April 13, 2020
According to the research report titled ‘Transcatheter Heart Valve Replacement Market Size By Product, By Surgical Approach, By Application Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, global transcatheter heart valve replacement market is predicted to surpass USD 10.5 billion by the year 2025.
Increased pervasiveness of valvular diseases and surging investments by market majors in transcatheter heart valve devices are major factors driving the market growth. However, high costs associated with the product along with lack of awareness pertaining to advanced technologies may hinder the growth of transcatheter heart valve replacement market.
By product type, the report states that transcatheter aortic valve replacement segment is presumed to expand with a CAGR of 9.6% during 2019-2025. Growing demand for transcatheter aortic valve devices for treating severe aortic stenosis is aiding the segmental growth.
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In terms of surgical approach, transaortic segment was worth USD 312.7 million in 2018 and will witness consistent growth throughout the forecast period. Growing demand for transaortic surgical approach owing to shifting preferences towards minimally invasive procedures is favoring the market outlook.
Based on the application spectrum, the report cites that transcatheter heart valve replacement market share from aortic valvular heart disease segment is set to record a growth rate of 9.9% between 2019 and 2025. Rising prevalence of cardiac arrests and high blood pressure and increasing consumption of tobacco leading aortic disorders have enhanced the adoption of transcatheter heart valve replacement devices.
Citing the end-use landscape, the market size from hospitals segment was worth USD 2,513.8 million in 2018 and is poised to amass significant growth during the study period. Rising popularity of hospitals for transcatheter heart valve replacement treatments is stimulating the industry outlook.
Considering the geographical landscape, the U.S. market generated USD 1,711.4 million in 2018 and will showcase continuous growth in the subsequent years, primarily due to technological advancements in cardiology and booming elderly population in the nation.
On the other hand, transcatheter heart valve replacement industry in India is expected to grow with a CAGR of 18% through 2025. Advancements in healthcare sector and high occurrence rate of cardiac diseases are promoting the business scenario in India.
CryoLife, Thubrikar Aortic Valve Inc., JC Medical, Edward Lifesciences, Medtronic Plc and Abbott are some companies boasting of their presence in the overall market.
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