WILMINGTON, DE / ACCESSWIRE / April 3, 2023 / Transparency Market Research Inc. - The global transcatheter heart valve replacement and repair market was valued at USD 3.4 Bn in 2022 and is projected to reach USD 8.0 Bn by 2031 with CAGR of 9.7% from 2023 to 2031.

Rise in demand for transcatheter heart valve replacement and repair procedures to treat severe aortic stenosis is expected to accelerate market development.

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Market Snapshot:

Advancements in transcatheter aortic valve implantation technologies have led to development of devices, which are easy to implant and retrieve, thereby enhancing the long-term outcomes and safety of these procedures. A case in point is innovation in mechanical pulmonary valve replacement techniques. High prevalence of severe aortic stenosis in the elderly population presents significant business opportunities to companies in the transcatheter heart valve replacement and repair industry.

Key Findings of Study

• Significant Adoption of Transcatheter Aortic Valve Replacement to Offer Lucrative Opportunities: Surge in preference for transcatheter aortic valve replacement over open heart surgeries is likely to bolster the market. Transcatheter aortic valve replacement is an emerging segment. It held leading market share in 2022. Rise in adoption of transcatheter aortic valve replacement to treat severe aortic stenosis is likely to propel the segment. These are widely performed in hospitals settings. Hence, the hospitals segment accounted for major share in 2022. Increase in preference for hospitals among patients could be ascribed to availability of advanced treatments, comprehensive post-procedural care, and better patient selection criteria.

• Advancements in Transcatheter Heart Valve Technologies and Techniques to Boost Market: Rise in demand for minimally invasive surgical approaches to treat structural heart diseases has encouraged R&D activities in transcatheter heart valve technologies. Introduction of new devices for transcatheter aortic valve implantation is likely to bolster market development during the forecast period.

Key Drivers

• High prevalence of valvular heart diseases is a key driver of the transcatheter heart valve replacement and repair market. Preference for minimally invasive interventions to treat valvular heart disease, such as congenital pulmonary stenosis and severe aortic stenosis, is likely to augment market size.

• Surge in incidence of cardiovascular diseases is expected to bolster demand for transcatheter heart valve replacement procedures. Demand for such procedures has increased rapidly in developed and developing countries in the past few years owing to advancements in medical technologies used in aortic valve replacement. Introduction of new devices has led to better long-term outcomes of transcatheter heart valve replacement and repair procedures in high-risk patients with severe aortic stenosis.

• Rise in number of congenital heart disease in adults is expected to fuel demand for TAVR procedures

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Regional growth Dynamics

North America accounted for leading share of the global transcatheter heart valve replacement and repair market in 2022. Favorable reimbursement framework, such as Medicare and Medicaid, in the U.S. is likely to encourage patients to undergo TAVR. Surge in prevalence of valvular heart diseases in the region is anticipated to fuel the market growth from 2023 to 2031.

Europe is also a lucrative transcatheter heart valve replacement and repair market. France, Germany, and the U.K. are anticipated to offer significant opportunities to companies in the region. Rapidly aging population in Europe is likely to propel the demand for transcatheter heart valve replacement and repair procedures in the near future.

The market in Asia Pacific is anticipated to grow at a rapid pace from 2023 to 2031. Improvements in healthcare infrastructure and rise in awareness about the burden of valvular heart diseases and congenital heart diseases are expected to propel the market. Japan and China are lucrative markets, likely to be driven by rise in demand for transcatheter heart valve replacement and repair procedures in the elderly population.

Competition Landscape

Leading players are focusing on product portfolio expansion and merger and acquisition in order to increase revenue during the forecast period. Prominent companies are keen on medical innovations to treat structural heart diseases in a bid to consolidate their market positions.

Some of the key players operating in the market are Abbott Laboratories, Edwards Lifesciences, Medtronic Plc., Boston Scientific Corporation, JenaValve, Meril, MicroPort, Venus MedTech Hangzhou Inc., Peijia Medical, Blue Sail Medical Co., Ltd., and Sahajanand Medical Technologies Pvt. Ltd.

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Transcatheter Heart Valve Replacement and Repair Market Segmentation

Procedure

• Transcatheter Heart Valve Replacement

• Transcatheter Mitral Valve Repair

• Transcatheter Pulmonary Valve Replacement

Indication

• Aortic Stenosis

• Mitral Regurgitation

• Aortic Regurgitation

• Mitral Stenosis

• Tricuspid Regurgitation

End-user

• Hospitals

• Ambulatory Surgical Centers

• Cardiac Catheterization Laboratories

Region

• North America

• Europe

• Latin America

• Asia Pacific

• Middle East & Africa

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