Dublin, Feb. 14, 2022 (GLOBE NEWSWIRE) -- The "Transcatheter Heart Valve Replacement Market, Global Forecast 2022-2027, Industry Trends, Impact of COVID-19, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
This latest report provides a detailed analysis of Global Transcatheter Heart Valve Replacement Industry. The Transcatheter Heart Valve Replacement Market is expected to reach US$ 11.8 Billion by 2027.
Over the past decade, transcatheter heart valve replacement has become the leading technique for aortic valve replacement, mitral valve replacement, and pulmonary valve replacement. Transcatheter heart valve replacement is a procedure with a less invasive approach that helps replace the heart valve with a prosthetic valve to treat severe aortic stenosis and mitral regurgitation. It is an effective alternative to cumbersome open heart surgery, especially for high-risk patients.
Thus, the procedure helps reduce severe degenerative aortic stenosis and increases the survival rate of patients. Improving percutaneous transcatheter prosthetic valve implantation worldwide is to propel the demand for transcatheter heart valve devices, as the risk of valvular heart disease is higher among the geriatric population, owing to the increasing prevalence of severe aortic stenosis asymptomatic severe mitral regurgitation.
Factors Driving Transcatheter Heart Valve Replacement Industry
As per the World Journal of Cardiovascular Diseases, more than 7 million deaths are due to sudden cardiac arrest globally every year. Therefore, the growing cases of heart attacks, heart failures, strokes, and other heart-related conditions facilitate the market for transcatheter heart valve replacement.
Technological advancements and innovative product launches in the cardiovascular industry have resulted in better treatment and improved accessibility to TAVR devices. Compared to mechanical prosthetic valves, tissue valves are increasingly prevalent for better biocompatibility and high durability.
Favorable reimbursement plans for Medicare, Medicaid plans, and insurance claims sponsored by the regulatory authorities for the patients further expand the affordability of these transplant surgeries and, thus, fueling the treatment rate for valvular disorders.
Transcatheter Heart Valve Replacement Industry will grow with double-digit CAGR of 12.57% from 2021-2027
On the basis of product, Transcatheter Heart Valve Replacement Market includes Transcatheter Aortic Vmeaningalve Replacement Market, Transcatheter Mitral Valve Replacement Market, and Transcatheter Pulmonary Valve Replacement Market. Transcatheter Aortic Valve Replacement has significant market share owing to the increasing number of transcatheter aortic valve replacements and the availability of novel products. Apart from this, depending on the product, Transcatheter Aortic Valve Replacement (TAVR) is segmented into the Transfemoral approach, Transapical approach, and Transaortic approach.
Besides, based on application, TAVR is used to treat aortic valve disorders such as severe aortic stenosis, aortic regurgitation and others. Transcatheter aortic valve replacement devices are combined with a valve mechanical (made of stainless steel or nitinol) and valve leaflets Biological (made of cow heart tissue or bovine). These aortic valves are available in various sizes (29mm, 22mm, 20mm, 18mm, 14mm, and 16mm). Likewise, Transcatheter mitral valve replacement provides superior hemodynamic efficiency with a low rate of residual mitral regurgitation and low transvalvular gradients. Transcatheter mitral valve replacement is segmented into mechanical valves and bioprosthetic tissue valves.
Worldwide Transcatheter Heart Valve Replacement Market Size was US$ 5.8 Billion in 2021
In terms of End-Users, the transcatheter heart valve replacement industry is segmented into hospitals and Cath Labs. The cath labs segment has considerable market shares. A cath lab has special imaging equipment to see the arteries and check how well blood is flowing to and from the heart. This information helps the care team to treat and diagnose blockages and other problems in the arteries. Furthermore, TAVR is mostly performed in cath labs rather than a hybrid with substantial cost savings and no worsening outcomes.
North America has Highest Transcatheter Heart Valve Market Worldwide
Geographically, North America is the leading transcatheter heart valve market globally. The rapid enlargement in the geriatric population, available government support through product approvals and favorable health reimbursement and the high prevalence of valvular heart diseases are the primary elements of the rising need for transcatheter heart valve replacement products. As per the American Heart Association, 90,000 valve substitutes are embedded in the U.S. every year.
Conversely, Asia-Pacific's transcatheter heart valve replacement industry has immensely grown. This is because of the rising geriatric populations in nations like China and Japan and the increasing understanding among physicians and healthcare specialists about transcatheter aortic valve replacement.
COVID - 19 Impacts on Transcatheter Heart Valve Replacement Market
Patients and the cardiac arrest treatment industry faced struggles amid the COVID-19 pandemic. Due to the diversion of the medical field towards dining COVID-19, the funding to R&D activities related to cardiac diseases has been diminished, manufacturing of ventilators essential for COVID-19 treatment has been prioritized. As a result, this segment has faced slight neglect, harming the transcatheter heart valve replacement market for initial months.
Pivotal players in the transcatheter heart valve replacement industry include Edwards Life sciences, Abbott Laboratories, Medtronic Plc, Livanova Plc, Boston Scientific Corporation.
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenge
5. Transcatheter Heart Valve Replacement Market
6. Market Share - Transcatheter Heart Valve Replacement Analysis
6.1 By Type
6.2 By Material
6.3 By Region
6.4 By End-User
6.5 By Product
6.6 By Application
7. Type - Transcatheter Heart Valve Replacement Market
7.1 Transcatheter Aortic Valve Replacement Market
7.1.1 Mechanical Valve
7.1.2 Biological Valve
7.2 Transcatheter Mitral Valve Replacement Market
7.2.1 Mechanical Valve
7.2.2 Biological Valve
7.3 Transcatheter Pulmonary Valve Replacement Market
7.3.1 Mechanical Valve
7.3.2 Biological Valve
8. Region - Transcatheter Heart Valve Replacement Market
8.1 North America
8.2 Europe
8.3 Asia-Pacific
8.4 Latin America
8.5 Others
9. End-User - Transcatheter Heart Valve Replacement Market
9.1 Hospitals
9.2 Cath Labs
10. Product - Transcatheter Aortic Heart Valve Replacement Market
10.1 Transfemoral approach
10.2 Transapical approach
10.3 Transaortic approach
10.4 Others
11. Application - Transcatheter Aortic Heart Valve Replacement Market
11.1 Aortic Stenosis
11.2 Aortic Regurgitation
11.3 Others
12. Porters Five Forces
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13. Key Players Analysis
13.1 Edwards Lifesciences
13.1.1 Overview
13.1.2 Recent Development
13.1.3 Sales Analysis
13.2 Abbott Laboratories
13.2.1 Overview
13.2.2 Recent Development
13.2.3 Sales Analysis
13.3 Medtronic Plc
13.3.1 Overview
13.3.2 Recent Development
13.3.3 Sales Analysis
13.4 LIVANOVA PLC
13.4.1 Overview
13.4.2 Recent Development
13.4.3 Sales Analysis
13.5 Boston Scientific Corporation
13.5.1 Overview
13.5.2 Recent Development
13.5.3 Sales Analysis
For more information about this report visit https://www.researchandmarkets.com/r/4zqxch
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