The report segments the global transcatheter heart valves market by product (TAV and TMV), by end-user (hospitals, ASCs, and specialty cardiac centers), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global transcatheter heart valves market, according to Technavio healthcare and life sciences researchers:
- Growing prevalence of mitral regurgitation and aortic stenosis: a major market driver
- New product launches coupled with R&D activities: emerging market trend
- In 2017, EMEA accounted for the highest share in the global transcatheter heart valves market
- In 2017, the TAV sector held 70% share of the market
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Growing prevalence of mitral regurgitation and aortic stenosis: a major market driver
The growing prevalence of mitral regurgitation and aortic stenosis is one of the major factors driving the global transcatheter heart valves market. The increasing prevalence of various heart diseases such as cardio valvular diseases, mitral regurgitation, and aortic stenosis require valve replacement is driving the sales of transcatheter heart valves. Furthermore, prosthetic valve thrombosis, mechanical hemolytic anemia, prosthetic valve endocarditis, and thromboembolism are some of the other complications indirectly contributing toward market growth. The significant mitral regurgitation is rarely found among the general population. Such conditions usually arise because of an abnormality in the heart valve or other related conditions. These conditions drive the need for valve replacement at the later stage, thereby fueling market growth.
According to a senior analyst at Technavio for research on cardiovascular devices, “Aortic valve stenosis or aortic stenosis is one of the key factors driving the demand for transcatheter heart valves. As the aortic stenosis will narrow the normal valves and restrict their normal activity, the replacement or repair of the abnormal heart valve is necessary.”
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New product launches coupled with R&D activities: emerging market trend
The vendors are strategically concentrating on the development and fast approvals of the new transcatheter heart valve. New product development, coupled with R&D activities assists the vendors in sustaining their position within fragmented transcatheter heart valves market and to improve their growth. The vendors are actively involved in launching innovative devices for improving the clinical outcomes of the transcatheter heart valves such as MRI-enabled heart valves for greater visualization. The market is fragmented, and the vendors are striving to remain competitive in the global market. The top key players occupy most of the shares, but the leadership of these vendors varies within the product segment.
Global market opportunities
In 2017, EMEA accounted for the highest share in the global transcatheter heart valves market with around 41% of the total market share. Germany, the UK, France, Italy, and Spain were the key revenue contributors to the market in EMEA. The markets in these countries have been witnessing an impressive growth rate. The reason for this continuous growth rate is the increase in heart-related disorders such as aortic stenosis and mitral regurgitation, coupled with growing elderly population. The growing geriatric population in EMEA, along with growing demand for transcatheter heart valves, has significantly supported market growth.
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