Transcatheter Heart Valve Replacement Systems Market Size - Global Industry, Share, Analysis, Trends and Forecast 2023 - 2032

The Transcatheter Heart Valve Replacement Systems Market Size accounted for USD 5.1 Billion in 2022 and is estimated to achieve a market size of USD 14.7 Billion by 2032 growing at a CAGR of 11.4% from 2023 to 2032.

Transcatheter Heart Valve Replacement Systems Market Highlights

• Global transcatheter heart valve replacement systems market revenue is poised to garner USD 14.7 billion by 2032 with a CAGR of 11.4% from 2023 to 2032
• North America transcatheter heart valve replacement systems market value occupied around USD 1.9 billion in 2022
• Asia-Pacific transcatheter heart valve replacement systems market growth will record a CAGR of more than 12% from 2023 to 2032
• Among end use, the hospitals sub-segment generated over US$ 4.3 billion revenue in 2022
• Based on surgical approach, the transfemoral approach sub-segment generated around 54% share in 2022
• Collaborations and partnerships among key market players is a popular transcatheter heart valve replacement systems market trend that fuels the industry demand

A heart valve is found in both the arteries and veins and allows blood to flow through the heart in one direction. The heart has four main valves: two atrioventricular valves, known as the tricuspid valve, and two semilunar valves. These valves separate the atria, ventricles, and blood vessels. When blood flows, a heart valve opens to permit it and closes to prevent blood from flowing backward. This closure is tightly sealed by nodules at the end of the cusps, which are the leaflets of the heart valve. Valvular heart disease results from dysfunction of the heart valve and comes in two types: regurgitation or valve failure, where blood flows in the wrong direction due to heart dysfunction, and valve stenosis (such as severe aortic stenosis). In cases of damaged or defective heart valves, they can be repaired or replaced with artificial heart valves. Echocardiography is used to diagnose valvular heart disease. Transcatheter aortic valve replacement, also known as transcatheter aortic valve implantation, is one procedure used to treat damaged heart valves.

Global Transcatheter Heart Valve Replacement Systems Market Dynamics

Market Drivers

• Increasing prevalence of cardiovascular diseases
• Technological advancements in transcatheter heart valve replacement systems
• Growing adoption of minimally invasive procedures
• Rising geriatric population globally

Market Restraints

• High cost associated with transcatheter heart valve replacement procedures
• Limited reimbursement policies
• Stringent regulatory approval processes

Market Opportunities

• Expanding applications in emerging economies
• Growing awareness about cardiovascular health
• Development of novel transcatheter heart valve replacement devices

Transcatheter Heart Valve Replacement Systems Market Report Coverage

Transcatheter Heart Valve Replacement Systems Market Insights

The prevalence of cardiovascular disease among individuals over 65 years of age is a significant health concern, affecting a majority of this demographic. Globally, approximately 5% of individuals aged 65 and above face the risk of developing heart disease, highlighting the widespread impact of this condition within the elderly population. Without timely intervention such as valve replacement or repair, the prognosis for patients with cardiovascular disease can be dire, with a staggering 50% facing fatal outcomes.

Transcatheter cardiovascular valves offer a crucial alternative for patients deemed unsuitable candidates for traditional open-heart surgery due to the presence of life-threatening risks. One notable application is transcatheter aortic valve replacement, particularly beneficial for individuals with comorbidities such as heart, lung, kidney disease, or diabetes, where complications from open-heart surgery may pose substantial challenges. Studies have demonstrated notably higher survival rates among patients undergoing transcatheter aortic valve replacement compared to conventional procedures.

Moreover, the recovery period following transcatheter heart valve insertion is significantly abbreviated, typically lasting 7 to 8 days less than traditional surgical methods. Despite these advantages, inherent risks accompany the transcatheter aortic valve replacement process. These include constraints within the transcatheter heart valve market, potential issues related to valve replacement and slippage, and a heightened risk of complications such as blood vessel tearing and infection during the procedure. Thus, while transcatheter cardiovascular valves offer promising advancements in cardiac care, it's imperative to address and mitigate associated risks to ensure optimal patient outcomes and continued advancements in minimally invasive cardiac interventions.

Transcatheter Heart Valve Replacement Systems Market Segmentation

The worldwide market for transcatheter heart valve replacement systems is split based on product, surgical approach, application, end use, and geography.

Transcatheter Heart Valve Replacement Systems Products

• Transcatheter Aortic Valve Replacement
• Transcatheter Pulmonary Valve Replacement
• Transcatheter Mitral Valve
  • Mitral Valve Replacement
  • Mitral Valve Repair

According to transcatheter heart valve replacement systems industry analysis, the transcatheter aortic valve replacement was estimated to be around USD 4.3 billion in 2022. The higher prevalence of aortic valve disease is expected to drive an increasing number of aortic valve transcatheter substitutions. Recent statistics indicate a growing geriatric population at risk of aortic stenosis, with an estimated 2.5 million individuals in the United States over the age of 75 projected to experience this disease.

The increased demand for aortic transcatheter valves and adoption rates will enhance business growth. Over the transcatheter heart valve replacement systems industry forecast period, the mitral valve market is expected to grow rapidly by more than 27%. This growth is fueled by the increasing prevalence of serious mitral annular calcifications, failures of bio-prosthetic surgeries, and unsuccessful operative rings, which have heightened the demand for mitral valves.

Additionally, recent technological developments and new product developments are expected to contribute significantly to the growth of the mitral valve transcatheter market in the coming years.

Transcatheter Heart Valve Replacement Systems Surgical Approach

• Transfemoral Approach
• Transaortic Approach
• Transapical Approach

In 2022, approximately US$ 2.7 billion was estimated in the market for the transfemoral approach. Rapid technological advancements in transcatheter heart valve replacement have led to minimally invasive procedures such as the transfemoral approach, aimed at reducing surgery complications and maximizing survival rates. Consequently, the transfemoral approach has become the preferred method for replacing coronary valves transcatheter, thus fostering business growth in the foreseeable future.

A strong compound annual growth rate (CAGR) of around 14% is projected to expand over the transcatheter heart valve replacement systems market forecast period in the transaortic approach market. The increasing number of individuals with severe symptomatic aortic stenosis who are ineligible for surgery will, in turn, drive the demand for aortic valve replacement approaches, thereby boosting adoption rates and expanding the market.

Transcatheter Heart Valve Replacement Systems Applications

• Aortic Valvular Heart Disease
  • Aortic Valve Stenosis
  • Aortic Valve Regurgitation
• Pulmonary Valvular Heart Disease
• Mitral Valvular Heart Disease
  • Mitral Valve Stenosis
  • Mitral Valve Regurgitation

In terms of transcatheter heart valve replacement systems market analysis, The use of transcatheter heart valves for aortic valve disorders was estimated to be significant in 2022. The increasing geriatric population is leading to a rise in aortic valvular heart disease, as they are more prone to cardiovascular and other chronic diseases. Recent research indicates that among individuals over 70 years of age, high blood pressure is the next most prevalent condition after heart failure and coronary artery disease. The increasing prevalence of several chronic heart problems is expected to drive the utilization of transcatheter cardiac valves, thereby fueling business growth in the coming years.

Transcatheter heart valve applications for mitral valve disorders are projected to increase over the forecast timeframe at a lucrative compound annual growth rate (CAGR) of around 13%. The Asia-Pacific and Latin America development regions are witnessing a transition to a Western lifestyle in many countries, characterized by diets high in fat and an increase in cardiovascular diseases due to economic development.

Transcatheter Heart Valve Replacement Systems End Uses

• Ambulatory Surgical Centers
• Hospitals
• Cardiac Centers

In hospitals, the use of transcatheter heart valves in 2022 was estimated to be significant. The high market share can be attributed to the availability of state-of-the-art hospital facilities. Valve substitution procedures are typically conducted in hospitals due to the complexity of these operations and the assurance provided by adequate medical facilities. With a Compound Annual Growth Rate (CAGR) of around 14% over the projected period, the usage of transcatheter cardiac valves in heart centers demonstrates impressive growth. Cardiac centers are expected to capture a substantial market share in the coming years, offering the necessary medical facilities for treating heart valve transcatheter diseases. These centers are specifically designed for the diagnosis and treatment of cardiovascular diseases.

Transcatheter Heart Valve Replacement Systems Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Transcatheter Heart Valve Replacement Systems Market Regional Analysis

In 2022, the North America dominated the market for heart valve replacement transcatheters. Valve disease is one of the most common cardiovascular disorders in the American population. The growth of the market will be driven by an increase in the number of people in the country with valve heart disease. Favorable reimbursement policies and the presence of key market players will further enhance the region's heart valve replacement market.

It is estimated that India's heart valve substitution market will increase significantly over the predicted period at a compound annual growth rate (CAGR) of 15.0%. Factors such as the increasing geriatric population, rising numbers of people with valvular heart disease, growing public awareness of heart valve transcatheter therapy, and an increase in healthcare expenditure will drive the country's business growth in the years to come.

Transcatheter Heart Valve Replacement Systems Market Players

Some of the top transcatheter heart valve replacement systems companies offered in our report includes Edwards Lifesciences Corporation, Abbott, JenaValve Technology, Inc, Medtronic, Sahajanand Medical Technologies Limited, Boston Scientific Corporation, Meril Life Sciences, Venus Medtech (Hangzhou) Inc., MicroPort Scientific Corporation, Blue Sail Medical Co., Ltd., Peijia Medical Limited, Suzhou Jiecheng Medical Technology Co. Ltd.