TAVI Market by Procedure (Transfemoral Implantation, Transapical Implantation, and Transaortic Implantation), and by End-user (Hospitals, Cardiac Catheterization Laboratories, Ambulatory Surgical Centers)- Global Opportunity Analysis and Industry Forecast 2022-2030

Market Definition:

The TAVI Market was valued at USD 4.89 billion in 2021 and is predicted to reach USD 16.32 billion by 2030, registering a CAGR of 14.6% from 2022 to 2030. Transcatheter aortic valve implantation (TAVI) also known as transcatheter aortic valve replacement (TAVR)is an open-heart surgery that is performed to treat aortic stenosis.

An aorta is a large artery that carries blood from the heart to the rest of the body. TAVI is a minimally invasive method that is designed to replace a diseased aortic valve with an artificial valve through blood vessels, without removing the old, damaged valve. This method is used for the renewal of dysfunctional and damaged heart valves, especially for high-risk category patients that are unfit to undergo an operation or surgical valve replacement (SAVR)procedure.

Market Dynamics and Trends

The demand for TAVI is increasing due to the rise in the prevalence of aortic stenosis coupled with developments in healthcare infrastructure for TAVR across various healthcare institutes including Minneapolis Heart Institute and Asian Heart Institute.

Also, factors such as advancements in transcatheter aortic valves that include improved pre-procedural assessment with dedicated protocols of computed tomography (CT) image acquisition and reconstruction as well as rise in demand for various TAVI procedures to treat cardiovascular issues are expected to drive the TAVI market growth.

Moreover, TAVI has become a well-known standard of care for patients unable to undergo an operation. The improved awareness among patients & physicians about the benefits of transcatheter aortic is anticipated to drive the growth of the TAVR Device industry, during the forecast time frame.

For instance, in September 2020, The Heart Valve Centre, a unit of HeartTeam India presented the TAVR World Tour to educate the masses about modern cardiac treatments. It is the first cardiovascular health awareness campaign comprising 20 cardiac specialist teams from 20 different cities across the world live on one global platform (JioMeet).

The lack of skilled healthcare professionals and the high cost of treatment are factors that are expected to restrain the TAVI market growth,  during the forecast period. On the other hand, a lower risk of infection as a result of technological advancements such as new-generation TAVI devices is expected to create new opportunities for the market in future.

Market Segmentations and Scope of the Study

The global TAVI market is segmented based on procedure, end-user, and geography. Based on procedure, the market is divided into transfemoral implantation, transapical implantation, and transaortic implantation. Based on end-user, the market is classified into hospitals, cardiac catheterization laboratories, and ambulatory surgical centers. The geographic breakdown and analysis of each of the preceding divisions involve regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America held the lion’s share of the global TAVI market in 2021 and is expected to continue dominating the market during the forecast period.  This is attributed to factors such as the presence of developed healthcare infrastructure along with high R&D expenditure for the development of these devices.

Also, the rise in the prevalence of coronary artery diseases, hypertension, or heart failure that needs surgical aortic treatment is supplementing the market growth. Moreover, the demand for TAVI is increasing due to the surging prevalence in the U.S., which consists of a large geriatric population, that is most vulnerable to valvular aortic stenosis. For instance, in 2020, according to the Americal College of Cardiology, since the approval of the first transcatheter aortic valve replacement (TAVR) device in 2011, more than 276,000 patients have undergone a TAVR procedure in the U.S.

Asia-Pacific is expected to exhibit a steady rise in the global TAVI market during the forecast period, due to factors such as increasing incidences of cardiovascular disorders, and rising accessibility to healthcare facilities in this region. Also, growing medical tourism in countries such as Japan, Thailand, and Singapore, including procedures of TAVI in the region is expected to fuel the market in this region.

Moreover, the presence of key companies such as Meril Life Sciences Pvt. Ltd and Venus Medtech, Inc., that adopt various strategies to expand their business in this region is propelling the growth of the TAVI industry. For instance, in July 2020, Venus Medtech, announced a collaboration with Pi-Cardia Ltd. to introduce Pi-Cardia’s Leaflex™ technology to China. This was aimed at enabling a lower-cost non-implant-based solution for patients with calcified aortic valves.

Competitive Landscape

The TAVI market comprises key players such as Abbott, JC Medical Inc., Meril Life Sciences Pvt. Ltd., HLT, Inc. (Bracco), Boston Scientific Corporation, JenaValve Technology Inc., Edwards Lifesciences Corporation, Medtronic, Venus Medtech (Hangzhou) Inc, and NVT AG(Blue Sail Medical) among others. These players are actively indulging in R&D initiatives, product & technology innovations, and industrial collaborations to enhance their products and increase their sales growth and geographical reach.

For instance, in August 2021, Medtronic plc., announced the approval of the U.S. Food and Drug Administration (FDA) for its newest-generation, self-expanding transcatheter aortic valve replacement (TAVR) system, the Evolut™ FX TAVR system. It is designed specially to enhance ease of use and provide greater precision and control throughout the procedure.

Additionally, in September 2021, Abbott announced the U.S FDA approval of the company's Portico with FlexNav transcatheter aortic valve replacement (TAVR) system in order to treat people suffering from severe aortic stenosis, symptomatic that are at extreme risk for open-heart surgery through minimally invasive therapies.

KEY BENEFITS

• The TAVI market report provides a quantitative analysis of the market estimations through 2022-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep-dive analysis of the market, including the current and future trends for depicting the prevalent investment pockets in the industry.

• The information related to key drivers, restraints, and opportunities and their impact on the TAVI market is provided in the report.

• The competitive analysis of the market players along with their revenue, in the global TAVI market, is provided in the report.

• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

TAVI MARKET KEY SEGMENTS

By Procedure

• Transfemoral Implantation

• Transapical Implantation

• Transaortic Implantation

By End User

• Hospitals

• Cardiac Catheterization Laboratories

• Ambulatory Surgical Centers

By Geography

• North America

  • U.S

  • Canada

  • Mexico

• Europe

  • UK        

  • Germany        

  • France        

  • Spain        

  • Italy        

  • Netherlands        

  • Denmark        

  • Finland        

  • Norway        

  • Sweden        

  • Russia        

  • Rest of Europe

• Asia-Pacific

  • China        

  • Japan        

  • India

  • Australia

  • South Korea    

  • Thailand    

  • Singapore

  • Rest of Asia-Pacific    

• RoW

  • Latin America

  • Middle East        

  • Africa

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