Global Transcatheter Aortic Valve Replacement (TAVR) Market size and share is currently valued at USD 6.78 billion in 2024 and is anticipated to generate an estimated revenue of USD 12.91 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 6.7% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 - 2034
Market Overview
TAVR, also known as Transcatheter Aortic Valve Implantation (TAVI), is a catheter-based procedure that offers a less invasive alternative to traditional open-heart surgery for patients with severe aortic stenosis. This procedure is particularly beneficial for high-risk patients who may not be suitable candidates for conventional surgery. The growing preference for minimally invasive heart surgery has significantly contributed to the adoption of TAVR procedures worldwide.
The increasing aging population is a major driver of the TAVR market. According to the World Health Organization, the proportion of the global population aged 60 years and older is expected to double by 2050, reaching approximately 2.1 billion. This demographic shift is anticipated to lead to a higher incidence of aortic stenosis, thereby increasing the demand for TAVR procedures .
Market Segmentation
The TAVR market can be segmented based on implantation procedure, material, mechanism, and end-use.
Implantation Procedure
Transfemoral: This approach held the largest market share of 51.5% in 2024. It is the most commonly performed procedure due to its less invasive nature and reduced recovery time .
Transapical and Transaortic: These approaches are used when the transfemoral route is not feasible, offering alternatives for patients with specific anatomical considerations.
Material
Nitinol: Known for its strong biological and elastic properties, nitinol accounted for 35.3% of the market share in 2024, making it an ideal material for transcatheter heart valves .
Mechanism
Balloon-Expandable Valves: This segment held the largest market share of 55.7% in 2024. Balloon-expandable valves are favored for their ease of deployment and suitability for patients with complex vascular anatomies .
Self-Expandable Valves: These valves are gaining popularity due to their supra-annular design, providing a larger effective orifice area and lower gradients, which are beneficial for patients with larger annuli.
End-Use
Hospitals: Hospitals accounted for 88.0% of the market share in 2024. The increasing number of TAVR procedures performed in hospital settings, coupled with favorable reimbursement scenarios, has contributed to this dominance .
Regional Analysis
North America
North America dominated the global TAVR market with a share of around 38.7% in 2024. The region's well-established healthcare infrastructure, increasing prevalence of heart valve diseases, and favorable reimbursement policies have been pivotal in driving market growth .
Europe
Europe is anticipated to witness the fastest growth during the forecast period. Factors such as a rapidly aging population, robust healthcare infrastructure, and favorable reimbursement policies across various countries are contributing to the region's market expansion .
Asia-Pacific
The Asia-Pacific region is experiencing significant growth, driven by the increasing elderly population and rising awareness of minimally invasive heart surgery. Countries like China and India are emerging as key markets due to improving healthcare infrastructure and increasing investments in cardiac care .
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Key Companies
Several key players are actively contributing to the growth of the TAVR market through product innovations, strategic partnerships, and expansions.
Edwards Lifesciences Corporation: A pioneer in the TAVR market, Edwards Lifesciences continues to lead with its SAPIEN valve series. The company reported TAVR sales of $1.04 billion in Q4 2024, marking a 6% year-over-year increase .
Medtronic plc: Medtronic's Evolut series of self-expanding valves has been instrumental in expanding the company's TAVR portfolio. In March 2024, the FDA approved the Evolut FX+ TAVR system for treating symptomatic severe aortic stenosis .
Boston Scientific Corporation: The company received CE Mark approval for its Acurate Prime TAVR system in August 2024, designed for patients with severe aortic stenosis .
Abbott Laboratories: Abbott launched the Navitor TAVI system in India in December 2022, offering best-in-class deliverability and access through small vessels .
JenaValve Technology, Inc.: Specializing in TAVR systems for aortic regurgitation, JenaValve entered into a strategic partnership with egnite, Inc. in June 2023 to enhance patient care models and outcomes .
Conclusion
The global TAVR market is poised for substantial growth, driven by demographic shifts, technological advancements, and increasing adoption of catheter-based procedures. As the market continues to evolve, collaborations between key players and ongoing innovations in structural heart devices will play a crucial role in shaping the future of aortic valve replacement therapies.
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