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Transcatheter Heart Valve Replacement Market to Exhibit 12.5% CAGR by 2026; Rising Popularity of Minimally Invasive Surgeries will Add Momentum to Market

August 03, 2021 | Healthcare

The global transcatheter heart valve replacement (THVR) market size is anticipated to reach USD 10.34 billion by 2026. This is attributable to the increasing prevalence of cardiac valve disorders in the world. The American Heart Association states an average of 13.7 per 1000 people in the U.S. is affected by bicuspid aortic valve disorders per year. According to a recently published report by Fortune Business Insights™ titled, “Transcatheter Heart Valve Replacement (THVR) Market Size, Share & Industry Analysis, By Product Type (Transcatheter Aortic Valve Replacement (TAVR), Transcatheter Mitral Valve Replacement (TMVR), and Transcatheter Pulmonary Valve Replacement (TPVR)), By End User (Hospitals, and Specialty Clinics & Others), and Regional Forecast, 2019-2026,”the market was USD 4.04 billion in 2018 and is expected to rise at a CAGR of 12.5% during the forecast period, 2019-2026. The market will gain traction from the introduction of new mitral valve products into the market.


Canada Hosts Launch of Venus Medtech for Pulmonary Valve Implant


Chinese company for heart valve, namely Venus Medtech, launched their self-expanding pulmonary valve implant called Venus P-Valve in Canada in June 2018. This valve is specially designed for patients who do not prefer cardiopulmonary or sternotomy bypass surgery as part of the traditional valve replacement surgeries. A simple delivery system can perform this surgery wherein the valve is inserted percutaneously on patients who opt out of cardiopulmonary and sternotomy bypass surgeries.


Dr. Ronald Carere of St. Paul’s Hospital in Canada says, “The success rate of these stents is highly positive, and we expect it to expand all over the nation. This will replace the traditional valve replacement surgeries in the coming years.” The company further planned to launch an FDA clinical trial in 2019. Such innovation is likely to bode well for the market in the forecast period.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/transcatheter-heart-valve-replacement-thvr-market-102678


Government-supported Reimbursement Policies will Help Market Gain Impetus


The increasing prevalence of cardiovascular diseases among the geriatric and bariatric population are the major factors promoting the transcatheter heart valve replacement market growth. Besides this, the advent and increasing popularity of minimally invasive surgeries are expected to aid in the expansion of the market. Moreover, improving healthcare infrastructure and medical facilities, coupled with government-supported reimbursement policies in some regions, are likely to help the market gain impetus in the coming years.


On the flipside, established presence and demand for traditional surgical valves especially in the developing nations may pose a significant threat to the market. Nevertheless, the rise in the focus of players for the development of Mitral Valve Products is projected to create lucrative growth opportunities for the market in the long run.


Players Strive to Get Regulatory Approvals from Authorities to Gain Competitive Edge in Market


Currently, the global transcatheter heart valve replacement market is dominated by Edwards Lifesciences, followed by Abbott. This is on account of the presence of innovative products by Edwards and high sales of their product called SAPIEN. Other players operating in the market are engaging in company collaborations, joint ventures, mergers and acquisitions, and other strategies such as substantial investments in research and development of better products for attracting high THVR market revenue in the forthcoming years. They are also focusing on getting FDA approvals and CE mark for business in various regions so as to gain a competitive edge in the market in the near future.


Key Industry Developments of Transcatheter Heart Valve Replacement (THVR) Market include:


September 2019 – Medtronic launched a new transcatheter aortic valve replacement system called Evolut+in the U.S.


March 2017 –  Melody, the transcatheter pulmonary valve launched by Medtronic, received approval from the Food and Drug Administration for treating congenital heart disease patients.


List of Key Transcatheter Heart Valve Replacement (THVR) Market Manufacturers include:



  • Boston Scientific Corporation

  • LivaNova PLC

  • Micro Interventional Devices Inc.

  • Edwards Lifesciences Corporation

  • Medtronic

  • Cryolife Inc.

  • Abbott

  • Others


Further Report Findings



  • North America held the largest THVR market share with a revenue of USD 1.62 billion in 2018. This is attributable to the favorable health reimbursement policies and government-supported product approvals.

  • With respect to segmentation by product type, the Transcatheter Aortic Valve Replacement (TAVR) segment earned the dominant THVR market share. In 2018, this segment earned 80.2% share attributable to the rising number of transcatheter aortic valve replacement, an increasing number of product launches, and the availability of various products.


Global Transcatheter Heart Valve Replacement (THVR) Market is categorized into:








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD billion)



Segmentation



By Product Type



  • Transcatheter Aortic Valve Replacement (TAVR)

  • Transcatheter Mitral Valve Replacement (TMVR)

  • Transcatheter Pulmonary Valve Replacement(TPVR)



By End User



  • Hospitals

  • Specialty Clinics & Others



By Geography



  • North America (the U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, and the Rest of Latin America)

  • Middle East& Africa (South Africa, GCC and the Rest of Middle East & Africa)



 


 

Transcatheter Heart Valve Replacement (THVR) Market

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