As of 2022, Edwards Lifesciences was the lead player in the US tissue suture aortic valve replacement (sAVR) market, with a highly competitive share of 57%. Edwards Lifesciences’s tissue sAVR product portfolio includes the Magna, Perimount, and Inspiris Resilia aortic valves.
Another well-known player in the tissue sAVR market is Abbott Laboratories, which only has a 5% market share that consists of two products—the Biocor Stent Tissue and Trifecta GT aortic valves. The company recently announced it will be withdrawing its Trifecta GT aortic valve from the US tissue sAVR market due to the increasing occurrence of structural valve deterioration. Abbott is currently initiating inventory-related activities worldwide for unused Trifecta and Trifecta GT valves, in accordance with respective regulatory frameworks.
Given that Abbott will now only have one product in the US tissue sAVR market, some of its original shares will likely go to Edwards Lifesciences. This forces Abbott to generate new tissue heart valve solutions if the company wants to remain in the heart valve market. According to Abbott, it has decided to focus on its next-generation tissue valves that will maximize possibilities for lifetime management of valvular heart disease.
In the last decade, transcatheter heart valve replacement (TAVR) procedures have become an alternative to tissue aortic valves. Thus, another potential area where Abbott may focus on creating heart valve solutions is pivoting its efforts to the TAVR market, which is currently valued at approximately $7m and is expected to grow to almost $19m in 2033 with a conservative compound annual growth rate (CAGR) of 9%. The lack of expertise required to perform TAVR procedures, the invasiveness of the procedure, and the high cost of TAVR devices are reasons for the conservative CAGR, and thus, TAVR devices cannot completely replace prosthetic heart valves. Additionally, while diverting efforts to the TAVR market may seem like a potential option for Abbott, Edwards Lifesciences also dominates this market in addition to the prosthetic heart valve market. Edwards Lifesciences has certainly succeeded in making itself known as the number-one global supplier of heart valves.