Transcatheter aortic valve replacement (TAVR) Market - Global Industry Analysis, Size, Share, Trends and Forecast, 2014-2022
NEW YORK, April 5, 2017 /PRNewswire/ -- Transcatheter Aortic Valve Replacement (TAVR), also referred as Transcatheter Aortic Valve Implantation (TAVI) is a minimally invasive surgical procedure repairs the valve without removing the old, damaged valve. Instead, it wedges a replacement valve into the aortic valve's place. Normally valve replacement method requires an open heart procedure with a sternotomy, in which the chest is surgically separated for the treatment.
Read the full report: http://www.reportlinker.com/p04752140/Transcatheter-aortic-valve-replacement-TAVR-Market-Global-Industry-Analysis-Size-Share-Trends-and-Forecast-.html
Transcatheter Aortic Valve Replacement (TAVR), also referred as Transcatheter Aortic Valve Implantation (TAVI) is a minimally invasive surgical procedure repairs the valve without removing the old, damaged valve. Instead, it wedges a replacement valve into the aortic valve's place. Normally valve replacement method requires an open heart procedure with a sternotomy, in which the chest is surgically separated for the treatment. Whereas, the TAVR procedures can be done through very small openings that leave all the chest bones in place.
There are two methods available for TAVR surgical procedure, which includes:
- Entering through the femoral artery (large artery in the groin), called the transfemoral approach, which does not require a surgical incision in the chest.
- A minimally invasive surgical approach with a small incision in the chest and entering through a large artery in the chest or through the tip of the left ventricle (the apex), which is known as the transapical approach.
Recent clinical trials on TAVR devices proved that these devices are non-inferior, and possibly superior, to Surgical Aortic Valve Replacement (SAVR) within the intermediate risk patient population. These trials were also noteworthy for the low complication rates observed in the TAVR groups. As TVAR's application moves from inoperable and high risk patients to patients who have moderate or lower risk for open heart surgery, the market will expand exponentially in the coming years.
Some of the key driving factors attributing to the growth of this market include increasing number of patients with cardiovascular diseases such as hypertension, heart failures and coronary artery diseases. In addition, increasing adoption of minimally invasive procedures over traditional surgical open heart procedures, reduction in hospital stays, low risk of infection, minimal blood loss are further propelling the market. According to World Health Organization (WHO), it has been estimated that the number of people suffering from cardiovascular diseases will increase to 22.2 million by 2030.
The market for TAVR is expected to reach around USD 6.5 billion by 2022, growing at a CAGR of 21.3% during the forecast period of 2016e to 2022f. However, there are certain restraining factors which could hamper the growth of this market, which includes, high costs associated with the LAVD implantation compared to other therapies available for CVD diseases. A TAVR device costs USD 30,000, which is six times the price of the average surgical valve. In addition, for a hospital to be reimbursed for a TAVR procedure, the patient must be evaluated by a multidisciplinary team that involves multiple cardiac surgeons and interventional cardiologists. However, there are some cost savings compared to surgery, such as shorter length of stay in the hospital.
Geographically, North America is leading contributor to the market and is expected to retain its position during the forecast period. Nonetheless, the market for Asia-Pacific region is expected to grow at a faster rate owing to increasing prevalence of CVD diseases, growing awareness about minimally invasive surgical procedures among the population, improving healthcare infrastructure, rise in healthcare spending, and favorable government policies.
Report Highlights:
The report delivers a strategic analysis of the global market for TAVRs and growth forecast for the period from 2016e – 2022f. The scope of the report includes competitive analysis of various market players who are operating in the market, segmental analysis based on type of indication. It also covers geographical analysis of the market with growth forecast for the period of 2016e – 2022f. The Porter's Five Forces analysis and value chain analysis included in the report provides an insight into market dynamics and industry competition.
The study also provides information for recent merger and acquisition deals happened in the global TAVR market. Moreover, the report also includes growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry and various business strategies adopted by them. This report will help players in global TAVR market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies
Companies profiled:
- Edwards Lifesciences Corp.
- Boston Scientific Corp.
- Direct Flow medical, Inc.
- Bracco SpA.
- JenaValve Technology, Inc.
- Medtronic plc
- Meril Life Sciences Pvt. Ltd.
- Jude Medical, Inc.
Read the full report: http://www.reportlinker.com/p04752140/Transcatheter-aortic-valve-replacement-TAVR-Market-Global-Industry-Analysis-Size-Share-Trends-and-Forecast-.html
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
http://www.reportlinker.com
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article