Transcatheter Heart Valve Replacement Market, Global Forecast 2022-2027, Industry Trends, Impact of COVID-19, Opportunity Company Analysis
Description
Transcatheter Heart Valve Replacement Market, Global Forecast 2022-2027, Industry Trends, Impact of COVID-19, Opportunity Company Analysis
Transcatheter Heart Valve Replacement Market is expected to reach US$ 11.8 Billion by 2027. Over the past decade, transcatheter heart valve replacement has become the leading technique for aortic valve replacement, mitral valve replacement, and pulmonary valve replacement. Transcatheter heart valve replacement is a procedure with a less invasive approach that helps replace the heart valve with a prosthetic valve to treat severe aortic stenosis and mitral regurgitation. It is an effective alternative to cumbersome open heart surgery, especially for high-risk patients.
Thus, the procedure helps reduce severe degenerative aortic stenosis and increases the survival rate of patients. Improving percutaneous transcatheter prosthetic valve implantation worldwide is to propel the demand for transcatheter heart valve devices, as the risk of valvular heart disease is higher among the geriatric population, owing to the increasing prevalence of severe aortic stenosis asymptomatic severe mitral regurgitation.
Factors Driving Transcatheter Heart Valve Replacement Industry
As per the World Journal of Cardiovascular Diseases, more than 7 million deaths are due to sudden cardiac arrest globally every year. Therefore, the growing cases of heart attacks, heart failures, strokes, and other heart-related conditions facilitate the market for transcatheter heart valve replacement.
Technological advancements and innovative product launches in the cardiovascular industry have resulted in better treatment and improved accessibility to TAVR devices. Compared to mechanical prosthetic valves, tissue valves are increasingly prevalent for better biocompatibility and high durability.
Favorable reimbursement plans for Medicare, Medicaid plans, and insurance claims sponsored by the regulatory authorities for the patients further expand the affordability of these transplant surgeries and, thus, fueling the treatment rate for valvular disorders.
Transcatheter Heart Valve Replacement Industry will grow with double-digit CAGR of 12.57% from 2021-2027
On the basis of product, Transcatheter Heart Valve Replacement Market includes Transcatheter Aortic Vmeaningalve Replacement Market, Transcatheter Mitral Valve Replacement Market, and Transcatheter Pulmonary Valve Replacement Market. Transcatheter Aortic Valve Replacement has significant market share owing to the increasing number of transcatheter aortic valve replacements and the availability of novel products. Apart from this, depending on the product, Transcatheter Aortic Valve Replacement (TAVR) is segmented into the Transfemoral approach, Transapical approach, and Transaortic approach.
Besides, based on application, TAVR is used to treat aortic valve disorders such as severe aortic stenosis, aortic regurgitation and others. Transcatheter aortic valve replacement devices are combined with a valve mechanical (made of stainless steel or nitinol) and valve leaflets Biological (made of cow heart tissue or bovine). These aortic valves are available in various sizes (29mm, 22mm, 20mm, 18mm, 14mm, and 16mm). Likewise, Transcatheter mitral valve replacement provides superior hemodynamic efficiency with a low rate of residual mitral regurgitation and low transvalvular gradients. Transcatheter mitral valve replacement is segmented into mechanical valves and bioprosthetic tissue valves.
Worldwide Transcatheter Heart Valve Replacement Market Size was US$ 5.8 Billion in 2021
In terms of End-Users, the transcatheter heart valve replacement industry is segmented into hospitals and Cath Labs. The cath labs segment has considerable market shares. A cath lab has special imaging equipment to see the arteries and check how well blood is flowing to and from the heart. This information helps the care team to treat and diagnose blockages and other problems in the arteries. Furthermore, TAVR is mostly performed in cath labs rather than a hybrid with substantial cost savings and no worsening outcomes.
North America has Highest Transcatheter Heart Valve Market Worldwide
Geographically, North America is the leading transcatheter heart valve market globally. The rapid enlargement in the geriatric population, available government support through product approvals and favorable health reimbursement and the high prevalence of valvular heart diseases are the primary elements of the rising need for transcatheter heart valve replacement products. As per the American Heart Association, 90,000 valve substitutes are embedded in the U.S. every year.
