Transcatheter Heart Valve Replacement Market Size By Products (Transcatheter Aortic Valve Replacement, Transcatheter Mitral Valve {Mitral Valve Repair, Mitral Valve Replacement}, Transcatheter Pulmonary Valve Replacement), By Surgical Approach (Transfemoral Approach, Transapical Approach, Transaortic Approach), By Application (Aortic Valvular Heart Disease {Aortic Valve Stenosis, Aortic Valve Regurgitation}, Mitral Valvular Heart Disease {Mitral Valve Stenosis, Mitral Valve Regurgitation}, Pulmonary Valvular Heart Disease) By End-use (Hospitals, Ambulatory Surgical Centres, Cardiac Centres) Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Mar 2019  |  Report ID: GMI3170  |  Authors: Sumant Ugalmugale, Rupali Swain

Report Format: PDF   |   Pages: 350   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Transcatheter Heart Valve Replacement Market size was valued over USD 4.2 billion in 2018 and is expected to witness 14% CAGR from 2019 to 2025.       
 

U.S. transcatheter heart valve replacement market, by product, 2018 & 2025 (USD Million)

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Recent rise in technological advancements in surgical procedures for transcatheter heart valve replacement in Europe will be one of the major factors driving the business growth in the future. In March 2017, the U.S. Food and Drug Administration (FDA) approved the market clearance to Medtronic CoreValve Evolut Pro transcatheter aortic valve replacement (TAVR) device with latest developments in surgical procedures for the treatment of aortic stenosis for patients that are at high risk for open heart surgeries. Aortic valvular disease is one of the most common valve disease that leads to surgical or transcatheter replacement and repair in Europe. Hence, technological advancements aimed at catering the patient demand will augment the growth of the market in Europe.
 

Availability of favorable reimbursement policies for the patients in the form of government sponsored Medicaid plans, Medicare and insurance policies are targeted to increase the treatment rate for valvular diseases. Presence of favorable reimbursement scenario in the North America region will increase the number of transcatheter heart valve replacement and repair procedures, augmenting the industry growth.
 

High out-of-pocket healthcare expenditure in the developing regions of Asia Pacific region will be one of the major market impeding factors. In low and middle income countries, out-of-pocket healthcare expenditure constitute significant portion of the population. The high out-of-pocket expenditure will be a major barrier in accessing the devices used in treatment of valvular diseases and will limit the use of transcatheter heart valve replacement procedures.
 

Transcatheter Heart Valve Replacement Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 4.2 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 14% 2025 Value Projection: 10.5 Billion (USD)
Pages: 350 Tables, Charts & Figures: 722
Geographies covered (33): U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Austria, Belgium, Czech Republic, Denmark, Finland, Greece, Ireland, Norway, Poland, Portugal, Sweden, Switzerland, Netherlands, Japan, China, India, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Israel
Segments covered: Products, Surgical Approach, Application, End-use and Region
Companies covered (11): C Medical Technologies, Abbott, Boston Scientific, Edwards Lifesciences, HighLife Medical, JC Medical, LivaNova, Medtronic plc, Meril Life Sciences, Micro Interventional Devices, Neovasc
Growth Drivers:
  • Rise in venture capital investments for transcatheter heart valve devices by major players in North America and Europe
  • Increasing technological advancements in surgical procedures for transcatheter heart valve replacement in Europe
  • Favorable reimbursement scenario in NA and Europe
  • Increasing prevalence of valvular heart disease in developing regions of Asia Pacific
  • Rising interest of manufacturers in emerging markets such as Middle East and Africa
Pitfalls & Challenges:
  • High cost and risk associated with the transcatheter heart valve replacement procedures in Asia Pacific
  • Stringent government regulations in developing regions
  • Insufficient healthcare infrastructures in Latin America
  • Lack of awareness regarding new minimally invasive surgical procedures and inadequate medical facilities in MEA

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Transcatheter Heart Valve Replacement Market, By Product

Germany transcatheter heart valve replacement market share, by product, 2018
Germany transcatheter heart valve replacement market share, by product, 2018

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Transcatheter aortic valve replacement market was valued around USD 3,174.1 million in the year 2018. Increase in prevalence of aortic valvular disease will lead to growing number of transcatheter aortic valve replacement procedures. As per the recent statistics, the geriatric population at the risk of aortic stenosis is increasing and is estimated that around 2.5 million people over 75 years of age in the U.S. suffer from this disease. Rise in demand and adoption rate of transcatheter aortic valves will boost the business growth.
 

Transcatheter mitral valve market is estimated to grow at a hasty rate of 27.2% over the projection period. Growing prevalence of severe mitral annular calcification, failed surgical bio prosthesis and failed surgical rings have augmented the demand of the transcatheter mitral valves. Also, recent technological advancements and development of novel products will result in substantial growth in transcatheter mitral valves market in the forthcoming years.
 

Transcatheter Heart Valve Replacement Market, By Surgical Approach

Transfemoral approach market was valued around USD 2,519.2 million in the year 2018. Rapid technological advancement in transcatheter heart valve replacement to minimize the surgery complication and maximize survival rate has resulted in minimally invasive procedures such as transfemoral approach. The transfemoral approach is the most preferred and less invasive procedure for transcatheter heart valve replacement hence, resulting in enhancing the business growth in the coming years.
 

Transaortic approach market is projected to grow at a robust CAGR of 14.3% over the estimation period. Increase in number of people suffering from severe, symptomatic aortic stenosis that are unable to undergo surgical procedure will drive the demand and adoption rate of transcatheter aortic valve replacement procedure in turn augmenting the transaortic approach market.
 

Transcatheter Heart Valve Replacement Market, By Application

Application of transcatheter heart valve for aortic valvular diseases was valued around USD 3,371.6 million in the year 2018. Aortic valvular heart disease is at its peak due to the growing geriatric population since they are more prone to cardiovascular and other chronic diseases. As per recent research it is estimated that people older than 70 years of age have high blood pressure as the most common heart condition with heart failure and coronary artery disease being next. Hence, rise in prevalence of several chronic heart condition will augment the use of transcatheter heart valves, fueling the business growth in the upcoming years.
 

Application of transcatheter heart valve for mitral valvular diseases will grow at lucrative CAGR of 27.6% over the forecast timeframe. It is estimated that in the developing regions Asia-Pacific and Latin America, many countries are in the phase of attaining economic development as a result they are transitioning to a western lifestyle, consuming high fat containing food and adopting sedentary lifestyle leading to an increase in cardiovascular diseases.
 

Transcatheter Heart Valve Replacement Market, By End-use

The use of transcatheter heart valve in the hospitals was valued around USD 2,513.8 million in the year 2018. The high market share is attributed to the availability of state of art facilities in the hospital settings. Valve replacement procedures are mostly performed in the hospital as these surgeries are complicated and can be trusted with proper medical facilities that is available in the hospitals.
 

The use of transcatheter heart valve in the cardiac centers will witness a significant growth at a CAGR of 14.3% over the forecast period. Cardiac centers are estimated to hold satisfactory amount of market share in the forthcoming years. They provide the necessary specialized medical facilities for the treatment of transcatheter heart valve diseases. Cardiac centers are specifically designed for the diagnosis and treatment of cardiovascular diseases.
 

Transcatheter Heart Valve Replacement Market, By Region

Europe transcatheter heart valve replacement market, by country, 2025 (USD Million)
Europe transcatheter heart valve replacement market, by country, 2025 (USD Million)

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U.S. dominated the North America transcatheter heart valve replacement market and was valued around USD 1,711.4 million in the year 2018. Valvular heart disease is one of the most common cardiovascular disease in the American population. Increase in number of people suffering from valvular heart disease in the country will enhance the market growth. Also, favorable reimbursement policies and presence of key market players in the region will enhance the market.
 

Indian market is estimated to grow at a CAGR of 18.0% over the forecast period. Rise in geriatric population, increase in number of people suffering from valvular heart disease, growing awareness among the people regarding the treatment related to transcatheter heart valve and rise in healthcare expenditure will drive the business growth in the country in upcoming years.
 

Competitive Market Share

Medtronic Plc, Edwards Lifesciences, Boston Scientific, Abbott are some of the major industry participants in the transcatheter heart valve replacement market. Growing advancements in existing technology, introduction of new and novel products, geographical expansion and mergers and acquisitions are some of the strategies practiced by these companies to capitalize on market opportunity. For instance, in December 2018, Meril Life Sciences introduced Myval, a transcatheter aortic valve (TAVR), becoming the first Indian company to manufacture a transcatheter heart valve and make commercially available on a global scale.
 

Transcatheter Heart Valve Replacement Industry Background

Valvular heart diseases are associated with the person’s advancing age, caused by the congenital defects or inefficiency of valves to function. Valve dysfunction results in restricting physical activities that leads to decline in quality of life and even death. Hence, due to these reasons many years have been spent on developing heart valve devices in order to repair and replace the damaged heart valves. Over the past few years innovation and recent technological advancements have resulted in manufacturing of transcatheter heart valve that are less risky and need minimally invasive surgical procedure. Increase in number of people with valvular heart disease and rise in demand for minimally invasive surgical procedure will augment the growth of transcatheter heart valve replacement industry in the near future.


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