Worldwide transcatheter aortic valve replacement (TAVR) market is foreseen to accumulate around US $8,241.4 million by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2025.
Transcatheter aortic valve replacement is a surgical procedure for heart diseases involving the use of the transcatheter heart valve as a replacement for the old and damaged heart valve. Elaborately, TAVR is a minimally invasive procedure that helps substitute the damaged heart valve with a prosthetic heart valve for treating mitral regurgitation, and unembellished aortic stenosis. The TAVR process helps in eradicating severe degenerative aortic stenosis and improves patients’ survival rate.
The worldwide TAVR market is gaining momentum due to the increasing number of patients suffering from cardiovascular diseases like heart failures, coronary artery diseases, hypertension, etc. According to the statistics compiled by the WHO (World Health Organization), the total number of people affected with cardiovascular ailments would rise to 22.2 million by the year 2030.
The growing implementation of the minimally intrusive processes over the conventional open-heart surgeries, reduced hospital stays, minima blood loss, and lower infection risk are factoring that further drive market growth. Also, the rising incidences of aortic stenosis disorders along with the growing elderly population, higher implementation rate of the TAVR procedures, enhancement in clinical and medical indications, and new product approvals would support global TAVR market expansion.
By surgical procedure, the global transcatheter aortic valve replacement market can be bifurcated into Transapical (TA) Implantation, Transfemoral (TF) Implantation, and Transaortic Implantation. Currently, the global market is dominated by the TF Implantation segment owing to the increasing focus of key players on tentative products, thereby supplementing the TAVR market development. TF Implantation is a standardized and consistent TAVR procedure wherein an artificial valve is inserted by way of the femoral blood vessel, with minimally invasive surgery and slight anesthesia. Reportedly, the transferomal Implantation segment held the largest market share in 2017 and is expected to retain its position throughout the forecast period.
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The end-user landscape of the global TAVR market comprises hospitals, cardiac catheterization laboratories, and ambulatory surgical centers. Market analysts speculate that the hospital segment would expand at the highest rate during the estimated timeframe.
The broad competitive spectrum of the global transcatheter aortic valve replacement market includes renowned companies such as Boston Scientific Corporation, HLT Inc., Transcatheter Technologies GmbH, Meril Life Sciences Pvt. Ltd., Edwards Lifesciences Corporation, Direct Flow Medical Inc., St. Jude Medical Inc., Medtronic plc, JenaValve Technology Inc., and SYMETIS SA.
The latest report further entails a detailed examination of the global TAVR market drivers, restraints, and opportunities, along with explicating the current market scenario as well as future trends. It also takes into account the existing industry trends, Porter's five forces, PEST analysis, value chain analysis, regional landscape, competitive ranking analysis, and competitive vistas of the worldwide market.