November 28, 2019
According to the research report titled ‘Global Transcatheter Aortic Valve Replacement (TAVR) Market (Value, Volume): Analysis By Type of Approach (Transfemoral, Transapical), By Region, By Country (2018 Edition): Forecast to 2023 - By Region (North America, Europe, APAC, ROW), By Country (U.S., Canada, Germany, France, United Kingdom, India, Japan China, Brazil, South Africa)’ available with Market Study Report LLC, the global transcatheter aortic valve replacement (TAVR) market is estimated to grow with a CAGR of 14.70% between 2018 and 2023.
Rising elderly population coupled with increasing awareness regarding minimally invasive devices among consumers are driving the growth of transcatheter aortic valve replacement (TAVR) market. Advancements in medical infrastructure and development of innovative devices are further expanding the market. The procedure is less invasive and provides better outcomes at lesser cost as compared to the traditional method of open-heart surgery, which in turn is fueling the demand for TAVR treatment methods across the globe.
As per type of approach, TAVR market is divided as transfemoral and transapical. According to the report, the transfemoral aortic valve replacement segment is projected to dominate the market over the forecast period, since it is used in 70-80% of total TAVR treatments throughout the world.
Considering the geographical landscape, the global TAVR market is divided into regions namely, Europe, North America, Asia-Pacific, and rest of the world with key focus on countries such as Canada, US, Germany, UK, France, Japan, India, China, South Africa, and Brazil.
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The report cites that North America TAVR market held the largest regional share in 2018. However, APAC transcatheter aortic valve replacement market is expected to grow substantially through 2023, pertaining to growing awareness regarding state-of-the-art heart valve treatments and rising market penetration by TAVR device manufacturing companies.
The key players in the global TAVR market are Medtronic, Edward Life Sciences, Boston Scientific Corp., Jena Valve, St. Jude Medical, and Meril Life Sciences Pvt. Ltd.
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