After the U.S. and Europe, Japan holds the largest share for TAVI devices. The large population of elderly above the age of 65 years with aortic stenosis, high adoption of TAVI devices for the treatment of aortic stenosis, and favorable reimbursement policies in the country are expected to further drive the market growth.‐ ‐Furthermore, companies have been modifying the TAVR devices according to the needs of patients, for instance, in 2013, Edwards Lifesciences developed smallest-sized version of its SAPIEN XT TAVI valve, which is ideal for Japanese patients.
Transcatheter Aortic Valve Implantation Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $5,962 million by 2022, registering a CAGR of 16.5% during the period 2016-2022. Transfemoral implantation is expected to dominate the overall market (in terms of value and volume) throughout the forecast period. Europe held the leading position in the global market (in terms of value and volume) in 2015, and is expected to maintain its lead throughout the study period.
The TAVI market is in its growth phase, and is mainly driven by rise in prevalence of aortic stenosis and increase in geriatric population. In addition, increase in adoption rate of transcatheter aortic implantation along with new device approvals and improvement of healthcare infrastructure in developing countries are other factors that fuel the market growth.
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According to the Vanderbilt University Medical Center (U.S.), every year, around 200,000 people are diagnosed with aortic stenosis and about 75% of them are considered to be at high risk. An article of National Centre for Biotechnology Information (NCBI) stated that aortic valve stenosis is present in 2‐9% of the general population over 65 years of age.
The TAVI market growth is driven by the rise in number of centers providing transcatheter aortic valve replacement facility. This number has increased by approximately nine times from 37 in 2007 to 342 in 2011 in Europe. In the year 2015, Edwards Lifesciences stated that the TAVR procedure was available in 400 centers in the U.S. The company further plans to add additional National Coverage Determination (NCD) qualified centers in 2016 to increase its transcatheter aortic valves sales.
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Europe accounted for a major share in the global TAVI market (in terms of value and volume) in 2015, and is expected to maintain this trend. This is attributed to the increase in prevalence of severe aortic stenosis cases coupled with the rise in population of inoperable patients, and high adoption rate of advanced transcatheter aortic valves.
Key players have adopted product development as their key strategy to enhance their product offerings by expanding indication of transcatheter aortic valves. The key players profiled in this report include Boston Scientific Corporation, Direct Flow medical, Inc., Edwards Lifesciences Corporation, HLT, Inc., JenaValve Technology, Inc., Medtronic plc, Meril Life Sciences Pvt. Ltd., St. Jude Medical, Inc., SYMETIS SA, and Transcatheter Technologies GmbH.