"Designing Growth Strategies is in our DNA"
The global transcatheter heart valve replacement market size was valued at USD 4.04 billion in 2018 and is projected to reach USD 10.34 billion by 2026, exhibiting a CAGR of 12.5% during the forecast period. Valve regurgitation and valve diseases are emerging as one of the leading cause of deaths.
According to the American Heart Association, bicuspid aortic valve defects occur in 13.7 per 1,000 people in the U.S. This rising prevalence of cardiac valve disorders coupled with active government interventions has surged the demand for transcatheter heart valve replacement. Furthermore, green signal from the government for the launch of new products and advantages of transcatheter technology over surgical valve are contributing to the demand for transcatheter heart valve replacement. According to the article “The Year in Cardiology 2017 - Valvular Heart Disease,” published in the European Heart Journal, the total number of aortic valve replacement procedure in the world is projected to reach 850,000 by 2020. Apart from this, the rising obese population and growing prevalence of congenital heart diseases are positively impacting the market.
Manufacturers focusing on the Development of Mitral Valve Product will drive the Market
Transcatheter Mitral Valve Replacement (TMVR) in transcatheter heart valve replacement is emerging as a new frontier in the market owing to the increasing research investment by major manufacturers. Unmet treatment needs of patients and limited products available in the market have triggered various manufacturers to develop new TMVR products and enter into strategic collaborations. Many of the TMVR products are currently under investigational stage.
For example, Shanghai NewMed Medical Co., Ltd. is conducting clinical trials for Mi-thos, transcatheter mitral valve replacement product. Similar researches are projected to further boost the market during 2019-2026.
Request a Free sample to learn more about this report.
Favorable Health Reimbursement to Boost Market
Adequate government as well as private reimbursement policies for transcatheter heart valve replacement is resulting in increasing number of procedures which is fostering the demand for these products. In June 2019, Centers for Medicare & Medicaid Services (CMS) updated the reimbursement policies for THVR. The updated rule increased the procedure volume requirement for reimbursement of transcatheter heart valve replacement.
Also, according to the new rule, hospitals in the U.S. that want to maintain the existing transcatheter heart valve replacement programs, are required to perform at least 50 aortic valve replacement including 20 TAVR procedures every year. This is projected to drive the transcatheter heart valve replacement market growth.
Launch of Innovative Products to Favor the Market Growth
Introduction of new products for the transcatheter heart valve replacement is expected to provide significant boost to the market. Introduction of transcatheter technology in the era where people are rapidly moving towards minimally invasive treatment options is anticipated to favor the THVR market growth during the forecast period.
For example, in September 2019, Medtronic announced the launch of Evolut PRO+, a transcatheter aortic valve replacement (TAVR) system in the U.S. In addition to this, proven clinical studies highlighting the safety of transcatheter heart valve when compared to surgical valves, improved clinical outcomes, and less complications are likely to foster the market.
Presence of Alternative Products to Hinder Market
In spite of advantages of minimally invasive transcatheter technology; many regions especially the emerging countries still use the traditional surgical valves. There is a significant demand for the surgical valves among patients. This is mainly because surgical valves are more durable than transcatheter ones and can last lifelong. Established presence of surgical valve is one of the major factors that can hamper the market.
To know how our report can help streamline your business, Speak to Analyst
Unmet Patient Needs to Provide High Growth to the TMVR Segment
Based on product type, the market is segmented into Transcatheter Aortic Valve Replacement (TAVR), Transcatheter Mitral Valve Replacement (TMVR), and Transcatheter Pulmonary Valve Replacement (TPVR). The TAVR segment is estimated to account for a major portion of the market in 2018 owing to the increasing number of transcatheter aortic valve replacement and availability of novel products. For instance, in November 2019, Edward Lifesciences received CE mark for Edwards SAPIEN 3 for the treatment of patients with aortic stenosis having lower risk for open heart surgery.
