Transcatheter Aortic Valve Replacement Market Size & Share Analysis - Growth, Trends & Forecasts (2024 - 2029)

Transcatheter Aortic Valve Replacement Market Analysis

The Transcatheter Aortic Valve Replacement Market size is estimated at USD 6.03 billion in 2024, and is expected to reach USD 9.61 billion by 2029, growing at a CAGR of 9.78% during the forecast period (2024-2029).

Factors such as the increasing burden of aortic stenosis coupled with a growing geriatric population, rising demand for minimally invasive procedures, and technological advancements are expected to boost the growth of the transcatheter aortic valve replacement market during the forecast period.

Transcatheter aortic valve replacement (TAVR) has become a crucial intervention for patients previously deemed inoperable, offering both symptom relief and a statistically significant reduction in mortality. Numerous studies have evaluated the progression of TAVR devices and their efficacy in treating aortic stenosis. For instance, a May 2023 article published in the Methodist DeBakey Cardiovascular Journal highlighted that, due to ongoing advancements in procedural techniques and device technology, TAVR has revolutionized the treatment approach for aortic stenosis patients over the last twenty years.

In addition to the above context, next-generation transcatheter heart valve devices, including the Acurate NEO2 THV and SAPIEN X4 THV, are demonstrating enhanced safety and efficacy compared to earlier models. With a heightened emphasis on the long-term management of aortic stenosis, these newer devices are particularly relevant as younger and lower-risk patients are anticipated to outlive their transcatheter heart valves (THV). Consequently, the superior safety and effectiveness of these advanced TAVR devices are poised to boost their adoption in TAVR procedures, driving the market's growth during the forecast period.

Furthermore, the rising adoption of TAVR systems for aortic stenosis treatment is set to boost market demand for these products, fueling the market's growth. For instance, in June 2023, Onecera Medical made strides by successfully implanting its Crea Aortic Valve, a transcatheter aortic valve replacement (TAVR) system, to treat aortic stenosis. Onecera Medical’s valve boasts a distinctive concave and convex design, ensuring a secure anchor in the aortic annulus. Additionally, the valve's differential radial force technology allows for varying radial forces based on its position within the annulus and aorta. As a result, these innovative systems are transforming TAVR procedures, positioning them as key drivers of the market's growth in the coming years.

Moreover, the introduction and approval of new products are set to boost the demand for next-generation offerings in the market, driving the market's expansion. For instance, in May 2024, Edwards Lifesciences unveiled the Sapien 3 Ultra Resilia valve in Europe. This valve is the sole transcatheter aortic valve replacement (TAVR) system featuring the company's innovative Resilia tissue technology. The newly introduced TAVR system caters to patients with heart valve disease, whether due to native calcific aortic stenosis across all surgical risk levels or due to the failure of a previous transcatheter or surgical bioprosthetic valve, especially those deemed at high risk for open surgical therapy. Thus, the launch of technologically advanced TAVR systems is expected to propel their adoption, especially for patients at high risk for open surgeries, bolstering the market's growth.

Therefore, the rising development of TAVR systems coupled with the growing number of research studies evaluating their effectiveness and safety in treating aortic stenosis, increasing adoption of TAVR systems across healthcare facilities, and new product launches by the key players, the studied market is expected to grow during the forecast period. However, the high cost of devices and procedures, severe risk associated with TAVR, and limited reimbursement are expected to impede the growth of the studied market during the forecast period.

Transcatheter Aortic Valve Replacement Market Trends

The Self-expanding Valves Segment is Expected to Witness Significant Growth Over the Forecast Period

Transcatheter Aortic Valve Replacement Industry Segmentation

As per the scope of the report, transcatheter aortic valve replacement (TAVR) is a procedure that addresses the issue of a narrowed aortic valve. The aortic valve, located between the heart's left lower chamber and the body's primary artery, plays a crucial role. Unlike traditional open-heart valve surgery, TAVR is a minimally invasive procedure utilizing smaller incisions. This makes it a viable option for individuals who are not candidates for conventional heart surgery. By undergoing TAVR, patients can experience relief from symptoms associated with aortic valve stenosis, such as chest pain and shortness of breath.

The transcatheter aortic valve replacement market is segmented into types of devices, procedures, materials, end users, and geography. By type of devices, the market is segmented into self-expanding valves, balloon-expandable valves, and other types of devices. By procedure, the market is segmented into transfemoral, transapical, and transaortic. By material, the market is segmented into nitinol, cobalt chromium, and stainless steel. By end user, the market is segmented into hospitals, ambulatory surgical centers, cardiovascular centers, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. For each segment, the market sizing and forecasts were made based on value (USD).