The global transcatheter aortic valve replacement market size was estimated to be USD 6.16 billion in 2023 and is expected to reach at USD 14.13 billion by 2034 with a CAGR of 7.84% during the forecast period 2024-2034. Growing prevalence of aortic valve stenosis (AS), surge in demand for minimal-invasive procedures, rising geriatric population, increasing demand for heart disease diagnostics & treatment, growing technological developments in TAVR procedures, surge in research & development activities, and rising approvals of advanced transcatheter aortic valve replacement products by regulatory bodies are some of the key factors boosting the market growth.
Rising approvals of advanced transcatheter aortic valve replacement products by regulatory bodies is predicted to boost the market growth during the forecast period. Ongoing advancements in Transcatheter Aortic Valve Replacement (TAVR) technology have led to enhanced patient results, making it a less invasive procedure. Hence, Patients and healthcare professionals are increasingly seeking state-of-the-art products that guarantee the safety and effectiveness of medical procedures. For instance, in September 2022, OpSens Inc., a cardiology-focused medical device company that develops creative solutions utilizing its exclusive optical technology, has reported the receipt of 510(k) regulatory clearance from the U.S. Food & Drug Administration (FDA) for its new SavvyWire guidewire designed for transcatheter aortic valve replacement (TAVR) procedures.
By procedure, transfemoral was the highest revenue-grossing segment in the global transcatheter aortic valve replacement market in 2023 owing to its ease of use, early mobility ability, accessibility to awake operations, fast-track protocols, and minimizing of surgical incisions, rising preference for transfemoral approach over surgical aortic valve replacement (SAVR), and increasing approvals by regulatory bodies. For instance, in August 2023, Genesis MedTech has revealed that its J-Valve™ Transfemoral (TF) System has received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA). This groundbreaking heart valve has been granted Breakthrough Device status for its intended use in treating severe native aortic regurgitation (AR) and AR-dominant mixed aortic valve disease in patients who, as determined by a heart team, are suitable candidates for the device and are at a high risk for traditional open surgical aortic valve replacement. Additionally, transapical is predicted to grow at fastest CAGR during the forecast period owing to the growing focus on development of innovative transapical devices and rising launch of advanced devices.
By material, nitinol was the highest revenue-grossing segment in the global transcatheter aortic valve replacement market in 2023 owing to the lack of magnetic properties, along with biocompatibility, flexibility, & resistance to fatigue, allows medical devices used in minimally invasive surgeries & implants to deliver enhanced results. Additionally, cobalt-chromium is predicted to grow at fastest CAGR during the forecast period owing to its increased radiopacity and durability when compared to steel stents, this alternative offers the advantage of having a finer mesh, reducing the risk of thrombosis, & its strong biocompatibility and surge in approvals by regulatory bodies. For instance, in September 2022, Edwards Lifesciences has received FDA clearance for its Sapien 3 transcatheter aortic valve, which incorporates materials that the company believes could serve as the foundation for future heart valve implants.
By mechanism, balloon-expanding valve was the highest revenue-grossing segment in the global transcatheter aortic valve replacement market in 2023 as it allows for simpler coronary access since it is non-repositionable, intra-annular, and has a reduced stent frame profile, rising adoption in TAVR procedures and surge in technological advancements. Additionally, self-expanding valve is predicted to grow at fastest CAGR during the forecast period owing to the increasing focus on product development and growing introduction of advanced devices. For instance, in September 2022, Medtronic plc has unveiled the broader availability of its latest self-expanding transcatheter aortic valve replacement (TAVR) system, the Evolut FX TAVR system, in the U.S. market. This new system, Evolut FX, introduces additional capabilities to the existing Evolut platform, improving ease of use and providing physicians with more predictable valve deployment.
