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Source | Cpharm Medical DevicesAuthoring| Dongtai
Medtronic Announces Another Personnel Change.Medtronic TAVR and Congenital Heart Disease BusinessRecently,Medtronic Appoints Jorie Soskin as New Vice President and General Manager of TAVR and Congenital Heart Disease Business
Medtronic Senior Vice President and President of Structural Heart and Aortic Division, Nina Goodheart, shared the news of Soskin's appointment on LinkedIn. Goodheart wrote: "Big news from the Medtronic Structural Heart and Aortic team – Jorie Soskin joins us as Vice President and General Manager of TAVR and Congenital Business. His dedication to improving patient outcomes and raising the standard of care is a welcome addition to our team, and he has already started meeting with our Medtronic team and physician partners around the world."
According to reports,Soskin joined Medtronic through the acquisition of CoreValve by Medtronic in 2009 and has over 15 years of experience in the cardiovascular field at Medtronic., successively served as Vice President and General Manager of Medtronic's Procedure Innovations division, Senior Director and General Manager of Infection Control, Director of Tachy Strategy, and other positions.
Goodheart said that he brought "the momentum of innovation, as well as a strong track record of improving patient outcomes and access through focused execution of strategic business opportunities."
Medtronic's latest financial report shows that the company's global revenue for Q1 of the 2025 fiscal year (the three months ending July 26, 2024) was $7.915 billion, with adjusted revenue at $8.004 billion, representing a reported growth of 2.8% and organic growth of 5.3%. The company has raised its expected organic revenue growth for FY25 from 4%-5% to 4.5%-5%.
In the细分板块, cardiovascular business revenue reached $30.07 billion, representing a year-over-year increase of 5.5%. Among these,Structural Heart and Aortic Business Revenue Reaches $856 Million, a Year-over-Year Increase of 5.1%, mainly driven by low double-digit growth in cardiac surgeries and high single-digit growth in structural heart (excluding congenital).
The financial report also disclosed,The Evolut™FX+ TAVR system began a limited commercial release in the U.S. this quarter, with full market rollout underway.
TAVR Leader Lowers Expectations
Can Medtronic Take the Lead?
In the global TAVR market, Edwards Lifesciences is in a leading position, occupying the largest market share. However, Edwards' leading position in TAVR is also facing challenges from other strong competitors.Among them, Medtronic is Edwards' top rival in the TAVR field. In 2009, Medtronic acquired CoreValve, an aortic valve company, and gradually expanded its TAVR portfolio by launching the Evolut R, Evolut PRO, Evolut™ FX and other series of products. Currently, its global market share ranks second.According to previous estimates by Wall Street investment firm Needham, Edwards and Medtronic's global TAVR market shares are expected to reach57.9%And28.5%。In addition, Abbott and Boston Scientific have also made arrangements in the TAVR field.Edwards Lifesciences' latest financial report shows that the company's Q2 2024 sales of Transcatheter Aortic Valve Replacement (TAVR) reached $1 billion, a year-on-year increase of 5%.This growth was lower than expected, and Edwards Life Sciences has reduced its full-year guidance for TAVR from 8%-10% to 5%-7%.Edward disclosed that the company's competitive position has not undergone significant changes globally, and despite some regional pressures, prices have remained stable.Despite the phased growth falling short of expectations, Edwards remains confident in its TAVR business. Currently, Edwards is actively seeking significant opportunities for its long-term global development and is committed to advancing scientific research for aortic stenosis patients through the PROGRESS and EARLY TAVR trials. The results of the EARLY TAVR trial are expected to be announced at TCT this year.Notably, just this month, Edwards completed the $4.2 billion cash acquisition with BD Medical. After selling off its critical care business, Edwards will focus more on the structural heart disease field. With a lighter burden, Edwards may achieve more breakthroughs.Medtronic: In March this year, the company's latest generation TAVR—Evolut FX+ system received FDA approval for use in symptomatic severe aortic stenosis patients across all risk categories (extreme, high, moderate, and low). The Evolut FX+ TAVR system is designed to enhance coronary access in various patient anatomies without compromising valve performance.In April, Medtronic announced new data from the largest head-to-head comparison trial of transfemoral transcatheter aortic valve replacement (TAVR). The one-year results of patients with aortic stenosis (AS) and small aortic annulus (SAA) randomized to the Evolut or SAPIEN (SMART) trial showed that, compared with the SAPIEN™ platform, the Evolut™ TAVR platform demonstrated non-inferior clinical outcomes and superior valve performance in terms of bioprosthetic valve dysfunction.Under the leadership of Jorie Soskin, the new Vice President and General Manager of TAVR and Congenital Heart Disease business, whether Medtronic's TAVR business will present a new outlook is quite worth expecting.The competitive landscape of China's TAVR market is quite different from the global landscape. Compared to foreign enterprises, China-produced TAVR companies such as Venus Medtech, Peijia Medical, and HeartFlow Medical hold a larger market share. However, these China-produced TAVR companies have not yet achieved overall profitability.In the first half of this year, the losses of China-produced TAVR leading enterprises have narrowed somewhat.Among them, Heartflow Medical lost 0.56 billion yuan, a year-on-year decrease of 68.53%; Peijia Medical lost 0.71 billion yuan, a year-on-year decrease of 66.39%; and Qiming Medical lost 2.06 billion yuan, a year-on-year decrease of 41.04%.At the same time, the adoption of TAVR in China is further increasing. In the first half of 2024, Venus Medtech's implant volume reached approximately 2,300 units, marking a 15% growth quarter-over-quarter, with coverage expanding to over 580 hospitals. Peijia Medical’s TAVR implant volume was close to 1,750 units, reflecting a 40% year-over-year increase, with its market share rising by 5 percentage points to nearly 25%. MicroPort CardioFlow entered an additional 50 hospitals, with implant volume growing over 10% year-over-year, covering more than 600 hospitals in total.According to Frost & Sullivan data, the global TAVR market size reached 7 billion USD in 2022 and is expected to reach 15.89 billion USD by 2030, with a compound annual growth rate of 10.8% during this period.Next, the ups and downs of the TAVR market will continue.- END -
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Editor: Qin Jiu
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