The global transcatheter aortic valve replacement (TAVR) devices market size is anticipated to reach USD 12.2 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 22.6% during the forecast period. Increasing incidence of cardiovascular diseases and severe aortic stenosis disorder are among key factors augmenting the TAVR device market. Moreover, rising number of various clinical trials such as Edwards SAPIEN 3 and Medtronic Transcatheter Aortic Valve 2.0 Replacement System are likely to contribute to the growth of the market during the forecast period.
Improvements in surgical techniques and quality of implantable valves are leading to an increase in the adoption of aortic valve replacement procedures. Moreover, surging demand for minimally invasive surgeries as compared to traditional open heart procedures, availability of reimbursement for surgical procedures, and growing inclination of physicians towards TAVR procedures are projected to boost the growth of the market.
Launch of new devices with advanced technology for fast and effective treatment is poised to propel the market. For instance, in April 2016, St. Jude Medical launched a new device - Trifecta Valve with glide technology to be used in both conventional as well as minimally invasive procedures.
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Further key findings from the report suggest:
- The global Transcatheter Aortic Valve Implantation (TAVI) procedures market size is anticipated to reach USD 26.3 billion by 2025
- Transcatheter aortic valve implantation procedure is a feasible alternative to conventional by-pass surgery because of its minimally invasive nature and has lower risk of complications. Owing to its advantage, the demand for TAVR is expected to tread along a healthy growth track
- Transfemoral implantation accounted for the largest share in the market in 2017 as it is a minimally invasive procedure, which reduces the time of recovery and subsequently, hospitalization costs
- Transapical implantation is estimated to be the fastest growing segment during the forecast period owing to its ease of use and lesser complications than other implantation procedures. This procedure facilitates easy entry for device with any diameter providing better tissue longevity.
- Based on country, the U.S. dominated the market and is anticipated to retain its dominance during the forecast period due to increasing number of advanced surgical methods and rising incidence of cardiovascular diseases. According to American College of Cardiology Foundation, in 2017, more than 90 million Americans were diagnosed by CVD and 800,000 deaths were reported in the U.S.
- Italy is likely to witness considerable growth due to increase in awareness of minimally invasive procedures over traditional methods and rise in healthcare expenditure along with improvement in healthcare infrastructure
- Some of the key players in the market are Medtronic plc; Boston Scientific Corporation; Meril Life Sciences Pvt. Ltd., Inc.; Edwards Lifesciences Corporation; St. Jude Medical, Inc.; JenaValve Technology, Inc.; Bracco SpA; and Transcatheter Technologies GmbH.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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