(I-BusinessNews.Com, October 16, 2019 ) Market Overview:
Transcatheter aortic valve replacement (TAVR) is a minimally invasive surgical procedure for heart disease in which the valve is used to replace the old or damaged heart valve. This procedure helps to reduce severe degenerative aortic stenosis and upsurges the survival rate of patients.
The Transcatheter Aortic Valve Replacement (TAVR) Market is driven by several growth factors such as rising prevalence of cardiovascular disorders such as heart failure (HF), coronary artery diseases (CAD), and hypertension. Cardiovascular diseases (CVDs) cause improper functioning of aortic valves, hence fuelling the demand for efficient valve replacement procedure.
By type, the Transcatheter Valve Replacement (TAVR) Market is segmented into transaortic implantation, transfemoral (TF) implantation, and transapical (TA) implantation. Among these, transfemoral (TF) implantation accounted for the largest market share in 2018 and estimated to grow at a significant growth rate during the forecast period.
In addition, due to advanced technological systems and various platforms by key players, the segment is growing further during the forecast period.
North America is dominating the transcatheter aortic valve replacement (TAVR) market in 2018 and estimated to hold largest market size over the forecast period (2019-2026), owing to rising prevalence of cardiovascular disease (CVD). It is one of the major cause of death, accounted for 840,678 deaths in the US in 2016, approx. 1 of every 3 deaths. Between 2013 and 2016, 121.5 million American adults had some form of cardiovascular disease.
Europe transcatheter aortic valve replacement (TAVR) market is growing at the highest growth rate during the forecast period (2019-2026) due to the rising cases of severe aortic stenosis along with growing elderly population, and high adoption rate of advanced transcatheter aortic valves.
The Transcatheter Aortic Valve Replacement (TAVR) market is dominated by few major players including Medtronic plc, Boston Scientific Corporation, St. Jude Medical, Inc., Edwards Lifesciences Corporation, HLT, Inc., JenaValve Technology, Inc., Direct Flow medical, Inc., Meril Life Sciences Pvt. Ltd., Transcatheter Technologies GmbH, SYMETIS SA, among others.
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