Report Summary

The global Transcatheter Aortic Valve Replacement (TAVR) market size is estimated to grow at a CAGR of 18.3% during the forecast period. Transcatheter Aortic Valve Replacement (TAVR), also known as Transcatheter Aortic Valve Implantation (TAVI) is a minimally intrusive surgical process that repairs the valve without removing the damaged or old valve. As an alternative, the process segments an additional valve into the aortic valve's place. Generally, the valve replacement procedure requires an open-heart surgery with a sternotomy, in which the chest is separated with the surgical process for the treatment. Where the TAVR processes can be done through minor openings that leave all the chest bones in place.

The global Transcatheter Aortic Valve Replacement (TAVR) market is majorly driven by factors such as severe aortic stenosis disorder, growing prevalence of mitral spewing, and rising demand for the less invasive procedure for high-risk patients. Valvular heart ailment is most predominant disorder among the geriatric population. For instance, approximately 5% of the global population is aged above 65 years who are at the risk of developing valvular heart disease. The number of geriatric population and the number of people suffering this disease are likely to expand during the upcoming period. Moreover, rising healthcare expenditure, global economic development, increasing obese population, and increasing prevalence of inoperable aortic stenosis are other factors driving the global transcatheter aortic valve replacement (TAVR) market. According to the American Heart Association, more than five million Americans are diagnosed with heart valve disease each year. Which in contrast increases the demand for aortic valve replacement.

The major key trends in global transcatheter valve replacement (TAVR) market takes an account of continuous research and development efforts by key investors, rising mergers, and acquisition of key investors to launch the new product series, favorable reimbursement policies, the government supports, technological advancement, and rising demand for minimally invasive procedures. However, harsh regulations, high risks associated with the TAVI surgery, and the high cost of TAVI devices are factors hindering the global market growth.

Segment Analysis

The global transcatheter valve replacement (TAVR) market is segmented on the basis of surgical procedure, end user, and geography. On the basis of surgical procedure, the global transcatheter valve replacement (TAVR) market is categorized into Transfemoral (TF) Implantation, Transapical (TA) Implantation, and Transaortic Implantation. The global market by the surgical procedure is dominated by Transfemoral (TF) Implantation majorly due to growing focus on tentative products by key players which are estimated to boost the market growth of transcatheter valve replacement (TAVR) market globally. Moreover, Transfemoral implantation is the standardized as well as consistent TAVR procedure, in which an artificial valve is inserted through the femoral blood vessel with the minimally invasive procedure and negligible anesthesia. Thus, the transferomal (TF) implantation segment accounted for the highest market share in 2017 and is anticipated to preserve the governance during the forecast period.

Based on the end users, the global transcatheter aortic valve replacement (TAVR) market is further categorized into hospitals, ambulatory surgical centers, and cardiac catheterization laboratory. The Hospital segment is expected to show the highest market growth over the forecast period. Growing patient pool and rising demand for efficient and effective surgical process with shorter recovery time and reduced hospital stay are the key factors driving the market shares for hospitals in global transcatheter aortic valve replacement (TAVR) market.

Regional Analysis

By geography, the global Transcatheter Aortic Valve Replacement (TAVR) Market is segmented into five major regions, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of geography, North America is the estimated to dominate the Transcatheter Aortic Valve Replacement (TAVR) Market. With the introduction of transcatheter heart valve replacement in the U.S. and a number of the patient pool with severe aortic stenosis and the rising demand for minimally invasive surgery and the market is expected to witness a remarkable growth in the forecast years. Moreover, the high adoption of technologically advanced devices are factors attributing the growth of the Transcatheter Aortic Valve Replacement (TAVR) Market in North America. The Asia Pacific is anticipated to make dominating growth in the forecast period owing to increasing medical awareness, escalating investment for development of healthcare, and accelerated economic growth.

Competitive Analysis

Some of the major key players operating in global Transcatheter Aortic Valve Replacement (TAVR) Market are Boston Scientific Corporation, Direct Flow medical, Inc., Edwards Lifesciences Corporation, HLT, Inc., JenaValve Technology, Inc., Medtronic plc, Meril Life Sciences Pvt. Ltd., St. Jude Medical, Inc., SYMETIS SA, and Transcatheter Technologies GmbH among others.