A recent report published by Infinium Global Research on transcatheter aortic valve replacement market provides an in-depth analysis of segments and sub-segments in the global as well as regional transcatheter aortic valve replacement market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional transcatheter aortic valve replacement market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global transcatheter aortic valve replacement market. According to the report, the global transcatheter aortic valve replacement market is projected to grow at a CAGR of 17.2% over the forecast period of 2019-2025.
Transcatheter aortic valve replacement (TAVR) is also referred to as transcatheter aortic valve implantation (TAVI) is a minimally invasive surgical procedure repairs the valve without removing the old, damaged valve. Instead, it wedges a replacement valve into the aortic valve’s place. Normally valve replacement method requires an open heart procedure with a sternotomy, in which the chest is surgically separated for the treatment. Whereas, the TAVR procedures can be done through very small openings that leave all the chest bones in place. There are two methods available for TAVR surgical procedure, which includes: 1. Entering through the femoral artery (large artery in the groin), called the transfemoral approach, which does not require a surgical incision in the chest. 2. A minimally invasive surgical approach with a small incision in the chest and entering through a large artery in the chest or through the tip of the left ventricle (the apex), which is known as the transapical approach. Further, recent clinical trials on TAVR devices proved that these devices are good enough for surgical aortic valve replacement (SAVR) within the intermediate risk patient population. These trials were also noteworthy for the low complication rates observed in the TAVR groups. As TVAR’s application moves from inoperable and high-risk patients to patients who have a moderate or lower risk for open heart surgery, the market will expand exponentially in the coming years.
An increasing number of patients across the world suffering from cardiovascular diseases such as heart failures, coronary artery diseases (CAD), and hypertension is one of the key factors augmenting the growth of transcatheter aortic valve replacement market. Cardiovascular diseases cause improper functioning of aortic valves, hereby stoking the demand for efficient valve replacement procedure. Moreover, along with technological advancements, increase in a number of clinical trials and patient awareness about the benefits of transcatheter aortic valve replacement procedure such as less traumatic surgical experience, reduced overall hospital stay, reduced healthcare expenditure in treating high-risk patients and faster recovery would meet the patients demand thus promoting market growth. However, stringent government regulations for approval of transcatheter aortic valve, the risk associated with the procedure hinder the growth of the market. Geographic expansions, increasing funding for research & development activities, new product launches, and favorable reimbursement policies are some of the key trends which are estimated to provide a better opportunity to the market during the forecast period.
Among the regions, Europe holds a largest regional share in the total TAVR market and maintain this trend due to the rise in presence of severe aortic stenosis cases along with the increase in a number of inoperable patients and high adoption rate of advanced transcatheter aortic valves. As per data published by Centers for Medicare and Medicaid Services (CMS), over 65 years of age the number of aortic stenosis patients is constantly increasing. Thus, in the U.S. rising incidence of aortic stenosis along with favorable reimbursement policies are expected to fillip the growth of the market over the forecast period. However, Asia Pacific is predicted to grow at a high CAGR (in terms of value and volume), mainly due to the presence of substantial growth opportunities in terms of unmet medical needs for the treatment of aortic stenosis and increase in awareness about TAVR procedures among physicians.
The report on global transcatheter aortic valve replacement market covers segments such as type of treatment. On the basis of type of treatment, the sub-markets include transfemoral approach, and transapical approach.
The report provides profiles of the companies in the market such as Edwards Lifesciences Corp., Boston Scientific Corp., Direct Flow Medical, Inc., Bracco Spa, Jenavalve Technology, Inc., Medtronic Plc, St. Jude Medical Inc., Meril Life Sciences Pvt. Ltd., Transcatheter Technologies Gmbh, and Others.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of transcatheter aortic valve replacement market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.