The transcatheter aortic valve replacement (TAVR) market is projected to expand from US$ 6.34 billion in 2023 to US$ 19.63 billion by 2031, reflecting a compound annual growth rate (CAGR) of 15.2% during this period.
Several key factors are propelling the growth of this market, including the increasing frequency of aortic valve replacement surgeries and the rising preference for minimally invasive techniques in treating aortic stenosis (AS). However, the market faces challenges due to a growing number of product recalls, which can hinder its expansion.
Market Trends in Transcatheter Aortic Valve Replacement
The surge in research activities within the TAVR sector is influenced by multiple factors, such as the rising incidence of aortic valve diseases, technological advancements in medical devices, and the demand for evidence-based treatment methodologies. Clinical trials play a vital role in evaluating the safety and effectiveness of new surgical methods, prosthetic valves, and transcatheter interventions. These studies are essential for identifying risk factors, refining patient selection criteria, and assessing long-term outcomes, all of which contribute to enhancing patient care and overall quality of life. As the need for aortic valve replacements continues to grow, the significance of conducting thorough clinical trials becomes increasingly apparent, providing healthcare professionals and patients with the necessary evidence to make informed treatment decisions. With ongoing research and collaboration among medical institutions, the future of aortic valve replacement appears bright, with the potential for innovative and effective treatment options on the horizon.
Some notable ongoing clinical trials in the realm of aortic valve replacement devices include:
- A multi-center randomized study initiated in April 2022 aimed at gathering safety and effectiveness data to support the expansion of indications for the Medtronic TAVR System, particularly for patients with moderate, symptomatic AS.
Such advancements are expected to significantly enhance the growth of the transcatheter aortic valve replacement market in the upcoming years.
Segmental Analysis of the Transcatheter Aortic Valve Replacement Market
The transcatheter aortic valve replacement market is categorized based on procedure, material, mechanism, and end user.
- **By Procedure:** The market is divided into transfemoral implantation, transapical implantation, and transaortic implantation. The transfemoral implantation segment dominated the market in 2023 and is projected to exhibit the highest CAGR from 2023 to 2031. TAVR has transformed the treatment landscape for AS, being ideally performed as a fully percutaneous procedure via the transfemoral approach. This method offers numerous advantages, including ease of use, quicker patient mobility, fast-track protocols, and reduced surgical incisions.
- **By Material:** The market is segmented into stainless steel, nitinol, cobalt chromium, and others. The cobalt chromium segment held the largest market share in 2023 and is expected to experience the highest CAGR from 2023 to 2031.
- **By Mechanism:** The market is divided into balloon-expanding valves and self-expanding valves. The balloon-expanding valve segment led the market in 2023 and is anticipated to achieve the highest CAGR from 2023 to 2031.
- **By End User:** The transcatheter aortic valve replacement market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment accounted for the largest market share in 2023.
Geographical Insights into the Transcatheter Aortic Valve Replacement Market
The transcatheter aortic valve replacement market report encompasses various regions, including North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and the rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, UAE, and the rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the rest of South & Central America). In terms of revenue, North America led the transcatheter aortic valve replacement market in 2023. Furthermore, the Asia Pacific region is expected to register the highest CAGR from 2023 to 2030, driven by the initiatives and contributions of key players in the region, such as Abbott, Medtronic, and Venus Medtech Hang Zhou Inc. In October 2023, Japan Lifeline Co., Ltd. entered into a 10-year exclusive distribution agreement with Meril Life Sciences Pvt. Ltd., allowing Japan Lifeline to distribute the "Myval Octacor" transcatheter heart valve in Japan, following its approval by the Ministry of Health, Labor and Welfare. This valve is utilized in TAVR/TAVI procedures.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Transcatheter Aortic Valve Replacement Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Transcatheter Aortic Valve Replacement Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Transcatheter Aortic Valve Replacement Market - Global Market Analysis
6.1 Transcatheter Aortic Valve Replacement - Global Market Overview
6.2 Transcatheter Aortic Valve Replacement - Global Market and Forecast to 2031
7. Transcatheter Aortic Valve Replacement Market - Revenue Analysis (USD Million) - By Procedure, 2021-2031
7.1 Overview
7.2 Transfemoral Implantation
7.3 Transapical Implantation
7.4 Transaortic Implantation
8. Transcatheter Aortic Valve Replacement Market - Revenue Analysis (USD Million) - By Material, 2021-2031
8.1 Overview
8.2 Stainless Steel
8.3 Nitinol
8.4 Cobalt Chromium
8.5 Others
9. Transcatheter Aortic Valve Replacement Market - Revenue Analysis (USD Million) - By Mechanism, 2021-2031
9.1 Overview
9.2 Balloon-Expanding Valve
9.3 Self-Expanding Valve
10. Transcatheter Aortic Valve Replacement Market - Revenue Analysis (USD Million) - By End User, 2021-2031
10.1 Overview
10.2 Hospitals
10.3 Ambulatory Surgical Centers
10.4 Others
11. Transcatheter Aortic Valve Replacement Market - Revenue Analysis (USD Million), 2021-2031 - Geographical Analysis
11.1 North America
11.1.1 North America Transcatheter Aortic Valve Replacement Market Overview
11.1.2 North America Transcatheter Aortic Valve Replacement Market Revenue and Forecasts to 2031
11.1.3 North America Transcatheter Aortic Valve Replacement Market Revenue and Forecasts and Analysis - By Procedure
11.1.4 North America Transcatheter Aortic Valve Replacement Market Revenue and Forecasts and Analysis - By Material
11.1.5 North America Transcatheter Aortic Valve Replacement Market Revenue and Forecasts and Analysis - By Mechanism
11.1.6 North America Transcatheter Aortic Valve Replacement Market Revenue and Forecasts and Analysis - By End User
11.1.7 North America Transcatheter Aortic Valve Replacement Market Revenue and Forecasts and Analysis - By Countries
11.1.7.1 United States Transcatheter Aortic Valve Replacement Market
11.1.7.1.1 United States Transcatheter Aortic Valve Replacement Market, by Procedure
11.1.7.1.2 United States Transcatheter Aortic Valve Replacement Market, by Material
11.1.7.1.3 United States Transcatheter Aortic Valve Replacement Market, by Mechanism
11.1.7.1.4 United States Transcatheter Aortic Valve Replacement Market, by End User
11.1.7.2 Canada Transcatheter Aortic Valve Replacement Market
11.1.7.2.1 Canada Transcatheter Aortic Valve Replacement Market, by Procedure
11.1.7.2.2 Canada Transcatheter Aortic Valve Replacement Market, by Material
11.1.7.2.3 Canada Transcatheter Aortic Valve Replacement Market, by Mechanism
11.1.7.2.4 Canada Transcatheter Aortic Valve Replacement Market, by End User
11.1.7.3 Mexico Transcatheter Aortic Valve Replacement Market
11.1.7.3.1 Mexico Transcatheter Aortic Valve Replacement Market, by Procedure
11.1.7.3.2 Mexico Transcatheter Aortic Valve Replacement Market, by Material
11.1.7.3.3 Mexico Transcatheter Aortic Valve Replacement Market, by Mechanism
11.1.7.3.4 Mexico Transcatheter Aortic Valve Replacement Market, by End User
Note - Similar analysis would be provided for below mentioned regions/countries
11.2 Europe
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Rest of Europe
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Middle East and Africa
11.4.1 South Africa
11.4.2 Saudi Arabia
11.4.3 U.A.E
11.4.4 Rest of Middle East and Africa
11.5 South and Central America
11.5.1 Brazil
11.5.2 Argentina
11.5.3 Rest of South and Central America
12. Industry Landscape
12.1 Mergers and Acquisitions
12.2 Agreements, Collaborations, Joint Ventures
12.3 New Product Launches
12.4 Expansions and Other Strategic Developments
13. Competitive Landscape
13.1 Heat Map Analysis by Key Players
13.2 Company Positioning and Concentration
14. Transcatheter Aortic Valve Replacement Market - Key Company Profiles
14.1 Abbott Laboratories
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
Note - Similar information would be provided for below list of companies
14.2 Medtronic Plc
14.3 Artivion Inc
14.4 Boston Scientific Corp
14.5 Edwards Lifesciences Corp
14.6 JenaValve Technology, Inc
14.7 Blue Sail Medical Co Ltd
14.8 JC Medical, Inc
14.9 Venus Medtech HangZhou Inc
14.10 Anteris Technologies Ltd
15. Appendix
15.1 Glossary
15.2 About
15.3 Market Intelligence Cloud
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LIST OF TABLES
LIST OF FIGURES
The List of Companies - Transcatheter Aortic Valve Replacement Market
Abbott Laboratories
Medtronic Plc.
Artivion Inc
Boston Scientific Corp
Edwards Lifesciences Corp
JenaValve Technology, Inc.
Blue Sail Medical Co Ltd
JC Medical, Inc
Venus Medtech HangZhou Inc
Anteris Technologies Ltd
