The global transcatheter heart valve replacement market has reached a significant valuation of USD 5.7 billion in 2022, with projections indicating robust growth at a compound annual growth rate (CAGR) of 14.8% throughout the forecast period. A recent study by Future Market Insights highlights the substantial advancements in minimally invasive cardiac procedures, which are driving this impressive market expansion.
Market Highlights
Balloon-expandable transcatheter aortic valves (TAVs) are at the forefront of this growth, commanding a market share of approximately 52.5% in 2022. These devices are favored for their effectiveness and ease of use, which contribute to their popularity among healthcare providers and patients alike.
Key Drivers of Market Growth:
- Rising Incidence of Heart Valve Disorders: The increasing prevalence of aortic stenosis and other heart valve diseases among the aging population is fueling demand for effective treatment options, including transcatheter heart valve replacements.
- Technological Advancements: Innovations in transcatheter valve technology are enhancing patient outcomes and safety. Improvements in device design and delivery systems are allowing for less invasive procedures and quicker recovery times.
- Growing Awareness and Acceptance: As awareness of transcatheter heart valve replacement procedures grows, more patients and healthcare professionals are recognizing the benefits of this minimally invasive approach compared to traditional surgical options.
- Supportive Regulatory Environment: The favorable regulatory landscape for medical devices is further encouraging research and development efforts, leading to a broader range of transcatheter heart valves entering the market.
As the transcatheter heart valve replacement market continues to evolve, stakeholders can expect ongoing innovations that will enhance the quality of care for patients with heart valve diseases.
The study highlights that balloon-expandable transcatheter aortic valves are leading the market, commanding a substantial share of approximately 52.5% in 2022. This segment’s dominance reflects the growing preference for balloon-expandable technologies due to their effectiveness and ease of use in heart valve replacement procedures.
The anticipated market expansion is driven by advancements in transcatheter heart valve technologies and an increasing prevalence of heart valve diseases. These innovations are enhancing patient outcomes and transforming the landscape of cardiac care.
Cardiovascular experts who treat some of the most complex heart conditions using cutting-edge technology and groundbreaking research, such as transcatheter aortic valve replacement (TAVR), lead several comprehensive programs. TAVR is a new, rapidly evolving therapy that provides patients with the best TAVR technology available.
Advent of Telehealth and Virtual Care to Create Tailwind for the Transcatheter Heart Valve Replacement (TAVI) 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 have 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 (TAVI) market.
Key Transcatheter Heart Valve Replacement (TAVI) Market Takeaways and Projections
- The U.S. is estimated to continue dominating the North America market, projecting fastest growth in the region through 2031.
- Germany Transcatheter Heart Valve Replacement (TAVI) 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 for the largest sales in the region over the coming 10-years.
Report Benefits & Key Questions Answered
- Transcatheter Heart Valve Replacement (TAVI) Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities, and challenges in the Transcatheter Heart Valve Replacement (TAVI) 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 2021-2031.
- Transcatheter Heart Valve Replacement (TAVI) 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 (TAVI) market. As per the survey, Transcatheter Heart Valve Replacement (TAVI) sales will project steady growth over the forecast period.
- Transcatheter Heart Valve Replacement (TAVI) Market Structure Analysis: The report provides detailed information about market the concentration of key players and tier analysis in the Transcatheter Heart Valve Replacement (TAVI) market. It also categories market players as per Tier 1, Tier 2, and Tier 3 in terms of their percentage share and product portfolio.
- Transcatheter Heart Valve Replacement (TAVI) 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,
- Transcatheter Heart Valve Replacement (TAVI) Market Trend Analysis: FMI’s market trend analysis provide compelling insights into current and upcoming trends in the healthcare industries. It also assists the industry players to identify potential trends to formulate a strategy to take advantage of these existing trends.
Competitive Landscape Analysis
The latest study conducted by FMI provides in-depth insights into the global Transcatheter Heart Valve Replacement (TAVI) market to assist management level decision-makers in constructing a strategy to capitalize on the critical trends & opportunities. It also discloses competitive trends and profiles a list of leading players operating in the global Transcatheter Heart Valve Replacement (TAVI) 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.
A Old Full Report Analysis Click Here
Key Market 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
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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