Transcatheter Aortic Valve Replacement, also known as transcatheter aortic valve replacement (TAVR), is a minimally invasive procedure used to treat severe aortic stenosis, a condition in which the heart's aortic valve narrows and restricts the flow of blood from the heart to the rest of the body. The procedure involves the use of a catheter-based system to replace the diseased valve with a new, artificial valve. This method of valve replacement is increasingly being preferred over traditional open-heart surgery as it is less invasive and has a shorter recovery time.
The global Transcatheter Aortic Valve Replacement Market is estimated to reach a value of USD 10.3 billion by 2023, growing at a compound annual growth rate (CAGR) of 9.3% during the forecast period (2018-2023). The growth of the market can be attributed to the increasing prevalence of heart diseases, such as aortic stenosis, and the growing demand for minimally invasive surgical procedures.
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Market Overview:
The global Transcatheter Aortic Valve Replacement market is expected to reach USD XX Billion in 2028 from USD XX Billion in 2020 at a robust revenue CAGR of XX% over the forecast period, according to a novel report published by Reports and Data. Robust revenue growth is attributable to rising prevalence of chronic diseases, rapid advancements in medical and healthcare sector, increasing healthcare expenditure and improving healthcare infrastructure and research facilities. Other factors such as increasing adoption of latest treatment facilities, tools and techniques across several healthcare centers, increasing funds by various public and private sectors, and government initiatives to create awareness about diseases and devices are expected to fuel market growth during the forecast period. In addition, high adoption of point of care diagnosis and home care settings, rising global geriatric population, rising shortage of medicines and vaccines worldwide is expected to open lucrative growth opportunities for existing and emerging market players going ahead.
Competitive landscape:
- CryoLife, Inc.
- Edwards Lifesciences Corporation
- Abbott
- Boston Scientific Corporation
- JenaValve Technology, Inc.
- Terumo Corporation
- Meril Life Sciences Pvt. Ltd.
- Bluesail Medical Co., Ltd.
- Bracco
- JC Technologies LLC
- Medtronic
- Lifemed Technologies Pvt. Ltd.
- LivaNova PLC
Segmentation:
The global Transcatheter Aortic Valve Replacement market can be segmented by type, application, end-user, and region.
By type, the market is segmented into transfemoral, transapical, transaortic, and transsubclavian. The transfemoral segment is expected to hold the largest share of the market, due to the growing preference for this method over traditional open-heart surgery.
By application, the market is segmented into aortic stenosis, mitral regurgitation, and others. The aortic stenosis segment is expected to hold the largest share of the market, as this condition is the most commonly treated using TAVR.
By end-user, the market is segmented into hospitals, clinics, and others. The hospital segment is expected to hold the largest share of the market, as TAVR procedures are typically performed in hospitals.
Regional analysis covers:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East Africa
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In conclusion, the Transcatheter Aortic Valve Replacement market is expected to grow significantly during the forecast period, due to the increasing demand for Transcatheter Aortic Valve Replacement, the growing number of patients with neurological conditions, and the growing focus on the development of new and innovative treatments.
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