TAVI Market to Grow at 14.5% CAGR by 2030
High prevalence rate of cardiovascular disorders, rising demand for minimally invasive procedures and favourable reimbursement scenarios are expected to drive the growth of TAVI industry during the forecast period.
The TAVI Market is expected to grow at a CAGR of 14.5% from 2020-2030, according to a new research report by Next Move Strategy Consulting
TAVI is also known as transcatheter aortic valve implantation is a minimally invasive procedure used for the implantation of artificial aortic valve. This procedure is done to replace the dysfunctional or damaged heart valve to restore the normal functioning and prevent further damage to other organs. TAVI is used for the treatment of valvular heart disease diagnosed by electrocardiography. It is one of the new techniques highly preferred by professionals. TAVI is generally performed on high risk patients who cannot undergo surgical valve replacement procedure.
According to the report, high prevalence rate of cardiovascular disorders, aortic stenosis and rising demand for minimally invasive procedures are driving the market growth. The presence of large geriatric population around the globe, who are prone to heart diseases another factor driving the market growth. Over the period of time, there has been constant development in healthcare services along with technological advancement in medical devices. Also, high recovery and survival rates as compared to other surgical procedures has led to increased adoption of TAVI. On the other hand, growth in market investments by market players as well as rising healthcare expenditure is likely bring changes in market trends.
However, high cost associated with TAVI along with stringent regulatory policies for the approval of transcatheter aortic valves is likely to impede the market growth. Moreover, growth in research & development activities followed by innovation & product launches is anticipated to provide numerous opportunities to the market players in the coming few years.
On the basis of procedure, the TAVI market share is segmented into Transfemoral Implantation, Transapical Implantation, and Transaortic Implantation. Transfemoral Implantation dominates the global TAVI market and will be the dominant during the forecast period. Transfemoral implantation is one of the highly accepted techniques with minimal aesthesia and high accuracy as compared to other procedures.
North America accounts for the highest market size & share in the TAVI market throughout the forecast period, owing to the presence of developed healthcare facilities & infrastructure. In addition, technological advancements as well as presence of major market players in the region is expected to promote market growth. Europe holds the second largest market size in the TAVI market. Asia Pacific is expected to be the fastest developing region in the TAVI market majorly driven by the high prevalence rate of cardiovascular disorders as well as presence of large geriatric population prone to cardiovascular disorders. Additionally, favourable reimbursement policies as well as growth in TAVI procedures in the region are also expected to fuel the market growth.
According to the report, some the key players in the TAVI market report are Abbott Laboratories, JC Medical, Inc., Meril Life Sciences Pvt. Ltd., BraccoS.p.A. (HLT, Inc.), Boston Scientific Corporation (Symetis SA), JenaValve Technology, Inc., Edwards Lifesciences Corporation, Medtronic plc, Venus Medtech, Inc and NVT AG.
Browse key industry insights from the report, “https://www.nextmsc.com/report/tavi-market” in detail along with the table of contents:
Key Insights from the TAVI Market Report:
- Asia Pacific is the fastest growing region in TAVI market owing to the high prevalence rate of cardiovascular disorders, presence of large geriatric population and favourable reimbursement scenario.
- The Transfemoral Implantation segment dominates the market in terms of procedure and is expected to grow at a significant CAGR to maintain the lead till 2030.
- Some of the major players in the market are Abbott Laboratories, JC Medical, Inc., Meril Life Sciences Pvt. Ltd., BraccoS.p.A. (HLT, Inc.), Boston Scientific Corporation (Symetis SA), JenaValve Technology, Inc., Edwards Lifesciences Corporation, Medtronic plc, Venus Medtech, Inc and NVT AG.
The report TAVI market – segmented by procedure, and geography
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