awareness about advanced transcatheter heart valve therapy. The U.S. accounts for the majority share in North America and the U.S. FDA approval for these products is a critical milestone for commercialization. Moreover, the robust reimbursement framework, incentives for new product development, and collaboration between various stakeholders are additional factors driving growth in this region.
However, Asia Pacific is expected to grow with a maximum CAGR of 17.8% over the forecast period. Japan and China are few of the key hubs for the medical devices market. The growing demand for innovative heart valve therapy devices, rapidly developing the healthcare sector, increasing geriatric population, and rising healthcare expenditure are among the few factors that are expected to boost the transcatheter heart valve market growth. For instance, in some states of India, the presence of favorable government initiatives and reimbursement policies such as Aarogyasri, Jeevandayee Arogya Yojana, and Kalaignar insurance scheme provide coverage for the transcatheter heart therapies.
Boston Scientific Corporation, Bracco Group, Braile Biomedica, Direct Flow Medical, Edwards Lifesciences, JenaValve, St. Jude Medical, Symetis, and ValveXchange, Inc.
Transcatheter Heart Valve Application Outlook
Transcatheter aortic valve
Transcatheter pulmonary valve
Transcatheter mitral valve
Transcatheter Heart Valve Technology Outlook
Balloon expanded transcatheter valve
Self-expanded transcatheter valve
Transcatheter Heart Valve Regional Outlook
The Transcatheter Heart Valve market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Transcatheter Heart Valve market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Transcatheter Heart Valve market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Transcatheter Heart Valve market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Transcatheter Heart Valve market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Transcatheter Heart Valve capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Transcatheter Heart Valve by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Transcatheter Heart Valve market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Transcatheter Heart Valve market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Transcatheter Heart Valve market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Transcatheter Heart Valve industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Transcatheter Heart Valve market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Transcatheter Heart Valve market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Transcatheter Heart Valve market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Transcatheter Heart Valve market. These factors have benefited the growth of the global market for Transcatheter Heart Valve. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Transcatheter Heart Valve. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Transcatheter Heart Valve are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: