Rising Prevalence of Lifestyle-related Heart Diseases Pushing Demand for Transcatheter Heart Valve Replacement Procedures: Fact.MR Report
ROCKVILLE, MD, UNITED STATES, July 31, 2024 /
EINPresswire.com/ -- In recent years, prevalence of cardiovascular diseases has increased, leading to a surge in the demand for medical equipment such as valve replacement devices. The global
transcatheter heart valve replacement market is estimated to reach US$ 5.31 billion in 2024 and thereafter expand at a CAGR of 13.9% from 2024 to 2034.
There has been a consistent and notable increase in the need for transcatheter aortic replacement procedures, driven by the detrimental effects of poor dietary habits on cardiac health, which can lead to conditions like atherosclerosis. Over time, the accumulation of calcium in the aortic valve worsens these issues.
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Individuals suffering from these cardiovascular conditions often rely on transcatheter interventions to reduce the build-up of calcium deposits in their valves. Consequently, there has been a surge in demand for transcatheter heart valve replacement procedures. Suppliers are actively responding to this demand by offering a range of transcatheter options that are not only cost-effective but also highly efficient in addressing cardiac issues.
In the production of these advanced TAVR devices, manufacturers commonly use biological valves derived from the hearts of cows or pigs. These devices are then made available to patients with a variety of heart-related ailments, further highlighting the importance of transcatheter interventions in modern cardiology.
Top of FormKey Takeaways from Market Study
The global transcatheter heart valve replacement market is projected to expand at a CAGR of 13.9% through 2034. Global sales of transcatheter heart valve replacement devices are estimated at US$ 5.31 billion in 2024.
The market is forecasted to reach US$ 19.43 billion by 2034-end. The North American market is forecasted to expand at a CAGR of 14.1% through 2034.
Transcatheter mitral valve replacement devices are estimated to account for 80.9% market share in 2024. East Asia is projected to account for 9.1% of the global market share by 2034.
“Need for transcatheter heart valve replacement is growing due to factors such as rising demand from aortic valve stenosis, preference for minimally invasive procedures, and increasing biological valve usage,” says a Fact.MR analyst.
Technological Advancements in Transcatheter Heart Valve Replacement Leading to Improved Patient Outcomes
As more individuals select TAVR treatments, adoption of new imaging technologies is growing. The market is forecasted to expand due to ongoing technological advancements. This surge in demand places increased pressure on suppliers. With the escalating prevalence of heart disease, rapid market expansion is projected. These advancements aim to meet the rising demand, particularly from health-conscious individuals, driving further market growth.
Competitive Landscape
Key players in the transcatheter heart valve replacement market, including Braile Biomedica, Edwards Lifesciences Corporation, and Cook Medical Inc., are increasingly focusing on mergers and acquisitions to solidify their market presence. These companies are also investing in strategic partnerships with competitors in related fields. They are adapting to evolving market trends in transcatheter heart valve replacement, such as advancements in heart attack diagnostics and heart monitoring devices.
In September 2022, Edwards Lifesciences launched the Sapien 3 Ultra Resilia Valve, following FDA clearance. This introduction marked the availability of the first dry-storage transcatheter heart valve in the United States.
Similarly, Medtronic gained approval for its Evolut PRO TAVR System in January 2022 for the treatment of severe aortic stenosis in China. As the population in China continues to age, the prevalence of this condition is expected to increase, highlighting the growing need for advanced medical solutions.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the transcatheter heart valve replacement market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product (transcatheter aortic valve replacement [TAVR], transcatheter mitral valve repair [TMVR]), indication (severe aortic valve stenosis, valve-in-valve procedures (failed bioprosthesis), aortic regurgitation), and end user (hospitals, independent cardiac catheterization labs, ambulatory surgical centers), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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Heart Valve Repair and Replacement Market: Size is estimated to be valued at US$ 8,548.5 million in 2024. The market is expected to register a CAGR of 10.0% through 2034. Anticipated growth is set to propel the market to an impressive size of US$ 22,252.4 million by 2034.
Heart Attack Diagnostics Market: Share is predicted to grow at a moderate CAGR of 7.1% during the forecast period of 2023 to 2033. The global heart attack diagnostics market is estimated to reach a value of nearly US$ 23.8 Billion by 2033 growing from US$ 12 Billion in 2023.
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