By end-user, hospitals was the highest revenue-grossing segment in the global transcatheter aortic valve replacement market in 2023 owing to growing prevalence of AS, surge in number of TAVR procedures, increasing technological advancements in TAVR products & systems, and rising healthcare infrastructure. Additionally, ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to its cost-effectiveness, shorter hospital stays, cheaper fixed expenditures, & lower overhead and rising collaborations within market players. For instance, in June 2022, Atlas Healthcare Partners, a firm dedicated to creating and overseeing ambulatory surgery centers, has joined forces with MedAxiom, a company focused on enhancing cardiovascular organizational performance. Together, they are introducing a pioneering venture centered on cardiovascular-focused ambulatory surgery centers. The collaboration aims to enhance cardiovascular care by expanding the availability of top-notch, patient-centric cardiovascular treatments within ambulatory surgery centers.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing well-developed healthcare infrastructure, rising TAVR procedures, growing novel product launches, surge in prevalence of disorders such as AS & aortic regurgitation, and increasing research & development activities. For instance, For instance, in January 2022, Sahajanand Medical Technologies Limited has published a study in the Cardiovascular Interventions journal of the American College of Cardiology, presenting data on the CE-approved Hydra Transcatheter Aortic Heart Valve. The study assessed the safety and effectiveness of the Hydra transcatheter aortic heart valve over a period of 30 days and one year in treating symptomatic AS among cardiac patients with a significant or high surgical risk. According to the research, the Transcatheter Aortic Heart Valve with the Hydra valve demonstrated excellent efficiency after one year, with effective orifice area, minimal transvalvular gradient, and low rates of complications. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the surge in prevalence of aortic stenosis diseases, growing healthcare infrastructure, increasing awareness related to transcatheter aortic valve implantation, rising number of transfemoral TAVI procedures, and surge in launch of advanced devices. For instance, in December 2022, Abbott, a worldwide healthcare corporation, has introduced its most recent transcatheter aortic valve implantation (TAVI) system called Navitor, offering access to this minimally invasive device for individuals in India suffering from severe aortic stenosis and facing high or extreme surgical risk.
Rising approvals of advanced transcatheter aortic valve replacement products by regulatory bodies is predicted to boost the market growth during the forecast period. Ongoing advancements in Transcatheter Aortic Valve Replacement (TAVR) technology have led to enhanced patient results, making it a less invasive procedure. Hence, Patients and healthcare professionals are increasingly seeking state-of-the-art products that guarantee the safety and effectiveness of medical procedures. For instance, in September 2022, OpSens Inc., a cardiology-focused medical device company that develops creative solutions utilizing its exclusive optical technology, has reported the receipt of 510(k) regulatory clearance from the U.S. Food & Drug Administration (FDA) for its new SavvyWire guidewire designed for transcatheter aortic valve replacement (TAVR) procedures.
By procedure, transfemoral was the highest revenue-grossing segment in the global transcatheter aortic valve replacement market in 2023 owing to its ease of use, early mobility ability, accessibility to awake operations, fast-track protocols, and minimizing of surgical incisions, rising preference for transfemoral approach over surgical aortic valve replacement (SAVR), and increasing approvals by regulatory bodies. For instance, in August 2023, Genesis MedTech has revealed that its J-Valve™ Transfemoral (TF) System has received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA). This groundbreaking heart valve has been granted Breakthrough Device status for its intended use in treating severe native aortic regurgitation (AR) and AR-dominant mixed aortic valve disease in patients who, as determined by a heart team, are suitable candidates for the device and are at a high risk for traditional open surgical aortic valve replacement. Additionally, transapical is predicted to grow at fastest CAGR during the forecast period owing to the growing focus on development of innovative transapical devices and rising launch of advanced devices.
By material, nitinol was the highest revenue-grossing segment in the global transcatheter aortic valve replacement market in 2023 owing to the lack of magnetic properties, along with biocompatibility, flexibility, & resistance to fatigue, allows medical devices used in minimally invasive surgeries & implants to deliver enhanced results. Additionally, cobalt-chromium is predicted to grow at fastest CAGR during the forecast period owing to its increased radiopacity and durability when compared to steel stents, this alternative offers the advantage of having a finer mesh, reducing the risk of thrombosis, & its strong biocompatibility and surge in approvals by regulatory bodies. For instance, in September 2022, Edwards Lifesciences has received FDA clearance for its Sapien 3 transcatheter aortic valve, which incorporates materials that the company believes could serve as the foundation for future heart valve implants.
By mechanism, balloon-expanding valve was the highest revenue-grossing segment in the global transcatheter aortic valve replacement market in 2023 as it allows for simpler coronary access since it is non-repositionable, intra-annular, and has a reduced stent frame profile, rising adoption in TAVR procedures and surge in technological advancements. Additionally, self-expanding valve is predicted to grow at fastest CAGR during the forecast period owing to the increasing focus on product development and growing introduction of advanced devices. For instance, in September 2022, Medtronic plc has unveiled the broader availability of its latest self-expanding transcatheter aortic valve replacement (TAVR) system, the Evolut FX TAVR system, in the U.S. market. This new system, Evolut FX, introduces additional capabilities to the existing Evolut platform, improving ease of use and providing physicians with more predictable valve deployment.
