The transcatheter aortic valve replacement (TAVR) market is estimated to grow from USD 7.04 billion in 2022 to USD 22.72 billion by 2028 at a CAGR of 21.19% during the forecast period.
A Transcatheter aortic valve replacement (TAVR), also known as Transcatheter aortic valve implantation (TAVI) is a minimally invasive surgical process that treats the aortic valve by substituting a new biological valve into the old aortic valve’s place without removing the damaged valve. The TAVR method, which is relatively like a stent placed in an artery, is carried out by inserting a fully collapsible replacement valve into the aortic valve site with the help of a catheter.
COVID-19 Impact On Transcatheter Aortic Valve Replacement (TAVR) Market
There has been a more than 50% drop in the number of cardiovascular patients and those diagnosed with myocardial infection post-COVID-19 period thus affecting the TAVR demand. However, the patients who were previously accepted for Surgical Aortic Valve Replacement (SAVR) are now being reconsidered for TAVR which, holds some advantages such as a shorter hospital stay and a reduced need for intensive treatment unit or mechanical ventilation, thus positively influencing the market growth.
Key Players
Key players operating in the global transcatheter aortic valve replacement (TAVR) market are-
A growing number of patients worldwide suffering from cardiovascular diseases such as coronary artery diseases, heart failure, and hypertension is a prime factor bolstering thetranscatheter aortic valve replacement (TAVR) market growth.
Cardiovascular diseases result in improper functioning of aortic valves, which, in turn, accelerates the demand for efficient valve replacement procedures.
Also, the rising adoption of TAVR in developing countries offers ample opportunities to industry participants.
However, high risk during surgery and high cost are restraining factors hampering the product demand.
Transcatheter Aortic Valve Replacement (TAVR) Market: By Procedure Trends
The market has been segmented into transfemoral, transapical, transaortic, and others.
Under these, transfemoral implantation dominated the market in 2022 and is likely to register a steady CAGR in the coming years.
This is mainly attributed to advanced technology such as vascular closure systems.
This implantation is minimally invasive, enabling faster recovery, thus reducing the overall length of hospital stay, and thus driving the segment growth.
Regional Trends
The North American market witnessed the largest market share in 2022 and is projected to grow at a significant CAGR during the review period.
This is majorly attributed to mergers & acquisitions, high adoption of technologically advanced products, and favorable reimbursement policies.
For instance, reimbursement from government groups such as the Centers for Medicare & Medicaid Services (CMS) helps patients to opt for transcatheter aortic valve replacement procedures.
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Target Audience
The following is a list of the customers that the Transcatheter Aortic Valve Replacement (TAVR) market aims to convert the most:
Transcatheter aortic valve replacement companies
Cardiovascular diseases treatment organizations
R&D organizations
Hospitals
Government organizations
Critical Questions Answered in the Report
What are the key trends in the global transcatheter aortic valve replacement market?
How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
What is the impact of COVID-19 on the global transcatheter aortic valve replacement market?
What are the key strategies adopted by the major vendors to lead in the global transcatheter aortic valve replacement market?
What is the market share of the top vendors?
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence most comprehensively. The transcatheter aortic valve replacement (TAVR) market report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Transcatheter Aortic Valve Replacement (TAVR) Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
What are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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A Transcatheter aortic valve replacement (TAVR), also known as Transcatheter aortic valve implantation (TAVI) is a minimally invasive surgical process that treats the aortic valve by substituting a new biological valve into the old aortic valve’s place without removing the damaged valve. The TAVR method, which is relatively like a stent placed in an artery, is carried out by inserting a fully collapsible replacement valve into the aortic valve site with the help of a catheter.
Medtronic plc (Ireland), Boston Scientific Corporation (The U.S), Meril Life Sciences Pvt. Ltd., Inc. (India), Edwards Lifesciences Corporation (The U.S), St. Jude Medical, Inc. (The U.S), JenaValve Technology, Inc. (The U.S), Bracco SpA (Italy), Transcatheter Technologies GmbH (Germany), Abbott (The U.S) and Symetis SA (Switzerland) are among the key players
The growing number of patients worldwide suffering from cardiovascular diseases such as coronary artery diseases, heart failure, and hypertension, and the rising adoption of TAVR in developing countries are the factors driving the growth market.
Transcatheter aortic valve replacement companies, Cardiovascular diseases treatment organizations, R&D organizations, Hospitals, Government organizations are the target audience in the market.
