Located between the left ventricle and the aorta, sits an essential valve known as the aortic heart valve. Typically, problems associated with the valves are designated as either aortic stenosis and aortic insufficiency. Aortic stenosis occurs when the aortic valve narrows to the point where blood flow is decreased and impeded upon. On the other hand, aortic insufficiency occurs when the aortic valve becomes leaky and, as a result, causes blood to flow in the wrong direction. In terms of treatment, the primary method for treating aortic heart valve conditions is through the use of open surgery. However, some patients with aortic valve problems are poor candidates for valve replacement surgery and, because of this, transcatheter aortic valve implantation (TAVI) procedures are increasing in popularity.
Below we have outlined and answered a few key questions brought-up in relation to the global TAVI market report surrounding the overall growth and procedural volume growth trends.
IS THE GLOBAL TAVI MARKET EXPERIENCING GROWTH?
Yes, moving into 2027 the global TAVI market is increasing. As expected, the global TAVI market decreased by 1.9% in 2020 due to the global COVID-19 pandemic. However, since COVID-19 has calmed down, the market saw almost a 20% increase into 2021 and is projected to continue increasing into 2027.
Because of this projected trajectory, you may now be wondering what factors are driving this growth. Well, one major driver of the growth within the global TAVI market surrounds the number of units sold. Obviously, there are subsequent factors driving the number of units sold which include the global aging population, competitors in the market, and low-risk patients as caregivers for transcatheter aortic valve implantation.
ARE THE NUMBER OF TAVI PROCEDURES INCREASING INTO THE FUTURE?
Whether this comes as a surprise or not, the numbers of TAVI procedures are increasing and it is exciting to see. Across all of the regions included within iData’s global report (North America, Latin America, Western Europe, Central & Eastern Europe, Middle East, Asia-Pacific, and Africa), impressive growth is projected by 2027.
Again, you may be curious about the factors driving this procedural volume increase. In general, the increase in procedural volume is expected to be powered by the large population of patients who benefit from TAVI, improved diagnostic capabilities, advancements in technology, and the expanding indication for use of TAVI. Although there are several factors acting to drive growth, there are simultaneously factors acting to slow down growth. These limiting factors surround the lack of clinical data on long-term patient outcomes and valve durability, as well as the complex nature of the overall TAVI procedure.
WHICH COMPANIES ARE LEADING THE GLOBAL TAVI MARKET AND TAKING ADVANTAGE OF THE GLOBAL MARKET GROWTH?
Edwards Lifesciences, Medtronic, and Boston Scientific are three companies that are global leaders within the TAVI market. Edwards Lifesciences was the market leader in TAVI devices in the past. In terms of products offered, Edwards Lifesciences produces the SAPIEN 3®, SAPIEN XT®, and CENTERA® transcatheter aortic valves. Following Edwards Lifesciences is Medtronic. Medtronic offers the CoreValve Evolut Pro™ and the CoreValve Evolut R System™. Lastly, Boston Scientific trails both Edwards Lifesciences and Medtronic. Boston Scientific offers the LOTUS™ transcatheter aortic valve.
FURTHER INSIGHTS ON THE GLOBAL TAVI MARKET
All in all, the global TAVI market is increasing in terms of market value and procedural volume. Several factors are working to grow and drive this market while other factors are present with intent of limiting market growth. COVID-19 did have an impact on the global TAVI market, however, this only impacted the value and number of procedures in 2020 and has yet to carry-over into 2021. Edwards Lifesciences, Medtronic, and Boston Scientific are the three leading competitors within the global TAVI market and are working to push the boundaries on innovation.
If you find yourself wanting to dive even deeper into the procedure numbers, units sold, average selling prices (ASPs), market trends, marker drivers, market limiters, and more – view our Global Cardiac Surgery product page which includes an entire segment on TAVI devices or request a complimentary executive summary below.