With A CAGR of 16.4%, Global Transcatheter Aortic Valve Replacement System Market is Projected To Grow During Forecast Period 2017-2024

Transcatheter aortic valve replacement is a minimal invasive surgical procedure. This procedure is used to treat or repair old and damaged aortic valve without removing it. The procedure which is used to wedges a replacement valve into the place of old aortic valve is known as transcatheter aortic valve replacement system or transcatheter aortic valve implementation. As soon as the replacement aortic valve is placed the blood circulation starts again in the human body system. New technologies are developing for better surgery results such as lotus edge valve system. These next generations controlled mechanical expansion TAVR technologies are likely to transform the procedure and performance of the transcatheter aortic valve replacement system in near future.

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Market Size & Forecast

Global transcatheter aortic valve replacement system market is projected to grow at a compound annual growth rate (CAGR) of 16.4% over the forecast period i.e.2017-2024. Further, increasing geriatric population all across the globe coupled with rising prevalence of aortic stenosis in aged people are key factors which are likely to fuel the growth of global transcatheter aortic valve replacement system market during the forecast period.

In terms of region, global transcatheter aortic valve replacement system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America & Europe regions are the major market of transcatheter aortic valve replacement system. Moreover, Europe region is one of the major markets of transcatheter aortic valve replacement system and is anticipated to grow at a remarkable compound annual growth rate (CAGR) of 17.5 % during forecast period. Rising prevalence of aortic stenosis and presence of good healthcare infrastructure are some major factors which are likely to foster the growth of Europe transcatheter aortic valve replacement system market over the forecast period.

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Further, North America transcatheter aortic valve replacement system market is expected to expand at a robust pace during the forecast period owing to the factors such as rapid introduction of advanced technologies and innovative products in healthcare market in this region. Moreover, Middle East & Africa region is also predicted to grow at a satisfactory rate due to sudden rise in prevalence of cardiovascular diseases and growing geriatric population in Middle East & Africa region.

Additionally, increasing awareness amongst the people regarding minimal invasive surgeries and growing enhancement of healthcare infrastructure in Asian countries are some of the major factors which are likely to bolster the growth of Asia Pacific transcatheter aortic valve replacement system market during the forecast period.

Leading Key Players of Global Market:

Abbott Laboratories, Cook Group Incorporation, Cordis Corporation, Edward Lifesciences Corporation, Medtronic Inc., Boston Scientific Corp., JenaValve Technology Inc., St. Jude Medical, Direct Flow Medical Inc., HLT Inc., Scope & Context

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Growth Drivers & Challenges

The global market of transcatheter aortic valve replacement system is primarily driven by growing geriatric population coupled with growing prevalence of aortic stenosis diseases in old population all across the globe. Further, rising prevalence of cardiovascular diseases in geriatric population is fostering the growth of transcatheter aortic valve replacement system market.

Additionally, rapid introduction of advanced technology in surgical procedures coupled with rising adoption of innovative technologies in healthcare sector is also a major factor which is driving the growth of global market of transcatheter aortic valve replacement system. Moreover, growing enhancement of healthcare infrastructure in order to provide every possible treatment to the consumers is also driving the growth of global transcatheter aortic valve replacement system market.

Furthermore, rising awareness amongst the patients regarding minimally invasive surgical procedures is also fostering the growth of global transcatheter aortic valve replacement system market. These minimally invasive surgical procedures offer advantages including less traumatic surgical experience, reduced hospital stay and faster recovery.

However, high cost of these procedures is a major challenge to the growth of transcatheter aortic valve replacement system market. Furthermore, lack of availability of these procedures in low emerging economies is also expected to hamper the growth of transcatheter aortic valve replacement system market in near future.

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Original Source:
https://www.marketwatch.com/press-release/with-a-cagr-of-164-transcatheter-aortic-valve-replacement-system-market-is-projected-to-grow-during-forecast-period-2017-2024-2019-10-04

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