Global transcatheter aortic valve replacement (TAVR) market is expected to reach USD 4.29 billion by 2021 from USD 1.84 billion in 2016, growing at a CAGR of 18.50% during the forecast period 2016-2021.
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Transcatheter aortic valve replacement (TAVR) is described as minimally invasive procedure replaces the improper functioning aortic valves. TAVR offers an efficient valve replacement procedure as compared to open-heart surgery for the benefit of high risk patients.
Transcatheter heart valve replacement systems are referred as cardiovascular devices replace the old and damaged valves. TAVR is used for the treatment of aortic valve disorders such as severe aortic stenosis, degeneration, & regurgitation.
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TAVR is performed during different surgery methods such as transfemoral implantation (through the femoral artery), transapical implantation (through the apex of the heart), transaortic implantation (through the top of right chest), and transcaval implantation (through the femoral vein).
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Growing adoption of minimally invasive therapies, increasing number of severe aortic stenosis disorder patients, rising number of clinical trials cardiovascular indications, and growing number of product launches in this market are driving the growth of global transcatheter aortic valve replacement (TAVR) market. In addition, rising technological advancements, increasing demand for minimally invasive catheter-based procedures as compared to conventional open heart therapies, and growing number of patients choosing an efficient & effective therapy with quick recovery are further propelling the growth of global transcatheter aortic valve replacement (TAVR) market.
However, risk associated with TAVR procedures, high costs pertaining to transcatheter aortic valves, lack of skilled professionals in certain regions of developing markets, and device related issues (such as device recalls, improper positioning of devices during implantation) are some of the factors restraining the growth of global transcatheter aortic valve replacement (TAVR) market.
Global transcatheter aortic valve replacement (TAVR) market is segmented based on surgery method, valve frame material, valve size, valve leaflets material, and end users. Based on surgery method, the market is sub-segmented as transfemoral implantation, transapical implantation, transaortic implantation, and transcaval implantation.
Of these, transfemoral is estimated to command the largest share of global transcatheter aortic valve replacement (TAVR) market by surgery method in 2016 and expected to grow at the highest CAGR during the forecast period. Based on valve frame material, the market is segmented as nitinol, stainless steel, and cobalt-chromium.
Of these, nitinol segment is expected to account for the largest share of global transcatheter aortic valve replacement (TAVR) market by valve frame material in 2016.
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Transcatheter valve size market is segmented as 14mm to 18mm, 18mm to 22mm, and 22mm to 29mm. Based on valve leaflets material, the market is segmented as bovine heart tissue, cow heart tissue, and other valve leaflets material.
Based on end users, the market is sub-segmented as hospitals, ambulatory surgical centres, & cardiac catheterization laboratories. Of these, hospital segment held the largest share of global transcatheter aortic valve replacement (TAVR) market by end users in 2016.
On the basis of geographical region the global transcatheter aortic valve replacement (TAVR) market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. North America is estimated to command the highest share of 34% of the global transcatheter aortic valve replacement (TAVR) market in 2016, whereas Asia-Pacific is estimated to grow at the highest CAGR of 21.20% during the forecast period 2016-2021.
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The key players in global transcatheter aortic valve replacement (TAVR) market such as, Edwards Lifesciences Corporation (U.S.), Medtronic, Inc. (Ireland), Boston Scientific Corporation (U.S.), Abbott Laboratories (U.S.), St. Jude Medical Inc. (U.S.), JenaValve Technology, Inc. (Germany), Symetis SA (Switzerland), Direct Flow Medical, Inc. (U.S.), Sorin Group (Italy), Meril Life Sciences India Pvt Ltd (India), and Braile Biomedica (Brazil).
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