The transcatheter aortic valve replacement market size is expected to grow from US$ 6.34 billion in 2023 to US$ 19.63 billion by 2031; it is estimated to register a CAGR of 15.2% from 2023 to 2031.

Key factors driving the market growth are the rising number of aortic valve replacement surgeries and the adoption of minimally invasive procedures for aortic stenosis (AS) treatments. However, the increasing number of product recalls hamper the market growth.

Market Trends of the Transmucosal Drug Delivery Systems Market:

A surge in research activity is driven by several factors, including the growing prevalence of aortic valve diseases, advancements in medical technology, and the need for more evidence-based approaches to treatment. Clinical studies are crucial in assessing the safety and efficacy of new surgical techniques, prosthetic valves, and transcatheter interventions. These studies also help identify risk factors, optimize patient selection criteria, and evaluate long-term outcomes to improve patient care and quality of life. As the demand for aortic valve replacement continues to rise, so does the importance of conducting robust clinical trials to provide healthcare professionals and patients with the best evidence for making informed treatment options. With ongoing research and collaboration between medical institutions, the future of aortic valve replacement looks promising, with the potential for even more innovative and effective approaches on the horizon.

A few ongoing clinical trials in the aortic valve replacement devices are mentioned below:

A multi-center and randomized study started in April 2022 to obtain safety and effectiveness data to support indication expansion for the Medtronic TAVR System, including patients with moderate, symptomatic AS.

Therefore, such advancements are anticipated to bolster the transcatheter aortic valve replacement market growth in the coming years.

Transcatheter Aortic Valve Replacement Market: Segmental Overview

The transcatheter aortic valve replacement market is segmented on the basis of procedure, material, mechanism, and end user.

The market, by procedure, is segmented into transfemoral implantation, transapical implantation, and transaortic implantation. The transfemoral implantation segment held the largest transcatheter aortic valve replacement market share in 2023 and is anticipated to register the highest CAGR from 2023 to 2031. TAVR has revolutionized the AS treatment approach and is ideally performed as a completely percutaneous procedure through the transfemoral (TF) approach. Several benefits conferred by this approach include the convenience of use, early mobility capability, fast-track protocols, and minimized surgical incisions.

Based on material, the transcatheter aortic valve replacement market is segmented into stainless steel, nitinol, cobalt chromium, and others. The cobalt chromium segment held the largest market share in 2023, and it is anticipated to register the highest CAGR from 2023 to 2031.

Based on mechanism, the market is bifurcated into balloon-expanding valve and self-expanding valve. The balloon-expanding valve segment held the largest market share in 2023 and is further anticipated to record the highest CAGR from 2023 to 2031.

In terms of end user, the transcatheter aortic valve replacement market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment held the largest market share in 2023. Transmucosal Drug Delivery Systems Market: Geographical Overview

The scope of the transcatheter aortic valve replacement market report focuses on North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). In terms of revenue, North America dominated the transcatheter aortic valve replacement market share in 2023. Further, Asia Pacific is anticipated to record the highest CAGR during 2023-2030. This is attributed to the contributions and market initiatives of the key players operational in Asia Pacific, including Abbott, Medtronic, and Venus Medtech Hang Zhou Inc. In October 2023, Japan Lifeline Co., Ltd signed an exclusive 10-year distribution agreement with Meril Life Sciences Pvt. Ltd. The agreement enables Japan Lifeline to distribute the transcatheter heart valve named "Myval Octacor" in Japan, following its approval by the Ministry of Health, Labor and Welfare. The valve is used in TAVR/TAVI procedures.