ARTICLE SUMMARY:
Medtronic and Edwards Lifesciences are investing in clinical trials of new applications for TAVR to accelerate the growth of the overall market while Abbott and Boston Scientific are trying to catch up.
Transcatheter aortic valve replacement (TAVR) has been an important growth driver for Medtronic and Edwards Lifesciences over the past decade and both companies are continuing to press their advantage as new competitors enter the TAVR market.
According to Jefferies Equity Research, the worldwide TAVR market will be worth nearly $7 billion annually by the end of 2024, up from $4.6 billion in 2019, and Jefferies expects the market to grow around 11% annually over the next three years. Overall, the market has grown about 50% since 2019. The US TAVR market accounts for just over half of the total worldwide market and will grow about 10% annually over the next three years.
