Global Transcatheter Aortic Valve Replacement/Implantation (TAVR/TAVI) Market is valued USD 2,675 million in 2017 is anticipated to grow USD 8,140 million with the compounded annual growth of 13.5% over the forecast period 2018-2025.
New York 17 August 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Transcatheter Aortic Valve Replacement/Implantation (TAVR/TAVI) market industry is poised to raise USD 8,140 million by 2025. Rapidly growing population with heart diseases like Valvular heart diseases, artery diseases and advancements in the transcatheter aortic valves replacement procedure and increase in the implantation of TAVR devices are driving the Global Transcatheter Aortic Valve Replacement/Implantation (TAVR/TAVI) Market. Transcatheter aortic valve replacement (TAVR), also known as transcatheter aortic valve implantation (TAVI), is a process of replacing the heart’s aortic valve through blood vessels. In this process, a long narrow catheter is inserted through the blood vessel by making a small incision in the chest. After the new valve is implanted, the catheter is removed back and the valve starts normal functioning. Cardiovascular diseases arise due to improper functioning of aortic valves, which in turn need to replace the valve with a suitable procedure. This surgical procedure is performed to treat high-risk patients suffering from aortic stenosis. These high-risk patients refer to the patients who cannot suffer surgical aortic valve replacement (SAVR) procedure. Patients having heart disease or diabetic patients face complications in open-heart surgery and that’s why TAVR is the feasible option. Transcatheter aortic valve replacement has higher survival rates in valvular heart disease patients. However, the risk of vessel damage and valve leakage problem in which Sometimes blood leaks around the new valve because of improper replacement, and high cost associated with TAVR are the factors that hinder the growth of Global Transcatheter Aortic Valve Replacement/Implantation (TAVR/TAVI) Market.
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Global Transcatheter Aortic Valve Replacement/Implantation (TAVR/TAVI) Market Size study, by Procedure (Transfemoral Implantation, Transapical Implantation, Transaortic Implantation) and by Regional Forecasts 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market players include Medtronic plc, Boston Scientific Corporation, Meril Life Sciences Pvt. Ltd. Inc., Edwards Lifesciences Corporation, St. Jude Medical Inc., JenaValve Technology Inc., Bracco SpA, Transcatheter Technologies GmbH, Abbott and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The North American region accounted for the significant market share, more than XX% of the total market in 2016.
- The Asia Pacific region will be the highest growing segment with respect to geographical segmentation, the region is likely to grow by XX% CAGR over the forecast period 2018-2025
Bizwit Research & Consulting LLP has considered following segments for the study:
- Transfemoral Implantation
- Transapical Implantation
- Transaortic Implantation
- North America
- Asia Pacific
- Latin America
- Rest of the World