WASHINGTON, May 02, 2023 (GLOBE NEWSWIRE) -- Global Transcatheter Aortic Valve Replacement Market is valued at USD 5.5 Billion in 2022 and is projected to reach a value of USD 8.8 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 7% over the forecast period 2023-2030.
Market Overview
The prevalence of aortic stenosis is rising, there is a greater need for different TAVI treatments, and there have been technological breakthroughs in the transcatheter aortic valve implantation industry. Since older people are more prone to aortic stenosis, the growing geriatric population also contributes to the growth of the TAVI market.
We forecast that the commercial facilities category in Transcatheter Aortic Valve Replacement market sales will account for more than 36% of the market share by 2030 because of successful results. The longer insertion distance from the aortic valve causes certain difficulties with this implantation. In the standardized TAVI method, known as transfemoral implantation, an artificial valve is inserted into the femoral artery using only a small amount of anesthetic.
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Market Dynamics
Growing Elderly Population will Support Market Expansion
The aging population is a major growth driver in the TAVR market. Older persons are more likely to have aortic stenosis than younger adults, and the likelihood of having it rises with age. The need for TAVR operations is anticipated to rise as the world's population ages. Furthermore, TAVR is a more appealing choice for elderly folks who are frequently unsuitable candidates for standard open-heart surgery because of their age or other medical issues. Age-related aortic stenosis patients are anticipated to choose TAVR as a treatment option more frequently as the technology develops and becomes more generally accessible.
Advancement in Technology to Boost Market Expansion
The TAVR market has grown significantly due to improvements in TAVR technology. The TAVR process has benefited from several technological developments, including changes in tools, materials, and procedures. One of the most important developments in TAVR technology has been creation of new tools and methods that have increased the procedure's effectiveness and safety. For instance, more recent TAVR devices offer better valve location and a lower risk of problems, including bleeding and stroke. Moreover, improvements in TAVR technology have increased the procedure's affordability and accessibility.
Top Players in the Global Transcatheter Aortic Valve Replacement Market
- Medtronic PLC (U.S.)
- Abbott Laboratories Inc. (U.S.)
- Boston Scientific Corp. (U.S.)
- Meril Life Sciences Pvt. Ltd. Inc. (India)
- Edwards Lifesciences Corp. (U.S.)
- St. Jude Medical Inc. (U.S.)
- JenaValve Technology Inc. (U.S.)
- Bracco SPA (Italy)
- Transcatheter Technologies GmbH (Germany)
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Top Trends in Global Transcatheter Aortic Valve Replacement Market
- One trend that Vantage Market Research (VMR) expects to see in the Transcatheter Aortic Valve Replacement industry is increasing cardiovascular disorders prevalence. One of the major drivers of the Transcatheter Aortic Valve Replacement market is the rising number of patients with cardiovascular disease. Aortic valve dysfunction results from cardiovascular illnesses, which increases the need for effective valve replacement surgery. Aortic stenosis is becoming more common, which has increased the requirement for transcatheter aortic valve implantation.
- Another trend that VMR predicts will continue in the Transcatheter Aortic Valve Replacement industry is the rising popularity of minimally invasive procedures. Growing technological developments, a rise in the desire for minimally invasive catheter-based operations compared to open heart surgery, and patients choosing an effective and efficient therapy with a rapid recovery are all driving the market's expansion.
Top Report Findings
- The Transfemoral category controls most of the Transcatheter Aortic Valve Replacement market's revenue, based on the segment Implantation Procedure. Due to its ease of use, early mobility potential, availability of awake procedures, fast-track protocols, and minimal surgical incisions, the transfemoral technique has grown to be the patients' preferred method as compared to surgical aortic valve replacement (SAVR).
- Based on the Material, most of the Transcatheter Aortic Valve Replacement market's revenue is controlled by the nitinol category. Nitinol is a nearly equal parts alloy of nickel and titanium. Additionally, it is frequently used in most TAVR devices because of its unique qualities, such as its biocompatibility, flexibility, fatigue resistance, and lack of magnetism, which allow medical devices in minimally invasive surgeries and implants to provide improved outcomes, thereby boosting segment growth.
- Based on the Mechanism, most of the Transcatheter Aortic Valve Replacement market's revenue is controlled by the Balloon-Expanding Valve category. In TAVR operations, the balloon-expanding valve is most frequently employed. It makes coronary access easier since balloon-expanding valves are non-repositionable, intra-annular, and have a reduced stent frame profile.
- Based on End-Use, most of the Transcatheter Aortic Valve Replacement market's revenue is controlled by hospitals categories. The main factors influencing hospitals' market shares in the global Transcatheter Aortic Valve Replacement (TAVR) market are the expanding patient base and increased desire for surgeries that are quick to recover from and shorten hospital stays.
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Recent Developments in the Global Transcatheter Aortic Valve Replacement Market
- In September 2022, OpSens Inc. announced that SavvyWire, their innovative guidewire for TAVR procedures, had received FDA authorization for 510(k) regulatory clearance.
- In April 2019, with the LOTUS Edge Aortic Valve System, Boston Scientific Corp. gained FDA approval. Only the LOTUS Edge valve technology, which has received FDA approval, allows doctors to completely recapture and reposition the valve after it has been fully deployed.
Transfemoral Category in of the Implantation Procedure Segment of the Global Transcatheter Aortic Valve Replacement Market Forecast to Generate a Substantial Revenue in the Projected Timeline
For better understanding, based on the Implantation Procedure, the Transcatheter Aortic Valve Replacement market is divided into Transfemoral, Transapical, and Transaortic.
The Transfemoral segment is expected to dominate the Transcatheter Aortic Valve Replacement market due to the benefits of minimally invasive surgery, shorter recovery times, and lower healthcare expenses. The conventional TAVI procedure involves transfemoral implantation, in which the prosthetic valve is inserted with little anesthetic through the femoral artery. Due to its successful results, most doctors now accept the surgery.
On the other hand, it is anticipated that the Transapical category will be the fastest growing category in the Transcatheter Aortic Valve Replacement market. The aortic valve and left ventricular apex are close to the transapical approach, which improves operator mobility during device implantation and allows the use of sheaths with bigger diameters. Numerous companies have designed and produced cutting-edge transapical devices.
North America Region of the Global Transcatheter Aortic Valve Replacement Market Anticipated to Account a Substantial Revenue
North America dominated the market throughout the projection period because of its well-established healthcare system and the rising prevalence of conditions like regurgitation and AS. Growth in the region is projected to be fueled by the increased prevalence of AS illnesses and aortic regurgitation in the populace over the forecast period. Moreover, the increase is credited with mergers and acquisitions, widespread use of technologically improved products, and favourable reimbursement rules. For instance, patients who choose Transcatheter Aortic Valve Replacement treatments benefit from reimbursement from government organizations like the Centers for Medicare & Medicaid Services (CMS).
The Asia Pacific is expected to be the fastest growing Transcatheter Aortic Valve Replacement market due to rising aortic stenosis disease prevalence, expanding healthcare infrastructure, and increased knowledge of transcatheter aortic valve implantation. Because of its vast population and numerous cardiovascular and lifestyle illnesses, Asia-Pacific presents a lucrative potential for participants in the transcatheter aortic valve implantation market. In addition, rising transfemoral TAVI operations in developing nations like China and India are key drivers of market expansion.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Transcatheter Aortic Valve Replacement Market Forecast Report (2023-2030).
Global Transcatheter Aortic Valve Replacement Market Segmentation
By Implantation Procedure
- Transfemoral
- Transapical
- Transaortic
By Material
- Stainless Steel
- Nitinol
- Cobalt Chromium
- Other Materials
By Mechanism
- Balloon-expanding Valve
- Self-expanding Valve
By End-Use
- Hospitals
- Ambulatory Surgical Centers
- Other End-Uses
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 5.5 Billion |
| Revenue Forecast by 2030 | USD 8.8 Billion |
| CAGR | 7% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Medtronic PLC, Abbott Laboratories Inc., Boston Scientific Corp., Meril Life Sciences Pvt. Ltd. Inc., Edwards Lifesciences Corp., St. Jude Medical Inc., JenaValve Technology Inc., Bracco SPA, Transcatheter Technologies GmbH |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/transcatheter-aortic-valve-replacement-market-2105/request-sample |
Key Questions Answered in the Transcatheter Aortic Valve Replacement Market Report are:
- What is the current market size of the TAVR industry, and what are the projected growth rates?
- What are the key drivers, restraints, and trends influencing the TAVR market?
- Who are the major players in the TAVR market, and what is their market share?
- What are the different types of TAVR devices available in the market, and what are their respective market shares?
- What is the current regulatory landscape governing TAVR devices, and how is it expected to evolve?
- What are the different end-users of TAVR devices, and what is the market share of each?
- What are the different geographies where TAVR devices are being used, and what is the market share of each?
- What are the major challenges faced by the TAVR industry, and how can they be overcome?
- What are the future opportunities for growth and investment in the TAVR market?
- What is the competitive landscape of the TAVR industry, and how is it expected to evolve in the future?
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