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Transcatheter Heart Valve Replacement (THVR) & Repair Market to be Valued at US$ 6,701.5 Mn by 2026
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Transcatheter heart valve replacement is a relatively non-invasive procedure to repair the damaged heart valves with bioprosthetic valves for treatment of valvular heart disease namely aortic stenosis and mitral regurgitation among geriatric population. It is an alternative approach to conventional open heart surgery, especially for extremely high risk patients. Transcatheter heart valve replacement & repair market was valued at US$ 1,605.5 Mn in 2015 and the revenue is expected to increase to US$ 6,701.5 Mn by 2026 at a CAGR of 13.9% over the forecast period.
The report offers market forecast and analysis on global transcatheter heart valve replacement & repair market, segmenting the market on the basis of product type, surgical approach, end user and region. The report segments the global transcatheter heart valve replacement & repair market into seven key regions namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa (MEA). According to PMR’s regional analysis, North America (U.S. and Canada) is the most lucrative market for transcatheter heart valve replacement & repair. This market in the region is expected to account for largest share throughout the forecast period, albeit exhibiting a slow growth rate. Asia Pacific is expected to be the fastest growing market for transcatheter heart valve replacement & repair, owing to increasing prevalence rate of cardiovascular diseases such as valvular heart disease and rising population in the region. Asia Pacific is estimated to account for 6.2 % revenue share by end of 2016 in the transcatheter heart valve replacement & repair market.
On the basis of product type, PMR has segmented the transcatheter heart valve replacement & repair market into TAVR (Transcatheter Aortic Valve replacement) and TMVR (Transcatheter Mitral Valve Repair). TAVR segment is expected to dominate the market through the forecast period and is anticipated to be the most lucrative segment. Due to high adoption rate of TAVR devices across the globe, this segment is expected to witness high incremental opportunity between 2016 and 2026.
On the basis of surgical approach, the transcatheter heart valve replacement & repair market has been segmented into transfemoral approach, transapical approach and transaortic approach. Transfemoral approach segment is expected to dominate the market through the forecast period and is anticipated to be the most lucrative segment. Due to high adoption rate of transfemoral approach by cardiologists, this segment is expected to witness high incremental opportunity.
On the basis of end user, the transcatheter heart valve replacement & repair market has been segmented into hospitals, ambulatory surgical centres and cardiac catheterization laboratories. As per PMR analysis, among end users, the hospitals segment accounted for highest revenue share in 2015 and is expected to witness fastest growth over the forecast period. This is mainly attributed to increasing patient population seeking effective and efficient treatment with shorter recovery time. Cardiac catheterization laboratory segment is also expected to exhibit significant growth during the forecast period, as it provides better treatment facilities and ease of access.
The report provides in depth insights about several factors such as increment in healthcare expenditure, key strategies of the participant companies, reimbursement policies and regulations affecting the transcatheter heart valve replacement & repair market.
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Some key market participants included in the PMR’s transcatheter heart valve replacement & repair market are Edwards Lifesciences Corporation, Medtronic, Inc., Boston Scientific Corporation, Abbott Laboratories, St. Jude Medical, Inc., St. Jude Medical, Inc., JenaValve Technology, SYMETIS, Braile Biomedica.
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