The size of the North American Transcatheter Aortic Valve Replacement Market is forecasted to grow USD 1.57 billion by 2022 from USD 0.72 billion in 2022, growing at a CAGR of 16.80% between 2022 to 2027.
Most doctors have accepted the TAVR procedure due to its positive results recorded over the past several years. Transcatheter aortic valve replacement is indicated in several disorders such as aortic valve stenosis, arrhythmias, regurgitation, aortic valve, and sternotomy. The rising prevalence of cardiovascular diseases along with increasing technological development is driving the North American TAVR market. Aortic stenosis is one of the most common types of aortic valve problems seen in Americans, with over 1.29 million Americans, mainly over the age of 65, having calcified aortic valves. According to data from the National Health and Nutrition Examination Survey report, approximately 6.28 million U.S. adults aged ≥20 years suffered from heart failure between 2014 and 2017, compared with about 5.8 million between 2010 and 2013.
For decades, open-heart aortic valve replacement has been the standard treatment for severe aortic stenosis. Still, recently TAVR has rapidly replaced open heart surgery for severe aortic stenosis in aged people. According to a report by the American College of Cardiology Registry, the number of cases has increased every year. In 2019, TAVR surpassed all forms of aortic valve replacement. More than 5.8 million Americans suffer from heart failure, and there are approximately 916,000 new patients diagnosed with the disease each year. Since the aortic valve catheter replacement (TAVR) procedure was approved in 2011, more than 276,500 patients have undergone the TAVR procedure in the United States. All the statistics mentioned above are estimated to increase in the years, which grows the demand for TAVR during the forecast period.
The preference of TAVR is dependent on the clinical success in low-risk patients. While this is a good alternative but there is less data on the longer-term effects post-procedure. Many surgeons are still limiting the number of patients undergoing the procedure. Selected patients are monitored for the long-term durability of the valve over ten years to watch out for any complications. Hence the main limiting factor for the slow growth of the market is the lack of clinical data on long-term sustainability.
This research report on the North American TAVR Market has been segmented and sub-segmented into the following categories:
By Surgery Method:
By Valve Material:
By Valve Size:
By Valve Leaflets Material:
By End Users:
By Country:
The United States dominated the North America Aortic Valve Catheter Replacement (TAVR) market in 2020, followed by Canada. The regional market in the U.S. can be attributed to the increasing incidence of cardiovascular disease disorders in the region. Cardiovascular disease (CVD) is the leading cause of death in the United States, recorded over 845,000 deaths. Between 2014 and 2017, over 123 million American adults suffered from cardiovascular disease. In addition, according to the American Heart Association, an estimated 117million or 46.5% of American adults suffer from hypertension. According to the American College of Cardiology Journal, over 25,000 transcatheter valve replacement procedures were performed in the United States in 2016. That number is expected to reach 150,000 procedures by 2027. These factors drive the market in the United States during the projected period.
Canada is also anticipated to grow at a healthy CAGR over the forecast period. The growth can be due to technologically advanced products, favorable reimbursement policies, and a large senior population. About 1 in 12 Canadian adults or over 2.55 million above 20 years of age are suffering from heart disease and receiving treatment for it. Every hour, about 12 Canadian adults aged 20 and over die from diagnosed heart disease. Additionally, increasing mergers and acquisitions among the major players and favorable reimbursement policies are some of the factors boosting the growth of the studied market in Canada.
KEY MARKET PLAYERS:
Companies playing a dominant role in the North America Transcatheter Aortic Valve Replacement Market profiled in this report are Edwards Lifesciences Corporation (U.S.), Medtronic, Inc. (Ireland), Boston Scientific Corporation (U.S.), Abbott Laboratories (U.S.), St. Jude Medical Inc. (U.S.), JenaValve Technology, Inc. (Germany), Symetis SA (Switzerland), Direct Flow Medical, Inc. (U.S.), Sorin Group (Italy), Meril Life Sciences India Pvt Ltd (India) and Braile Biomedica (Brazil).
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Introduction
5.2 Surgery Method
5.2.1 Introduction
5.2.2 Transfemoral Implantation
5.2.3 Transapical Implantation
5.2.4 Transaortic Implantation
5.2.5 Transcaval Implantation
5.3 Valve Material
5.3.1 Introduction
5.3.2 Nitinol
5.3.3 Stainless Steel
5.3.4 Cobalt-Chromium
5.4 Valve Size
5.4.1 Introduction
5.4.2 14mm to 18 mm
5.4.3 18mm to 22 mm
5.4.4 22mm to 29mm
5.5 Valve Leaflets Material
5.5.1 Introduction
5.5.2 Bovine Heart Tissue
5.5.3 Cow Heart Tissue
5.5.4 Other Valve Leaflets Material
5.6 End Users
5.6.1 Introduction
5.6.2 Hospitals
5.6.3 Ambulatory Surgical Centres
5.6.4 Cardiac Catheterization Laboratories
6. Geographical Analysis
6.1 Introduction
6.2 United States
6.3 Canada
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Edwards Lifesciences Corporation (U.S.)
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Medtronic, Inc. (Ireland)
8.3 Boston Scientific Corporation (U.S.)
8.4 Abbott Laboratories (U.S.)
8.5 St. Jude Medical Inc. (U.S.)
8.6 JenaValve Technology, Inc. (Germany)
8.7 Symetis SA (Switzerland)
8.8 Direct Flow Medical, Inc. (U.S.)
8.9 Sorin Group (Italy)
8.10 Meril Life Sciences India Pvt Ltd (India)
8.11 Braile Biomedica (Brazil)
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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