Huge unmet needs of patient population requiring mitral valve treatment are anticipated to render remarkable business opportunities for the Transcatheter Mitral Valve Replacement (TMVR) segment. According to a report by Edwards Lifesciences, less than 2% of the patients with mitral valve disease receive interventions, leaving millions of patients in need of treatment. This represents the potential growth opportunities present in the TMVR segment in the forecoming years. Increasing number of births with congenital heart defects and rising need for interventional pulmonary valve products are anticipated to foster the expansion of Transcatheter Pulmonary Valve Replacement (TPVR) during the forecast period.
In March 2017, Medtronic received FDA approval for Melody, a transcatheter pulmonary valve for patients with congenital heart diseases. This is expected to augment the TPVR segment.
Improving Government Guidelines for Valve Disease to Drive Hospital Segment
In terms of end user, the transcatheter heart valve replacement market is segmented into hospitals and specialty clinics & others. The hospital segment dominated the market owing to the favorable health reimbursement and rising number of procedures in hospitals. Furthermore, improving government guidelines for the management for vulvar diseases is another factor contributing to the expansion of the hospital segment. The specialty clinics & others segment for THVR procedures is projected to grow during the projected period owing to the significant increase in the number of private cardiologists and unmet needs of patient population.
North America Transcatheter Heart Valve Replacement Market Size, 2019 (USD billion)
To get more information on the regional analysis of this market, Request a Free sample
The transcatheter heart valve replacement market size in North America stood at USD 1.62 billion in 2018.Active government support through product approvals and favorable health reimbursement are the major factors attributed to the increasing demand for transcatheter heart valve replacement products. According to the American Heart Association, 90,000 valve substitutes are implanted in the U.S. every year which is likely to augment the market in North America. The increasing prevalence for cardiac valve diseases and the rising demand for minimally invasive products are estimated to augment the transcatheter heart valve replacement procedures in Europe.
According to the German Heart Surgery Report, a total of 34,394 heart valve procedures were conducted in Germany in 2017, among which, 12,965 were performed through transcatheter interventions. This, coupled with new product launches and strategic collaborations are likely to boost the market in Europe. In Asia Pacific, the market is projected to grow significantly, which can be attributed to the rapid adoption of transcatheter valves, rising geriatric and obese population, and strong government support. Primary reasons for the growth of the market in Latin America and the Middle East & Africa are the rising cases of heart valve leakage and improving health infrastructure.
According to Innovus, a technology transfer company owned by Stellenbosch University, approximately 1,400 aortic valve replacements are done annually in South Africa, which in turn is boosting the market in the Middle East and Africa.
Edwards Lifesciences and Abbott to Lead the transcatheter heart valve replacement Market
In terms of the market revenue, Edwards Lifesciences accounted for the maximum portion of the market, mainly due to the higher sales of SAPIEN, new product approvals, and diverse product portfolio of the company. Increased focus of the company on developing products to best match the requirements of the patients is expected to strengthen the company’s position in the overall market. On the other side, the acquisition of St. Jude Medical, Inc. rendered second position to Abbott owing to the increasing investments on the development of new products to maintain its market position.
An Infographic Representation of Transcatheter Heart Valve Replacement Market
To get information on various segments, share your queries with us
The transcatheter heart valve replacement (THVR) market report offers an elaborative analysis of numerous factors affecting the market. These include opportunities, growth drivers, threats, key developments, and restraints. In addition to this, the THVR market report further helps in analyzing, segmenting, and defining the transcatheter heart valve replacement based on different segments such as product type and end user. It strategically analyzes several strategies such as product innovations, mergers, alliances, joint ventures, and acquisitions adopted by players in the industry.
Value (USD billion)
By Product Type
By End User
The value of the global THVR market was USD 4.04 billion in 2018.
Fortune Business Insights says that the market is projected to reach USD 10.34 billion by 2026.
The value of the market in North America was USD 1.62 billion in 2018.
The market is projected to rise at a CAGR of 12.5% during the forecast period (2019-2026).
The Transcatheter Aortic Valve Replacement (TAVR) segment is the leading segment in THVR market during the forecast period.
New product launches and favorable health reimbursement are the key factors driving the market.
Edward Lifesciences and Abbott are the top players in the market.
North America is expected to hold the highest market share.
Increasing focus of manufacturers for the development of mitral valve products and strategic collaborations among players are the key trends of the THVR market.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry