Transcatheter Aortic Valve Implantation (TAVI) Market

Transcatheter Aortic Valve Implantation (TAVI) Market Size:

The global transcatheter aortic valve implantation (TAVI) market size reached US$ 6.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.1 Billion by 2032, exhibiting a growth rate (CAGR) of 10.65% during 2024-2032. The growing geriatric population, the rising prevalence of aortic stenosis, the technological advancements in TAVI procedures, the growing demand for minimally invasive surgeries, and the escalating adoption of transcatheter heart valve replacement techniques are some of the factors propelling the market.

Transcatheter Aortic Valve Implantation (TAVI) Market Analysis:

• Major Market Drivers: The market is majorly driven by the rising demand for minimally invasive surgeries and the increasing prevalence of aortic stenosis worldwide.
• Key Trends: The development of next-generation transcatheter heart valve systems are one of the key trends. Additionally, the increasing prevalence of aortic stenosis among the aging population is driving demand for minimally invasive treatment options.
• Geographical Trends: North America dominated the market due to well-established healthcare infrastructure and growing awareness about minimally invasive treatment options. Hospital market in North America is anticipated to reach a revenue of US$ 1,615.00 billion by 2024. This reflects a growth rate with an annual CAGR of 3.48% from 2024 to 2029. This, in turn, will contribute to the market growth across the region.
• Competitive Landscape: Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences Corporation, and JC Medical Inc. (Genesis Medtech International Private Limited) are some of the major market players.
• Challenges and Opportunities: The high procedural costs are a challenge on the market. On the other hand, the expansion into emerging markets and the development of advanced TAVI technologies are opportunities present in the market.

Transcatheter Aortic Valve Implantation (TAVI) Market Drivers:

Advancements in TAVI Technology

The development of technology and innovation in transcatheter aortic valve replacement has boosted the market growth across the world. The makers of advanced devices invest heavily in research and development in the invention of new, invasive techniques for the treatment of patients. This further propels the market in the forecasted period. Currently, in treating symptomatic patients with aortic stenosis, transcatheter aortic valve implantation is the most common method of aortic valve replacement. Recently, conventional surgical aortic valve replacement became restricted to the younger patient of 65-75 years due to the mix of inappropriate anatomies and concerns regarding a lack of long-term data on the durability of TAVI. Improvement in technology, coupled with increased operator experience, has resulted in procedural changes that lead to better outcomes.

Increasing Adoption by Interventional Cardiologists and Heart Teams

Transcatheter aortic valve implantation (TAVI) for the treatment of aortic stenosis has grown at an exponential rate over the last decade among interventional cardiologists and heart teams, with transcatheter therapy being available for mitral and tricuspid valves as well. TAVI indications have increased from inoperable and high surgical risk patients to all surgical risk groups since their inception. Recent studies have found that second-generation TAVR devices have improved safety benefits. These studies also find that transcatheter heart valve devices are associated with a decreased risk of paravalvular regurgitation, valve embolization, and other bleeding events. This supports the adoption of TAVI among interventional cardiologists and heart teams.

Emergence of Transcatheter Mitral Valve Replacement (TMVR)

The emergence of Transcatheter Mitral Valve Replacement (TMVR) is aiding the market expansion. Transcatheter mitral valve replacement (TMVR) for the treatment of native mitral regurgitation (MR) was once expected to follow in the footsteps of transcatheter aortic valve replacement (TAVR) by providing a simple and safe replacement of the diseased valvular apparatus through a minimally invasive procedure. TMVR is a less invasive option than open-heart surgery to correct regurgitation. It also helps to improve symptoms caused by mitral valve disease, lower the risk of serious health problems, and provide a quicker recovery than open-heart surgical options.

Transcatheter Aortic Valve Implantation (TAVI) Market Opportunities:

Expanding Indications for TAVI Procedures

Transcatheter aortic valve implantation (TAVI) has transformed the management of symptomatic severe aortic valve stenosis. Current guidelines advocate TAVI for individuals who are at a higher risk of death after surgery. Advanced image planning, new transcatheter valve platforms, procedure streamlining, and improved operator experience have all resulted in enhanced procedural safety and bioprosthetic valve performance. As a result, TAVI has been witnessing expanding indications. In younger and low-risk patients, TAVI demonstrated an early safety advantage over surgical aortic valve replacement, as well as speedier hospital departure and recovery and fewer rehospitalizations. TAVI has now been investigated in patients with symptomatic severe aortic stenosis across the whole surgical risk range, from inoperable to low-risk populations. TAVI is also now being studied in clinical trials for severe bicuspid aortic valve stenosis, asymptomatic severe aortic stenosis, moderate aortic stenosis in combination with heart failure with low ejection fraction, and isolated pure aortic regurgitation.

