Global Transcatheter Aortic Valve Implantation Market Size to Reach US$ 8.2 Bn by 2025 at a CAGR of 12%
Noida,Uttar Pradesh, India,Mar 04 2021 (WiredRelease) Report Ocean Pvt Ltd–:Global Transcatheter Aortic Valve Implantation Market is estimated to see healthy growth, pegged at a CAGR of ~12% during the forecast period 2020-2025. Transcatheter aortic valve implantation (TAVI), also called transcatheter aortic valve replacement (TAVR), is a minimally invasive surgical procedure performed to treat high-risk patients suffering from aortic stenosis. These high-risk patients refer to the inoperable patient population and cannot undergo surgical aortic valve replacement (SAVR) procedures. The older people (above 75 years of age) fall under the high-risk category, as the open-heart procedure is too risky for them. TAVR involves the implantation of transcatheter aortic valves to regenerate the blood circulation ability of the aortic valve. The need for transcatheter aortic valve implantation is on the rise due to the increase in aortic stenosis prevalence.
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Transcatheter aortic valve implantation market experiences growth due to the rise in the geriatric population. Furthermore, the advancements in the transcatheter aortic valves and an increase in TAVI devices’ adoption rate drive the market. However, the strong presence of stringent government regulations for approval of transcatheter aortic valves, class III medical devices, and high costs associated with transcatheter aortic valve implantation systems hamper the market growth. Conversely, the use of transcatheter aortic valve implantation systems for new indications, rise in healthcare expenditure in emerging economies, and increase in interest of key players in the global transcatheter aortic valve implantation systems industry are projected to provide several growth opportunities for the market throughout the forecast period.
Also, growing investments for research & development activities, new product launches, and favorable reimbursement policies are some of the factors probable to provide a boost to the market. The growing minimally invasive surgery (MIS) adoption and technological advancements in transcatheter aortic valve replacement procedures are likely to reduce the overall hospital stay. This, in turn, is poised to reduce healthcare expenditure and overall market growth.
Furthermore, geographic expansion, funding, and advanced devices & procedural methods adoption are estimated to boost the market’s growth during the forecast period. According to the Annals of Cardiothoracic Surgery (ACS), transcatheter aortic valve implantation systems are considered cost-effective in treating high-risk patients. In European and American countries, transcatheter aortic valve implantation systems are government-funded.
Japan is an exclusion among Asian countries, where the Japanese government primarily bears the overall treatment cost. In the rest of the Asian countries, patients are account for the whole treatment expenditure. There are also efforts being taken to advance and maintain the transcatheter aortic valve implantation systems registry in the domestic region. The Japan transcatheter aortic valve implantation systems registry has the data of more than 8,000 TAVR procedures conducted in Japan since 2013.
Segmentation Overview of the Global Transcatheter Aortic Valve Implantation Market
The transcatheter aortic valve implantation market has been segmented into Procedure. These major market segments are further categorized into various sub-segments to study the market in detail.
By Procedure Outlook (Transfemoral Implantation, Transapical Implantation, Transaortic Implantation)
Key Players Insights
Abbott Laboratories, Boston Scientific Corporation (Symetis SA), Bracco S.p.A. (HLT, Inc.), Edwards Lifesciences Corporation, JenaValve Technology, Inc., JC Medical, Inc., Medtronic plc, Meril Life Sciences Pvt. Ltd., NVT AG, and Venus Medtech, Inc., among others, are some significant players included in the research study of the global transcatheter aortic valve implantation market.
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