Global Transcatheter Aortic Valve Replacement (TAVR) Market - 2022-2029

Market Overview

Transcatheter Aortic Valve Replacement (TAVR) Market is expected to grow at a CAGR 7.11% during the forecasting period (2022-2029).

Transcatheter Aortic Valve Replacement (TAVR), also known as Transcatheter Aortic Valve Implantation (TAVI), is a minimally invasive surgical procedure that restores the valve without removing the damaged or old valve. As an alternative, the procedure segments an extra valve to replace the aortic valve. The valve replacement method necessitates open-heart surgery with a sternotomy, in which the chest is divided during the surgical process. TAVR operations, on the other hand, can be conducted with minimal incisions that leave all of the chest bones in situ.

Market Dynamics

The global transcatheter aortic valve replacement (TAVR) market is driven by several growth factors, such as the rising prevalence of cardiovascular disorders such as heart failure (HF), coronary artery diseases (CAD), and hypertension.

Increasing clinical trials for transcatheter aortic valve replacement (TAVR) products are expected to drive market growth.

In August 2022, Edwards Lifesciences conducted a study to establish the safety and effectiveness of the Edwards SAPIEN X4 Transcatheter Heart Valve (THV) in subjects with symptomatic, severe, calcific aortic stenosis (AS). Moreover, JenaValve Technology, Inc., on May 22, 2020, conducted a study examining the use of TAVR (Transcatheter Aortic Valve Replacement), a minimally invasive procedure designed to replace the aortic valve inside the heart. TAVR will be performed using the JenaValve Pericardial TAVR System, which is intended to help treat symptomatic severe aortic regurgitation.

In addition, there have been significant engineering breakthroughs in designing THVs and the delivery system since the initial TAVR. The original SAPIEN valve required a 22-24 French (Fr) sheath, which has been reduced to 14-16 Fr for the SAPIEN 3 and 14 Fr for the Evolut Pro Plus. As a result, the number of vascular problems associated with the treatment has decreased dramatically, and the proportion of cases that can be performed with the transfemoral technique has increased. For instance, valve design has been repeated consecutively over three generations of the balloon-expandable SAPIEN system (Edwards Lifesciences, CA, USA) and the self-expandable CoreValve-Evolut system (Medtronic, CA, USA) to improve hemodynamics and function. The height of the external polyethylene terephthalate (PET) skirt of the latest SAPIEN 3, the Ultra, has been increased by 40% to reduce PVL. Furthermore, the mechanically-expandable Lotus Edge valve (Boston Scientific, Malborough, MA, USA), which is fully recapturable and repositionable with high radial strength, has been proposed to offer a theoretical advantage in very heavily calcified anatomy, but this is yet to be definitively demonstrated. Thus, from the above statements, the market is expected to drive in the forecast period.

Restraint:

The high cost associated with the procedure, the lack of skilled professionals and stringent regulatory approval for transcatheter products are the factors that the market is expected to be hampered in the forecast period.

Industry Analysis

The transcatheter aortic valve replacement (TAVR) market provides in-depth analysis of the market based on various industry factors such as porter five forces, supply chain, pricing analysis etc.

COVID-19 Impact Analysis

Transcatheter aortic valve replacement (TAVR) has become the preferred treatment for elderly individuals with symptomatic severe aortic stenosis (AS). Untreated, symptomatic AS is fatal, with significant 1-year mortality rates. The pandemic of Coronavirus disease-2019 (COVID-19) has prompted resource reallocations. Dedicated COVID-19 wards and intensive care units (ICU) prioritized COVID-19 care, while elective healthcare was postponed. Moreover, cardiology societies published statements favoring telehealth and less-invasive catheter-based treatment options over traditional heart surgery to restrict ICU stay and accelerate early discharge. COVID-19 restrictions delayed the diagnosis of severe AS due to increased thresholds for outpatient echocardiography, delayed referrals for aortic valve replacement (AVR), and longer AVR waiting lists.

