The global Transcatheter Heart Valve Replacement market size is anticipated to reach USD 10.34 billion by 2026 on account of the increasing number of death cases caused due to cardiac medical conditions worldwide. THVR is a minimally invasive procedure for replacing a narrowed aortic valve which fails to function properly. Most of the THVR products are currently in their investigational stage. Fortune Business Insights™ offers a comprehensive overview of the market in their recent report titled, “Transcatheter Heart Valve Replacement (THVR) Market Size, Share & Industry Analysis, By Product Type (Transcatheter Aortic Valve Replacement (TAVR), Transcatheter Mitral Valve Replacement (TMVR), and Transcatheter Pulmonary Valve Replacement(TPVR)), By End User (Hospitals, and Specialty Clinics& Others), and Regional Forecast, 2019-2026.”According to this report, the market value stood at USD 4.04 billion in 2018 and is expected to rise at a CAGR of 12.5% during the forecast period set between 2019 to 2026.
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Canada Hosts Launch of Venus Medtech for Pulmonary Valve Implant
Chinese company for heart valve, namely Venus Medtech, launched their self-expanding pulmonary valve implant called Venus P-Valve in Canada in June 2018. This valve is specially designed for patients who do not prefer cardiopulmonary or sternotomy bypass surgery as part of the traditional valve replacement surgeries. A simple delivery system can perform this surgery wherein the valve is inserted percutaneously on patients who opt out of cardiopulmonary and sternotomy bypass surgeries.
Dr. Ronald Carere of St. Paul’s Hospital in Canada says, “The success rate of these stents is highly positive, and we expect it to expand all over the nation. This will replace the traditional valve replacement surgeries in the coming years.” The company further planned to launch an FDA clinical trial in 2019. Such innovation is likely to bode well for the market in the forecast period.
Government-supported Reimbursement Policies will Help Market Gain Impetus
The increasing prevalence of cardiovascular diseases among the geriatric and bariatric population are the major factors promoting the transcatheter heart valve replacement market growth. Besides this, the advent and increasing popularity of minimally invasive surgeries are expected to aid in the expansion of the market. Moreover, improving healthcare infrastructure and medical facilities, coupled with government-supported reimbursement policies in some regions, are likely to help the market gain impetus in the coming years.
On the flipside, established presence and demand for traditional surgical valves especially in the developing nations may pose a significant threat to the market. Nevertheless, the rise in the focus of players for the development of Mitral Valve Products is projected to create lucrative growth opportunities for the market in the long run.
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