September 23, 2021
Michael Cartmill, Co-Founder and Medical Device Analyst
Transcatheter Aortic Valve Implantation (TAVI), or if you are state side, TAVR, with the R standing for replacement, refers to a minimally invasive procedure to implant an artificial aortic valve without opening the chest. TAVI devices include a collapsible prosthetic valve attached to a catheter that is threaded through a blood vessel and implanted within the diseased native aortic valve.
The TAVI market is driven by the aging global population and the rising incidence of aortic stenosis, a narrowing of the aortic valve opening that restricts blood flow from the heart. Aortic stenosis becomes more common with age, affecting 2-7% of those over 65 and up to 13% over 85. TAVI provides an alternative for high-risk patients who cannot undergo open-heart surgery for traditional aortic valve replacement.
The global TAVI device market is expected to grow to over $8 billion by 2025, representing a compound annual growth rate of over 16%. Europe currently accounts for over half of all global TAVI procedures due to faster adoption rates, but growth in the U.S. and Asia is accelerating rapidly. The key players in the TAVI market include Medtronic, Edwards Lifesciences, Boston Scientific, Abbott and a growing number of companies attempting to enter with new-generation devices with unique attributes, one such company being Australian listed Anteris Technologies with their DurAVR.
Cordis Medical Advisory Panel members Michael Mack, Michael Vallely and David Celermajer are of the opinion that the TAVI market has a very long runway of growth and as such the Cordis Global Medical Technology Funds holds positions in companies we believe are in the best position to benefit.
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