Conversely, Asia-Pacific's transcatheter heart valve replacement industry has immensely grown. This is because of the rising geriatric populations in nations like China and Japan and the increasing understanding among physicians and healthcare specialists about transcatheter aortic valve replacement.
COVID – 19 Impacts on Transcatheter Heart Valve Replacement Market:
Patients and the cardiac arrest treatment industry faced struggles amid the COVID-19 pandemic. Due to the diversion of the medical field towards dining COVID-19, the funding to R&D activities related to cardiac diseases has been diminished, manufacturing of ventilators essential for COVID-19 treatment has been prioritized. As a result, this segment has faced slight neglect, harming the transcatheter heart valve replacement market for initial months. Pivotal players in the transcatheter heart valve replacement industry include Edwards Life sciences, Abbott Laboratories, Medtronic Plc, Livanova Plc, Boston Scientific Corporation.
Renub Research latest report ""Transcatheter Heart Valve Replacement Market Global Forecast by Type (Transcatheter Aortic Valve Replacement Market, Transcatheter Mitral Valve Replacement Market and Transcatheter Pulmonary Valve Replacement Market), Material (Mechanical Valve, Biological Valve), Region (North America, Europe, Asia-Pacific, Latin America and Others), End-Users (Hospitals, Cath Labs), TAVR Product (Transfemoral approach, Transapical approach, Transaortic approach and Others), TAVR Application (Aortic Stenosis, Aortic Regurgitation and Others), Company (Edwards Life sciences, Abbott Laboratories, Medtronic Plc, Livanova Plc, Boston Scientific Corporation.)"" provides a detailed analysis of Global Transcatheter Heart Valve Replacement Industry
Transcatheter Heart Valve Replacement Market by Type has been covered from 3 viewpoints
1. Transcatheter Aortic Valve Replacement
2. Transcatheter Mitral Valve Replacement
3. Transcatheter Pulmonary Valve Replacement
Transcatheter Aortic Valve Replacement Market has been covered from 2 viewpoints
1. Mechanical Valve
2. Biological Valve
Transcatheter Mitral Valve Replacement Market has been covered from 2 viewpoints
1. Mechanical Valve
2. Biological Valve
Transcatheter Pulmonary Valve Replacement Market has been covered from 2 viewpoints
1. Mechanical Valve
2. Biological Valve
Transcatheter Heart Valve Replacement Market by Region has been covered from 2 viewpoints
1. North America
2. Europe
3. Asia-Pacific
4. Latin America
5. Others
Transcatheter Heart Valve Replacement Market by End-User has been covered from 2 viewpoints
1. Hospitals
2. Cath Labs
Transcatheter Aortic Heart Valve Replacement Market by Product has been covered from 4 viewpoints
1. Transfemoral approach
2. Transapical approach
3. Transaortic approach
4. Others
Transcatheter Aortic Heart Valve Replacement Market by Application has been covered from 3 viewpoints
1. Aortic Stenosis
2. Aortic Regurgitation
3. Others
Company Insights
• Overviews
• Recent Developments
• Revenues
Company Analysis:
1. Edwards Life sciences
2. Abbott Laboratories
3. Medtronic Plc
4. Livanova Plc
5. Boston Scientific Corporation.
Transcatheter Heart Valve Replacement Market is expected to reach US$ 11.8 Billion by 2027. Over the past decade, transcatheter heart valve replacement has become the leading technique for aortic valve replacement, mitral valve replacement, and pulmonary valve replacement. Transcatheter heart valve replacement is a procedure with a less invasive approach that helps replace the heart valve with a prosthetic valve to treat severe aortic stenosis and mitral regurgitation. It is an effective alternative to cumbersome open heart surgery, especially for high-risk patients.
Thus, the procedure helps reduce severe degenerative aortic stenosis and increases the survival rate of patients. Improving percutaneous transcatheter prosthetic valve implantation worldwide is to propel the demand for transcatheter heart valve devices, as the risk of valvular heart disease is higher among the geriatric population, owing to the increasing prevalence of severe aortic stenosis asymptomatic severe mitral regurgitation.
Factors Driving Transcatheter Heart Valve Replacement Industry
As per the World Journal of Cardiovascular Diseases, more than 7 million deaths are due to sudden cardiac arrest globally every year. Therefore, the growing cases of heart attacks, heart failures, strokes, and other heart-related conditions facilitate the market for transcatheter heart valve replacement.
Technological advancements and innovative product launches in the cardiovascular industry have resulted in better treatment and improved accessibility to TAVR devices. Compared to mechanical prosthetic valves, tissue valves are increasingly prevalent for better biocompatibility and high durability.
Favorable reimbursement plans for Medicare, Medicaid plans, and insurance claims sponsored by the regulatory authorities for the patients further expand the affordability of these transplant surgeries and, thus, fueling the treatment rate for valvular disorders.
Transcatheter Heart Valve Replacement Industry will grow with double-digit CAGR of 12.57% from 2021-2027
On the basis of product, Transcatheter Heart Valve Replacement Market includes Transcatheter Aortic Vmeaningalve Replacement Market, Transcatheter Mitral Valve Replacement Market, and Transcatheter Pulmonary Valve Replacement Market. Transcatheter Aortic Valve Replacement has significant market share owing to the increasing number of transcatheter aortic valve replacements and the availability of novel products. Apart from this, depending on the product, Transcatheter Aortic Valve Replacement (TAVR) is segmented into the Transfemoral approach, Transapical approach, and Transaortic approach.
Besides, based on application, TAVR is used to treat aortic valve disorders such as severe aortic stenosis, aortic regurgitation and others. Transcatheter aortic valve replacement devices are combined with a valve mechanical (made of stainless steel or nitinol) and valve leaflets Biological (made of cow heart tissue or bovine). These aortic valves are available in various sizes (29mm, 22mm, 20mm, 18mm, 14mm, and 16mm). Likewise, Transcatheter mitral valve replacement provides superior hemodynamic efficiency with a low rate of residual mitral regurgitation and low transvalvular gradients. Transcatheter mitral valve replacement is segmented into mechanical valves and bioprosthetic tissue valves.
Worldwide Transcatheter Heart Valve Replacement Market Size was US$ 5.8 Billion in 2021
In terms of End-Users, the transcatheter heart valve replacement industry is segmented into hospitals and Cath Labs. The cath labs segment has considerable market shares. A cath lab has special imaging equipment to see the arteries and check how well blood is flowing to and from the heart. This information helps the care team to treat and diagnose blockages and other problems in the arteries. Furthermore, TAVR is mostly performed in cath labs rather than a hybrid with substantial cost savings and no worsening outcomes.
North America has Highest Transcatheter Heart Valve Market Worldwide
Geographically, North America is the leading transcatheter heart valve market globally. The rapid enlargement in the geriatric population, available government support through product approvals and favorable health reimbursement and the high prevalence of valvular heart diseases are the primary elements of the rising need for transcatheter heart valve replacement products. As per the American Heart Association, 90,000 valve substitutes are embedded in the U.S. every year.
Conversely, Asia-Pacific's transcatheter heart valve replacement industry has immensely grown. This is because of the rising geriatric populations in nations like China and Japan and the increasing understanding among physicians and healthcare specialists about transcatheter aortic valve replacement.
COVID – 19 Impacts on Transcatheter Heart Valve Replacement Market:
Patients and the cardiac arrest treatment industry faced struggles amid the COVID-19 pandemic. Due to the diversion of the medical field towards dining COVID-19, the funding to R&D activities related to cardiac diseases has been diminished, manufacturing of ventilators essential for COVID-19 treatment has been prioritized. As a result, this segment has faced slight neglect, harming the transcatheter heart valve replacement market for initial months. Pivotal players in the transcatheter heart valve replacement industry include Edwards Life sciences, Abbott Laboratories, Medtronic Plc, Livanova Plc, Boston Scientific Corporation.
Renub Research latest report ""Transcatheter Heart Valve Replacement Market Global Forecast by Type (Transcatheter Aortic Valve Replacement Market, Transcatheter Mitral Valve Replacement Market and Transcatheter Pulmonary Valve Replacement Market), Material (Mechanical Valve, Biological Valve), Region (North America, Europe, Asia-Pacific, Latin America and Others), End-Users (Hospitals, Cath Labs), TAVR Product (Transfemoral approach, Transapical approach, Transaortic approach and Others), TAVR Application (Aortic Stenosis, Aortic Regurgitation and Others), Company (Edwards Life sciences, Abbott Laboratories, Medtronic Plc, Livanova Plc, Boston Scientific Corporation.)"" provides a detailed analysis of Global Transcatheter Heart Valve Replacement Industry
Transcatheter Heart Valve Replacement Market by Type has been covered from 3 viewpoints
1. Transcatheter Aortic Valve Replacement
2. Transcatheter Mitral Valve Replacement
3. Transcatheter Pulmonary Valve Replacement
Transcatheter Aortic Valve Replacement Market has been covered from 2 viewpoints
1. Mechanical Valve
2. Biological Valve
Transcatheter Mitral Valve Replacement Market has been covered from 2 viewpoints
1. Mechanical Valve
2. Biological Valve
Transcatheter Pulmonary Valve Replacement Market has been covered from 2 viewpoints
1. Mechanical Valve
2. Biological Valve
Transcatheter Heart Valve Replacement Market by Region has been covered from 2 viewpoints
1. North America
2. Europe
3. Asia-Pacific
4. Latin America
5. Others
Transcatheter Heart Valve Replacement Market by End-User has been covered from 2 viewpoints
1. Hospitals
2. Cath Labs
Transcatheter Aortic Heart Valve Replacement Market by Product has been covered from 4 viewpoints
1. Transfemoral approach
2. Transapical approach
3. Transaortic approach
4. Others
Transcatheter Aortic Heart Valve Replacement Market by Application has been covered from 3 viewpoints
1. Aortic Stenosis
2. Aortic Regurgitation
3. Others
Company Insights
• Overviews
• Recent Developments
• Revenues
Company Analysis:
1. Edwards Life sciences
2. Abbott Laboratories
3. Medtronic Plc
4. Livanova Plc
5. Boston Scientific Corporation.
Table of Contents
160 Pages
- 1. Introduction
- 2. Research & Methodology
- 3. Executive Summary
- 4. Market Dynamics
- 4.1 Growth Drivers
- 4.2 Challenge
- 5. Transcatheter Heart Valve Replacement Market
- 6. Market Share – Transcatheter Heart Valve Replacement Analysis
- 6.1 By Type
- 6.2 By Material
- 6.3 By Region
- 6.4 By End-User
- 6.5 By Product
- 6.6 By Application
- 7. Type – Transcatheter Heart Valve Replacement Market
- 7.1 Transcatheter Aortic Valve Replacement Market
- 7.1.1 Mechanical Valve
- 7.1.2 Biological Valve
- 7.2 Transcatheter MitralValve Replacement Market
- 7.2.1 Mechanical Valve
- 7.2.2 Biological Valve
- 7.3 Transcatheter PulmonaryValve Replacement Market
- 7.3.1 Mechanical Valve
- 7.3.2 Biological Valve
- 8. Region – Transcatheter Heart Valve Replacement Market
- 8.1 North America
- 8.2 Europe
- 8.3 Asia-Pacific
- 8.4 Latin America
- 8.5 Others
- 9. End-User – Transcatheter Heart Valve Replacement Market
- 9.1 Hospitals
- 9.2 Cath Labs
- 10. Product – Transcatheter Aortic Heart Valve Replacement Market
- 10.1 Transfemoral approach
- 10.2 Transapical approach
- 10.3 Transaortic approach
- 10.4 Others
- 11. Application – Transcatheter Aortic Heart Valve Replacement Market
- 11.1 Aortic Stenosis
- 11.2 Aortic Regurgitation
- 11.3 Others
- 12. Porters Five Forces
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
