Transcatheter Heart Valve Replacement Market Forecast Report By Type (Transcatheter Aortic Valve Replacement, Transcatheter Mitral Valve Replacement, Transcatheter Pulmonary Valve Replacement), Material (Mechanical valves, Biological Valves), End-User (Hospitals, Ambulatory Surgical Centers, Others), Countries and Company Analysis 2024-2032

Driving Forces for Transcatheter Heart Valve Replacement Market

An increasing number of individuals with cardiovascular disease - The transcatheter heart valve replacement (THVR) industry is expected to develop significantly due in large part to the growth in the prevalence of cardiovascular diseases (CVDs) around the world. Aging populations, sedentary lifestyles, and rising rates of illnesses like diabetes and hypertension are contributing to the prevalence of conditions like aortic stenosis, which frequently necessitates valve replacement.

For instance, as per the October 2022 revised data from the CDC, there is a heart attack in the United States every 40 seconds, and approximately 805,000 Americans suffer from a heart attack each year. 

The need for efficient treatment alternatives like THVR is increasing along with the number of individuals receiving a serious CVD diagnosis. In contrast to conventional open-heart surgery, which may be more dangerous for elderly or ill patients, transcatheter heart valve replacement (THVR) provides a minimally invasive option that can lower risks, speed up recovery, and enhance overall results. This aligns with medical trends supporting minimally invasive techniques that improve patient outcomes and recuperation.

Introduction of novel products to support market expansion—The launch of new products for transcatheter heart valve replacement is anticipated to significantly expand market share. The introduction of transcatheter technology at a time when individuals are quickly choosing less invasive treatment choices is expected to support the growth of the THVR market over the forecast period.

For instance, JenaValve Technology, Inc., a manufacturer of TAVR devices, announced the European release of the Trilogy heart valve system in October 2021. The CE Mark authorization for AS for the Trilogy system also gives European clinicians options for dual-disease therapy.

The rising need for less intrusive medical procedures - The market for transcatheter heart valve replacement (THVR) has grown substantially due to the increasing use of minimally invasive surgery (MIS). Compared to traditional open-heart surgery, MIS techniques—including THVR—offer several benefits, including smaller incisions, less tissue damage, quicker recovery periods, and decreased incidence of problems, including bleeding and infections.

Due to MIS's less invasiveness and speedier recovery, patients are choosing it increasingly, which is a growing demand for THVR operations. Healthcare practitioners also prefer MIS due to its possible cost-effectiveness and capacity to handle high-risk or elderly patients who cannot bear lengthy procedures. Further promoting THVR acceptance are developments in imaging and catheter technologies, which have improved the accuracy and security of THVR procedures.

North America Transcatheter Heart Valve Replacement Market

A significant part of North America's cardiovascular medical device market is the transcatheter heart valve replacement (THVR) market. Numerous variables contribute to its cause, such as a sizable senior population, a high incidence of cardiovascular illnesses (CVDs) such as aortic stenosis, and a sophisticated healthcare system that fosters technological developments. As per the CDC, in 2021, heart disease claimed the lives of about 695,000 people or 1 in 5 fatalities. Furthermore, According to John Muir Health estimates, around 1.5 million Americans have aortic stenosis in 2020, and within this patient population, approximately 500,000 have severe aortic stenosis. According to the same source, there were around 250,000 symptomatic aortic stenosis patients in the US in 2020.

Because THVR operations are less intrusive than standard open-heart surgery, they are becoming increasingly popular in North America. This is because they involve fewer dangers and shorter recovery times. Leading key players in the industry, including Abbott Laboratories, Medtronic, and Edwards Lifesciences, are always coming up with new ideas to enhance device functionality and increase available treatment options.

Additionally, the FDA and other regulatory agencies in the US are essential in approving and monitoring THVR devices and making sure that safety and efficacy requirements are fulfilled. Vital healthcare reimbursement programs in the area also make it easier for patients to receive these cutting-edge therapies, accelerating market expansion. North America is a crucial market for THVR innovation and uptake, propelled by continuous technology developments and demographic trends.

Transcatheter Heart Valve Replacement Company Analysis

The top transcatheter heart valve replacement companies are Edwards Lifesciences, Abbott Laboratories, Medtronic Plc, LIVANOVA PLC, Boston Scientific Corporation, Artivion, Inc., MicroPort Scientific Corporation, and Venus Medtech (Hangzhou) Inc.

Transcatheter Heart Valve Replacement Company News

September 2022 - OpSens Inc. disclosed that the FDA had granted SavvyWire, their innovative guidewire for TAVR procedures, 510(k) regulatory clearance.

September 2021 - China has approved the commercialization of Microport's first motorized retrievable transcatheter aortic valve (TAVI) system, VitaFlow Liberty.

August 2021 - The FDA approved JenaValve's ALIGN-AR pivotal study, which uses a trio valve to treat aortic regurgitation.

September 2020 - In Europe, Boston Scientific unveiled the ACURATE neo2 aortic valve system, which enhances clinical efficacy and offers a broader range of applications for those suffering from aortic stenosis.

Type – Market breakup in 3 viewpoints:

1. Transcatheter Aortic Valve Replacement
2. Transcatheter Mitral Valve Replacement
3. Transcatheter Pulmonary Valve Replacement

Material – Market breakup in 2 viewpoints:

1. Mechanical valves
2. Biological Valves

End User – Market breakup in 3 viewpoints:

1. Hospitals
2. Ambulatory Surgical Centers
3. Others

Country – Market breakup of 25 Countries:

North America

•    United States
•    Canada

Europe

•    France
•    Germany
•    Italy
•    Spain
•    United Kingdom
•    Belgium
•    Netherland
•    Turkey

Asia Pacific

•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Thailand
•    Malaysia
•    Indonesia
•    New Zealand

Latin America

•    Brazil
•    Mexico
•    Argentina

Middle East & Africa

•    South Africa
•    Saudi Arabia
•    UAE

Rest of the World

All the key players have been covered from 4 Viewpoints:

•    Business Overview
•    Product Portfolio
•    Recent Development
•    Revenue Analysis

Key Players Analysis:

1. Edwards Lifesciences
2. Abbott Laboratories
3. Medtronic Plc
4. LIVANOVA PLC
5. Boston Scientific Corporation
6. Artivion, Inc.
7. MicroPort Scientific Corporation
8. Venus Medtech (Hangzhou) Inc.

Report Details: