Transcatheter Heart Valve Market

Global Transcatheter Heart Valve Market Size (2024 to 2029)

The size of the global transcatheter heart valve market is expected to be valued at USD 6.43 billion by 2029 from USD 3.27 billion in 2024, growing at a CAGR of 14.44% from 2024 to 2029.

MARKET DRIVERS

The growing prevalence of valvular heart disorders, such as aortic stenosis and mitral regurgitation primarily drives the growth of the transcatheter heart valve market. These problems are more common in the elderly and are linked to age-related degenerative changes in the heart valves. According to the American Heart Association, around 2.5% of adults aged 75 and up have moderate or severe aortic stenosis. Transcatheter heart valve interventions are projected to become more popular as the world's population ages. According to the World Health Organisation, the worldwide population of people aged 60 and up will exceed 2 billion by 2050, increasing the burden of age-related disorders such as valvular heart disease.

The shift towards minimally invasive procedures in the field of cardiac surgery contributes to the growth of the transcatheter heart valve market. Transcatheter heart valve procedures provide significant advantages over open-heart surgery, including smaller incisions, less surgical trauma, shorter hospital stays, and quicker recovery. As a result, people and healthcare providers are increasingly favouring minimally invasive therapies. This shift in treatment approach is driving the demand for transcatheter heart valve devices.

Technological advancements in designing and manufacturing transcatheter heart valves further boost the growth rate of the market. Transcatheter heart valve treatments have become safer and more effective as advancements in valve materials, delivery methods, and imaging technologies have increased their applicability to a broader patient group. Self-expanding transcatheter heart valves, such as Medtronic's CoreValve and Edwards Lifesciences' SAPIEN 3, have improved results and increased patient treatment options.

MARKET RESTRAINTS

The high cost associated with transcatheter heart valve procedures primarily hampers the market growth. Compared to traditional surgery, transcatheter heart valve interventions can be more expensive. The high cost is mostly because the process needs expensive devices, specialised equipment, and skilled medical professionals. Transcatheter heart valve interventions can be hard to pay for, especially in developing countries with limited health care funds and poor reimbursement policies. In some places, these procedures may not be covered by insurance, or the coverage may be limited or unclear. This can make it hard for patients and healthcare providers to pay for these procedures.

The shortage of skilled and experienced healthcare professionals to perform transcatheter heart valve procedures further hinders the market growth. These complex interventions require specialised training and expertise, which may limit the availability of such procedures. Although transcatheter heart valve interventions are usually thought to be safe and effective, there are risks that come with the procedure and things that could go wrong. These can include the wrong placement of the device, an embolus, a leak in the paravalvular area, problems with the blood vessels, and the need to do the operation again. Complications like these can affect patient health, raise healthcare costs, and make healthcare workers less likely to use transcatheter heart valve technologies.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Transcatheter Heart Valve Market Analysis By Product and Services

Based on product and services, the TAVR segment is anticipated to account for the major share of the global market during the forecast period. The TAVR market is expanding rapidly because of the increasing prevalence of aortic valve disorders.

On the other hand, the TMVR segment is expected to grow at the fastest CAGR over the forecast period owing to the increase in the usage of TMVR for the treatment of aortic stenosis. It entails employing transcatheter procedures to repair or replace the mitral valve. The growing prevalence of mitral valve disorders, increased use of minimally invasive procedures, and developments in device technology propel the growth of the TMVR segment.

Global Transcatheter Heart Valve Market Analysis By Delivery Systems

Based on the delivery systems, the transfemoral approach segment is estimated to hold the leading share of the worldwide market during the forecast period. The rapid adoption of minimally invasive procedures in cardiac interventions that leads to the preference for transfemoral approach for transcatheter heart valve replacement is one of the major factors propelling the growth of the transfemoral approach segment in the global market. Advancements in delivery systems and catheter technologies, growing geriatric population and rising prevalence of valvular heart diseases further boost the growth rate of the transfemoral approach segment in the market.

The transapical approach segment is anticipated to register a healthy CAGR during the forecast period owing to the growing prevalence of aortic valve diseases and mitral valve diseases in patients with complex anatomies that drive the use of transapical approach for transcatheter valve procedures.

