According to the latest market research report “Transcatheter Aortic Valve Replacement Market (Type of Treatment – Transfemoral Approach, and Transapical Approach): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global transcatheter aortic valve replacement devices market size is anticipated to reach USD 11.3 billion by 2025 from USD 2.91 Million in 2018 with a CAGR of 17.2% during the forecast period.
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Transcatheter aortic valve replacement (TAVR) is a minimally invasive procedure to replace the aortic valve in people suffering from aortic valve stenosis. Aortic valve stenosis or aortic stenosis is a narrowing of the aortic valve opening. This narrowing prevents the valve from opening to the fullest extent, which in turn obstructs blood flow from the heart into the aorta and further to the rest of the body. Symptoms of aortic stenosis include chest pain, fainting, fatigue, leg swelling and shortness of breath. Moreover, aortic stenosis can also lead to heart failure and sudden cardiac death. Transcatheter aortic valve replacement (TAVR) is a procedure which instead of removing the old, damaged valve, it wedges a replacement valve into the aortic valve’s place and the tissue in the replacement valve carry out the job of regulating blood flow that has been obstructed.
Transcatheter Aortic Valve Replacement Market: Drivers and Restraints
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.
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Transfemoral Implantation Segment Holds the Largest Share in the Transcatheter Aortic Valve Replacement Market
Based on the type of treatment, the market is segregated into transfemoral implantation approach and transapical implantation approach. Transfemoral implantation holds the largest share in the market due to the advantage of minimally invasive procedure, less recovery time and hospitalization costs. Transapical implantation is estimated to be the growing segment during the forecast period owing to its ease of use and fewer complications than other surgical procedures. This procedure facilitates better passage for device entry with any diameter which provides better tissue longevity.
Region Wise Performance of “Transcatheter Aortic Valve Replacement Industry”
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.
Transcatheter Aortic Valve Replacement Market: Competitive Analysis
Some of the major key players operating in global transcatheter aortic valve replacement (TAVR) Market are 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., and Transcatheter Technologies Gmbh among others.
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