Transcatheter Aortic Valve Implantation (TAVI) Market Are Projected To Provide Several Growth Opportunities for the Market throughout the Forecast Period
Percutaneous aortic valve replacement (TAV) is a minimally invasive procedure performed to treat high-risk patients with aortic stenosis. This high-risk patient refers to a group of patients who can not undergo surgery and can not undergo surgical aortic valve replacement (SAVR). Because open-heart surgery is too risky, older people aged 75 years or older belong to the high risk group. TAVR involves the insertion of a percutaneous aortic valve to regenerate the circulatory capacity of the aortic valve. Increased aortic stenosis is increasing the need for aortic valve replacement.
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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.
The TAVI market is in the growth phase and is dominated by an increase in the prevalence of aortic stenosis and an increase in the elderly population. Increasing adoption rates of aortic grafts, along with new device approvals and medical infrastructure improvements in developing countries, are another factor driving market growth. However, the high cost of percutaneous aortic valves and implant procedures hamper the growth of the TAVI market due to the reimbursement of such devices and the lack of rigorous approval.
The report categorizes the TAVI market based on the approach used for transplantation. Three types of approaches are used to insert aortic valves primarily into femoral, femoral, and aortic inserts. Transfemoral implantation was the highest monetization segment (value and volume) in the global market in 2017 because it does not require thoracic incision. The aortic area is expected to grow at a CAGR of 19.1% (on a value basis) and 20.1% (on a quantity basis) by 2015 due to the positive results 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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