Transcatheter Aortic Valve Implantation (TAVI) Market Study:
The global transcatheter aortic valve implantation market was valued at $4,559 million in 2020, and is estimated to reach $16,937 million by 2030, growing at a CAGR of 14.0% from 2021 to 2030. Transcatheter aortic valve implantation is defined as a minimally invasive procedure in which a narrowed aortic valve is replace and it is an open heart surgery. It is used for the treatment of aortic stenosis.
Aortic stenosis is a disease in which an aortic valve does not open fully will restrict blood flow. An aorta is a large artery which carries blood from heart to rest of the body. These high-risk patients refer to the patient population that are inoperable and cannot undergo surgical aortic valve replacement (SAVR) procedure. Older population (above 75 years of age) falls under the high-risk category, as the open-heart procedure is too risky for them. TAVR involves implantation of transcatheter aortic valves to regenerate the blood circulation ability of the aortic valve. The need of transcatheter aortic valve implantation is on the rise due to the increase in prevalence of aortic stenosis.
Growth of the transcatheter aortic valve implantation market is majorly driven by increase in prevalence of aortic stenosis, rise in demand for various TAVI procedures, and advancements in technologies in the field of transcatheter aortic valve implantation. In addition, rise in geriatric population fuels the TAVI market growth, owing to the fact that aged individuals are more susceptible to aortic stenosis. In addition, technological advancements in TAVI valve and rise in awareness regarding early diagnosis propel the growth of the market.
However, stringent government regulations for approval of transcatheter aortic valves, which are class III medical devices, and high cost associated with TAVI hamper the market growth. Conversely, use of TAVI systems for new indications, rise in healthcare expenditure in emerging economies, and increase in interest of key players in the global transcatheter aortic valve implantation (TAVI) industry are projected to provide several growth opportunities for the market throughout the forecast period.
Transcatheter Aortic Valve Implantation (TAVI) Market Segmentation
The global transcatheter aortic valve implantation market is segmented into procedure type, and region. By procedure, the market is categorized into transfemoral subclavian procedure, and others.
Region-wise, the TAVI market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Switzerland, and rest of Europe), Asia-Pacific (Japan, China, India, and rest of Asia-Pacific), and LAMEA (Brazil, Israel Saudi Arabia, South Africa, and rest of LAMEA).
Segment Review
Depending on procedure, the transfemoral, segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to positive outcomes. However, this implantation has some complications due to greater distance of insertion from the aortic valve.
Transfemoral implantation is stated as the standardized TAVI procedure, where in artificial valve is implanted through the femoral artery with minimal anesthesia. However, there are several patients, who have weak and small arteries, so are unable to undergo transfemoral TAVI. In this case, transapical implantation is preferred, wherein the artificial valve is inserted through the left ventricular apex. Furthermore, transaortic implantation is developed for patients who have weak femoral arteries and poor respiratory function, which makes them unsuitable for transfemoral as well as transapical TAVI procedure as well.
Europe garnered a major share in the transcatheter aortic valve implantation market in 2020, and is expected to continue to dominate during the forecast period, owing to presence of key players, developed healthcare sector, and advancement in technology for TAVI valve in the region. The growth in the European TAVI market is attributed to the increase in prevalence of severe aortic stenosis cases coupled with the growth in high-risk patients and the rise in awareness among patients and physicians about the availability of advanced transcatheter aortic valves. In addition, favorable reimbursement policies in certain European nations is the key to increase the adoption of TAVI procedures in this region.
Germany accounted for the maximum number of the TAVI procedures in the whole Europe. In addition, supportive regulations for the TAVI devices in the country are projected to propel the market growth. The prevalence of symptomatic aortic stenosis is substantial in the UK and is expected to grow in future due to the growth in the number of high-risk aortic stenosis patients in the country. This number is expected to increase due to changes in lifestyles of the people, which include unhealthy dietary habits, lack of physical activity, and smoking. In addition, favorable reimbursement scenario of the UK further propels the TAVI market.
By Procedure Type
Transfemoral segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Asia-Pacific is expected to register the highest CAGR over forecast period, owing to increase in prevalence of aortic stenosis diseases, developing healthcare infrastructure, and rise in awareness related to transcatheter aortic valve implantation. Asia-Pacific offer lucrative opportunities for players operating in the transcatheter aortic valve implantation market, attributable to its large population base along with several cardiovascular, & lifestyle diseases. Moreover, increase in number of transfemoral TAVI procedures in emerging economies such as India and China are the major factors that boost the market growth.
Conversely, lesser availability of transcatheter aortic valve implantation services and lower diagnostic yield, especially in remote areas of emerging nations, is expected to hinder the market growth. Furthermore, insurance companies do not completely cover treatment expenses for transcatheter aortic valve implantation services in the region, which is expected to restrain the market growth in Asia-Pacific.
By Region
North America is expected to experience growth at the highest rate, registering a CAGR of 14.10 % during the forecast period.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the transcatheter aortic valve implantation (TAVI) market, and the current trends & future estimations to elucidate imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing TAVI market opportunities.
- Extensive analysis of the market based on procedures and region assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
Transcatheter Aortic Valve Implantation (TAVI) Market Report Highlights
| Aspects | Details |
 By Procedure |
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 By Region |
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 By Key Market Players |
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Analyst Review
Rise in demand for TAVI procedure is due to increase in prevalence of symptomatic aortic stenosis coupled with expanding population of high risk or inoperable patients. Furthermore, the key players of the market aim to develop technologically advanced transcatheter aortic valves with increased clinical indications. Moreover, Europe is projected to be the highest revenue contributor, whereas Asia-Pacific is expected to offer lucrative opportunities to the key players in this market.
Rise in geriatric population prone to aortic stenosis, technological advancements in transcatheter aortic valves, and increased adoption rate of TAVI procedure are some of the major factors that drive the TAVI market. However, stringent regulatory norms of the government hamper the market growth. Currently, transfemoral implantation segment occupies the largest share in the global TAVI market, followed by subclavian implantation. Europe is expected to dominate the global TAVI market during the forecast period, followed by North America.
The total market value of transcatheter aortic valve implantation market is $4,558.5 million in 2020.
The forcast period for transcatheter aortic valve implantation market is 2021 to 2030
The market value of transcatheter aortic valve implantation market in 2021 is $5,214.6 million.
The base year is 2020 in transcatheter aortic valve implantation market.
Top companies such as Abbott Laboratories, Blue Sail Medical, Boston Scientific Corporation, Bracco, Edward Life Sciences, JC Medical, JenaValve, Medtronic Plc, Meril Life Sciences and Venus MedTech held a high market position in 2020.
Transfemoral segment is the most influencing segment owing to increase in standard care for aortic stenosis, it is a less invasive procedure and offers shortened recovery time.
Increase in the prevalence of aortic stenosis, advancements in the transcatheter aortic valves and increase in adoption rate of TAVI devices.
Asia-Pacific is expected to experience the highest growth rate during the forecast period, owing to presence of ample of growth opportunities in terms of unmet medical needs for the treatment of aortic stenosis in this region.
Transcatheter aortic valve implantation (TAVI), also called as transcatheter aortic valve replacement (TAVR), is a minimally invasive surgical procedure, which is performed to treat high-risk patients suffering from aortic stenosis.
Transcatheter aortic valve implantation is a minimally invasive heart procedure to replace thickened aortic valve. TAVI helps to restore blood flow and reduce the signs and symptoms of aortic valve stenosis such as shortness of breath, fainting and fatigue and, chest pain.
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