Heart Valves Market Size

Heart Valves Market Growth Projections and Opportunities

Transcatheter procedures offer a minimally invasive method to replace damaged heart valves in patients with cardiac stenosis. This approach eliminates the need to remove the old or dysfunctional valve, making it a viable treatment option for those suffering from valvular heart disease. The heart's valves play a crucial role in regulating blood flow, ensuring it moves in one direction through the heart. When these valves malfunction, it results in valvular heart disease, which can manifest as regurgitation (where blood flows in the wrong direction) or stenosis (narrowing of the valve). Transcatheter procedures are utilized to address these heart valve issues.

Compared to open-heart surgery, transcatheter techniques offer an efficient alternative. These procedures are categorized into two primary types: Transcatheter Aortic Valve Replacement (TAVR) and Transcatheter Mitral Valve Replacement (TMVR). Among these, TAVR sees higher usage and has witnessed around 300,000 patient implants globally. The growth of this market is driven by factors such as the increased prevalence of cardiovascular diseases, the rise in mitral valve disorders, technological advancements, and the introduction of innovative cardiac valves. However, challenges such as the high cost of surgeries and stringent government regulations have hindered market growth.

Projections indicate that the global transcatheter market is expected to grow at a Compound Annual Growth Rate (CAGR) of 13.3% from 2018 to 2023. In 2017, the Americas dominated this market with a share of 35.1%, followed by Europe at 30.9% and the Asia Pacific at 27.0%. The growth in the Americas is attributed to advanced technology, high healthcare spending, and the presence of key market players.

The segmentation of the global transcatheter market is based on treatment type, product variety, end-users, and geographical regions. Among the treatment approaches, the transfemoral method held the largest market share of 72.9% in 2017, amounting to a market value of USD 2,830.29 million, with a projected CAGR of 13.2% during the forecast period.

Considering product types, Transcatheter Aortic Valve Replacement (TAVR) contributed the most significant share of 63.6% in 2017, with a market value of USD 3,637.8 million, and is anticipated to witness a CAGR of 13.1% during the forecast period.

In terms of end-users, hospitals held the largest market share of 41.3% in 2017, accounting for a market value of USD 1,603.65 million, expected to grow at a CAGR of 13.1% during the forecast period. This indicates the substantial reliance on hospitals for conducting transcatheter procedures and providing essential care in this domain.