Dynamic US Market For Heart Valve Devices Will See Rapid Expansion Through 2022

TORONTO, Oct. 10, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the United States market for heart valve devices will experience strong growth, driven primarily by the rapid adoption of transcatheter heart valve devices. These premium-priced devices represent new technologies that are increasingly favored for their minimally invasive nature.

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The first transcatheter aortic heart valve replacement (TAVR) device, Edwards Lifesciences' SAPIEN valve, was commercially introduced to the US in 2011, and the product has since then seen significant procedural growth. US physicians and centers have readily adopted the procedure, which has benefitted substantially from clinical evidence demonstrated from the use of the technique and device in Europe. Although this procedure was initially only indicated for patients who were ineligible for surgical heart valve replacement (SAVR), the device was further approved for use in high-risk surgical patients in 2012. TAVR is expected to be approved for use in intermediate-risk patients in 2017 and more competitors are expected to enter the market through 2022, which will further cannibalize procedures that would have historically been performed via SAVR.

"Competitors are seeking to replicate the success of TAVR by developing transcatheter devices for other valve positions," said MRG Senior Analyst Ian Swanson. "For example, transcatheter mitral valve repair (TMVR) devices are set to first enter the US market in late 2013. These devices will also see uptake, albeit in a more limited fashion until clinical data and indications for use expand. So far, clinical results for TMVR have been mixed, and this technique is associated with a steeper learning curve than TAVR, which will impede adoption."

Manufacturers are also in the process of developing transcatheter mitral valve replacement devices designed to be implanted in the native mitral valve. Currently, clinical experience is limited with these devices, although this device is expected to see continued development resulting in eventual commercial approval in the US around 2021. Transcatheter mitral valve repair and replacement technologies will likely compete for patients to some extent, although as the two products become more established, it is likely that they will be largely indicated for different patient subsets.

Millennium Research Group's US Markets for Heart Valve Devices 2014 report includes unit, procedure, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for tissue heart valves, mechanical heart valves, TAVR devices, transcatheter mitral valve replacement devices, surgical annuloplasty rings and bands and TMVR devices in the United States.

About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.

About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.

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SOURCE Millennium Research Group