Global Transcatheter Aortic Valve Replacement Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The U.S. FDA authorized the Epic Plus and Epic Plus Supra Stented Tissue Valves by Abbott Laboratories, Inc to expand therapy alternatives for patients with AS disease

The Global Transcatheter Aortic Valve Replacement Market is estimated to be USD 7.53 Bn in 2023 and is expected to reach USD 15.88 Bn by 2028 growing at a CAGR of 16.1%.

A minimally invasive treatment called transcatheter aortic valve replacement (TAVR) is used to treat aortic stenosis, a condition in which the aortic valve in the heart narrows and causes reduced blood flow. Via the use of a catheter introduced into a chest or groin artery, the damaged valve is replaced with a new one during the surgery. Open cardiac surgery is not necessary because the replacement valve is enlarged and deployed over the old valve during the TAVR procedure. In comparison to conventional open-heart surgery, this method offers patients several advantages, including shorter hospital stays, quicker recoveries, and a lesser chance of problems.

The market is driven by the growing number of valvular diseases like aortic stenosis and aortic regurgitation. Also, a rise in the acceptance rate of TAVI therapies, the approval of new devices, and more clinical proof of efficacy are driving the market. It is expanding because of advancing technology, rising interest in minimally invasive catheter-based procedures, and patients looking for quick recovery from treatment. Cardiovascular diseases lead to transcatheter aortic valve replacement ICD 10, which raises the need for a successful valve replacement procedure. As a result, the market trends for TAVR are spreading as aortic stenosis becomes more widespread.

TAVI market growth is hampered by stringent government regulations for licensing transcatheter aortic valves, which are class III medical devices, and the high cost associated with TAVI. Also, the poor installation of the heart valve in healthcare institutions is a result of the expensive cost of transcatheter heart valve devices in emerging and disadvantaged countries. The growth of the market will be challenged by the absence of skilled specialists in some areas of developing nations and by people's ignorance of the most recent technological advancements. However, the market's growth is constrained by exorbitant prices and a dearth of reimbursement.

However, the market has an opportunity due to an increased preference for minimally invasive procedures. Transcatheter valve replacement surgery's key advantage is that it may be done with very small incisions, protecting all the chest bones. This course of treatment can also help patients who have not been given the option of a valve replacement procedure. These methods require a shorter hospital stay for the patients than surgical valve replacement.

Market Segmentations

• The Global Transcatheter Aortic Valve Replacement Market is segmented based on Implantation Procedure, Material, Mechanism, End-User, and Geography.
• By Implantation Procedure, the market is classified into Transfemoral, Transapical, Transaortic, and Subclavian Procedure.
• The Transfemoral segment dominated the market. In contrast to surgical aortic valve replacement (SAVR), the transfemoral approach has grown in popularity among patients because of its ease of use, ability to allow for early mobility, availability of awake procedures, quick turnaround times, and less need for incisions.
• By Material, the market is classified into Nitinol, Cobalt Chromium, Stainless Steel, And Others.
• The Nitinol segment dominated the market with revenue share. Nickel and titanium are almost equally distributed in the alloy known as titanium. Additionally, due to its unique qualities, which include its lack of magnetism, biocompatibility, flexibility, and fatigue resistance, it is frequently used in the majority of TAVR devices. This enables medical devices in minimally invasive surgeries and implants to provide improved outcomes, thereby boosting segment growth.
• By Mechanism, the market is classified into Balloon-Expanding Valve And Self-Expanding Valves.
• The Balloon-Expanding Valve segment accounted for the largest market share. The balloon-expanding valve is the type of TAVR that is utilized the most frequently. It makes it simpler to access the coronary arteries since they are non-repositionable, intra-annular, and have a reduced stent frame profile. A horizontal aorta (aortic angulation >60°), for example, makes it easier to implant a valve in patients with difficult vascular architecture since the delivery mechanism is more steerable than the self-expanding device. Also, the segment's expansion is being fueled by new product launches.
• By End-User, the market is classified into Hospitals and Surgical Centers, Ambulatory Care Centers, and Other End Users.
• The Hospitals accounted for the largest market share due to rising AS and increased TAVR procedures. The American College of Cardiology Foundation reports that in U.S. hospitals in 2019, there were 72,991 TAVR procedures carried out. Also, the segment is growing because of technological developments in TAVR products and systems, improved healthcare infrastructure, and advantageous reimbursement scenarios in both developed and developing nations.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
• Europe dominates the transcatheter aortic valve replacement (TAVR) market because of the rise in the prevalence of aortic stenosis and the presence of good healthcare infrastructure within the region. Due to the presence of important players, a strong healthcare industry, and improvements in TAVI valve technology in the area. The rise in high-risk patients, the prevalence of severe aortic stenosis cases, and increased patient and physician awareness of the availability of cutting-edge transcatheter aortic valves are all factors contributing to the expansion of the European TAVI market. The key to growing the use of TAVI procedures in this region is also advantageous payment regulations in some European countries.

Recent Development

• Abbott Laboratories received a U.S. Food and Drug Administration Approval for Navitor. The Navitor is the company’s latest generation transcatheter aortic valve implantation (TAVI) system. This TAVI System is used to treat people with extreme aortic stenosis who are at increased risk for open-heart surgery. - January 2023
• Edwards Lifesciences Corp. launched SAPIEN 3 Ultra RESILIA valve. The SAPIEN 3 Ultra RESILIA Transcatheter Heart Valve system is meant for the comfort of aortic stenosis in patients with symptomatic heart disease due to extreme native calcific aortic stenosis. - September 2022
• Medtronic PLC launched the Evolut FX TAVR system. The new Evolut FX TAVR system is the newest-generation, self-expanding transcatheter aortic valve replacement (TAVR) system. - September 2022

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are 4C Medical Technologies, Abbott Laboratories, Boston Scientific., Bracco, Braile Biomedica, CryoLife, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
• The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Transcatheter Aortic Valve Replacement Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Transcatheter Aortic Valve Replacement Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Transcatheter Aortic Valve Replacement Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
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Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market