The global TAVR embolic protection market revenue was around US$ 124 million in 2023 and is estimated to reach US$ 403 million by 2032, growing at a compound annual growth rate (CAGR) of 14% during the forecast period from 2024 to 2032.
TAVR is a minimally invasive process designed to treat aortic valve stenosis, a situation characterized by the narrowing of the aortic valve in the heart. These narrowing decreases blood flow from the heart to the remains of the body, leading to symptoms such as shortness of breath, chest pain, and fatigue.
Factors Influencing Market Growth
- The existence of strong reimbursement policies is playing a key role in driving market growth. Reimbursement policies confirm that healthcare providers are financially incentivized to provide TAVR procedures with embolic protection devices to their patients. These policies often cover a significant portion of the costs associated with these procedures, making them more accessible and affordable for patients.
- Initiatives taken by key industry players are important in simplifying the reimbursement procedure which further boosts the market growth. For instance, Boston Scientific offers a hospital reimbursement & coding guide and has introduced new Current Procedural Terminology (CPT) codes such as 33370, specific to the usage of the SENTINEL cerebral protection system during TAVR procedures. This improves the financial feasibility of healthcare providers and facilitates them to adopt these devices.
- The high price of cerebral embolic protection devices can be a significant deterrent, especially in regions where healthcare budgets are restrained. Therefore, the combination of these elements can hinder the broader adoption of these devices and market expansion.
Impact of COVID-19
The COVID-19 pandemic had a significant negative impact on the market. The disruption in healthcare services, prioritization of cases, and limitations on elective procedures led to a temporary reduction in TAVR procedures and device adoption.
Regional Insights
North America dominated the market in terms of revenue. This can be attributed to its well-developed healthcare industry, increase in cardiovascular diseases including aortic stenosis, and surge in the number of key players providing TAVR embolic protection devices. Furthermore, the United States serves to be the key market in this region, due to technological advances in TAVR embolic protection devices, and the existence of the aged population is expected to boost the market growth.
Asia-Pacific is estimated to dominate the market in terms of the growth rate. This is owing to the existence of a high population base, an increase in the geriatric population, and high growth potential in emerging economies. Additionally, the increasing demand for minimally invasive procedures is boosting the market expansion. Furthermore, the surge in the number of initiatives and significant investments from governments for the overall development of the healthcare system drives market growth.
Leading Competitors
The leading competitors in the global TAVR embolic protection market are:
- Edward Lifesciences Corporation
- Venus MedTech HangZhou Inc.
- Encompass Technologies Inc.
- Innovative Cardiovascular Solutions LLC
- Filterlex Medical Ltd
- Protembis GmbH
- Transverse Medical Inc.
- Cardioptimus
- Boston Scientific Corporation
- Emboline Inc.
- Others
Segmentation Analysis
The global TAVR embolic protection market segmentation focuses on Product and Region.
Segmentation based on Product
- SENTINEL cerebral protection system
- TriGUARD 3 CEP device technology
Segmentation based on Region
- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa