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Transcatheter Heart Valve Replacement Market is Projected to Reach US$ 19.43 Billion by 2034

07-09-2024 08:35 AM CET | Health & Medicine

Press release from: Fact.MR

Transcatheter Heart Valve Replacement Market

Transcatheter Heart Valve Replacement Market

Global revenue from transcatheter heart valve replacement is estimated at US$ 5.31 billion in 2024 and is projected to grow at a CAGR of 13.9%, reaching US$ 19.43 billion by 2034. The market for transcatheter aortic valve replacement (TAVR) is experiencing significant growth due to the increasing prevalence of heart disorders worldwide.

Transcatheter heart valve replacement provides a solution for aortic valve stenosis, a condition where the aortic valve becomes narrow and stiff. This narrowing often results in symptoms such as chest pain and shortness of breath. As these symptoms become intolerable, more individuals are opting for TAVR, driving the market's expansion.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐š ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐“๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:

Country-wise Evaluation

Heart diseases are increasingly common in countries such as Canada, the United States, Mexico, China, and South Korea. According to Fact.MR, a leading market intelligence company, the South Korean market is projected to expand at a CAGR of 14.7% from 2024 to 2034.

In the United States, heart disease is one of the leading causes of death. FDA approval has enhanced access to TAVR devices, making them more available to patients. The preference for minimally invasive solutions, which lead to faster recovery times, is growing. Additionally, transcatheter heart valve replacement devices are included in reimbursement schemes, and the well-established healthcare infrastructure in the country helps minimize complications.

Category-wise Insights

Demand for transcatheter mitral valve replacement (TMVR) devices is projected to increase at a CAGR of 14.5% from 2024 to 2034. TMVR is being adopted as a less invasive alternative to open-heart surgery for treating mitral valve stenosis, driving its market demand.

Transfemoral delivery systems, which hold a significant share of the transcatheter heart valve replacement market, have gained popularity due to their multifaceted advantages, including the option for a fully percutaneous procedure. This approach, performed under mild anesthesia, is attractive to patients as it helps reduce symptoms such as chest pain and shortness of breath associated with aortic valve stenosis.

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Competitive Analysis
Key players in the transcatheter heart valve replacement market, such as Braile Biomedica, Edwards Lifesciences Corporation, and Cook Medical Inc., are focusing on mergers and acquisitions to strengthen their market positions. These companies are also investing in strategic relationships with rivals in other areas and adapting to evolving market trends, such as heart attack diagnostics and heart monitoring devices.

In September 2022, Edwards Lifesciences introduced the Sapien 3 Ultra Resilia Valve, following FDA clearance. This innovation marks the first dry-storage transcatheter heart valve available in the United States.
In January 2022, Medtronic received approval for the Evolut PRO TAVR System in China for treating severe aortic stenosis. As China's population ages, the prevalence of this condition is expected to increase, driving demand for advanced treatment options.

Key Segments of Transcatheter Heart Valve Replacement Market Research

By Product :
Transcatheter Aortic Valve Replacement (TAVR)
Self-expandable Transcatheter Aortic Valves
Balloon-Expandable Transcatheter Aortic Valves
Mechanically Expanded Transcatheter Aortic Valves
Transcatheter Mitral Valve Repair
By Indication :
Severe Aortic Valve Stenosis
Valve-in-Valve Procedures (Failed Bioprosthesis)
Aortic Regurgitation
By End User :
Independent Cardiac Catheterization Labs
Ambulatory Surgical Centers
By Region :
North America
Latin America
East Asia
South Asia & Oceania
Middle East & Africa

๐†๐ž๐ญ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐š๐ญ๐ข๐จ๐ง ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐Ÿ๐จ๐ซ ๐’๐ฉ๐ž๐œ๐ข๐Ÿ๐ข๐œ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐’๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ:


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