Press release
Transcatheter Heart Valve Replacement and Repair Market 2023: High Demand For Minimally Invasive Surgeries in Aortic Stenosis Cases
The global transcatheter heart valve replacement & repair market was valued at US$ 1,605.5 Mn in 2015 and is expected to expand at a CAGR of 13.9% over the forecast period (2016-2026).
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The increasing prevalence of cardiovascular diseases, such as aortic stenosis and mitral regurgitation, is one of the major drivers of the TAVR and repair market. According to the American Heart Association, cardiovascular disease is the leading cause of death worldwide, accounting for approximately 17.9 million deaths per year.
The rising demand for minimally invasive procedures is another major driver of the market. TAVR and repair procedures are minimally invasive and have several advantages over traditional open-heart surgery, such as reduced recovery time, shorter hospital stays, and lower risk of complications.
Technological advancements in the field of cardiology are also driving the market. The development of new materials and devices, such as the use of 3D printing technology to create patient-specific heart valves, is expected to drive the market in the coming years.
Companies
Edwards LifeSciences Corporation
Medtronic, Inc.
Boston Scientific Corporation
Abbott Laboratories
Jude Medical, Inc.
JenaValve Technology
SYMETIS
Braile Biomedica
other
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The market is segmented by product type, application, and region. On the basis of product type, the market is divided into transcatheter heart valves and accessories. The transcatheter heart valves segment is further segmented into balloon-expanded and self-expanding valves. The accessories segment includes delivery systems, closure devices, and imaging systems. The transcatheter heart valves segment accounted for the largest share of the market in 2020 due to the increasing adoption of TAVR procedures.
On the basis of application, the market is divided into aortic stenosis, mitral regurgitation, and others. Aortic stenosis is the most common application of TAVR and accounted for the largest share of the market in 2020.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America accounted for the largest share of the market in 2020 due to the high prevalence of cardiovascular diseases and the presence of major market players in the region.
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Key Segments Covered
By Product Type
Transcatheter Aortic Valve Replacement (TAVR)
Transcatheter Mitral Valve Repair (TMVR)
By Surgical Approach
Transfemoral Approach
Transapical Approach
Transaortic Approach
By End User
Hospitals
Ambulatory Surgical Centers
Cardiac Catheterization Laboratory
By Region
North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan
Japan
Middle East & Africa
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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