Global Transcatheter Valve Repair System Market is Segmented By Product Type (Transcatheter Aortic Valve Replacement (TAVR), Transcatheter Mitral Valve Replacement (TMVR), Transcatheter Pulmonary Valve Replacement (TPVR), Transcatheter Tricuspid Valve Replacement (TTVR)), By Application (Aortic Stenosis, Mitral Stenosis, Tricuspid Stenosis, Pulmonary Stenosis), By End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Transcatheter Valve Repair System Market Overview
Global Transcatheter Valve Repair System Market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing with a CAGR of YY % during the forecast period 2024-2031.
Transcatheter valve repair systems are minimally invasive devices used to treat heart valve diseases like aortic stenosis, mitral regurgitation, and tricuspid regurgitation without open-heart surgery. They involve inserting a catheter through a small incision in the leg or chest, guiding it to the heart using imaging guidance, and then deploying a repair device over the damaged valve, either repairing it or replacing it with a new one.
Transcatheter Valve Repair System Market Scope
| Metrics | Details |
| CAGR | YY% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Product Type, Application, End User |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Largest Region | North America |
| Fastest Growing Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Transcatheter Valve Repair System Market Dynamics
Rise in the advancements in the systems
New transcatheter valve repair systems are being developed with enhanced functionality and durability, reducing the risk of structural valve deterioration. These advancements have increased the global adoption of these systems, enhancing their efficiency and effectiveness.
One of the most notable advancements is 3D printing for customized valve implants Advancements in 3D printing technology have opened new horizons in the field of healt valve replacement. Cardiologists and surgeons can now create custom-made health valve implants tailored to an individual patient's unique anatomy. This personalisation improves the implant's fit and function, enhancing the overall success of the procedure.
Furthermore, the transcatheter valve repair system market is also driven by various other factors like a rise in the prevalence of cardiovascular diseases, an increase in R&D investment and others that help the market to grow during the forecast period.
Market Restraint
The market is hampered by various factors in that the high cost of the systems and procedures is the main factor that hinders the market growth during the forecast period. For example, the initial costs for the TMVr procedure and index hospitalization were $35 755 and $48 198, respectively.
Transcatheter Valve Repair System Market Segmentation
The global transcatheter valve repair system market is segmented based on product type, application, end-user and region.
The transcatheter aortic valve replacement from the product type segment accounted for approximately 43.7% of the transcatheter valve repair system market share
The transcatheter aortic valve replacement from the product type segment accounted for approximately 43.7% and is expected to dominate during the forecast period. Transcatheter aortic valve replacement (TAVR) is a procedure to replace an aortic valve that is narrowed and doesn't open fully. The aortic valve is between the left lower heart chamber and the body's main artery. The narrowing of the aortic valve is called aortic valve stenosis. The valve problem blocks or slows blood flow from the heart to the body.
For instance, in September 2022, Medtronic stated the expanded U.S. market release of its newest-generation, self-expanding transcatheter aortic valve replacement (TAVR) system, the Evolut™ FX TAVR system. Evolut FX adds new features to the existing Evolut platform to enhance ease of use and predictable valve deployment for physicians.
Transcatheter Valve Repair System Market Geographical Share
North America accounted for approximately 38.4% of the market share in 2022
North America is estimated to hold about 38.4% of the total market share throughout the forecast period owing to the factors like novel device launches, increase in incidence of heart diseases, presence of major vendors, and rise in investment in R&D activities are boosting market statistics in the region.
For instance, in January 2024, Eisenhower Health was the first hospital in the United States to become an Edwards Benchmark program Case Observation Site for the treatment of aortic stenosis in patients undergoing transcatheter aortic valve replacement (TAVR).
The standard treatment for aortic stenosis (a narrowing of the aortic valve opening) has been valve replacement through open-heart surgery. In 2015, Eisenhower Health became the first and remains the only hospital in the Coachella Valley to approach aortic stenosis with TAVR.
COVID-19 Impact Analysis
Covid 19 had a significant impact on the transcatheter valve repair system market where covid 19 pandemic has significantly postponed millions of elective procedures, particularly aortic valve replacement procedures with higher postponement for surgical procedures than transcatheter ones, and less pronounced during the second wave.
Competitive Landscape
The major global players in the market include Abbott Laboratories, Biotronik Pvt. Ltd., Colibri Heart Valve, Edwards Lifesciences Corporation, Medtronic plc, Neovasc lnc, Boston Scientific, Cromaze Technologies, Microport Scientific Corporation, Venus Medtech (Hangzhou) Inc among others.
Key Developments
- In October 2023, Edwards Lifesciences Corporation stated the company's EVOQUE tricuspid valve replacement system received CE Mark for the transcatheter treatment of eligible patients with tricuspid regurgitation (TR). The EVOQUE system is the world's first transcatheter valve replacement therapy to receive regulatory approval to treat TR.
- In September 2022, Edwards Lifesciences Corporation stated the company's PASCAL Precision transcatheter valve repair system for transcatheter edge-to-edge repair (TEER) has received FDA approval for the treatment of patients with degenerative mitral regurgitation (DMR).
Why Purchase the Report?
- To visualize the global transcatheter valve repair system market segmentation based on product type, application, end user and region as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of transcatheter valve repair system market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global transcatheter valve repair system market report would provide approximately 69 tables, 70 figures and 183 pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
