Transcatheter tricuspid valve repair market set to grow over $2 billion by 2033, forecasts GlobalData

23 Feb, 2024 Transcatheter tricuspid valve repair market set to grow over $2 billion by 2033, forecasts GlobalData

Posted in Medical Devices

The transcatheter tricuspid valve replacement (TTVR) system, EVOQUE, by Edwards Lifesciences is a minimally invasive treatment option for tricuspid regurgitation (TR). Since receiving CE approval in October 2023 and FDA approval earlier this month, the EVOQUE TTVR system has become the only transcatheter therapy globally available to treat severe TR. With the approval of the EVOQUE system, the global TTVR market is expected to grow over $2 billion by 2033-a similar aggressive adoption trend observed with other transcatheter valve products, according to GlobalData, a leading data and analytics company.

Joselia Carlos, Medical Device Analyst at GlobalData, comments: "Historically, open surgery was the primary treatment for severe tricuspid valve disease such as TR. However, because patients exhibiting severe TR are typically elderly patients, many TR patients are considered high-risk and therefore, ineligible for surgical treatment due to advanced age and comorbidities. The release of the EVOQUE system provides the minimally invasive option and offers hope for these individuals to receive an alternative TR treatment."

Employing TTVR treatment is not a problem for countries with responsive regulatory and reimbursement agencies and developed economies such as Germany, Switzerland, France, the US, and Japan.

GlobalData's research on the transcatheter tricuspid valve repair and replacement market reveals that these countries are expected to observe adoption rates of 15-25%, while countries that have a more cautious approach such as the UK, Spain, and Italy will likely see a 3-8% growth rate. However, countries with developing economies like India will likely only have growth rates of 1-3%.

Carlos continues: "The barriers for the adoption include high device cost and limited training available for surgeons due to the technical nature of TTVR surgeries. Despite the release of the EVOQUE system, there is still a large, unmet clinical need for severe TR treatment, especially in developing countries."

While EVOQUE by Edwards Lifesciences is currently the only available TTVR system, this has not precluded other companies from trying to enter the market. In particular, Medtronic is still conducting its early feasibility study on its Intrepid System for the treatment of severe TR after receiving FDA breakthrough designation in 2020.

Carlos concludes: "Medtronic's Intrepid System was originally developed for transcatheter mitral valve replacement procedures. If the Intrepid System eventually enters the market for TTVR, market dynamics in the transcatheter space will likely shift because it would be the only device that can be used for two transcatheter procedures."