The Transcatheter Heart Valve Replacement Market is poised for a remarkable surge, driven by the rising prevalence of cardiovascular diseases (CVDs) worldwide. Industry forecasts predict a robust Compound Annual Growth Rate (CAGR) of 14.8% for the market from 2023 to 2033. This phenomenal growth trajectory translates to a projected market valuation of approximately US$25.4 billion by 2033, signifying a significant expansion in this life-saving medical technology sector.
Rising CVD Cases Drive Demand for Advanced Solutions
This significant growth is directly attributed to the increasing number of individuals diagnosed with various CVDs. This escalating burden on global healthcare systems necessitates the development and implementation of sophisticated technologies in the medical field. Transcatheter heart valve replacement (THVR) offers a minimally invasive alternative to traditional open-heart surgery, making it a preferred option for many patients.
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Advent of Telehealth and Virtual Care to Create Tailwind for the Transcatheter Heart Valve Replacement (THVR) Market Growth
Digitization is making deeper inroads across diverse industries, such as healthcare, owing to the increasing penetration of the internet and smartphones across the world.
During the COVID-19 outbreak, healthcare practitioners and patients realized the importance of digitization and encouraged them to adopt virtual methods of patient examination and consultation to counter the regulations concerning social distancing. This gave rise to a new medical domain, Telehealth.
Since the outbreak, telehealth has gained immense popularity, especially among the geriatric population, owing to the convenience associated with it. Hence, increasing adoption of telehealth across radiology, behavioral health, cardiology, and online consultation is expected to create lucrative opportunities for growth in the Transcatheter Heart Valve Replacement (THVR) market.
Transcatheter Heart Valve Replacement Industry Key Takeaways and Projections
- The U.S. is estimated to continue dominating the North American market, projecting the fastest growth in the region through 2031.
- Germany’s Transcatheter Heart Valve Replacement (THVR) market is forecast to register robust growth in Europe, accounting for a significant share in the region between 2021 and 2031.
- China is expected to account for the maximum revenue share in the East Asia market, exhibiting the fastest sales growth during the assessment period.
- India is forecast to emerge as a highly remunerative market in South Asia, contributing to the largest sales in the region over the coming 10-years.
Report Benefits & Key Questions Answered
- Transcatheter Heart Valve Replacement (THVR) Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities, and challenges in the Transcatheter Heart Valve Replacement (THVR) market. It also studies the impact of these dynamics on the market for the previous assessment period 2016-2020 to forecast the scope of market growth over the coming forecast period 2023-2033.
- Transcatheter Heart Valve Replacement (THVR) Demand-Supply Assessment: The latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Transcatheter Heart Valve Replacement (THVR) market. As per the survey, Global Transcatheter Heart Valve Replacement Industry sales will project steady growth over the forecast period.
- Global Transcatheter Heart Valve Replacement Industry Structure Analysis: The report provides detailed market information the concentration of key players and tier analysis in the Transcatheter Heart Valve Replacement (THVR) market. It also categorizes market players as Tier 1, Tier 2, and Tier 3 in terms of their percentage share and product portfolio.
- Transcatheter Heart Valve Replacement (THVR) Category & Segment Level Analysis: FMI’s category & segment level analysis provides insights into key factors affecting the market growth across various segments in terms of (segment 1), (segment 2), and (segment 3). It also uncovers critical opportunities across each segment to assist key players to capitalize on the Global Transcatheter Heart Valve Replacement Industry
- Trend Analysis: FMI’s market trend analysis provides compelling insights into current and upcoming trends in the healthcare industry. It also assists the industry players in identifying potential trends to formulate a strategy to take advantage of these existing trends.
Transcatheter Heart Valve Replacement Market Key Companies Profiled:
- Abbott
- Edwards Lifesciences Corporation
- Medtronic
- Boston Scientific Corporation
- JenaValve Technology, Inc
- Meril Life Sciences
- Sahajanand Medical Technologies Limited
- MicroPort Scientific Corporation
- Venus Medtech (Hangzhou) Inc.
- Suzhou Jiecheng Medical Technology Co. Ltd.
- Peijia Medical Limited.
- Blue Sail Medical Co., Ltd.
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Key Segments Covered in the Transcatheter Heart Valve Replacement Industry Research
Product:
- Self – Expandable Transcatheter Aortic Valves
- Balloon-Expandable Transcatheter Aortic Valves
- Mechanically Expanded Transcatheter Aortic Valves
Indication:
- Severe Aortic Valve Stenosis
- Valve-in-Valve Procedures (Failed Bioprosthesis)
- Aortic Regurgitation
End User:
- Hospitals
- Independent Cardiac Catheterization Labs
- Ambulatory Surgical Centres
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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