Transcatheter Aortic Valve Replacement (TAVR) Size was valued at USD 3.15 Billion in 2022. The Global Transcatheter Aortic Valve Replacement (TAVR) industry is projected to grow from USD 3.81 Billion in 2023 to USD 17.52 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 21.00% during the forecast period (2024 - 2032). The growing need for less invasive methods and growing technological developments are the key market drivers boosting the expansion of the market.
Source: Secondary Research, Original Research, MRFR Database and Analyst Review
Market CAGR for Transcatheter Aortic Valve Replacement (TAVR) is being driven by the rising education of patients and physicians. The process of implanting a transcatheter aortic valve, which is specifically made to mimic the heart's aortic valve and restore its ability to pump blood, is known as transcatheter aortic valve implantation. Three different techniques are used to implant these transcatheter aortic valves in patients: transfemoral, transaortic, and transapical.
Additionally, the aging demographic worldwide is one significant trend driving the TAVR industry. Novel treatments such as TAVR are in high demand because of the rising incidence of aortic valve disorders and the aging population. Further driving TAVR's popularity and market expansion is the fact that, in comparison to conventional open-heart surgery, it is now the preferred option because of its less intrusive technique, shorter recovery times, and lower death rates. The TAVR market faces a number of difficulties in addition to its explosive growth. Novel TAVR device introduction may be impacted by the difficult and drawn-out regulatory channels and approval processes that need to be navigated. In addition, challenges that impact patient access to TAVR operations include differences in reimbursement rules and healthcare resources throughout areas.
In order to create prospects in the transcatheter aortic valve replacement (TAVR) business, patient and physician education is crucial. Education helps the market grow by raising awareness and comprehension of the advantages, safety, and appropriateness of TAVR. Patients are better equipped to choose their course of treatment when they have thorough knowledge about TAVR. Increased knowledge may encourage more patients to think about and select TAVR, hence increasing the procedure's demand and extending its potential patient base. Education for physicians is also important. Healthcare professionals are guaranteed to be knowledgeable about the most recent TAVR procedures and technologies through training programs and ongoing medical education initiatives.
For instance, aortic regurgitation was found to be between 4.9% and 10% common in the United States, per the StatPearls article "Aortic Regurgitation," which was released in April 2022. Additionally, the same source states that women (8.5%) are less likely than men (13%) to suffer from aortic regurgitation. Thus, result in driving the Transcatheter Aortic Valve Replacement (TAVR) revenue.
The Transcatheter Aortic Valve Replacement (TAVR) segmentation, based on Procedure, includes Transfemoral Implantation, Transapical Implantation, and Transaortic Implantation. In 2023, the transfemoral implantation segment dominated the market. Due to its ease of use, early mobility capability, accessibility to awake procedures, fast-track protocols, and reduction of surgical incisions, the transfemoral technique has emerged as the method of choice for patients when compared with surgical aortic valve replacement (SAVR).
The Transcatheter Aortic Valve Replacement (TAVR) segmentation, based on End Users, includes Hospitals, Ambulatory Surgical Centers, and Others. In 2023, the hospitals category generated the most income because of a rise in TAVR procedures and growing AS. Additionally, favorable reimbursement conditions in developed and developing nations, technological breakthroughs in TAVR products and systems, and improved healthcare infrastructure are boosting market expansion.
Figure 1: Transcatheter Aortic Valve Replacement (TAVR), by End User, 2023 & 2032 (USD Million)
Source: Secondary Research, Original Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Transcatheter Aortic Valve Replacement (TAVR) area will dominate this market because of the substantial number of patients with cardiac illnesses, the remarkable healthcare infrastructure, the strong foundation of healthcare facilities, and the significant presence of key companies in the market.
Further, the major countries studied in the market report are the US, China, Japan, India, Australia, South Korea, Brazil, Germany, France, the UK, Italy, and Spain.
Figure 2: TRANSCATHETER AORTIC VALVE REPLACEMENT (TAVR) MARKET SHARE BY REGION 2023 (USD Million)
Source: Secondary Research, Original Research, MRFR Database and Analyst Review
Europe Transcatheter Aortic Valve Replacement (TAVR) has the second-largest portion of the market. This is because there are more government programs now aimed at promoting healthcare. Further, the German Transcatheter Aortic Valve Replacement (TAVR) maintained the largest market share, and the UK Transcatheter Aortic Valve Replacement (TAVR) was the European market with the quickest rate of growth.
