Global Transcatheter Aortic Valve Replacement/Implantation Overview
A human heart has four valves which includes aortic valve, pulmonary valve, mitral valve and the tricuspid valve where aortic valve can be defined as the valve which is present in between the aorta and the left ventricle. A typical aortic valve in a human heart have three cusps/leaflets. The function of the aortic valve in the heart is that, it closes the lower left chamber of the heart in which oxygen rich blood is present before it is pumped out.
Aortic Stenosis (AS) is a serious cardiac valve disease that is caused when the aortic valve gets narrowed and inhibits the flow of oxygen rich blood from the left ventricle. Person suffering from congenital heart defect may have aortic stenosis during aging which is responsible to restrict the blood flow through the valve. If the aortic valve does not grow along the development of the heart during birth, it could lead to aortic stenosis. The damaged valve in the heart becomes narrower and stiff because of calcium deposition. If the oxygenated blood flows in the wrong direction in the heart, it is medically termed as Aortic Regurgitation. This happens on account of improper functioning of the aortic valve.
The transcatheter aortic valve replacement (TAVR) is a minimally invasive cardiac surgical procedure which repairs the aortic valve without permanently removing the original damaged valve. This minimally invasive cardiac surgery is also termed as transcatheter aortic valve implantation (TAVI). In the TAVR surgery, a replacement of aortic valve is delivered with the help of a catheter to the damaged valve site. In this, the new valve that has to be implanted, is expanded and it pushes the old damaged aortic valve out and the replacement valves tissue is implanted which results in normal regulation of blood flow. This procedure is approved by the FDA for the patients who are suffering from aortic stenosis.
Market Size and Forecast
The market is observing vibrant growth on account of increasing cases of mitral regurgitation as well as aortic stenosis along with increment in non-invasive surgeries for critical patients. Further, high success rate of this surgical procedure, rising technological advancements and growing prevalence of cardiovascular diseases is expected to support the growth of the market. Additionally, increase in the health care expenditure in developing countries coupled with the growing incidence rate of aortic diseases is estimated to boost the growth of the market in upcoming years.
The global transcatheter aortic valve replacement/implantation market is anticipated to record a CAGR of around 14% over the forecast period i.e. 2019-2027. The market is segmented by surgical approach into transapical, transaortic and transfemoral approach, out of which, the transfemoral approach is expected to have the highest market share over the forecast period.
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Growth Factors
Increased Prevalence of Cardiovascular Diseases (CAD)
Aortic stenosis is a type of cardiovascular disease which can occur on account of deposition of calcium on the valve, congenital heart defect and rheumatic fever. Cardiovascular and cardio valvular diseases are the primary cause of death worldwide. Approximately, the death count of people suffering from cardiovascular/cardiovalvular diseases in the year 2016 was 17.9 people, which represented 31 percent of the worldwide deaths. Therefore, the increase in the prevalence of cardiovascular diseases around the globe is anticipated to drive the growth of the market over the forecast period.
Rise in the Cases of Aortic Stenosis
According to an analysis, the prevalence of aortic sclerosis is more in individuals who are more than 75 years old and approximately three-fourth do not show any symptoms. The growing prevalence of aortic stenosis in elderly population is expected to boost the growth of the market over the forecast period.
Restraints
High Cost of Transcatheter Heart Valve
The average cost of a transcatheter heart valve is approximately USD 32,500 which is very expensive for middle class individuals. This high price associated with transcatheter heart valve is expected to hinder the growth of the market over the forecast period.
Market Segmentation
Our-in depth analysis of the global transcatheter aortic valve replacement market includes the following segments:
By Surgical Approach
- Transapical
- Transaortic
- Transfemoral
By Valve Frame Material
- Nitinol
- Stainless Steel
- Others
By Valve Leaflets Materials
- Bovine Heart Tissue
- Cow Heart Tissue
- Others
By End User
- Ambulatory Surgical Centers
- Hospitals
- Cardiac Catheterization Laboratory
By Region
On the basis of regional analysis, the global transcatheter aortic valve replacement market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is expected to lead the global transcatheter aortic valve replacement market on the back of increase in healthcare expenditure coupled with the rise in the cardiovascular diseases. Further, Europe is anticipated be the maximum revenue contributor on the back of growing geriatric population across the region, whereas, Asia pacific market is expected to witness significant growth over the forecast period on account of expansion of the healthcare sector rising awareness about the transcatheter ebolization for therapeutic purposes in the region.
The global transcatheter aortic valve replacement market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Top Featured Companies Dominating The Market
- Abbott Laboratories
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Boston Scientific Corporation
- JenaValve Technology, Inc.
- Medtronic Plc.
- Bracco Diagnostic Inc.
- St. Jude Medical
- Bracco
- Jenavalve Technology
- JC Medical
- Meril Life Sciences
- NVT
- Venus Medtech
- Transcatheter Technologies
- Xeltis
