Transcatheter Valves At The Tipping Point
Although Edwards is the pioneer and market leader in TAVR, there is no shortage of competitors – in both the aortic and mitral valve segments – developing next-generation devices who would be happy with a fraction of this potential multibillion-dollar opportunity.
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The market opportunity for TAVR is significant, with 2013 sales totaling $303.4 million in the US and $765 million outside the US, and those numbers are expected to grow to an estimated $1.29 billion and $1.63 billion, respectively, by 2018. Edwards and Medtronic dominate the worldwide market at present, but other companies are expected to make inroads with next-generation devices designed to optimize outcomes.
St. Jude Medical’s Portico transcatheter aortic valve is poised to become more competitive in Europe in 2014 as more sizes become available, executives told investors during the firm’s Feb. 7 annual investor conference. And the firm is talking to FDA about alternative pivotal trial designs.