- 13. Key Players Analysis
- 13.1 Edwards Lifesciences
- 13.1.1 Overview
- 13.1.2 Recent Development
- 13.1.3 Sales Analysis
- 13.2 Abbott Laboratories
- 13.2.1 Overview
- 13.2.2 Recent Development
- 13.2.3 Sales Analysis
- 13.3 Medtronic Plc
- 13.3.1 Overview
- 13.3.2 Recent Development
- 13.3.3 Sales Analysis
- 13.4 LIVANOVA PLC
- 13.4.1 Overview
- 13.4.2 Recent Development
- 13.4.3 Sales Analysis
- 13.5 Boston Scientific Corporation
- 13.5.1 Overview
- 13.5.2 Recent Development
- 13.5.3 Sales Analysis
- List Of Figures:
- Figure-01: Global Transcatheter Heart Valve Replacement Market (Million US$), 2018 – 2021
- Figure-02: Global – Forecast for Transcatheter Heart Valve Replacement Market (Million US$), 2022 – 2027
- Figure-03: Type – Transcatheter Aortic Valve Replacement Market Market (Million US$), 2018 – 2021
- Figure-04: Type – Forecast for Transcatheter Aortic Valve Replacement Market Market (Million US$), 2022 – 2027
- Figure-05: Aortic – Mechanical Valve Market (Million US$), 2018 – 2021
- Figure-06: Aortic – Forecast for Mechanical Valve Market (Million US$), 2022 – 2027
- Figure-07: Aortic – Biological Valve Market (Million US$), 2018 – 2021
- Figure-08: Aortic – Forecast for Biological Valve Market (Million US$), 2022 – 2027
- Figure-09: Type – Transcatheter Mitral Valve Replacement Market Market (Million US$), 2018 – 2021
- Figure-10: Type – Forecast for Transcatheter Mitral Valve Replacement Market Market (Million US$), 2022 – 2027
- Figure-11: Mitral – Mechanical Valve Market (Million US$), 2018 – 2021
- Figure-12: Mitral – Forecast for Mechanical Valve Market (Million US$), 2022 – 2027
- Figure-13: Mitral – Biological Valve Market (Million US$), 2018 – 2021
- Figure-14: Mitral – Forecast for Biological Valve Market (Million US$), 2022 – 2027
- Figure-15: Type – Transcatheter Pulmonary Valve Replacement Market Market (Million US$), 2018 – 2021
- Figure-16: Type – Forecast for Transcatheter Pulmonary Valve Replacement Market Market (Million US$), 2022 – 2027
- Figure-17: Pulmonary – Mechanical Valve Market (Million US$), 2018 – 2021
- Figure-18: Pulmonary – Forecast for Mechanical Valve Market (Million US$), 2022 – 2027
- Figure-19: Pulmonary – Biological Valve Market (Million US$), 2018 – 2021
- Figure-20: Pulmonary – Forecast for Biological Valve Market (Million US$), 2022 – 2027
- Figure-21: North America – Transcatheter Heart Valve Replacement Market (Million US$), 2018 – 2021
- Figure-22: North America – Forecast for Transcatheter Heart Valve Replacement Market (Million US$), 2022 – 2027
- Figure-23: Europe – Transcatheter Heart Valve Replacement Market (Million US$), 2018 – 2021
- Figure-24: Europe – Forecast for Transcatheter Heart Valve Replacement Market (Million US$), 2022 – 2027
- Figure-25: Asia-Pacific – Transcatheter Heart Valve Replacement Market (Million US$), 2018 – 2021
- Figure-26: Asia-Pacific – Forecast for Transcatheter Heart Valve Replacement Market (Million US$), 2022 – 2027
- Figure-27: Latin America – Transcatheter Heart Valve Replacement Market (Million US$), 2018 – 2021
- Figure-28: Latin America – Forecast for Transcatheter Heart Valve Replacement Market (Million US$), 2022 – 2027
- Figure-29: Others – Transcatheter Heart Valve Replacement Market (Million US$), 2018 – 2021
- Figure-30: Others – Forecast for Transcatheter Heart Valve Replacement Market (Million US$), 2022 – 2027
- Figure-31: End-User – Hospitals Market (Million US$), 2018 – 2021
- Figure-32: End-User – Forecast for Hospitals Market (Million US$), 2022 – 2027
