Transcatheter aortic valve replacement (TAVR) is a minimally invasive surgical procedure to treat aortic stenosis. It is also known as transcatheter aortic valve implantation (TAVI). This surgical procedure is used to replace damaged heart valve and treatment of unembellished and mitral regurgitation aortic stenosis with the help of prosthetic valve that increases the survival rate of patients. TAVR is implanted to regenerate blood circulation capacity of the aortic valve. The transcatheter aortic valve replacement are high in demand nowadays. The rising demand of TAVR is due to increase in number of geriatric populations, rising number of cardiovascular disease patients, as cardiovascular diseases such as heart failures, hypertension, coronary artery diseases and many more lead to improper functioning of heart valves that in turn demand the treatment with TAVR in case of aortic valve treatment.
The global Transcatheter aortic valve replacement (TAVR) market is expected to register a growth of 18.3% CAGR during the forecast period 2018-2025 and is anticipated to reach USD 8,241.4 million by 2025. The market is estimated to grow at substantial rate, owing to wide adoption of minimally invasive surgeries across the globe and technological advancements in the field of healthcare that include the share of TAVR procedure, increasing focus of government towards healthcare sector of the countries are some of the crucial factors that are contributing in the market growth over the forecast period.
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Country insights from the Transcatheter Aortic Valve Replacement (TAVR) market research report
Indian Transcatheter Aortic Valve Replacement (TAVR) Market
The Indian healthcare market is facing an issue related to lack of epidemiological studies in country, apart from this there are various estimates available from other secondary sources that shows that the country is indicating a large scale of patients that are eligible for TAVR. Despite of high rate of adoption of TAVR among Indian population, the country witness various obstacles at manifold levels that include lack of coverage by insurance companies, high cost of TAVR, lacking government policies, lack of trained staff for post-TAVR care and lack of trained TAVR performing personnel. Regions such as North America and Europe covers whole cost of treatment under the government policies, whereas, India is lacking on this front and whole cost of treatment comes out from pocket of patients.
The Indian market lacks opportunity from the perspective of the Transcatheter Aortic Valve Replacement market. It is a crucial area of focus that require attention from the government and policy makers to leverage the benefits of technological advanced products such as TAVR to treat cardiovascular diseases that are increasing at high rate in the country.
U.S. Transcatheter Aortic Valve Replacement (TAVR) Market
As per the analysis, the U.S. Transcatheter Aortic Valve Replacement (TAVR) Market dominated the global market in 2018, that account for more than 35% of the market share. The market dominance is attributed to favorable reimbursement policies, high adoption of technologically advanced products, companies adopting market friendly strategies and high intervention of government in the form of public-friendly healthcare policies. For instance, in the U.S., the government organizations such as Centers for Medicare & Medicaid Services (CMS) support patients to choose for transcatheter aortic valve replacement procedure.
The global Transcatheter Aortic Valve Replacement (TAVR) Market was also studied on the basis of geographical segmentation such as North America, Asia-Pacific, Europe, Latin America and Middle East & Africa. North America is estimated to dominate the market, owing to rising number of aortic stenosis patients and increasing demand for minimally invasive surgery. Whereas, Asia Pacific is expected to witness a fastest growth during the forecast period due to accelerated economic growth, increasing investment in healthcare sector and rising medical awareness amongst population of the region.
Some of the major players present in the market are Boston Scientific Corporation, Medtronic plc, Direct Flow medical, Inc., JenaValve Technology, Inc., Transcatheter Technologies GmbH, Edwards Lifesciences Corporation, Meril Life Sciences Pvt. Ltd., HLT, Inc., SYMETIS SA, St. Jude Medical, Inc. and among others.
The report is contributory in answering several concerns by of global transcatheter aortic valve replacement (TAVR) market stakeholders such as manufacturers, raw material suppliers, distributors and other allies. The market report will help them in strategizing investments, analyzing market condition, determining the opportunities, challenges of this industry.
Key Topics Covered:
Table of Contents – Major Key Points
- Overview and Scope
- Executive Summary
- Transcatheter Aortic Valve Replacement (TAVR) Market Insights
- Transcatheter Aortic Valve Replacement (TAVR) Market Size and Forecast by surgical procedure
- Transcatheter Aortic Valve Replacement (TAVR) Market Size and Forecast by End User
- Transcatheter Aortic Valve Replacement (TAVR) Market Size and Forecast, 2018-2026 by Region
- Company Profiles
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