PORTLAND, Oregon, July 31, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled,Transcatheter Aortic Valve Implantation (TAVI) Market by Procedure: Global Opportunity Analysis and Industry Forecast, 2018-2025," the market revenue was valued at $2,761 million in 2017 and
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Transcatheter aortic valve implantation (TAVI), also called as transcatheter aortic valve replacement (TAVR), is a minimally invasive surgical procedure, which is performed to treat high-risk patients suffering from aortic stenosis. These high-risk patients refer to the patient population that are inoperable and cannot undergo surgical aortic valve replacement (SAVR) procedure. Older population (above 75 years of age) falls under the high-risk category, as the open-heart procedure is too risky for them. TAVR involves implantation of transcatheter aortic valves to regenerate the blood circulation ability of the aortic valve. The need of transcatheter aortic valve implantation is on the rise due to the increase in prevalence of aortic stenosis.
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The TAVI market is in its growth phase, and is mainly driven by rise in prevalence of aortic stenosis and increase in geriatric population. In addition, increase in adoption rate of transcatheter aortic implantation along with new device approvals and improvement of healthcare infrastructure in developing countries are other factors that fuel the market growth. However, high cost of transcatheter aortic valve and its implantation procedures, along with lack of reimbursement and stringent approvals for these devices, hamper the growth of the TAVI market.
The report segments the TAVI market based on the approach used for implantation. Mainly, three types of approaches are used to implant the transcatheter aortic valve in patients-transfemoral, transapical, and transaortic implantation. Transfemoral implantation was the highest revenue-generating segment in the global market (in terms of value and volume) in 2017, as it does not require a chest incision. Furthermore, transaortic segment is projected to grow at the highest CAGR of 19.1% (in terms of value) and 20.1% (in terms of volume) by 2025, due to positive outcomes of several clinical trials.
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Key Findings of the Transcatheter Aortic Valve Implantation (TAVI) Market:
Europe accounted for a major share in the global TAVI market (in terms of value and volume) in 2017, and is expected to maintain this trend. This is attributed to the rise in prevalence of severe aortic stenosis cases coupled with the increase in population of inoperable patients, and high adoption rate of advanced transcatheter aortic valves. However, Asia-Pacific is estimated to grow at a high CAGR (in terms of value and volume) throughout the analysis period, owing to the presence of ample growth opportunities in terms of unmet medical needs for the treatment of aortic stenosis and increase in awareness about TAVI procedures among physicians.
Key players have adopted product approval as their key strategy to enhance their product offerings by expanding the usage of transcatheter aortic valves for new indications, such as intermediate risk aortic stenosis patients. The key players profiled in this report include Abbott Laboratories, Boston Scientific Corporation (Symetis SA), Bracco S.p.A. (HLT, Inc.), Edwards Lifesciences Corporation, JenaValve Technology, Inc., JC Medical, Inc., Medtronic plc, Meril Life Sciences Pvt. Ltd., NVT AG, and Venus Medtech, Inc.
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SOURCE Allied Market Research
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