Heart Valve Disease: a Market in Motion
More than 30 million people worldwide are living with a form of heart valve disease.
Seeing as the condition grows more common with age, the global aging population will undoubtedly drive increased demand for valve disease treatments.
Over the past decade, we’ve seen transcatheter approaches to valve repair and replacement emerge and expand, ushering in an era of rapid evolution in the valve disease market at large.
Let's dive into this market, the history, and the numbers driving it.
Context on Valve Repair and Replacement
Prior to 2011, open-heart surgery was the only bona fide option to treat patients with advanced valve disease. These major procedures come with risks, particularly for older adults and those who may not tolerate surgery well.
But in 2011, enter transcatheter aortic valve replacement (TAVR). The aortic valve was the first to see approval for treatment via a transcatheter approach.
The procedure is performed by inserting a catheter into an artery in the groin or left chest, and advanced a new valve into the heart. The new valve is deployed, the old valve is pushed aside.
With minimally-invasive transcatheter options, patients are often able to walk same-day and return home the following day — much faster than traditional open-heart surgery.
The revolution here has continued, perhaps with no news more significant than Edwards Lifesciences receiving its CE Mark in 2023 and FDA approval in 2024 for the EVOQUE Valve Replacement System, the first transcatheter therapy to receive approval for treatment of tricuspid regurgitation (TR).
At LSI USA '24, Donald E Bobo Jr of Edwards joined investors and innovators in Structural Heart to discuss the "twists and turns, learnings about the patient, the clinical pathways" and changes in this space. You can watch the full recording here
However you look at it, transcatheter options have changed the game.
The Numbers
According to LSI ’s Global Surgical Procedure Volumes database, approximately 1.1 million valve procedures will be performed globally this year.
Transcatheter approaches are expected to account for 41% of these procedures.
This shift is only accelerating. By 2030, our market intelligence team projects that transcatheter valve repair and replacement will make up over half of all structural heart procedures.
Given the surge in transcatheter adoption, you might expect the traditional surgical valve volumes to start declining.
But the opposite is true. Surgical valve replacement and repair procedures are projected to grow at a CAGR of 4.4% through 2028.
Financial reports from leading companies in the surgical valves market, like Edwards and Artivion, Inc. , show sustained demand, suggesting that these tried-and-true procedures remain critical for certain patient groups.
Why is this?
While less invasive options are often preferred, valve disease is one area where “newer” doesn’t necessarily mean “better.”
Clinical data shows that surgical valve replacements still play a vital role for patients requiring long-term durability and survival benefits, where factors like device longevity can make surgery the more suitable choice.
It’s a timely reminder that when it comes to healthcare, innovation must be closely tied to the needs of each patient, and what works for one may not work for all.
The transcatheter market is still evolving, and the limitations of current devices are likely to be addressed as technology advances. Major strategics and innovators alike are heavily invested in bringing next-generation transcatheter solutions to market, driven by the hope of capturing a larger share of patients with valve disease.
However, surgical valve replacements and repair procedures remain part of a multibillion-dollar market that isn’t just holding steady—it’s growing. As technology advances, we expect that maintaining optionality of approaches will be crucial to serve a breadth of patients.
Valve disease treatment is in constant motion, and we’ll be here to keep a close eye on the dynamics that shape this crucial market.
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All data in this article is sourced from LSI's Market Intelligence Team
CEO at CORCYM | Investor | Board Member
2 周Good to see the recognition that the surgical valve replacements and repair procedures remain part of a multibillion-dollar market that isn’t just holding steady—it’s growing!