Long-Term Follow-Up and Research

The growing patient population that benefits from transcatheter aortic valve implantation (TAVI) has distinct characteristics and requires special attention during follow-up. Clinical issues related to patient status and comorbidities, valve problems (either TAVI-specific or common to all prosthetic valves), and management and organizational issues must be addressed. Comprehensive analysis, diagnosis, and therapy enable these individuals to preserve their physical health and quality of life. Their treatment should take place in a specialized setting, in coordination with the Heart Team, the attending cardiologist, and the general practitioner. This long-term follow-up and research after TAVI is expected to offer numerous opportunities for the market.

Key Technological Trends & Development:

Next-Generation Valve Designs

The next-generation valve designs are a key technological trend. These designs add new functionality while drawing on field-proven technologies and decades of experience to satisfy the demands of contemporary and future processes. Sustainable yet lucrative performance is the outcome of design and engineering efforts to reduce emissions, size, weight, and complexity. These dependable valves are designed to provide long-term, consistent performance with extended maintenance intervals and fewer shutdowns throughout the valve's lifecycle. Transcatheter aortic valve replacement has revolutionized the management of aortic valve disease over the last few years, becoming the standard of care throughout the surgical risk range. As a result of continual innovations in this technology, numerous next-generation transcatheter heart valves (THVs) have been created to reduce procedural problems and improve patient outcomes.

Improved Imaging and Navigation Technologies

The improved imaging and navigation technologies are other key technological trends. Transcatheter aortic valve replacement (TAVR) is supported by a variety of imaging modalities aimed to not only choose a suitably sized implant but also to identify potential procedural challenges. Advanced imaging technologies such as 3D echocardiography, transesophageal echocardiography (TEE), and computed tomography (CT) scans offer enhanced precision. Clear imaging helps physicians determine if a patient is suitable for TAVR. Improved navigation technologies help cardiologists during the TAVR procedure. They offer enhanced visualization of the aortic valve and surrounding structures.

Transcatheter Mitral Valve Replacement (TMVR)

TMVR is a minimally invasive structural heart disease procedure that replaces a damaged mitral valve without requiring open heart surgery. A flexible, hollow tube (catheter) is placed into a blood artery to access the heart and replace the mitral valve. Transcatheter mitral valve replacement may be suitable for patients with mitral valve regurgitation or stenosis. Older patients and those with underlying health issues are more likely to require open-chest surgery and may be better candidates for TMVR. Transcatheter mitral valve replacement allows for mitral valve replacement without opening the chest, providing treatment for those who are not candidates for open-heart surgery.

Transcatheter Aortic Valve Implantation (TAVI) Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on procedure and end user.

Breakup by Procedure:

• Transfemoral Procedure
• Transapical Implantation
• Transaortic Implantation
   

Transfemoral procedure accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the procedure. This includes transfemoral procedure, transapical implantation, and transaortic implantation. According to the report, the transfemoral procedure represented the largest segment.

The transfemoral procedure is the standardized TAVI procedure in which an artificial valve is inserted through the femoral artery under minimal anesthesia. This minimally invasive procedure also enables faster recovery for patients. Furthermore, the increasing focus on tentative products by key market players is expected to boost the market growth of transcatheter valve replacement (TAVR) market globally. The transfemoral approach avoids the need for sternotomy (splitting of the breastbone), which reduces the risk of complications such as wound infections and sternal instability.

Breakup by End User:

• Hospitals
• Diagnostic Labs
• Ambulatory Surgical Centers
• Clinics
• Others
   

Hospitals hold the largest share of the industry

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes hospitals, diagnostics labs, ambulatory surgical centers, clinics, and others. According to the report, the hospitals accounted for the largest market share.

