Transcatheter Aortic Valve Replacement/Implantation - Market Insights, Competitive Landscape, and Market Forecast - 2030

Transcatheter Aortic Valve Replacement (TAVR) Devices Market by Material [Valve Frame Material (Nitinol, Stainless Steel, Cobalt Chromium, and Others), and Valve Leaflet Material (Porcine, Bovine and, Others)], Procedure (Transfemoral, Transapical and Transaortic Approach), Application (Aortic Stenosis, Aortic Regurgitation, and Others), End-User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to advance at a substantial CAGR forecast till 2030 owing to the increasing instances of chronic disorders and increasing product developmental activities worldwide

The transcatheter aortic valve replacement devices market was valued at USD 2.80 billion in 2023, growing at a CAGR of 15.41% during the forecast period from 2024 to 2030 to reach USD 6.60 billion by 2030. The transcatheter aortic valve replacement devices market is experiencing significant growth due to the increasing instances of chronic disorders such as aortic valve stenotic disease, aortic regurgitation, and mitral regurgitation, increasing product developmental activities including product launches, rising geriatric population, and others that are acting as major factors driving the substantial demand for transcatheter aortic valve replacement devices market from 2024 to 2030.

Transcatheter Aortic Valve Replacement Devices Market Dynamics:

The National Institute of Health (2022), stated that aortic valve stenotic disease was the most commonly occurring valvar pathology in developed nations, affecting 9 million people worldwide on an average, and its prevalence was increasing with aging population and the rise of atherosclerosis. Aortic regurgitation was associated with diastolic, but not systolic, hypertension, and it similarly saw an increase in developed countries. Mitral regurgitation affected 24 million people globally, with significant variability between and among nations.

TAVR devices are crucial in treating prevalent valvar diseases, especially aortic stenosis. As these conditions are often linked with aging and related health issues, TAVR offers a minimally invasive solution for high-risk patients who may not tolerate traditional surgery. By enabling effective valve replacement with shorter recovery times, TAVR addresses the growing need for accessible, advanced treatments for aortic and related valve pathologies in the face of an aging population and rising atherosclerosis rates.

Various product developmental strategies by the market key players such as introduction of new and innovative products are likely to push forward the revenue shares for the same. For example, in February 2024, Edwards Lifesciences Corporation announced launch of the Sapien 3 Ultra Resilia valve in Europe.

Hence, the interplay of all the above-mentioned factors is expected to drive the transcatheter aortic valve replacement devices market during the given forecast period from 2024 to 2030.

However, side effects such as bleeding, hematoma, or vascular injury, availability of alternative options, among others may restrict the market growth for the transcatheter aortic valve replacement devices market.

Transcatheter Aortic Valve Replacement Devices Market Segment Analysis:

Transcatheter Aortic Valve Replacement Devices Market by Material [Valve Frame Material (Nitinol, Stainless Steel, Cobalt Chromium, and Others), and Valve Leaflet Material (Porcine, Bovine and, Others)], Procedure (Transfemoral, Transapical and Transaortic Approach), Application (Aortic Stenosis, Aortic Regurgitation, and Others), End-User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the procedure segment of the transcatheter aortic valve replacement devices market, the transfemoral category is expected to have a significant revenue share in the year 2023. The rapid growth of the transfemoral procedure for transcatheter aortic valve replacement is due to its widely utilized approach that offers several distinctive features and benefits, making it a preferred option for many patients with aortic valve stenosis.

One of the primary features of this technique is its minimally invasive nature, as it involves accessing the aorta through the femoral artery in the groin, which typically results in a smaller incision and less surgical trauma. This approach leads to significant benefits, including a shorter recovery time.

Additionally, advancements in imaging and device technology have improved the precision of valve placement during the procedure, leading to better overall results. The transfemoral approach is also beneficial for patients with favorable femoral artery anatomy, as it allows for straightforward access without the need for complex surgical interventions.

Therefore, owing to the above-mentioned factors, the demand for the transfemoral category upsurges, thereby the category is expected to witness considerable growth eventually contributing to the overall growth of the transcatheter aortic valve replacement devices market during the forecast period from 2024 to 2030.

North America is expected to dominate the overall transcatheter aortic valve replacement devices market:

Among all the regions, North America is estimated to hold a significant revenue share in the transcatheter aortic valve replacement devices market. This is driven by the growing burden of aortic stenosis, regulatory support, prompt and well-established healthcare services and infrastructure, presence of key players, and other that are anticipated to significantly propel market growth for transcatheter aortic valve replacement devices in North America from 2024 to 2030.

According to data from the American Heart Association (2024), it stated that more that 20% of older Americans currently suffers from aortic stenosis. Same source further stated that it is more common in people of age 60 and above. Transcatheter aortic valve replacement devices are widely used to treat older individuals suffering from aortic stenosis. These offers minimally invasive alternative to traditional open-heart surgery. By replacing the narrowed aortic valve through a catheter-based procedure, this improves blood flow and heart function, helping these patients regain quality of life with reduced recovery time and fewer complications.

Various product developmental strategies such as clearances by the regulatory authorities in the region play a major role in pushing forward the revenue shares of transcatheter aortic valve replacement devices in the region. For example, in September 2021, Abbott announced that Food and Drug Administration approved the company's Portico(TM) with FlexNav(TM) transcatheter aortic valve replacement (TAVR) system to treat people with symptomatic, severe aortic stenosis who are at high or extreme risk for open-heart surgery.

