US transcatheter tricuspid valve repair market grows by 56% QoQ since launch in Q2 2024: GlobalData

Tricuspid valve repair has recently emerged as a new, rapidly growing area. Transcatheter tricuspid valve repair (TTVR) is a minimally invasive surgery that treats a damaged tricuspid valve, and it offers an alternative to open-heart surgery.  Following its launch in Q2 2024, the TTVR market has witnessed a significant growth of 56 per cent in the US in the third quarter, reveals GlobalData.

According to GlobalData’s US Healthcare Facility Invoicing Database, the TTVR market has grown from accounting for just over 2 per cent of total US transcatheter heart valve revenue in Q2 2024 to close to 3.5 per cent by Q3 2024.

Amy Paterson, Medical Analyst at GlobalData, states, “The US transcatheter heart valve market, and specifically the transcatheter aortic valve replacement (TAVR) segment, is one that has been well researched and is well known. The growth that we have seen in the TTVR space over the past two quarters has been remarkable.”

Currently, there are two major players with FDA-approved devices in this TTVR space that include Abbott Laboratories and Edwards Lifesciences. They each have a product in the space, which are the Triclip and Evoque, respectively.

In early 2024, Edwards Lifesciences’ Evoque was the only TTVR product. But Abbott launched its Triclip in April, giving Edwards competition in the market. According to the US Healthcare Facility Invoicing Database, Abbott has captured the majority of the US market with Triclip since Q2 of this year.

Paterson continues, “Although Abbott did release its product later, the company has been able to capture and maintain the majority of the market. This may be due to Abbott’s pricing strategy, as Triclip is currently more than 10 per cent cheaper than Edwards’ Evoque, despite a slight price bump since its launch.”

Paterson concludes, “Overall, the market is still new and growing, with no signs of slowing for 2025. It will be interesting to see if Edwards adopts a more competitive pricing strategy to regain market share, and whether Abbott will implement any changes to maintain dominance, especially as new competitors like the Jenscare’s LuX-Valve enter the market.”