Press release
Transcatheter Aortic Valve Replacement Global Market Worth $8.79 Billion at a CAGR of 13.4% By 2028 | Abbott Laboratories Inc., Medtronic PLC, Bracco Group, LivaNova PLC, CryoLife Inc.
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033The Business Research Company offers in-depth market insights through Transcatheter Aortic Valve Replacement Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The transcatheter aortic valve replacement market size has grown rapidly in recent years. It will grow from $4.63 billion in 2023 to $5.32 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to rising prevalence of aortic regurgitation, rising prevalence of cardiovascular diseases, increasing patient preference for minimally invasive therapies, global expansion of tavr procedures, favorable reimbursement policies..
The transcatheter aortic valve replacement market size is expected to see rapid growth in the next few years. It will grow to $8.79 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to increasing prevalence of aortic stenosis, growing adoption of minimally invasive procedures, expansion of indications for tavr procedures, favorable reimbursement policies, rising awareness of tavr as a viable treatment avenue.. Major trends in the forecast period include continuous evolution of device technology, rising prevalence of cardiovascular diseases, global expansion of tavr procedures, aging demographic, rising healthcare expenditure..
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Market Segmentation:
The transcatheter aortic valve replacement market covered in this report is segmented -
1) By Product: Self-Expandable Transcatheter Aortic Valves, Balloon-Expandable Transcatheter Aortic Valves, Mechanically Expanded Transcatheter Aortic Valves
2) By Material: Valve Frame Material, Valve Leaflet Material
3) By Procedure: Transfemoral Implantation, Transapical Implantation, Transaortic Implantation
4) By Application: Aortic Stenosis, Aortic Regurgitation, Other Applications
5) By End-User: Hospitals, Independent Cardiac Catheterization Labs, Ambulatory Surgical Centers, Other End-Users
Major Driver - Rising Prevalence Of Aortic Stenosis Propels Growth In The Transcatheter Aortic Valve Replacement Market
The increase in the prevalence of aortic stenosis is one of the driving factors for the transcatheter aortic valve replacement market going forward. Aortic stenosis is a medical condition that refers to the narrowing the aortic valve in the heart. It can be treated with transcatheter aortic valve replacement (TAVR), a less invasive alternative to surgical aortic valve replacement (SAVR) that aid in restoring blood flow and reducing the signs and symptoms of aortic valve stenosis. For instance, in August 2021, according to the report published by the Baker Heart and Diabetes Institute, an Australia-based research institute, 500,000 and 600,000 Australians in 2021 were suffering from heart valve disease. Further, Aortic stenosis cases are expected to rise to 200,000 in 2031 and 266,000 in 2051, respectively. Therefore, the increase in the prevalence of aortic stenosis is driving the transcatheter aortic valve replacement market.
Competitive Landscape:
Major companies operating in the transcatheter aortic valve replacement market report are Abbott Laboratories Inc., Medtronic plc, Boston Scientific Corporation, Hilton Worldwide Holdings Inc, Edwards Lifesciences Corporation, Bracco Group, LivaNova PLC, CryoLife Inc., Meril Life Sciences Pvt. Ltd., Venus MedTech HangZhou Inc, Braile Biomedica, Sorin Group USA Inc., Peijia Medical Limited, Direct Flow Medical Inc., Transcatheter Technologies GmbH, Symetis SA, JenaValve Technology Inc., Micro Interventional Devices Inc., Xeltis BV, Tendyne Holdings Inc., MVRx Inc., Keystone Heart Ltd., Colibri Heart Valve LLC, HighLife SAS, Neovasc Inc., St. Jude Medical Inc., Aegis Surgical Limited, Foldax Inc., MValve Technologies Ltd., NaviGate Cardiac Structures Inc.
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Top Trend - Innovative Advancements In Transcatheter Aortic Valve Replacement Market
Product innovation is a key trend gaining traction in the transcatheter aortic valve replacement (TAVR) market. Companies operating in the transcatheter aortic valve replacement sector are focused on developing new technological and innovative solutions to strengthen their position in the market. For instance, in August 2021, Medtronic, a US-based medical device company, got approval for its Evolut FX TAVR system from U.S. Food and Drug Administration (FDA), a US-based federal agency. Evolut FX TAVR system is the newest-generation, self-expanding transcatheter aortic valve replacement system designed to enhance ease of use and provide greater precision and control throughout the procedure. The Evolut FX system uses the same supra-annular valve design that has been found to outperform surgical aortic valve replacement (SAVR) in large-scale, randomized clinical trials. The Evolut FX system includes a modified catheter tip for a smoother insertion profile and a more flexible delivery system with 360-degree freedom of motion and reliable, predictable deployment. Like its predecessor (Evolut PRO+), the new system has four-valve sizes for the greatest indicated patient treatment range and the lowest delivery profile currently available.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Transcatheter Aortic Valve Replacement Market Characteristics
3. Transcatheter Aortic Valve Replacement Market Trends And Strategies
4. Transcatheter Aortic Valve Replacement Market - Macro Economic Scenario
5. Transcatheter Aortic Valve Replacement Market Size And Growth
…..
27. Transcatheter Aortic Valve Replacement Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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