Transcatheter Heart Valve Replacement Market | Regional Growth Forecast 2021-2027

Transcatheter Heart Valve Replacement Market | Regional Growth Forecast 2021-2027

Global transcatheter heart valve replacement market share is anticipated to proliferate at a rapid pace in years ahead, on account of the rising venture capital investments in TAVR devices by major industry players in Europe and North America. Likewise, availability of favorable reimbursement policies in these regions will further escalate industry expansion over the forecast spell. In Switzerland and Germany, the transapical access procedure has high reimbursement scenario.

Additionally, in Europe, there have been rapid technological advancements to enhance the process of transcatheter heart valve replacement surgery. This technological innovation, alongside the increasing number of people who are undergoing TAVR procedures, will give the global transcatheter heart valve replacement market trends a significant boost in the coming years.

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High interest of manufacturers in developing TAVR devices, along with the growing incidences of cardiovascular diseases and aortic stenosis in the MEA and other emerging countries, is projected to foster industry outlook over the foreseeable future. As per Global Market Insights, Inc. estimates, the global transcatheter heart valve replacement market size is anticipated to surpass $19.5 billion by 2026.

Based on surgical approach, the global transcatheter heart valve replacement market from the transapical approach segment recorded remuneration worth $1,169 million in 2019, owing to the high proximity of the operator to the patients’ valve. This approach can also avoid the delivery system passage around the aortic arch, thereby reducing the risks of stroke. Furthermore, strong adoption of the approach by healthcare providers due to advantages like low access-related complication rates will drive segmental growth.

In terms of segmentation by product, the transcatheter pulmonary valve replacement segment registered $537 million in revenue in 2019, which is attributable to its rapid adoption for the treatment of patients with narrowed or leaky pulmonary valve or those with surgically-implanted pulmonary valves. Other product benefits include its capability to reduce the rate of heart surgeries among patients.

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Based on end use, the transcatheter heart valve replacement industry share from the hospitals segment is poised to exhibit a CAGR of 14.1% through 2026, due to the presence of favorable reimbursement policies and government initiatives to manage valvular diseases.

With regards to the application spectrum, the mitral valvular heart disease segment is set to depict a CAGR of 23.1% through 2026, which can be credited to the rising prevalence of mitral valve stenosis and regurgitation worldwide. The segmental growth will further be driven by the mounting feasibility trials of the transcatheter mitral valve replacement devices.

As per reliable estimates, more than 4 million U.S. citizens suffer from mitral regurgitation, with over 50,000 as the annual incidence rate. These patients are highly recommended to undergo transcatheter mitral valve replacement.

From a regional perspective, the Brazil transcatheter heart valve replacement market was valued at above $47 million in 2019, as a result of the increasing geriatric population with aortic valvular diseases. Over the last few years, the number of patients with non-rheumatic calcific aortic disease in the region has been increasing at a significant pace. Robust presence of key industry players and the accelerating number of hospitals will further stimulate regional market expansion over the estimated timeframe.

Key transcatheter heart valve replacement market players include Neovasc, Medtronic plc, LivaNova, JC Medical, Boston Scientific, Abbott, and 4C Medical Technologies, among others. These firms are focusing on expanding their geographical presence and customer base through various initiatives like new product launches, M&A, and business expansions.

For instance, in September 2020, Sahajanand Medical Technology (SMT) unveiled the Hydra TAVR device in Central Europe, with an aim to expand its reach in the region.

Partial Chapter of the Table of Content

Chapter 2   Executive Summary

2.1    Transcatheter heart valve replacement industry 3600 synopsis, 2015 - 2026

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Surgical approach trends

2.1.4    Application trends

2.1.5    End-use trends

2.1.6    Regional Trends

Chapter 3   Transcatheter Heart Valve Replacement Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2015 – 2026

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.1.1    Rise in venture capital investments for transcatheter heart valve devices by major players in North America and Europe

3.3.1.2    Increasing technological advancements in surgical procedures for transcatheter heart valve replacement in Europe

3.3.1.3    Favourable reimbursement scenario in North America and Europe

3.3.1.4    Increasing prevalence of valvular heart disease in developing regions of Asia Pacific

3.3.1.5    Rising interest of manufacturers in emerging markets such as Middle East and Africa

3.3.2    Industry pitfalls & challenges

3.3.2.1    High cost and risk associated with the transcatheter heart valve replacement procedures in Asia Pacific

3.3.2.2    Stringent government regulations in developing regions

3.3.2.3    Insufficient healthcare infrastructures in Latin America

3.3.2.4    Lack of awareness regarding new minimally invasive surgical procedures and inadequate medical facilities in MEA

3.4    Growth potential analysis

3.4.1    By product

3.4.2    By surgical approach

3.4.3    By application

3.4.4    By end-use

3.5    COVID-19 impact analysis

3.6    Regulatory landscape

3.6.1    U.S.

3.6.2    Europe

3.7    Porter’s analysis

3.8    Competitive landscape, 2019

3.8.1    Competitive matrix analysis, 2019

3.9    PESTEL analysis

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