The Global Transcatheter Aortic Valve Replacement (TAVR) Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, and Competitive Landscape etc. According to the report, the Global Transcatheter Aortic Valve Replacement (TAVR) Market is estimated to reach $ 4.29 billion by 2021 from $ 1.84 billion in 2016 with a CAGR of 18.50%. The market is segmented based on surgery method (transfemoral implantation, transapical implantation, transaortic implantation, and transcaval implantation), valve frame material (nitinol, stainless steel, and cobalt-chromium), valve size (14mm to 18mm, 18mm to 22mm, and 22mm to 29mm), valve leaflets material (bovine heart tissue, cow heart tissue, and other valve leaflets material), and end users (hospitals, ambulatory surgical centres, and cardiac catheterization laboratories). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Growth of transcatheter aortic valve replacement (TAVR) market is attributed to growing adoption of minimally invasive therapies, increasing number of severe aortic stenosis disorder patients, rising number of clinical trials cardiovascular indications, and growing number of product launches in this market. In addition, rising technological advancements, increasing demand for minimally invasive catheter-based procedures as compared to conventional open heart therapies, and growing number of patients choosing an efficient & effective therapy with quick recovery are further propelling the growth of global transcatheter aortic valve replacement (TAVR) market. However, risk associated with TAVR procedures, high costs pertaining to transcatheter aortic valves, lack of skilled professionals in certain regions of developing markets, and device related issues (such as device recalls, improper positioning of devices during implantation) are some of the factors restraining the growth of global transcatheter aortic valve replacement (TAVR) market.
North America is estimated to account for the largest market share of 34.0% of global transcatheter aortic valve replacement (TAVR) market in 2016, owing to increasing number patient population adopting for transcatheter heart valve therapy in the U.S., availability of reimbursement systems for TAVR procedures, growing number of clinical trials for new products by manufacturers, and rising demand for transcatheter heart valve surgery in Canada. Asia-Pacific region is estimated to be the fastest growing segment with a CAGR of 21.20% during forecast period 2016-2021. High growth of the market in this region is due to increasing aging population (large elder population in Japan) & patient population, rising number of product launches in this market, and growing number of cardiovascular diseases (valvular heart diseases).
The key players in global transcatheter aortic valve replacement (TAVR) market such as, Edwards Lifesciences Corporation (U.S.), Medtronic, Inc. (Ireland), Boston Scientific Corporation (U.S.), Abbott Laboratories (U.S.), St. Jude Medical Inc. (U.S.), JenaValve Technology, Inc. (Germany), Symetis SA (Switzerland), Direct Flow Medical, Inc. (U.S.), Sorin Group (Italy), Meril Life Sciences India Pvt Ltd (India), and Braile Biomedica (Brazil).
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