By end-user, hospitals was the highest revenue-grossing segment in the global transcatheter aortic valve replacement market in 2023 owing to growing prevalence of AS, surge in number of TAVR procedures, increasing technological advancements in TAVR products & systems, and rising healthcare infrastructure. Additionally, ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to its cost-effectiveness, shorter hospital stays, cheaper fixed expenditures, & lower overhead and rising collaborations within market players. For instance, in June 2022, Atlas Healthcare Partners, a firm dedicated to creating and overseeing ambulatory surgery centers, has joined forces with MedAxiom, a company focused on enhancing cardiovascular organizational performance. Together, they are introducing a pioneering venture centered on cardiovascular-focused ambulatory surgery centers. The collaboration aims to enhance cardiovascular care by expanding the availability of top-notch, patient-centric cardiovascular treatments within ambulatory surgery centers.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing well-developed healthcare infrastructure, rising TAVR procedures, growing novel product launches, surge in prevalence of disorders such as AS & aortic regurgitation, and increasing research & development activities. For instance, For instance, in January 2022, Sahajanand Medical Technologies Limited has published a study in the Cardiovascular Interventions journal of the American College of Cardiology, presenting data on the CE-approved Hydra Transcatheter Aortic Heart Valve. The study assessed the safety and effectiveness of the Hydra transcatheter aortic heart valve over a period of 30 days and one year in treating symptomatic AS among cardiac patients with a significant or high surgical risk. According to the research, the Transcatheter Aortic Heart Valve with the Hydra valve demonstrated excellent efficiency after one year, with effective orifice area, minimal transvalvular gradient, and low rates of complications. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the surge in prevalence of aortic stenosis diseases, growing healthcare infrastructure, increasing awareness related to transcatheter aortic valve implantation, rising number of transfemoral TAVI procedures, and surge in launch of advanced devices. For instance, in December 2022, Abbott, a worldwide healthcare corporation, has introduced its most recent transcatheter aortic valve implantation (TAVI) system called Navitor, offering access to this minimally invasive device for individuals in India suffering from severe aortic stenosis and facing high or extreme surgical risk.
Segmentation: Transcatheter Aortic Valve Replacement Market Report 2023 - 2034
Transcatheter Aortic Valve Replacement Market Analysis & Forecast by Procedure 2023 - 2034 (Revenue USD Bn)
- Transapical
- Transaortic
- Transfemoral
Transcatheter Aortic Valve Replacement Market Analysis & Forecast by Material 2023 - 2034 (Revenue USD Bn)
- Stainless Steel
- Nitinol
- Cobalt Chromium
- Others
Transcatheter Aortic Valve Replacement Market Analysis & Forecast by Mechanism 2023 - 2034 (Revenue USD Bn)
- Self-Expanding Valve
- Balloon-Expanding Valve
Transcatheter Aortic Valve Replacement Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Ambulatory Surgical Centers
- Hospitals
- Others
Transcatheter Aortic Valve Replacement Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Transcatheter Aortic Valve Replacement Market: Procedures Estimates & Trend Analysis
8. Transcatheter Aortic Valve Replacement Market: Material Estimates & Trend Analysis
9. Transcatheter Aortic Valve Replacement Market: Mechanism Estimates & Trend Analysis
10. Transcatheter Aortic Valve Replacement Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Transcatheter Aortic Valve Replacement Market
13. Europe Global Transcatheter Aortic Valve Replacement Market
14. Asia Pacific Global Transcatheter Aortic Valve Replacement Market
15. Latin America Global Transcatheter Aortic Valve Replacement Market
16. MEA Global Transcatheter Aortic Valve Replacement Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Medtronic plc
- CryoLife Inc.
- Abbott Laboratories Inc.
- Micro Interventional Devices Inc
- Boston Scientific Corporation
- LivaNova PLC
- Meril Life Sciences Pvt. Ltd. Inc.
- Auto Tissue Berlin GmbH
- Edwards Lifesciences Corporation
- Lepu Medical Technology Co. Ltd.
- St. Jude Medical Inc.
- Neovasc Inc.
- JenaValve Technology Inc.
- TTK HealthCare
- Transcatheter Technologies GmbH
- Bracco SpA
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 6.16 Billion |
| Forecasted Market Value ( USD | $ 14.13 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
