The transcatheter heart valve replacement market is projected to witness significant growth over the coming years attributing to factors such as increasing investments in research development for numerous chronic disease treatments, increasing prevalence of aortic valvular diseases, rising number of catheterization labs, and rising incidences of mitral regurgitation and mitral stenosis.

Transcatheter heart valve replacement is a less invasive heart procedure to substitute a narrowed aortic valve which fails to open appropriately. It can further release the signs as well as symptoms of aortic valve stenosis, thereby enhancing the survival in people who have critical symptoms.

Transcatheter heart valve replacement market is bifurcated into various segments with respect to product, surgical approach, application, end-use, and regional landscape.

Based on product, the THVR market is segmented into transcatheter aortic valve replacement, transcatheter mitral valve repair and replacement and transcatheter pulmonary valve replacement. Among these, in 2019, TAVR or transcatheter aortic valve replacement segment was valued at more than $4,941 million and is expected to expand at a CAGR of around 16.9% over the forthcoming time period owing to increasing prevalence of aortic valvular diseases across the globe. Transcatheter aortic valve replacement is also referred as transcatheter aortic valve implantation.

With respect to surgical approach spectrum, the market for transcatheter heart valve replacement is classified into transapical approach, transfemoral approach, and others. Transfemoral approach segment valued at more than $4,527 million in 2019 and is anticipated to grow at 17.6% over the estimation time period. The estimated growth is ascribed to easy access, less radiation time and unlimited repetition of puncturing.

With respect to application, the market is categorized into pulmonary valvular heart disease, mitral valvular heart disease, and aortic valvular heart disease. In 2019, the mitral valvular heart disease application segment valued at more than $816 million in 2019 and is likely to grow at around 23.1% over the forecast time period owing to the rising incidences of mitral regurgitation and mitral stenosis.

In terms of end-use, the overall market is segmented into cath labs and hospitals. In 2019, the cath labs segment was valued at approximately $2,581 million and is expected to grow at more than 21.6 % over the analysis time period. The segmental growth is attributed to the rising number of catheterization labs.

From a regional frame of reference, in 2019, Middle East & Africa transcatheter heart valve replacement market was valued at more than $107 million and is projected to grow at 19.1 % over the forecast time period. This anticipated growth is ascribed to the increasing investments in research & development for various chronic disease treatments.