The prompt and well-established healthcare services and infrastructure further contribute to the growth of the regional transcatheter aortic valve replacement devices market. The presence of key players such as Medtronic, Boston Scientific Corporation, and Abbott with their strong distribution networks ensure widespread availability and accessibility of these devices across the region increasing their revenue shares in the market, and supportive reimbursement programs providing immense growth opportunities for the same.

Therefore, the interplay of all the factors mentioned above would provide a conducive growth environment for the North America region in the transcatheter aortic valve replacement devices market during the forecast period from 2024 to 2030.

Transcatheter Aortic Valve Replacement Devices Market key players:

Some of the key market players operating in the transcatheter aortic valve replacement devices market include Medtronic, Edwards Lifesciences Corporation, Boston Scientific Corporation, Meril Life Sciences, Abbott, JenaValve Technology, Inc., Bracco SpA, CryoLife, Inc., Braile Biomedica, Venus Medtech, Transcatheter Technologies Gmbh, Thubrikar Aortic Valve, Blue Sail Medical Co. Ltd., JC Medical Inc., Cook, Sysmetis SA, SMT Pvt Ltd., LivaNova, Peijia Medical, P+F Products + Features GmbH, and others.

Recent Developmental Activities in the Transcatheter Aortic Valve Replacement Devices Market:

• In August 2024, Boston Scientific Corporation announced that it secured CE mark for the ACURATE Prime(TM) Aortic Valve System, the newest transcatheter aortic valve replacement (TAVR) technology.
• In August 2021, Medtronic, announced the U.S. Food and Drug Administration approval of its newest-generation, self-expanding transcatheter aortic valve replacement (TAVR) system, the Evolut(TM) FX TAVR system.
• In May 2021, Abbott announced that it received CE Mark for its latest-generation transcatheter aortic valve implantation (TAVI) system, Navitor(TM), making the minimally invasive device available for people in Europe with severe aortic stenosis who are at high or extreme surgical risk.

Key takeaways from the Transcatheter Aortic Valve Replacement Devices market report study

• Market size analysis for current transcatheter aortic valve replacement devices market size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/services developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the transcatheter aortic valve replacement devices market
• Various opportunities available for the other competitors in the transcatheter aortic valve replacement devices market space
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current transcatheter aortic valve replacement devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for transcatheter aortic valve replacement devices market growth in the coming future?

Target audience who can be benefited from this Transcatheter Aortic Valve Replacement Devices market report study

• Transcatheter aortic valve replacement devices device providers
• Research organizations and consulting companies
• Transcatheter aortic valve replacement devices related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in transcatheter aortic valve replacement devices
• Various end-users who want to know more about the transcatheter aortic valve replacement devices market and the latest developments in the transcatheter aortic valve replacement devices market

Frequently Asked Questions for the Transcatheter Aortic Valve Replacement Devices Market:

1. What are Transcatheter Aortic Valve Replacement Devices?

• The transcatheter aortic valve replacement is a procedure wherein the diseased valve is replaced by an artificial, man-made valve. There are a number of man-made transcatheter aortic valves that are used while performing TAVR procedures. These include SAPIEN 3, SAPIEN 3 Ultra, Evolut PRO+, and LOTUS Edge.

2. What is the market for Transcatheter Aortic Valve Replacement Devices?

• The transcatheter aortic valve replacement devices market was valued at USD 2.80 billion in 2023, growing at a CAGR of 15.41% during the forecast period from 2024 to 2030 to reach USD 6.60 billion by 2030.

3. What are the drivers for the Transcatheter Aortic Valve Replacement Devices market?

• The transcatheter aortic valve replacement devices market is experiencing significant growth due to the increasing instances of chronic disorders such as aortic valve stenotic disease, aortic regurgitation, and mitral regurgitation, increasing product developmental activities including product launches, rising geriatric population, and others that are acting as major factors driving the substantial demand for transcatheter aortic valve replacement devices market from 2024 to 2030.

4. Who are the key players operating in the Transcatheter Aortic Valve Replacement Devices market?

• Some of the major market key players operating in the transcatheter aortic valve replacement devices market include Medtronic, Edwards Lifesciences Corporation, Boston Scientific Corporation, Meril Life Sciences, Abbott, JenaValve Technology, Inc., Bracco SpA, CryoLife, Inc., Braile Biomedica, Venus Medtech, Transcatheter Technologies Gmbh, Thubrikar Aortic Valve, Blue Sail Medical Co. Ltd., JC Medical Inc., Cook, Sysmetis SA, SMT Pvt Ltd., LivaNova, Peijia Medical, P+F Products + Features GmbH, and others.

5. Which region has the highest share in the Transcatheter Aortic Valve Replacement Devices market?

• Among all the regions, North America is estimated to hold a significant revenue share in the transcatheter aortic valve replacement devices market. This is driven by the growing burden of aortic stenosis, regulatory support, prompt and well-established healthcare services and infrastructure, presence of key players, and other that are anticipated to significantly propel market growth for transcatheter aortic valve replacement devices in North America from 2024 to 2030.