Global Transcatheter Heart Valve Market Analysis By End User

Based on end user, the hospital segment is predicted to account for the leading share of the global market during the forecast period owing to the growing patient population suffering from cardiovascular diseases, increasing geriatric population and rising number of people undergoing transcatheter heart valve procedures in hospitals. Advancements in transcatheter heart valve technologies and procedural techniques and reimbursement support for transcatheter heart valve procedures in many countries further boost the growth rate of the hospital segment in the global market.

The ambulatory surgical centers segment is anticipated to witness a healthy CAGR in the coming years owing to the rising trend towards outpatient care and minimally invasive procedures, advancements in medical devices and delivery systems and growing number of initiatives from the governments of various countries to reduce healthcare costs and shift patients from inpatient to outpatient settings.

REGIONAL ANALYSIS 

North America dominates the transcatheter heart valve market and is expected to grow significantly over the forecast period. Factors such as the high incidence of valvular heart diseases, such as aortic stenosis and mitral regurgitation, favorable reimbursement policies for transcatheter heart valve procedures, strong presence of key market players and continuous investments in research and development drive the growth of the transcatheter heart valve market in North America. The U.S. is predicted to hold the leading share of the North American market during the forecast period owing to the well-established healthcare infrastructure, a high prevalence of cardiovascular diseases, strong adoption of innovative medical technologies and early adoption and widespread use of transcatheter heart valves in various clinical settings.

Europe had a substantial share of the worldwide market in 2022 and is expected to grow at a prominent CAGR in the coming years owing to the growing awareness about the benefits of transcatheter heart valve procedures and an increasing preference for minimally invasive treatment options among patients and physicians. Collaborations between medical device companies and research institutes and supportive regulatory environment and timely approvals for new transcatheter heart valve devices propel the growth of the European market. Germany followed by France and the UK are anticipated to hold the major share of the European market in the coming years due to the presence of advanced healthcare systems and high patient awareness.

On the other hand, Asia Pacific is expected to grow at the highest CAGR over the forecast period. The growing need for novel heart valve therapeutic devices, a rapidly growing healthcare sector, an aging population, and rising healthcare expenditure boost the growth of the APAC transcatheter heart valve market. For instance, favourable government efforts and reimbursement schemes such as Aarogyasri and Jeevandayee Arogya Yojana in several Indian states provide coverage for transcatheter heart therapies. The growing healthcare expenditure, healthcare reforms, and investments in medical technology and increasing partnerships and collaborations between international medical device companies and local players further fuel the growth rate of the APAC market.

KEY PLAYERS IN THE GLOBAL TRANSCATHETER HEART VALVE MARKET

Edwards Lifesciences Corporation, Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, LivaNova PLC, JenaValve Technology, Inc., Venus Medtech (Hangzhou) Inc., Meril Life Sciences Pvt. Ltd., CryoLife, Inc. and MicroPort Scientific Corporation are a few of the notable companies in the global transcatheter heart valve market.

RECENT HAPPENINGS IN THE MARKET

• In May 2023, JenaValve Technology, Inc., a developer and manufacturer of transcatheter aortic valve replacement (TAVR) systems, announced the completion of the first two Trilogy Heart Valve System implantations in Asia. Dr Michael Lee and his team completed the two procedures in around 25 minutes at Hong Kong's Queen Elizabeth Hospital. Both cases significantly improved hemodynamics immediately following the operation.
• In June 2023, Anteris Technologies Ltd claims that new data from its first-in-human DurAVR transcatheter heart valve trial offers the greatest 30-day results to date, giving it a boost as it develops treatments for younger and more active aortic stenosis patients. The findings show that the DurAVR valve maintained outstanding haemodynamic function at 30 days and that preliminary findings indicate 100% implant success (with no device-related problems).

DETAILED SEGMENTATION OF THE GLOBAL TRANSCATHETER HEART VALVE MARKET INCLUDED IN THIS REPORT

This research report on the global transcatheter heart valve market has been segmented and sub-segmented based on the following categories.

By Product and Services

• TAVR

• TMVR

By Delivery Systems

• Transfemoral Approach

• Transapical Approach

• Transaortic Approach

By End User

• Hospitals
• Ambulatory Surgical Centers
• Cardiac Catheterization Laboratory
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa