Latin America TAVR Market

Latin America TAVR Market Size (2022 to 2027)

The size of the Latin America Transcatheter Aortic Valve Replacement Market is expected to reach USD 0.64 billion by 2027 from 0.25 billion in 2022, growing at a CAGR of 20.30% between 2022 to 2027.

Transcatheter heart valve replacement systems are known as cardiovascular devices which replace old and damaged valves. TAVR is used to treat aortic valve disorders such as severe aortic stenosis, degeneration, and regurgitation. These cardiovascular disorders are seen in the older population. According to the World Health Organization (WHO), it has been estimated that the number of people with cardiovascular disease will increase to 22.25 million by 2030. The rapid aging of the population and the growing demand for medical tourism, increasing number of product launches, government initiatives for awareness, and high incidence of cardiovascular diseases are driving the growth of the aortic valve catheter replacement (TAVR) market in the Latin American region.

The research and development sector coupled with recorded data supports the preference of TAVR over conventional surgical AVR. The retrograde catheter aortic valve replacement procedure is the most common catheter approach and is performed in approximately 70% to 80% of all cases of TAVR worldwide. Although surgical aortic valve replacement is considered the standard treatment, 30% of patients are not considered candidates for traditional open-heart surgery due to advanced age and the presence of multiple co-morbidities. TAVR offers this population a less invasive treatment option also with better results. Over the past few years, the Latin American TAVR market has grown rapidly, mainly due to the ease in device approvals, increased public funding for the research and development sector associated with cardiology, and health expenditure in developing countries. The incidence of surgery for degenerative valve disease was higher in people over 60 years of age. The private sector primarily funded the proceedings, which increased the demand for aortic valve replacement procedures in the years to come.

The high cost of catheter-based heart valve devices in developing and underdeveloped countries has resulted in inadequate facilities in several regions. Additionally, the lack of trained professionals due to the absence of specialty training and educational institutes in some regions of developing countries and the lack of awareness of the populations to the latest technological innovations is estimated to slow down the market's growth rate.

This research report on the Latin America TAVR Market has been segmented and sub-segmented into the following categories:

By Surgery Method:

• Transfemoral Implantation
• Transapical Implantation
• Transaortic Implantation
• Transvaal Implantation                  

By Valve Material:

• Nitinol
• Stainless Steel
• Cobalt-Chromium              

By Valve Size:

• 14mm to 18 mm
• 18mm to 22 mm
• 22mm to 29mm                    

By Valve Leaflets Material:

• Bovine Heart Tissue
• Cow Heart Tissue
• Other Valve Leaflets Material                       

By End Users:

• Hospitals
• Ambulatory Surgical Centres
• Cardiac Catheterization Laboratories     

By Country:

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America

Geographically, the Brazilian market is estimated to dominate the Latin America aortic valve catheter replacement market during the forecast period due to the high number of severe aortic stenosis patients, preference for minimally invasive surgery, and favorable reimbursement policies in the region. The total number of valve surgeries, including those associated with myocardial revascularization, multiple valve replacement, and implantation of valve prostheses, peaked at 11,330 procedures in 2013. Of these, only about 62% would be eligible for TAVR, with 20% of them being inoperable or needing intermediate interventions or high-risk patients. Of these, only about 60% would qualify for TAVR, with 20% of patients inoperable or at intermediate or high risk. Thus, the studied market is expected to experience remarkable growth in the predicted years.

Rapid urbanization has brought about a change in lifestyle, diet, risky behaviors, and cultural attitudes of the Latin American population. Regional markets in Argentina, Mexico, Peru, and Columbia are anticipated to have reasonable growth rates. For people over 75 years of age, the prevalence of severe aortic stenosis is 3%. More than one in eight people over 75 have moderate or severe valvar heart disease in Latin America. These regions will experience growth due to increased medical awareness, increased healthcare development investment, and accelerated economic growth. In addition, the high adoption of technologically advanced devices is a factor that attributes to the growth of the growing demand for Aortic Valve Replacement Catheter (TAVR) procedures in Latin America.

KEY MARKET PLAYERS:

Companies such as Edwards Lifesciences Corporation, Medtronic, Inc., Boston Scientific Corporation, Abbott Laboratories, St. Jude Medical Inc., JenaValve Technology, Inc., Symetis SA, Direct Flow Medical, Inc., Sorin Group, Meril Life Sciences India Pvt Ltd and Braile Biomedica (Brazil) are dominating the Latin America TAVR Market.