|10-08-2018 11:39 AM CET - Health & Medicine||
Rapid Growth of Transcatheter aortic valve implantation (TAVI) market | Top Key Companies - Abbott Laboratories, Boston Scientific Corporation (Symetis SA), Bracco S.p.A. (HLT, Inc.), Edwards Lifesciences Corporation, JenaValve Technology, Inc., JC Medica
Press release from: Allied Market Research
Transcatheter aortic valve implantation (TAVI) market is projected to extent $8,138 million by 2025, rising at a CAGR of 13.8% from 2018 to 2025. The volume market was valued at 107,011 units in 2017 and is expected to reach 337,778 units by 2025, growing at a CAGR of 14.8% from 2018 to 2025.
Transcatheter aortic valve implantation (TAVI), also called as transcatheter aortic valve replacement (TAVR), is a minimally invasive surgical procedure, which is performed to treat high-risk patients suffering from aortic stenosis. These high-risk patients refer to the patient population that are inoperable and cannot undergo surgical aortic valve replacement (SAVR) procedure. Older population (above 75 years of age) falls under the high-risk category, as the open-heart procedure is too risky for them. TAVR involves implantation of transcatheter aortic valves to regenerate the blood circulation ability of the aortic valve. The need of transcatheter aortic valve implantation is on the rise due to the increase in prevalence of aortic stenosis.
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Key players have adopted product approval as their key strategy to enhance their product offerings by expanding the usage of transcatheter aortic valves for new indications, such as intermediate risk aortic stenosis patients.
The key players profiled in this report include
• 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
• Venus Medtech, Inc.
In addition, increase in adoption rate of transcatheter aortic implantation along with new device approvals and improvement of healthcare infrastructure in developing countries are other factors that fuel the market growth. However, high cost of transcatheter aortic valve and its implantation procedures, along with lack of reimbursement and stringent approvals for these devices, hamper the growth of the TAVI market.
Transcatheter aortic valve implantation (TAVI) market segmented based on the approach used for implantation. Mainly, three types of approaches are used to implant the transcatheter aortic valve in patients-transfemoral, transapical, and transaortic implantation. Transfemoral implantation was the highest revenue-generating segment in the global market (in terms of value and volume) in 2017, as it does not require a chest incision. Furthermore, transaortic segment is projected to grow at the highest CAGR of 19.1% (in terms of value) and 20.1% (in terms of volume) by 2025, due to positive outcomes of several clinical trials.
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Key Findings of the Transcatheter Aortic Valve Implantation (TAVI) Market:
• In 2017, transfemoral implantation generated the highest revenue, and is projected to grow at a CAGR of 13.2% (in terms of value) during the forecast period.
• Both in terms of value and volume, the Europe TAVI market is expected to maintain its leading position during the forecast period.
• Asia-Pacific is expected to be the fastest growing region, and is expected to grow with a CAGR of 18.6% (in terms of value) from 2018 to 2025.
• Germany was the leading country whereas the UK is projected to be the fastest growing country in the Europe TAVI market.
• India is the fastest growing country in the Asia-Pacific TAVI market and is expected to grow at a CAGR of 29.8% (in terms of revenue) from 2018 to 2025.
Europe accounted for a major share in the global TAVI market (in terms of value and volume) in 2017, and is expected to maintain this trend. This is attributed to the rise in prevalence of severe aortic stenosis cases coupled with the increase in population of inoperable patients, and high adoption rate of advanced transcatheter aortic valves. However, Asia-Pacific is estimated to grow at a high CAGR (in terms of value and volume) throughout the analysis period, owing to the presence of ample growth opportunities in terms of unmet medical needs for the treatment of aortic stenosis and increase in awareness about TAVI procedures among physicians.
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
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