The hospital segment accounts for the largest share of the market due to the reimbursement done by the hospital. Moreover, the presence of professional surgeons in the hospital and advanced tools used in the procedure are bolstering the growth of the segment. Hospitals are the major places where complex and technologically advanced surgical procedures are performed. TAVR is often performed at a hospital by cardiologists or specialists who specialize in cardiac surgery. Before performing TAVR, medical personnel will measure the valve opening, and then provide sedatives or tranquilizers, as well as drugs to prevent potentially lethal blood clots. Due to comprehensive care in hospital settings, the segment is expected to grow at a rapid pace during the projection period.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East
• Africa
   

North America leads the market, accounting for the largest market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Latin America (Brazil, Mexico, and others); the Middle East; and Africa. According to the report, North America accounted for the largest market share.

North America holds the largest share of the global transcatheter aortic valve implantation (TAVI) market due to the increasing incidences of heart valve disorders in the region. The favorable reimbursement policies offered by the medicare centers are also fueling the growth of the market growth. The growth in the market can also be attributed to the rise in the prevalence of severe aortic stenosis cases and the growing awareness among patients and surgeons about the availability of advanced transcatheter aortic valves.

Analysis Covered Across Each Country:

• Historical, current, and future market performance
• Historical, current, and future performance of the market based on procedure and end user.
• Competitive Landscape
• Government Regulations
   

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape covering market structure, market share by key players, market player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant, among others. Detailed profiles of all major companies have also been provided. This includes business overview, product offerings, business strategies, SWOT analysis, financials, and major news and events. Some of the key players in the global transcatheter aortic valve implantation (TAVI) industry include Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences Corporation, JC Medical Inc. (Genesis Medtech International Private Limited), Medtronic plc, Meril Life Sciences Pvt. Ltd., NVT AG (Biosensors International Group), Venus Medtech (Hangzhou) Inc., etc.

The transcatheter aortic valve implantation (TAVI) market is highly competitive. Many reputed companies are involved in transcatheter aortic valve implantation (TAVI). The market players are also investing in research and development activities to gain a competitive edge in the market. Furthermore, the key players in the market aim to launch technologically advanced transcatheter aortic valves with improved clinical indications. Moreover, the market players are also involved in strategic partnerships and collaborations to maintain a strong position in the market. For instance, on November 22, 2023, Venus Medtech announced that it has reached exclusive strategic marketing cooperation with Valgen Medtech to accelerate the popularisation of diagnosis and treatment technology for valvular heart diseases in China.

Analysis Covered for Each Player:

• Market Share
• Business Overview
• Products Offered
• Business Strategies
• SWOT Analysis
• Major News and Events
   

Transcatheter Aortic Valve Implantation (TAVI) Market News: 

• April 29, 2024: Abbott Laboratories announced that the U.S. Food and Drug Administration (FDA) has approved the Esprit BTK Everolimus Eluting Resorbable Scaffold System (Esprit BTK System), a breakthrough innovation for people with chronic limb-threatening ischemia (CLTI) below-the-knee (BTK).
• March 1, 2024: Boston Scientific Corporation announced that it has received U.S. Food and Drug Administration (FDA) approval for the AGENT Drug-Coated Balloon (DCB), which is indicated to treat coronary in-stent restenosis (ISR) in patients with coronary artery disease.
• May 8, 2024: Edwards Lifesciences Corporation announced the European launch of the SAPIEN 3 Ultra RESILIA valve, the only transcatheter aortic heart valve to incorporate the company’s breakthrough RESILIA tissue technology, designed to extend the valve’s durability.

Transcatheter Aortic Valve Implantation (TAVI) Market Report Scope:

Key Questions Answered in This Report:

• How has the global transcatheter aortic valve implantation (TAVI) market performed so far, and how will it perform in the coming years ?
• What are the drivers, restraints, and opportunities in the global transcatheter aortic valve implantation (TAVI) market ?
• What is the impact of each driver, restraint, and opportunity on the global transcatheter aortic valve implantation (TAVI) market ?
• What are the key regional markets ? 
• Which countries represent the most attractive transcatheter aortic valve implantation (TAVI) market ?
• What is the breakup of the market based on the procedure ?
• Which is the most attractive procedure in the transcatheter aortic valve implantation (TAVI) market ?
• What is the breakup of the market based on the end user ?
• Which is the most attractive end user in the transcatheter aortic valve implantation (TAVI) market ?
• What is the competitive structure of the market ?
• Who are the key players/companies in the global transcatheter aortic valve implantation (TAVI) market ?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the transcatheter aortic valve implantation (TAVI) market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global transcatheter aortic valve implantation (TAVI) market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the transcatheter aortic valve implantation (TAVI) industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.