TORONTO--(BUSINESS WIRE)--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, approximately 80 percent of Transcatheter Aortic Valve Replacement (TAVR) procedures are being performed on high-risk patients who are ineligible for surgical heart valve replacement. New clinical evidence that supports TAVR in treatment of intermediate and high-risk operable patients has led to expanded reimbursement for a new patient base for the procedure. The inclusion of these patients will fuel much of the growth of the TAVR market in Europe over the next four years. The market will grow by 60 percent between 2012 and 2016, following 30 percent growth from 2011 to 2012. The European TAVR market will have a total value of $650 million dollars by 2016.
Market revenue growth over the next four years will be tempered by new devices entering the market, resulting in price competition. St Jude Medical’s Portico valve is launching now and Boston Scientific’s Lotus valve is anticipated by the second half of 2013. The resulting increased competition will negatively affect device pricing.
These results can be found in MRG’s European Structural Heart Marketrack. This study tracks procedures and device use for Transcatheter Aortic Valve Repair (TAVR / TAVI), Left Atrial Appendage Closure, Transcatheter Mitral Valve Repair (TMVR) and Patent Foramen Ovale Closure (PFO) in France, Germany, Italy, Spain and the United Kingdom. This study tracks device market size, price per device and brand usage on a quarterly basis.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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