Global Transcatheter Aortic Valve Implantation Market: Overview
Transcatheter aortic valve implantation (TAVI), also referred as transcatheter aortic valve replacement (TAVR), is a minimally invasive surgical procedure conducted in order to treat high-risk patients suffering from aortic stenosis. These high-risk patients cannot undergo operation or surgical aortic valve replacement (SAVR) procedure. The geriatric population are among the high-risk category patients, as it is very risky to conduct open-heart procedure on them. In the TAVR procedure, implantation of transcatheter aortic valves is carried out to rejuvenate the blood circulation capability of the aortic valves. Demand for transcatheter aortic valve implantation is increasing owing to rise in prevalence of aortic stenosis.
Global Transcatheter Aortic Valve Implantation Market: Key Trends
The global transcatheter aortic valve implantation (TAVI) market is driven by increase in geriatric population, technological advancements in transcatheter aortic valves, and high adoption rate of TAVI devices. Additionally, increase in the number of patients suffering from CVDs such as coronary artery diseases, hypertension, or heart failure, rise in the adoption of minimally invasive procedures, reduction in hospital stay duration, and lower risk of infection boost market growth.
Global Transcatheter Aortic Valve Implantation Market: Segmentation
The global transcatheter aortic valve implantation market can be segmented based on procedure and region. In terms of procedure, the market can be classified into transfemoral implantation, transapical implantation, and transaortic implantation. The transfemoral implantation segment accounted for the largest market share in 2018 and the trend is projected to continue during the forecast period.
Global Transcatheter Aortic Valve Implantation Market: Regional Analysis
Based on region, the global transcatheter aortic valve implantation market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to capture major market share owing to increase in health care investments by manufacturers and high R&D expenditure by companies for the development of these devices. Additionally, rise in prevalence of coronary artery diseases, hypertension, or heart failure fuels the growth of the transcatheter aortic valve implantation market in North America. Israel is an emerging market for TAVI due to large geriatric population and high unmet needs. This in turn is expected to boost the growth of the market in the Middle East. Major players are investing in the Middle East owing to lack of facilities and high demand for treatment devices. Moreover, rapid urbanization has resulted in lifestyle, diet, and behavioral & cultural changes among the population of South Africa. Hence, the rise in incidence of cardiac diseases is expected to rise in the forecast years, which has resulted in making South Africa one of the emerging nations that helps in the growth of transcatheter aortic valve implantation (TAVI) market. The rest of Latin American region includes Argentina, Egypt, Iran, Colombia, Turkey, and Nigeria. These regions are lucrative for the major players of the market owing to rise in demand for unmet medical treatments.
Global Transcatheter Aortic Valve Implantation Market: Competitive Landscape
Key players in the global transcatheter aortic valve implantation market include JC Medical, Inc., Abbott Laboratories, Bracco S.p.A. (HLT, Inc.), Meril Life Sciences Pvt. Ltd., JenaValve Technology, Inc., Boston Scientific Corporation (Symetis SA), Medtronic plc, Edwards Lifesciences Corporation, NVT AG, and Venus Medtech, Inc.
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