The Asia-Pacific Transcatheter Aortic Valve Replacement (TAVR) is anticipated to expand between 2024 and 2032 at the quickest CAGR. This is a result of people becoming more conscious of their health and the need for cutting-edge medical technology in the form of implants and treatments. Moreover, China’s Transcatheter Aortic Valve Replacement (TAVR) maintained the largest market share, and the Indian Transcatheter Aortic Valve Replacement (TAVR) was the Asia-Pacific region's fastest-growing market.
Leading market players are putting a lot of money into R&D to expand their product lines, which will help the market for weight reduction products grow. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. To grow and endure in an increasingly cutthroat and dynamic market, the Transcatheter Aortic Valve Replacement (TAVR) industry must provide reasonably priced goods.
Manufacturing locally is one of the primary business techniques used by manufacturers to cut operational costs in the global Transcatheter Aortic Valve Replacement (TAVR) industry to help customers and expand the market segment. In recent years, the Transcatheter Aortic Valve Replacement (TAVR) industry has provided some of the biggest benefits to medicine. Major players in the Transcatheter Aortic Valve Replacement (TAVR), including and others, are engaging in research and development activities in an effort to boost market demand.
The American multinational corporation Abbott Laboratories is a provider of healthcare and medical devices, with its main office located in Green Oaks, Illinois. Originally established in 1888 by Chicago physician Wallace Calvin Abbott to provide well-known medications, the company currently offers diagnostics, medical equipment, branded generic drugs, and nutritional goods. In 2013, it divided its research-based medicines division into AbbVie. In January 2022, Abbott unveiled Lingo, a set of consumer bio-wearable sensors that gathers biological data to enhance diet and exercise plans.
The Delaware-incorporated Boston Scientific Corporation ("BSC") is a multinational biomedical/biotechnology engineering company that specializes in the production of medical devices for use in a variety of interventional medical specialties, such as peripheral interventions, neuromodulation, neurovascular intervention, electrophysiology, cardiac surgery, vascular surgery, endoscopy, oncology, urology, and gynecology. The Taxus Stent is a drug-eluting stent that is used to unblock clogged arteries, and Boston Scientific is well-known for developing it. Following the complete acquisition of Cameron Health in June 2012, the business gained notoriety for providing the EMBLEM subcutaneous implantable defibrillator (S-ICD), a minimally invasive implantable cardioverter-defibrillator (ICD). In January 2021, Boston declared that it will pay up to $1.2 billion to acquire Minneapolis-based Preventice Solutions, Inc. and its suite of mobile heart health solutions.
November 2020: Boston Scientific's next-generation LOTUS Edge Aortic Valve System has been approved for use in Europe with the CE Mark.
March 2020: With better results for TAVR treatments, Edwards Lifesciences announced the introduction of the SAPIEN 3 Ultra system in the US.
February 2020: The FDA approved the Evolut PRO+ TAVR system from Medtronic, which has design improvements for better valve sealing and longevity.
Transfemoral Implantation
| Market Size 2022 | USD 3152.2 Million |
| Market Size 2023 | USD 3814.2 Million |
| Market Size 2032 | USD 17526 Million |
| Compound Annual Growth Rate (CAGR) | 21.00% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Procedure, End Users, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | China, Japan, India, Australia, South Korea, Brazil, Germany, France, UK, Italy, and Spain |
| Key Companies Profiled | CryoLife, Inc. (U.S.), Abbott (U.S.), Micro Interventional Devices, Inc. (U.S.), Boston Scientific Corporation (U.S.), LivaNova PLC (U.K.), Meril Life Sciences Pvt. Ltd. (India), Edwards Lifesciences Corporation (U.S.), |
| Key Market Opportunities | · Growing Progress in Technology |
| Key Market Dynamics | · Growing Need for Techniques That Are Minimally Invasive |
Frequently Asked Questions (FAQ) :
In 2023, the market for Transcatheter Aortic Valve Replacement (TAVR) was estimated to be worth USD 3814.2 million worldwide.
From 2024 to 2032, the global market is expected to expand at a CAGR of 21.00%.
North America held the most market share worldwide.
The key players in the market are CryoLife, Inc. (U.S.), Abbott (U.S.), Micro Interventional Devices, Inc. (U.S.), Boston Scientific Corporation (U.S.), LivaNova PLC (U.K.), Meril Life Sciences Pvt. Ltd. (India), Edwards Lifesciences Corporation (U.S.).
In 2023, the market was dominated by the Transfemoral Implantation sector.
The Hospitals company held the biggest market share worldwide.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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