Transcatheter Aortic Valve Replacement (TAVR) Market | 2023-2028

Market Insights

The transcatheter aortic valve replacement (TAVR) market was estimated at USD 7.04 billion in 2022 and is likely to grow at a CAGR of 21.19% during 2023-2028 to reach USD 22.72 billion in 2028.

Market Dynamics

Introduction

A Transcatheter aortic valve replacement (TAVR), also known as Transcatheter aortic valve implantation (TAVI) is a minimally invasive surgical process that treats the aortic valve by substituting a new biological valve into the old aortic valve’s place without removing the damaged valve. The TAVR method, which is relatively like a stent placed in an artery, is carried out by inserting a fully collapsible replacement valve into the aortic valve site with the help of a catheter.

COVID-19 Impact 

There has been a more than 50% drop in the number of cardiovascular patients and those diagnosed with myocardial infection post-COVID-19 period thus affecting the TAVR demand. However, the patients who were previously accepted for Surgical Aortic Valve Replacement (SAVR) are now being reconsidered for TAVR which, holds some advantages such as a shorter hospital stay and a reduced need for intensive treatment unit or mechanical ventilation, thus positively influencing the market growth.

Market Drivers

A growing number of patients worldwide suffering from cardiovascular diseases such as coronary artery diseases, heart failure, and hypertension is a prime factor bolstering thetranscatheter aortic valve replacement (TAVR) market growth.

• Cardiovascular diseases result in improper functioning of aortic valves, which, in turn, accelerates the demand for efficient valve replacement procedures.
• Also, the rising adoption of TAVR in developing countries offers ample opportunities to industry participants.
• However, high risk during surgery and high cost are restraining factors hampering the product demand.

Key Players

Key players operating in the transcatheter aortic valve replacement (TAVR) market are-

• Medtronic plc (Ireland),
• Boston Scientific Corporation (The U.S),
• Meril Life Sciences Pvt. Ltd., Inc. (India),
• Edwards Lifesciences Corporation (The U.S),
• St. Jude Medical, Inc. (The U.S),
• JenaValve Technology, Inc. (The U.S),
• Bracco SpA (Italy),
• Transcatheter Technologies GmbH (Germany),
• Abbott (The U.S), and
• Symetis SA (Switzerland).

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at [email protected]

Segments Analysis

By Procedure Type

"Transfemoral implantation dominated the market in 2022 and is likely to register a steady CAGR in the coming years"

• The market has been segmented into transfemoral, transapical, transaortic, and others.
• Under these, transfemoral implantation dominated the market in 2022 and is likely to register a steady CAGR in the coming years.
• This is mainly attributed to advanced technology such as vascular closure systems.
• This implantation is minimally invasive, enabling faster recovery, thus reducing the overall length of hospital stay, and thus driving the segment growth.

Regional Analysis

"The North American market witnessed the largest market share in 2022"

• The North American market witnessed the largest market share in 2022 and is projected to grow at a significant CAGR during the review period.
• This is majorly attributed to mergers & acquisitions, high adoption of technologically advanced products, and favorable reimbursement policies.
• For instance, reimbursement from government groups such as the Centers for Medicare & Medicaid Services (CMS) helps patients to opt for transcatheter aortic valve replacement procedures.

Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s functional transcatheter aortic valve replacement (TAVR) market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The transcatheter aortic valve replacement (TAVR) market is segmented into the following categories:

By Procedure Type

• Transfemoral Implantation
• Transapical Implantation
• Transaortic Implantation
• Others

By End-Use Type

• Hospitals
• Ambulatory Surgical Centers
• Cardiac Catheterization Laboratories

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]