PUBLISHER: The Business Research Company | PRODUCT CODE: 1350904
PUBLISHER: The Business Research Company | PRODUCT CODE: 1350904
“Transcatheter Aortic Valve Replacement Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on transcatheter aortic valve replacement market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for transcatheter aortic valve replacement? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The transcatheter aortic valve replacement market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the transcatheter aortic valve replacement market 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., and NaviGate Cardiac Structures Inc.
The global transcatheter aortic valve replacement market is expected to grow from $4.03 billion in 2022 to $4.63 billion in 2023 at a compound annual growth rate (CAGR) of 14.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The transcatheter aortic valve replacement market is expected to reach $7.76 billion in 2027 at a CAGR of 13.7%.
The transcatheter aortic valve replacement market consists of revenues earned by entities by providing services such as repairing the valve without removing the old damaged valve and placement of a heart valve into the body. The market value includes the value of related goods sold by the service provider or included within the service offering. The transcatheter aortic valve replacement market also includes sales of stainless steel stent, skirt and bovine pericardium leaflets, which are used in providing transcatheter aortic valve replacement services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Transcatheter aortic valve replacement (TAVR), also known as transcatheter aortic valve implantation (TAVI), is a minimally invasive medical procedure used to replace a diseased or malfunctioning aortic valve in the heart. It can be performed on adults who are not in good enough health to undergo standard valve surgery.
North America was the largest region in the transcatheter aortic valve replacement market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in transcatheter aortic valve replacement report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of transcatheter aortic valve replacement are self-expandable transcatheter aortic valves, balloon-expandable transcatheter aortic valves, and mechanically expanded transcatheter aortic valves. Self-expandable transcatheter aortic valves are medical devices used in a minimally invasive procedure called transcatheter aortic valve replacement (TAVR) or transcatheter aortic valve implantation (TAVI). These are made of valve frame material and valve leaflet material. Transfemoral implantation, transapical implantation, and transaortic implantation procedures can be done for aortic stenosis, aortic regurgitation, and others. These are performed by hospitals, independent cardiac catheterization labs, ambulatory surgical centers, and others.
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.
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.
In February 2022, Genesis MedTech Group, a Singapore-based medical device company, completed the acquisition of JC Medical for an undisclosed amount. Through this acquisition, Genesis adds J-Valve, a minimally invasive TAVR (transcatheter aortic valve replacement) device, to strengthen its position in the market. JC Medical is a US-based medical device company operating in the transcatheter aortic valve replacement market.
The countries covered in the transcatheter aortic valve replacement market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The transcatheter aortic valve replacement market research report is one of a series of new reports from The Business Research Company that provides transcatheter aortic valve replacement market statistics, including transcatheter aortic valve replacement industry global market size, regional shares, competitors with a transcatheter aortic valve replacement market share, detailed transcatheter aortic valve replacement market segments, market trends and opportunities, and any further data you may need to thrive in the transcatheter aortic valve replacement industry. This transcatheter aortic valve replacement market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.