In contrast, as the proportion of Covid-19 cases declined over time, the number of procedures increased, allowing the transcatheter aortic valve implantation (TAVI) device market to recover. Despite the pandemic, device manufacturers in this industry continue to produce new products. For instance, Boston Scientific announced on 28th September that the Accurate neo2 aortic valve system was accessible in Europe. The ability of Boston Scientific to deploy this device to European markets amid the Covid-19 outbreak proves the market's sturdiness. Before the pandemic, the number of TAVR procedures was fast increasing, and this tendency is unlikely to have halted due to Covid-19. Therefore, from the above statements, the pandemic has moderately affected the market. However, the situation is expected to improve gradually in the forecast period.

Segment Analysis

Transfemoral (TF) Implantation segment is expected to hold the largest market share in transcatheter aortic valve replacement (TAVR) market.

The transfemoral (TF) implantation segment accounted for the largest market share in 2021. The segment benefits because transfemoral implantation is a standardized and uniform process in which a prosthetic valve is implanted through the femoral blood vessel with a less invasive procedure and negligible anesthesia. The transfemoral implantation procedure is the most prevalent catheter-based treatment, accounting for more than 80% of all transcatheter valve replacement (TAVR) cases worldwide. For instance, Boston Scientific Corporation's ACURATE Neo AS Aortic Bioprosthesis for implantation using the ACURATE neo AS TF transfemoral delivery system is used in patients with severe aortic stenosis. Therefore, it has increased the adoption of transfemoral (TF) implantation procedures. Thus, the market segment accounted for the largest market share in the forecast period.

Geographical Analysis

Europe region holds the largest market share in the global transcatheter aortic valve replacement (TAVR) market

In 2021, Europe, countries such as France, Germany, and Italy accounted for the highest revenue share in the global market. The rising aortic valve procedures, technological advancements in the devices, product launches, and approvals by the market players are the factors to drive the market in the forecast period. For instance, on August 28, 2022, a revolutionary artificial intelligence (AI) algorithm identified aortic stenosis patients at high risk of mortality who could benefit from treatment using routine echocardiograms. The groundbreaking research was presented today at the ESC Congress 2022 hotline session. AI-ENHANCED AS examined whether an AI algorithm developed from echocardiographic parameters routinely used in clinical practice could identify moderate-to-severe and severe aortic stenosis phenotypes associated with increasing five-year mortality. Therefore, technological advancement in the devices has accounted for the largest market share in Europe, from the above factors.

Competitive Landscape

Major key players in the transcatheter aortic valve replacement (TAVR) market are St. Jude Medical, Inc., Medtronic plc, Boston Scientific Corporation, Edwards Lifesciences Corporation, HLT, Inc., JenaValve Technology, Inc., Direct Flow medical, Inc., Meril Life Sciences Pvt. Ltd., Transcatheter Technologies GmbH, SYMETIS SA.

Medtronic Plc:

Overview:

Medtronic plc is an American-Irish registered medical device company primarily operating in the United States. It has an operational and executive headquarters in Fridley, Minnesota, in the US. Moreover, it develops and manufactures devices and therapies to treat more than 30 chronic diseases, including heart failure, Parkinson's disease, urinary incontinence, Down syndrome, obesity, chronic pain, spinal disorders, and diabetes. It is operated in 140 countries and employs over 104,950 people.

Product Portfolio:

Evolut R valve: The Medtronic Evolut R (EVR) is a novel transcatheter heart valve designed to allow precise implantation at the intended position and to minimize prosthesis dysfunction as well as procedural complications.

Key Development:

• According to Medtronic, the FDA approved the Next-Gen TAVR System for Treatment of Symptomatic Severe Aortic Stenosis on August 24, 2021. It is intended to improve the simplicity of use while providing more precision and control throughout the procedure.

The global transcatheter aortic valve replacement (TAVR) market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.