- Figure-33: End-User – Cath Labs Market (Million US$), 2018 – 2021
- Figure-34: End-User – Forecast for Cath Labs Market (Million US$), 2022 – 2027
- Figure-35: Product – Transfemoral Approach Market (Million US$), 2018 – 2021
- Figure-36: Product – Forecast for Transfemoral Approach Market (Million US$), 2022 – 2027
- Figure-37: Product – Transapical Approach Market (Million US$), 2018 – 2021
- Figure-38: Product – Forecast for Transapical Approach Market (Million US$), 2022 – 2027
- Figure-39: Product – Transaortic Approach Market (Million US$), 2018 – 2021
- Figure-40: Product – Forecast for Transaortic Approach Market (Million US$), 2022 – 2027
- Figure-41: Product – Others Market (Million US$), 2018 – 2021
- Figure-42: Product – Forecast for Others Market (Million US$), 2022 – 2027
- Figure-43: Application – Aortic Stenosis Market (Million US$), 2018 – 2021
- Figure-44: Application – Forecast for Aortic Stenosis Market (Million US$), 2022 – 2027
- Figure-45: Application – Aortic Regurgitation Market (Million US$), 2018 – 2021
- Figure-46: Application – Forecast for Aortic Regurgitation Market (Million US$), 2022 – 2027
- Figure-47: Application – Others Market (Million US$), 2018 – 2021
- Figure-48: Application – Forecast for Others Market (Million US$), 2022 – 2027
- Figure-49: Edwards Lifesciences – Global Revenue (Million US$), 2018 – 2021
- Figure-50: Edwards Lifesciences – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-51: Abbott Laboratories – Global Revenue (Million US$), 2018 – 2021
- Figure-52: Abbott Laboratories – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-53: Medtronic Plc – Global Revenue (Million US$), 2018 – 2021
- Figure-54: Medtronic Plc – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-55: LIVANOVA PLC – Global Revenue (Million US$), 2018 – 2021
- Figure-56: LIVANOVA PLC – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-57: Boston Scientific Corporation – Global Revenue (Million US$), 2018 – 2021
- Figure-58: Boston Scientific Corporation – Forecast for Global Revenue (Million US$), 2022 – 2027
- List Of Tables:
- Table-01: Global – Transcatheter Heart Valve Replacement Market Share by Type (Percent), 2018 – 2021
- Table-02: Global – Forecast for Transcatheter Heart Valve Replacement Market Share by Type (Percent), 2022 – 2027
- Table-03: Global – Transcatheter Heart Valve Replacement Market Share by Material (Percent), 2018 – 2021
- Table-04: Global – Forecast for Transcatheter Heart Valve Replacement Market Share by Material (Percent), 2022 – 2027
- Table-05: Global – Transcatheter Heart Valve Replacement Market Share by Region (Percent), 2018 – 2021
- Table-06: Global – Forecast for Transcatheter Heart Valve Replacement Market Share by Region (Percent), 2022 – 2027
- Table-07: Global – Transcatheter Heart Valve Replacement Market Share by End-User (Percent), 2018 – 2021
- Table-08: Global – Forecast for Transcatheter Heart Valve Replacement Market Share by End-User (Percent), 2022 – 2027
- Table-09: Global – Transcatheter Heart Valve Replacement Market Share by Product (Percent), 2018 – 2021
- Table-10: Global – Forecast for Transcatheter Heart Valve Replacement Market Share by Product (Percent), 2022 – 2027
- Table-11: Global – Transcatheter Heart Valve Replacement Market Share by Application (Percent), 2018 – 2021
- Table-12: Global – Forecast for Transcatheter Heart Valve Replacement Market Share by Application (Percent), 2022 – 2027
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