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TAVR market dominated by Edwards Lifesciences and Medtronic

TAVR market dominated by Edwards Lifesciences and Medtronic


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2013-01-21 18:29:03 - TAVR market dominated by Edwards Lifesciences and Medtronic

The global transcatheter aortic valve replacement (TAVR) market has been forecast to increase at a compound annual growth rate (CAGR) of 27% over the next five years, increasing from a valuation of $487.8 million in 2011, to hit a market value of $2.6 billion by 2018.Aortic stenosis (narrowing) is a potentially life-threatening condition. The aorta is the main artery carrying blood from the heart to the rest of the body. When blood leaves the heart, it flows through the aortic valve, into the aorta. In aortic stenosis, the aortic valve does not open fully. This condition decreases blood flow from the heart. In patients in whom the stenosis progresses and becomes severe, the result is a life-threatening condition.The TAVR market

 

 

has been developing quickly as a result of the US and Europe´s rapid adoption of the procedure. Ever since the first TAVR devices received CE Mark in Europe in 2007 and FDA approval in the US in 2011, additional companies have been working to enter the market as well. TAVR device technology has already entered the next stage of development, with many second-generation prosthetics approved in Europe and others due to launch in Europe and the US in the near future. In parallel development with device designs, companies are looking to further improve their delivery systems as well.The procedure delivers a replacement valve via catheter while the heart is still beating. Clinical trial data is promising: The two-year, all-cause mortality rate is 43% compared with 68% for patients treated medically. Recovery time averages from one to two weeks.Germany is leading the way with TAVR procedures, having completed over 8,000 of them during 2011. Other European countries are not far behind their German neighbors in the use of TAVR, with the US quickly catching up in procedural volume as well. Many countries in Europe have established reimbursement codes for the procedure, which has increased rates of adoption.Currently, the TAVR market is dominated by two key players, both of which have had multiple device iterations and both of which are developing additional TAVR products for the market. In 2011, Edwards Lifesciences controlled roughly 61% of the global TAVR market, followed by Medtronic who had 35%. As other competitors´ devices enter the market, it is expected that Edwards and Medtronic will continue to see sales growth but will see a decrease in their market share.For more information on the TAVR market, see the latest research: Transcatheter Aortic Valve Replacement MarketFollow us on Twitter @CandMResearch

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